Global Renewable Methanol Market is valued at approximately USD 3.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.8% over the forecast period. Renewable methanol is type of extreme-low carbon chemical compound derived from sustainable biomass, often known to as bio-methanol, or even produced from hydrogen and carbon dioxide. Renewable methanol is considered a second-generation methanol that usually obtained from renewable energy sources, especially from industrial wastage and biomass. It is a vital input for biodiesel production, that can be treated as a chemical feedstock or blended in auto fuels. The fabrication of renewable methanol is quite comparable to traditional methanol where carbon dioxide is replaced for carbon monoxide. It often has high-level octane rating, due to the high hydrogen to carbon ratio, and even assist in cutting down greenhouse effects on the atmosphere. Therefore, these factors are anticipated to leverage the demand for renewable methanol all over the world. Furthermore, a rise in carbon dioxide emissions coupled, along with the presence of stringent environmental regulations to reduce the carbon dioxide level are the few factors responsible for the CAGR of the market during the forecast period. According to the Carbon Brief Organization, the Indian Government has pledged to cut the intensity of its carbon emission by 33-35 percent and boost the renewable energy capacity to 40 percent by 2030. This, in turn, is expected to strengthen the market growth all over the world. Moreover, the recent outbreak of COVID-19 around the world has adversely affected the renewable methanol industry as the manufacturing operations are temporarily suspended due to the lockdown imposed by the government to prevent the spread of novel coronavirus. This has led to a shortage in demand for renewable methanol, thereby, inhibiting the market growth at least in the recent year. However, the limited availability of infrastructural setups is one of the major factors restraining the market growth over the forecast period.
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The regional analysis of the global Renewable Methanol market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the extensive presence of consumers of renewable methanol, along with the significant investment made by the government in the renewable sector in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period, due to the increased measures to cut down the carbon emission level in the environment across the region.
Major market player included in this report are:
Advanced Chemical Technologies
Carbon Recycling International (CRI)
Renewable Methanol Market
Biodegradable Plastics Market
Aerosol Cans Market
Offshore Decommissioning Market
Waste Management Market
Green Petroleum Coke and Calcined Petroleum Coke Market
Catalyst Regeneration Market
United States Printing Inks Market
Ballast Water Treatment Market