Over the last ten years, the production of methanol has nearly doubled, with China accounting for most of this expanded share. By utilizing all fuels are derived from fossil fuels, output could increase to 500 Mt annually by 2050, emitting 1.5 Gt of CO2 annually.
Renewable methanol is a clean and sustainable fuel produced from renewable sources such as biomass, carbon dioxide, and hydrogen. It can be used as a fuel for transportation, power generation, and as a feedstock to produce chemicals and materials. The renewable methanol market is growing rapidly as the demand for clean energy sources continues to increase and governments around the world implement policies to reduce carbon emissions. Global renewable methanol market is expected to experience significant growth in the upcoming years due to the increasing demand for renewable energy sources and growing focus on reducing greenhouse gas emissions.
Across 98 million tons (Mt) are produced per annum, almost all of them is produced from fossil fuels (either natural gas or coal). The
Another driver of the renewable methanol market is the growing demand for chemicals and materials that are derived from renewable sources. Methanol is a key building block for a wide range of chemicals and materials, including plastics, resins, adhesives, and solvents. As the demand for these products continues to increase, it will the propel the demand for renewable methanol. Governments around the world are also playing a significant role in driving the growth of the renewable methanol market. Many countries have implemented policies and regulations that incentivize the use of renewable energy sources and discourage the use of fossil fuels. This has created a favorable market environment for renewable methanol and other clean energy sources and increasing the market share of global renewable methanol market in future.
Growing Demand of Green Fuels from Transportation Sector is Driving the Demand
Rising Demand from Power Generation as a Feedstock Driving the Renewable Methanol Demand
Growing demand from Industry as a feedstock is fueling the Global Renewable Methanol Market
For example, in 2020, BioMCN announced plans to build a new renewable methanol plant in the Netherlands, while Carbon Clean Solutions is building a new plant in the United States.
Recent Developments
- Carbon
Clean Solutions Ltd is
building a new renewable methanol plant in the United States, with a planned
capacity of 10,000 tons per year. The plant will use carbon capture technology
to produce renewable methanol from industrial emissions.
- In Sweden, Scandinavian
Biogas Fuels International AB is building a new facility to produce
renewable methanol from biogas. The plant will have a capacity of 6,000 tons
per year and is expected to be operational in 2023.
- In Iceland, Carbon Recycling
International Ltd. operates a renewable methanol plant that converts carbon
dioxide emissions into renewable methanol. The plant has a capacity of 4,000
tons per year and has been in operation since 2012.
- LanzaTech
Inc is
planning to build a new renewable methanol plant in China, in partnership with
the Chinese Academy of Sciences. The plant will use LanzaTech's carbon capture
technology to produce renewable methanol from steel mill emissions.
Download Free Sample Report
Market Segmentation
Company Profiles
|
Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historic
Data
|
2018 –
2021
|
|
Estimated
Year
|
2023
|
|
Forecast
Period
|
2024
– 2028
|
|
Quantitative
Units
|
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
|
|
Report
coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments
covered
|
·
Feedstock
·
Application
·
End-User Industry
|
|
Regional
scope
|
North America, Europe, Asia Pacific, South America, Middle
East & Africa
|
|
Country
scope
|
United States, Mexico, Canada, France, Germany, United Kingdom,
Spain, Italy, France, China, India, South Korea, Japan, Australia, Brazil,
Argentina, Colombia, South Africa, Saudi Arabia, UAE
|
|
Key
companies profiled
|
Advanced Chemical Technologies, BASF SE, Carbon Recycling
International (CRI) llc, OCI N.V., thyssenkrupp AG, European Energy AS,
Orsted AS, Proman AG, WASTEFUEL, Enerkem
Inc., Carbon Clean Solutions Ltd, Scandinavian Biogas, LanzaTech Inc
|
|
Customization
scope
|
10% free report customization with purchase. Addition or alteration
to country, regional & segment scope.
|
|
Pricing
and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
