Renewable Methanol Market Is Expected to Expand

According to an analysis, provided by US-based Future Market Insights, global sales of renewable methanol is estimated to be valued at 133.3 million US-Dollar by the end of 2016.

Renewable methanol is a second generation biofuel and is derived from renewable sources such as biomass, industrial waste, municipal waste and industrial CO2. It is used as a transportation fuel after blending it with other chemicals. As reported, the main reason for the rise in demand is the implementation of regulations, especially in Europe and North America, that over 10 percent of the transport fuel should come from renewable sources by the end of 2020. On the basis of primary sources, the global renewable methanol market can be segmented into biomass, industrial waste, municipal waste and others; and on the basis of end-use application into formaldehyde, MTBE (Methyl Tertiary Butyl Ether), gasoline, dimethyl ether, solvents and others.

The biomass primary source segment is expected to hold a significant share in the market and is estimated to register the compound annual growth rate (CAGR) of 7.0 percent in terms of value over the forecast period. The segment is expected to create an incremental opportunity of 53.7 million US-Dollar during 2016 to 2026, according to Future Market Insights. The MTBE end-use application segment is anticipated to register the CAGR of 8.1 percent in terms of value between 2016 and 2026. This segment is expected to gain traction over the forecast period due to an increasing demand for fuel blends from the automotive industry.

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GR 32017