Fior Markets launched a study titled “Renewable Methanol Market by Source (Municipal Waste, Industrial Waste, Biomass, Others), Application, End User, Regions”,and Global Forecast 2018-2025.
The global renewable methanol market is expected to grow from USD 172.63 Million in 2017 to USD 229.36 Million by 2025, at a CAGR of 3.62% during the forecast period from 2018-2025. Worldwidefocus on reducing the carbon dioxide emissions along with strict environmental regulations to decrease the impact of greenhouse effect are fuelling the demand for the renewable methanol.
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Biomass segment had a market value of USD 80.81 million in 2017
Source segment is divided into municipal waste, industrial waste, biomass, and others. Owing to as abundant availability biomass in the form of agricultural wastes as well as the global emphasis on sustainably dealing with the agricultural waste, the biomass segment led the global renewable methanol market with USD 80.81 million revenue in 2017.
MTBE segment is anticipated to grow at a CAGR of 5.73% in 2018-2025
Application segment is categorized into formaldehyde, MTBE, gasoline, dimethyl ether, solvents, and others. On account of its application value in the in the production of biodiesel, and rising acceptance of biodiesel as an alternative environmentally friendly fuel for the automobiles, the methyl- tert- butyl- ether (MTBE) segment is projected to grow at the fastest CAGR of 5.73% over the forecast period. Due to its wide-ranging use in the paints & coatings and construction industry, the Formaldehyde application segment accounted for a robust market share in 2017.
Transportation segment had a market value of USD 68.04 million in 2017
End user is segmented into chemicals, transportation, power generation, and others. On the basis of factors such as growing utilization of renewable methanol in the production of biodiesel as well as worldwide focus on reducing the vehicle-borne carbon-di-oxide emissions, led transportation segment to dominate the global renewable methanol market with USD 68.04 million in 2017.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Increasing investment on the research and development activities, the presence of well-developed end user industry coupled with abundant availability biomass source were the factors that led North America region to emerge as the leading region in the global renewable methanol market with USD 65.47 million revenue in 2017. Whereas Asia Pacific region is projected to grow at an accelerated CAGR of 5.92% over the forecast period.
Major players in the global renewable methanol market areBioMCN, Carbon Recycling International Inc., Blue Fuel Energy, Chemrec AB, Varmsland Methanol, Methanex Corporation, Enerkemand, BASF SE, Petronas, Mitsubishi Chemicals, Statoil, and among others.
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