The global Renewable Methanol Market is expected to reach USD 30.74 Billion by 2028, according to a new report by Reports and Data. Renewable Methanol is used as an alternative fuel for transportation, owing to its ease of distribution and availability, and combustion-efficiency across the globe. It is a high octane fuel that allows effective performance in internal combustion (IC) engines. Engines optimized for Renewable Methanol-fuel could deliver an energy-efficiency gain of around 50.0% over a standard gasoline engine in a light-duty automobile. Moreover, it can be used in IC engines as a substitute for diesel fuels.  It has been found that Heavy-duty dual-fuel engines functioning on diesel and Renewable Methanol fuels can enhance efficiency and substantially reduce emissions for buses, trucks, and off-road vehicles.

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Top Leading Players:  SABIC, LyondellBasell Industries Holdings BV, Methanex Corporation, PETRONAS, Renewable Methanol Holdings Limited, BASF SE, Celanese Corporation, Mitsubishi Gas Chemical Company Inc., Mitsui Co. Ltd., and Enerkem, among others.

Demand of Renewable Methanol:

Renewable Methanol, also known as wood alcohol, is a versatile chemical used in a wide range of industrial applications, including as a feedstock for chemical synthesis, a solvent, and a fuel. The demand for Renewable Methanol has been growing steadily over the years due to several factors.

1. Chemical production: Renewable Methanol is a key feedstock for the production of numerous chemicals such as formaldehyde, acetic acid, and olefins. As the demand for these chemicals increases, the demand for Renewable Methanol also increases.
2. Energy: Renewable Methanol is also used as a fuel for vehicles and in fuel cells. The demand for Renewable Methanol as a fuel is increasing due to its clean-burning properties and potential to reduce greenhouse gas emissions.
3. Construction: Renewable Methanol is used in the construction industry as a solvent for adhesives, coatings, and paint. The demand for Renewable Methanol in this sector is expected to increase due to the growth of the construction industry worldwide.
4. Emerging markets: As developing countries continue to grow their economies, the demand for Renewable Methanol as a feedstock for chemicals and as a fuel is expected to increase.
5. Plastic recycling: Renewable Methanol can be used to recycle plastics, which is becoming increasingly important as concerns about plastic waste and pollution grow.

Overall, the demand for Renewable Methanol is expected to continue to increase in the coming years due to the above factors. However, the supply of Renewable Methanol is also dependent on the availability of feedstocks such as natural gas, coal, and biomass, which could impact its growth. Additionally, there are environmental concerns associated with the production and use of Renewable Methanol, which may affect its long-term demand.

Further key findings from the report suggest:

• By type, non-renewable Renewable Methanol dominated the market in 2018 and is estimated to grow at a rate of 2.4% in the forecast period. Renewable Methanol is a vital and versatile chemical for the chemical industry, primarily used in the production of chemicals, including solvents and anti-freezes, additives for gasoline, or biodiesel production process.
• By feedstock, natural gas contributed to a larger market share in the forecast period and is likely to grow at a rate of 2.7% in the forecast period.
• By application, formaldehyde accounted for the largest market share in 2018 and is anticipated to witness a growth rate of 2.3% in the period 2019-2027. It is an essential used in plywood for home construction, window/door insulation for modern airliners, and fuel system components for automobiles. Formaldehyde offers superior utility for consumers in the form of consistent quality, extended use, and reliable performance safety.
• By industry vertical, the automotive industry dominated the market in 2018 and is expected to witness a CAGR of 2.5% in the forecast period.
• The market in the Asia Pacific region held the largest market share in 2018 and is likely to experience a growth rate of 3.0% in the period 2019-2027. The market dominance of the APAC is attributed to the surging demand for Renewable Methanol and its derivatives from the end-user industries in the region.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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Market Segmentation:

The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.

The global Renewable Methanol market is segmented into:

Type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• No-Renewable Renewable Methanol
• Renewable Renewable Methanol

Feedstock Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• Coal
• Natural Gas

Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• Formaldehyde
• Acetic Acid
• Methyl Tert-Butyl Ether (MTBE)
• Dimethyl Ether (DME)
• Fuel Blending
• Olefins
• Biodiesel
• Others

Industry Vertical Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• Automotive
• Construction
• Electronics
• Paints Coatings
• Others

Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market?
• What kind of strategic business plans have they made?

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