Market Research Report
Europe Renewable Methanol Market Forecast 2019-2028
|Published by||Inkwood Research||Product code||951279|
|Published||Content info||122 Pages
Delivery time: 2-3 business days
|Europe Renewable Methanol Market Forecast 2019-2028|
|Published: July 27, 2020||Content info: 122 Pages||
The Europe renewable methanol market is estimated to register a CAGR of 2.75% in terms of revenue, and 2.31% in terms of volume, across the forecast period of 2019 to 2028. The key factors driving market growth include, increased electricity generation from renewable energy resources, and the growing need for formaldehyde production.
The Europe renewable methanol market growth is assessed by studying Sweden, France, the United Kingdom, Denmark, Russia, Germany, Italy, and the rest of Europe. As one of the most prominent renewable methanol markets, Germany harbors nearly 90% of Europe's methanol industries. It is also one of the largest manufacturers of formaldehyde in the region. Most of the formaldehyde produced is utilized to manufacture phenol-formaldehyde resins, urea-formaldehyde resins, and polyoxymethylene. As a result, the country's market is at a constant rise, owing to the chemical compound's growing demand. The need for such derivatives is continually growing as they are used within the wood processing sector, for plywood boards, car panels, and laminated boards. Consequently, the region's demand for renewable methanol is projected to increase.
As the energy transition within the German electricity industry has already advanced substantially, the heat and transport sectors still possess vast growth potential. Besides, as a storage medium, renewable fuels like bio methanol have the added advantage of being independently generated and stored for a long time. As a result, methanol can be optimized as fuel for mobility, electricity generation, and heat. Therefore, these factors are attributed to propelling the market growth in the region
Some of the market's major companies are BASF SE, Innogy, Carbon Recycling International (CRI), Serenergy A/S, Atlantic Methanol, etc.
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