Sarasota, FL -- (SBWIRE) -- 03/15/2019 -- Zion Market Research has published a new report titled "Renewable Methanol Market by Primary Source (Municipal Waste, Industrial Waste, Biomass, and Others), by Application (MTBE, Solvents, Dimethyl Ether, Gasoline, Formaldehyde, and Others), and by End-User (Power Generation, Transportation, Chemicals, Construction, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025". According to the report, the global renewable methanol market was valued at approximately USD 140 million in 2018 and is expected to generate USD 210 million by 2025, at a CAGR of around 3.5% between 2019 and 2025.

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The renewable methanol has its application in various sectors, such as power generation, transportation, chemical manufacturing, etc. The production of renewable methanol is similar to conventional methanol, where carbon dioxide is substituted for carbon monoxide. Renewable methanol is fully miscible with conventional methanol and offers a highly scalable renewable liquid fuel and chemical pathway.

The exploitation of natural resources has caused high levels of greenhouse gas emissions and increased prices of crude oil. This has increased the consumption of renewable methanol. The conversion of agricultural and industrial wastage into renewable methanol has been driving the growth of the renewable methanol market globally. Biomass is the primary source for generating renewable methanol. It is expected to create new growth opportunities for this market, owing to its application in various solvents and chemical feedstock. High-octane fuel ethers, such as Methyl-tert-butyl-ether (MTBE), are used in the production of biodiesel will fuel product demand by automobile and transportation sectors. However, the production of bioethanol and agricultural feedstock's supply for biogas generation may restrain the global renewable methanol market over the estimated timeframe. On the other hand, wide feedstock availability for generating renewable methanol is contributing to market development for renewable methanol on a global scale, which will provide new growth opportunities for the key players operating in the renewable methanol market.

Based on the primary source, the global renewable methanol market is segmented into municipal waste, industrial waste, biomass, and others. The biomass segment is expected to grow at a high rate in the years ahead, due to its easy availability in the market. On the basis of application, the market is segmented into MTBE, solvents, dimethyl ether, gasoline, formaldehyde, and others. On the basis of end-user, the market is segmented into power generation, transportation, chemicals, construction, and others. The power generation segment is likely to grow considerably in the future, owing to the growing demand for renewable methanol for the production of electricity.

By region, Asia Pacific was the largest market for renewable methanol in 2018 and held the highest market share in terms of both revenue and volume. This growth can be attributed to the growing demand for energy and fuel that is backed by a growing population, which will boost the adoption of renewable processes and sources of energy generation. The North American renewable methanol market is expected to witness a notable rate of growth over the estimated time period, owing to the various key developments witnessed across the region.

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Some key players operating in the global renewable methanol market include The VärmlandsMetanol AB, Carbon Recycling International, Chemrec Inc., Mitsubishi Chemicals Holdings, PETRONAS, Statoil, Enerkem, Blue Fuel Energy, BioMCN, BASF, and Methanex Corporation.

This report segments the global renewable methanol market as follows:

Global Renewable Methanol market: Primary Source Analysis

Municipal Waste
Industrial Waste
Biomass
Others

Global Renewable Methanol market: Application Analysis

MTBE
Solvents
Dimethyl Ether
Gasoline
Formaldehyde
Others

Global Renewable Methanol market: End-User Analysis

Power Generation
Transportation
Chemicals
Construction
Others

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Global Renewable Methanol market: Regional Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa