KEY FINDINGS
The global renewable methanol market is forecasted to register a CAGR of 3.16% in terms of revenue and 2.08% in terms of volume during the estimated years. The market growth is attributed to factors such as the availability of renewable methanol, stringent government rules and regulations, and the shifting trend towards sustainable energy sources.
MARKET INSIGHTS
Renewable methanol is produced from sustainable raw materials, including municipal and industrial waste, carbon dioxide, and biomass. Same as conventional methanol, renewable methanol can also be used as a fuel in transportation as well as a feedstock in chemicals.
The shifting trend toward sustainable and renewable energy is anticipated to fuel the growth of the global renewable methanol market. The production of renewable methanol bridges the gap between renewable sources and conventional fossil fuels. Moreover, harnessing excess energy from renewable resources, such as solar and wind, is also projected to augment the demand for manufacturing renewable methanol. In addition, when compared to conventional fossil fuels, renewable methanol minimizes carbon dioxide emissions by approximately 95% and diminishes nitrogen oxide emissions by nearly 80%, thereby further propelling the market growth.
REGIONAL INSIGHTS
The global renewable methanol market growth analysis entails the assessment of North America, the Asia-Pacific, Europe, and the Rest of World. North America is set to grow with the highest CAGR. The extensive demand for renewable fuels in the region, especially within the industrial sector, is projected to drive the regional market’s growth. Several regulations are underway and are anticipated to facilitate the research efforts established for renewable methanol production.
COMPETITIVE INSIGHTS
The global market is majorly fragmented, with the top eight companies acquiring approximately 40% of the revenue share. The companies compete on the basis of product features and offerings, technology, and price, via multiple competitive strategies, primarily through joint ventures. Thus, the overall degree of competition in the global market is moderately high.
Some of the leading firms operating in the market are Carbon Recycling International, Advanced Chemical Technologies Inc, Enerkem, BASF SE, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments