Insights into the Biomethanol Market: Share, Demand Trends, and Growth Analysis

MarkNtel Advisors analyses the growth rate of the Biomethanol market in the forecast period from 2024 to 2030. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the Biomethanol market, helping them make informed decisions.

Market Outlook – 2024-2030:

The Global Biomethanol Market size is estimated to grow at a CAGR of around 26.45% during the forecast period, i.e., 2024-30. The market growth is attributed to the rising importance of Biomethanol to mitigate climate change by substantially reducing or eliminating CO2 emissions, and in particular to the growing focus on holding the average global temperature at no more than 1.5°C. This implies achieving net carbon-neutral emissions across all sectors of the economy in the coming years. Low-emission methanol is expected to help in decarbonizing various sectors, particularly as a feedstock in the chemical industry or as a fuel in road or marine transport.

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Key Company Profiles

This report explores recent significant developments in the Biomethanol Market, focusing on the leading companies and their innovative profiles. The major players in the Biomethanol Market, featured in this report, include:

Carbon Recycling International (CRI)
Enerkem
Sodra
Veolia
BASF
Methanex Corporation
Mitsubishi Chemicals
IMC Enric Holdings Limited (CIMC ENRIC)
OCI Global
European Energy
Proman
Others

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Market Segmentation & Coverage

This research report by MarkNtel Advisors categorizes the Biomethanol Market to forecast revenues and analyse trends across each of the following sub-markets:

By Feedstock
- Agriculture Waste- Market Size & Forecast 2019-2030, (Kilo Tons)
- Municipal Waste- Market Size & Forecast 2019-2030, (Kilo Tons)
- Forestry- Market Size & Forecast 2019-2030, (Kilo Tons)
- Black Liquor- Market Size & Forecast 2019-2030, (Kilo Tons)
- Others (Industrial waste, marine biomass, etc.)- Market Size & Forecast 2019-2030, (Kilo Tons)

The municipal waste segment has held the major share in the Global Biomethanol Market during the historical years.

By Production Technology
- Gasification- Market Size & Forecast 2019-2030, (Kilo Tons)
- Reformer (Anaerobic Fermentation)- Market Size & Forecast 2019-2030, (Kilo Tons)
- Others (Syngas Fermentation, Pulping cycle in pulp mills, etc.)- Market Size & Forecast 2019-2030, (Kilo Tons)
By Application
- Transportation (Biodiesel Blend, Fuel additive)- Market Size & Forecast 2019-2030, (Kilo Tons)
- Power Generation- Market Size & Forecast 2019-2030, (Kilo Tons)
- Chemical & Solvents- Market Size & Forecast 2019-2030, (Kilo Tons)
- Others (building materials, plastics, etc.)- Market Size & Forecast 2019-2030, (Kilo Tons)
By End User
- Marine- Market Size & Forecast 2019-2030, (Kilo Tons)
- Power Utilities- Market Size & Forecast 2019-2030, (Kilo Tons)
- Agriculture- Market Size & Forecast 2019-2030, (Kilo Tons)
- Others (electronics, cosmetics, etc.)- Market Size & Forecast 2019-2030, (Kilo Tons)
By Region
- North America
- Latin America
- Europe
- Asia-Pacific
- Rest of the World

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What are the primary factors driving the growth of the Global Biomethanol Market?

Growing Adoption of Biomethanol in the Marine Industry – The marine industry is increasingly under pressure to lower its carbon footprint, most of which comes from the use of fossil fuels to run ocean transportation. According to the United Nations Conference on Trade and Development (UNCTAD) in 2022, the maritime sector presently accounts for about 2.8% of all global greenhouse gas (GHG) emissions, mainly due to its rapid growth, its dependence on carbon-intensive bunkers, and the sheer size of its business (more than 80% of the world merchandise trade by volume is transported by sea). As a result, governments across the globe are implementing regulations and policies for the marine industry to reduce carbon emissions. For instance:

In 2023, the International Maritime Organization has set new indicative checkpoints for international shipping to reach net-zero GHG emissions for 2030 (by at least 20%, striving for 30%) and 2040 (by at least 70%, striving for 80%).

This has led shipping companies to reduce their carbon emissions from their routine business operations. As a result, several marine companies, like Maersk, Evergreen, Cosco Shipping, etc., are setting targets to reduce emissions in the upcoming years. In addition to after-treatment systems, which allow the continued use of heavy fuel oils, the shipping industry has been looking into alternative fuels, among which renewable methanol is a primary alternative.

Biomethanol is considered one of the most significant alternative fuels for the marine industry. As a result, shipping companies like Maersk and Cosco Shipping Holdings are increasingly collaborating with and investing in biomethanol companies like European Energy, WasteFuel, Orstred, etc. to boost production and aim to increase their fleet’s future. These growing collaborations, combined with rising regulations, would foster market growth in the upcoming years.

Key Questions Addressed:

Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors’ market entry or exit decisions?

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