Renewable Methanol refers is a type of fuel produced from feedstock such as municipal waste, industrial waste, biomass and carbon dioxide. Renewable methanol find as application as fuel in transportation or as feedstock in chemicals. Renewable methanol produces emits low carbon emission and can be blended with motor fuels to improve their octane number.
Growing energy demand from various sources such as power, transportation and manufacturing and depleting reserves of fossil fuels has driven the need to switch for the alternate energy sources. Moreover, growing concerns over emission of greenhouse gases and favorable regulatory policies to mandatory blending of 10% methanol in gasoline used in automobiles especially in U.S., Canada and China to promote the usage of renewable methanol are expected to fuel the growth of global renewable methanol market over the forecast period. Further, methanol properties such as high octane number as compared to normal gasoline is another factor promoting consumption of renewable methanol. However, factors such aslack of infrastructure for renewable methanol production and feedstock availability is expected to remain a challenge in many regions which in turn is expected to hamper the growth of renewable methanol market during the forecast period (2016-2023).
Asia Pacific especially China is anticipated to be the largest market for renewable methanol in 2016 owing to increasing production in the regions coupled with regulatory policies for mandatory blending in motor fuels. Followed by it, North America is expected to be the second largest market for renewable methanolin 2016due to favorable regulatory policies coupled with availability of infrastructure in the region. Europe is projected to gain significant revenue share in global renewable methane market by 2023 owing to increasing production of renewable methanol along with favorable regulatory policies such as European Union's renewable energy directives making it mandatory use of renewable methanol blending in fuels.
The leading players identified across the value chain of renewable methanol market are focusing on backward integration across the value chain in order to eliminate the challenges for feedstock availability.
Global renewable methanol market is segmented on the following basis:
Key players identified across the value chain in the renewable methanol market include but are not limited to:
BioMCN, Blue Fuel Energy, CARBON RECYCLING INTERNATIONAL, Chemrec AB, VärmlandsMetanol, Methanex Corporation, Enerkemand others.
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