Global Renewable Methanol Market Growth projects Upward Trend during 2019-2028

According to Inkwood Research, the Global Renewable Methanol Market is estimated to evolve a CAGR of 2.23% in terms of revenue and 1.77% in terms of volume during the forecast period, 2019-2028.

"Browse 61 Market Data Tables and 46 Figures spread over 150 Pages, along with an in-depth TOC on the Global Renewable Methanol Market Forecast 2019-2028."

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Renewable Methanol is an ultra-low carbon chemical manufactured from sustainable biomass, also known as bio-methanol. It cuts carbon dioxide emissions by up to 95%, completely eliminates sulfur dioxide, and minimizes nitrogen oxide emissions by up to 80%, in comparison to conventional fuels.

Government Regulations & Shifting Preference Drives Market Growth

The government regulations on greenhouse gas emissions are projected to influence the growth of the market. A report by Renewables Now states that carbon dioxide emission in Europe fell by 12%. Renewable energy sources exceed conventional energy sources like fossil fuel and coal. The new renewable energy policies in the EU Emissions Trading System are projected to propel market growth for the aforementioned energy sources. This will further fuel the growth of the market under study.

The shifting trend towards sustainable energy is set to be impactful for market growth. The production of renewable methanol bridges the gap between renewable sources and conventional fossil fuel. Also, harnessing excess energy from renewable sources like wind and solar is projected to surge the demand for renewable methanol production.

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Municipal Solid Waste Feedstock -The Leading and Dominating Feedstock

The huge accumulation of Municipal Solid Waste (MSW) and the threat that is posed to the environment, could be tackled by using it to produce sustainable chemicals. It is increasingly used in renewable methanol production. Almost 1.3 billion metric tons of MSW are manufactured every year across the globe. It is projected to rise to 2.2 billion metric tons by 2025. With the use of MSW, the efficient utilization of unrecyclable garbage becomes possible. Many companies make use of MSW for the production of renewable methanol. Biochemical Company Enerken is developing a plant that will turn 350000 metric tons of waste into 270 million liters of biomethanol in Rotterdam every year.

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Asia Pacific to remain the Major Market throughout 2019-2028

The rising use of methanol as a transportation fuel in China is estimated to result in increased demands for the market under study. The region also has the presence of major players like Carbon Recycling International, which is deemed to be beneficial for market growth. Many prominent providers of methanol technology are collaborating to promote renewable methanol production. Zixin Industrial Co and Geely Holdings are establishing facilities in China. Such developments are estimated to fuel up demands in the region.

The market is fragmented, with the top 8 players occupying almost 40% share in terms of revenue. The companies are prioritizing the increase in production. They are engaged in more joint ventures for expansion across the globe. Some of the top players in the market include, Methanex Corporation, Carbon Recycling International, Advanced Chemical Technologies Inc, Enerkem, BASF SE, etc.

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This release was published on openPR.