The huge growth of Renewable Methanol Market In-depth Analysis Growth Projection with Regional Demand and Revenue Forecast till 2027

Allied Market Research recently released a comprehensive report on the Renewable Methanol Market, covering various aspects such as feedstock, applications, end-user industries, and geographical trends. According to the report, the global renewable methanol industry, valued at $3.3 billion in 2019, is anticipated to reach $5.3 billion by 2027, exhibiting a Compound Annual Growth Rate (CAGR) of 5.8% from 2020 to 2027.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/1980

The market's growth is attributed to the rising demand for sustainable energy sources, the ready availability of renewable methanol, and stringent government regulations. However, the high installation costs pose a challenge to market expansion. On a positive note, there are opportunities for market players in the replacement of marine fuels with renewable methanol.

The COVID-19 pandemic significantly impacted the industry, causing a 5-15% decline in global Foreign Direct Investment (FDI) according to the United Nations Conference on Trade and Development (UNCTAD). The manufacturing sector, crucial for many economies, suffered due to raw material shortages and lockdowns. Governments are now focusing on revitalizing the manufacturing sector to stimulate growth in the renewable methanol market.

In terms of feedstock, municipal solid waste dominated in 2019, accounting for over one-third of the global market. However, the CO2 emission segment is expected to witness the highest CAGR of 8.3% due to stringent regulations and increased adoption by companies.

The transportation segment held the largest share among end-user industries in 2019, contributing to about one-third of the market. This dominance is attributed to the favorable properties of renewable methanol, such as a high hydrogen-to-carbon ratio. Nevertheless, the power generation segment is forecasted to exhibit the highest CAGR of 6.7% due to growing electricity demand and the ability of methanol to replace oil as a fuel.

Geographically, North America is expected to register the highest CAGR of 7.7% through 2027, driven by the implementation of the Renewable Fuel Standard (RFS) program to reduce greenhouse gas emissions. However, Asia-Pacific led the market in 2018, accounting for over two-fifths of the global market share, thanks to increased partnerships among major market players in the region.

Key market players include Advanced Chemical Technologies, Carbon Recycling International (CRI), BASF SE, Fraunhofer, Enerkem, Nordic Green, Innogy, Serenergy A/S, OCI N.V., and Sodra. These players are instrumental in shaping the renewable methanol market landscape.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/renewable-methanol-market

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