Renewable Methanol Market Set To Garner Staggering Revenues by 2031

Renewable Methanol Market - Overview

Renewable methanol is obtained from renewable energy sources such as industrial waste and biomass and is second-generation methanol. It is a significant contribution to biodiesel creation, which can be handled as a chemical feedstock or mixed into automobile fuels. The development of renewable methanol is like ordinary methanol where carbon dioxide is filled in for carbon monoxide. It has a high power-rating, inferable from its high hydrogen to carbon proportion, and helps in controlling nursery consequences for the climate. The increasing rate of carbon footprint has propelled governments of various nations to adopt initiatives that will reduce carbon footprint is projected to aid in expansion of the global renewable methanol market during the forecast period, set between 2021 and 2031.

Biomass is considered a key source of methanol production. The growing conversion rate for both agricultural and industrial waste into renewable methanol is projected to boost the sales growth for the renewable methanol market in the forecast period. The growing demand for biomass for use in solvents and chemicals is also projected to promote the growth of the global renewable methanol market in the future years.

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The research report on the global renewable methanol industry provides a qualitative and quantitative analysis of the market and its growth trajectories such as drivers, restraints, challenges, and new growth opportunities. The report also lists the names of players, and their key contributions such as latest innovations, new product launches, and players operating in this market are also provided in the Renewable Methanol market survey. The report also throws light on the table of segmentation and mentions the names of the leading segment along with emerging trends of the renewable methanol market. For more information on this market, log on to the company website.

Renewable Methanol Market - Competitive Landscape

There are many players functioning in the global renewable methanol market, thereby making the nature of market highly competitive. Leading players in the renewable methanol market are emphasizing on adoption of growth strategies, such as innovations in the current technologies, joint ventures, mergers and acquisitions, and more. Players are also making significant efforts in terms of heavy investments on R&D so as to obtain new revenue generation opportunities in the renewable methanol industry.

Some of the key players of the global Renewable Methanol market include:

Methanex New Zealand Ltd.
Petroliam Nasional Berhad
Statoil
Petronas
Methanol Holdings (Trinidad) Limited
Biomethanol Chemie Nederland B.V.
Mitsubishi Chemicals
BASF SE
Metanex Corporation
Chemrec AB
Carbon Recycling International Inc.
Enerkemand
Varmsland Methanol
Blue Fuel Energy
BioMCN
Other players

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Renewable Methanol Market - Innovations

An investment of about US$ 5 million was made by Israel Electric Company for converting a turbine of 50MW to run with the help of methanol in a power generation plant.
Renewable Methanol Market - Growth Drivers

The increasing demand from the chemical industry or the production of formaldehyde to use in paints and coatings will add boost to the overall growth of the global renewable methanol market. Besides this, the use of renewable methanol by the building sector for construction purposes will also drive this market in the forecast period. Apart from this, there is a surge in demand for renewable methanol from the automobile and transportation sector as well. This is because high-octane fuel ethers for example methyl-tert-butyl-ether ot MTBE are itilized in the manufacturing of biodiesel used in automobiles. On the contrary, the lack of proper infrastructure and production facilities for methanol may pose a serious challenge to the market's growth rate in the coming years. Nevertheless, the rising concern about environment protection and the stringent regulations on controlling greenhouse gas emissions are likely to help create lucrative growth opportunities for this market in the near future.

Renewable Methanol Market - Geographical Insights

Geographically, Asia Pacific held the largest shares for the global renewable methanol market in the past and is likely to continue so in the forecast period as well. This is owing to the presence of leading manufacturers in the region. Besides this, major partnership deals and joint ventures on energy renewal and better revenue generation in nations such as China, and India will further help this region's dominance in future.

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