Renewable Methanol Market Size- By Feedstock, By Application, End Use Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Global Renewable Methanol Market Overview:

According to SPER Market Research, the Global Renewable Methanol Market is estimated to reach USD 7.07 billion by 2032 with a CAGR of 6.04%.

Renewable methanol is a type of methanol made from renewable resources such as biomass, waste materials, and CO2 from industrial processes or the atmosphere. Apart from conventional methanol, which is typically derived from fossil fuels such as natural gas or coal, renewable methanol is regarded as a low-carbon and sustainable alternative. It is a crucial component in the manufacturing of biodiesel, which may then be used as a chemical feedstock or mixed with car fuel. Carbon dioxide is used instead of carbon monoxide in the manufacture of renewable methanol, which is comparable to that of conventional methanol. Because to the high hydrogen to carbon ratio, it has a high higher octane and reduces greenhouse gas emissions. The increase in carbon dioxide emissions together with strict environmental laws to lessen the effects of carbon dioxide are what are fuelling the growth of the worldwide renewable methanol market.

Moreover, it is anticipated that the production of renewable methanol from agricultural and industrial waste would present the industry with chances for future expansion. The main source of renewable methanol production is biomass. As a result of its use in different solvents and chemical feedstock, the market is anticipated to generate profitable growth prospects. Additionally, with increased demand from the automotive and transportation end-use industries, high-octane fuel ethers used in the manufacturing of biodiesel, such as Methyl-tert-butyl-ether (MTBE), are projected to see expansion.

Impact of COVID-19 on the Global Renewable Methanol Market:

The growth of the methanol industry has been negatively impacted by the COVID-19 pandemic, as building operations have been interrupted and expansion of plants and factories has been halted. The closure of national and international borders has also affected the efficiency of value chains in various sectors, including construction, paints & coatings, electronics, and packaging. Despite these challenges, the demand for methanol products in the pharmaceutical sector is expected to drive market expansion in the coming years.

Government restrictions and prohibitions implemented in response to the COVID-19 pandemic constrained the expansion of the methanol industry, due to factors such as a lack of raw materials, restricted working hours and labor force, decreased demand, and limited financial resources.

Scope of the report:

Report Metric Details:

• Market size available for years: 2019-2032

• Base year considered: 2021

• Forecast period: 2022-2032

• Segments covered: By Feedstock, By Application, By End Use

• Regions covered: Asia Pacific, Europe, Middle East and Africa, North America, Latin America

• Companies Covered: Advanced Chemicals Technologies, BASF SE, Carbon Recycling International (CRI), ENERKEM, Fraunhofer, Innogy, Nordic Green, OCI N.V., SERENERGY A/S, SODRA

Global Renewable Methanol Market Segmentation:

• By Feedstock: Based on the Feedstock, Global Renewable Methanol Market is segmented as; Agricultural Waste, Forestry Residues, Municipal Solid Waste, Co2 Emissions, Others

• By Application: Based on the Application, Global Renewable Methanol Market is segmented as; Formaldehyde, Dimethyl ether, Gasoline. Solvents, others

• By End Use: Based on the End Use, Global Renewable Methanol Market is segmented as; Chemicals, Transportation, Power Generation, Others

• By Region: Europe and North America are anticipated to become important markets for renewable methanol. The tight government regulations on carbon emissions in the two regions, Regulations in Europe requiring the use of certain products and their mixes in the automotive sector are also anticipated to increase demand for local products.