Sarasota, FL -- (SBWIRE) -- 10/31/2018 -- Global Renewable Methanol Market: Overview

Renewable methanol is basically a second-generation obtained from renewable sources of energy, generally from industrial waste and biomass. It is manufactured using non-food crop resources and renewable energy. Methanol has a wide range of applications in various sectors, such as chemical manufacturing, transportation, and power generation. The development and popularity of global renewable methanol market can be attributed to growing awareness related to climate change, which has led several countries to reduce their carbon dioxide emissions and adopt renewable sources of energy.

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Global Renewable Methanol Market: Growth Factors

The major growth driver in the global market for renewable methanol is the increase in the carbon dioxide emissions along with strict environmental regulations for diminishing the negative effects of carbon dioxide, which has generated the demand for renewable sources of energy. In addition, subsidies for gasifier systems and wide feedstock availability for generating renewable methanol are also contributing to the development of the market for renewable methanol on a global scale. The transportation and automotive industries' demand for biodiesel is increasing and high-octane fuel ethers, like MTBE, are utilized in manufacturing biodiesel. This is also fuelling the expansion of global renewable methanol market.

The production of bioethanol and agricultural feedstock's supply for generation of biogas might hamper the growth of global renewable methanol market's production and consumption in future.

Global Renewable Methanol Market: Segmentation

The global renewable methanol market can be divided based on end-use application, primary source, and end-users. Based on the end-use application, the renewable methanol market can be classified into MTBE, solvents, dimethyl ether, gasoline, and formaldehyde, among others. On the basis of the primary source, the renewable methanol market can be categorized into municipal waste, industrial waste, and biomass, among others. The biomass segment is anticipated to emerge as the most popular in the forecast years, due to biomass being among the primary sources for generating renewable methanol. Based on end-users, the renewable methanol market can be fragmented into power generation, transportation, chemicals, and construction, among others.

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Global Renewable Methanol Market: Regional Analysis

Based on regions, the global market for renewable methanol can be divided into five main regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The Asia Pacific region is projected to dominate the market for renewable methanol in the upcoming years. This is due to the growing demand for energy and fuel, which is backed by a growing population that is anticipated to propel the adoption of renewable processes and sources of energy generation. The North American region is anticipated to hold substantial shares in the global market for renewable methanol. This is due to the growing awareness about dangers related to climate change in the region, which has led to a decline in CO2 emissions. The European region is expected to show good growth in the market for renewable methanol, due to compulsory use of renewable methanol combination in automotive fuels.

Global Renewable Methanol Market: Competitive Players

The key market players of the global market for renewable methanol include Varmlandsmetanol AB, Carbon Recycling International, Chemrec Inc., Mitsubishi Chemicals Holdings, PETRONAS, Statoil, Enerkem, Blue Fuel Energy, BioMCN, BASF, and Methanex Corporation, among several others.

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Global Renewable Methanol Market: Regional Segment Analysis

North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa