Renewable Methanol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Renewable Methanol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global renewable methanol market size reached US$ 3.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.61% during 2023-2028.

Renewable methanol (CH3OH) is an organic compound produced from unconventional energy sources and renewable feedstocks. It is derived from sustainable biomass, such as industrial, agricultural, forest, and municipal waste, or synthesized using green hydrogen and carbon dioxide (CO2). Renewable methanol is widely used in plastics for packaging, glues, adsorbents, diapers, paints, adhesives, solvents, and biodiesel production. Furthermore, it is an excellent industrial solvent and is widely used as a feedstock in the chemical industry to produce formaldehyde, dimethyl ether (DME), and methyl tertiary butyl ether (MTBE). In comparison to conventional methanol, renewable methanol is an ultra-low carbon chemical with a high-octane rating that assists in mitigating various environmental concerns. As a result, it finds extensive applications across the chemical, transportation, power generation, and construction industries.

Renewable Methanol Market Trends:
The increasing environmental consciousness among the masses is one of the key factors driving the market growth. Renewable methanol helps in reducing emission levels of particulate matter and greenhouse gases (GHG), such as carbon dioxide, nitrous oxide, and sulfur dioxide. Furthermore, rising product utilization as a gasoline additive and substitute due to high octane rating, knocking resistance, and oxygen content is acting as another growth-inducing factor. Additionally, the introduction of microwave and non-thermal plasma and magnetic induction-based reactors for selective conversion of carbon dioxide to renewable methanol at minimum energy consumption and lower production costs is providing an impetus to market growth. Moreover, the implementation of various government initiatives and international agreements to reduce pollution and achieve a climate-neutral world is creating a positive outlook for the market. Other factors, including the increasing demand for formaldehyde production, shifting trends toward sustainable energy sources, and widespread compound utilization as marine fuel, are anticipated to drive the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global renewable methanol market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on feedstock, application and end use industry.

Breakup by Feedstock:

Agricultural Waste
Forestry Residues
Municipal Solid Waste
Co2 Emissions
Others

Breakup by Application:

Formaldehyde
Dimethyl Ether (DME) and Methyl tert-Butyl Ether (MTBE)
Gasoline
Solvents
Others

Breakup by End Use Industry:

Chemicals
Transportation
Power Generation
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Advanced Chemical Technologies, Advent Technologies A/S, BASF SE, Blue Fuel Energy Corporation, Carbon Recycling International, Enerkem, Methanex Corporation, Methanol Holdings (Trinidad) Limited (Proman AG), Nordic Green Aps, OCI N.V. and Södra Skogsägarna.

Key Questions Answered in This Report

1. What was the size of the global renewable methanol market in 2022?
2. What is the expected growth rate of the global renewable methanol market during 2023-2028?
3. What are the key factors driving the global renewable methanol market?
4. What has been the impact of COVID-19 on the global renewable methanol market?
5. What is the breakup of the global renewable methanol market based on the feedstock?
6. What is the breakup of the global renewable methanol market based on the application?
7. What is the breakup of the global renewable methanol market based on the end use industry?
8. What are the key regions in the global renewable methanol market?
9. Who are the key players/companies in the global renewable methanol market?