The ‘Europe Renewable Methanol Market Price, Share, Size, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Europe renewable methanol market, assessing the market on the basis of its segments like feedstock, processing techniques, application, and major countries.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Europe Renewable Methanol Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): 96.92 KMT
• Forecast CAGR (2023-2028): 31.7%
• Forecast Market Size (2028): 483.65 KMT
Renewable methanol is witnessing a heightened demand in the automotive sector to fuel various automotive components such as internal combustion engines, fuel cells, and hybrid systems, among others. Hence, the increasing sale of passenger and commercial automobiles across the continent, coupled with the strong foothold of major automotive manufacturing companies, is driving the Europe renewable methanol market.
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The production of renewable methanol is convenient as it can be procured through industrial or agricultural waste. In this regard, renewable methanol is witnessing a heightened demand as an alternative to traditional fuel generation methods. Over the forecast period, the anticipated increase in demand for renewable methanol in the industrial sector is expected to bolster the Europe renewable methanol market.
Renewable methanol is crucial in the process of formaldehyde synthesis. Accordingly, the rising demand for formaldehyde across industries such as furniture, automotive, building and construction, and personal care, among others, is further propelling the market growth. Over the forecast period, the market is expected to be influenced by an increase in expansion of these sectors, especially in well-established economies such as Germany, France, and the United Kingdom.
Europe Renewable Methanol Industry Definition and Major Segments
Renewable methanol is a liquid chemical which is low in carbon and is produced from sustainable biomass. It can also be procured through industrial waste and is a critical component in the production of biodiesel which is utilised for several chemicals and downstream products.
Based on feedstock, the market is bifurcated into:
• CO2 and Hydrogen
By processing techniques, the market is segmented into:
• Reformer-Based Production From Biogas
• Production During The Pulping Process
• Production From CO2 and Hydrogen
On the basis of application, the market is divided into:
• Dimethyl Ether (DME)
• Methyl Tert-Butyl Ether (MTBE)
• Gasoline Blending
Based on country, the market is categorised into:
• United Kingdom
Europe Renewable Methanol Market Trends
The key trends in the Europe renewable methanol market include the increasing demand for gasoline across various sectors of the continent, such as the military and defence sector. Light combat aircrafts and small transport aircrafts use gasoline blending to maximise their operational efficiency which can be achieved by the application of renewable methanol. Growing research and innovation activities by major market players aimed towards producing fuel efficient vehicles are key trends of Europe renewable methanol market. Over the forecast period, the anticipated increase in the sale of hybrid new energy vehicles is likely to provide impetus to the market.
The United Kingdom and Germany are expected to witness stable growth in the methanol market in Europe due to the increasing applications of renewable methanol across various sectors such as furniture, construction, and automotive. The increasing export of German automotive components is likely to fuel the demand for renewable methanol in the coming years. Meanwhile, stringent regulations of governments in the region, such as Germany and France, aimed towards reducing their carbon footprint are crucial trends in the market. These regulations are also likely to encourage the use of renewable methanol to power light trucks, motorcycles, and sports utility vehicles, among others.
Key Market Players
The major players in the Europe renewable methanol market report are:
• Carbon Recycling International (CRI)
• Hy2gen AG
• OCI N.V.
• BASF SE
• Södra Skogsägarna
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.