Market Research Report
Global Renewable Methanol Market Forecast 2019-2028
|Published by||Inkwood Research||Product code||951281|
|Published||Content info||188 Pages
Delivery time: 2-3 business days
|Global Renewable Methanol Market Forecast 2019-2028|
|Published: July 27, 2020||Content info: 188 Pages||
The global renewable methanol market is projected to register a CARG of 2.23% in terms of revenue and 1.77% in terms of volume, during the forecast period, 2019-2028. The shifting trend towards a sustainable energy source, strict government rules and regulations, and the availability of renewable methanol are among the main factors propelling the market growth.
Renewable methanol can be manufactured from several sources. It thus becomes vastly applicable in various industrial activities. Conventionally, it can be produced through carbon dioxide emissions from industrial activities, along with renewable energy sources and municipal & agricultural waste. The low raw material cost and production cost of renewable methanol make it superior to conventional fuel. The stringent government regulations in terms of greenhouse gas emissions are set to propel the market growth for renewable methanol.
Methanol is naturally found in volcanic gases, decaying vegetation, and wood. It is also emitted from diesel engines and gasoline from burning plastics and trash. According to the EPA (Environmental Protection Agency), the breathing of methanol can have several long-term and short-term impacts. Short-term exposure to methanol through breathing can cause acid in the blood, which could further result in neurological damage, death, dizziness, seizures, etc. Hence, health concerns are estimated to hinder the growth of the market.
The geographical segregation of the global renewable methanol market is on the basis of the assessment of North America, Asia Pacific, Europe, and the rest of the world. The Asia Pacific dominated the global market in 2019 in terms of revenue. The rising use of methanol as a transportation fuel in countries like China is estimated to increase the demand for renewable methanol in the region.
The market players are competing on technology, price, product features, and offerings through several competitive strategies, primarily through joint ventures. Some of the competent companies in the market include, BASF SE, Fraunhofer, Enerkem, Carbon Recycling International (CRI), Advanced Chemical Technologies, etc.
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