MarkNtel Advisors – Leading Market Research Company found Global Biomethanol Market is expected to reach 26.45% CAGR Growth By 2030.

This report provides a comprehensive analysis of the Global  Biomethanol Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.

Comprehensive Analysis of the Biomethanol Market

Base Year: 2023

Forecast Years: 2024-2030

Historical Years: 2019-2022

If you’re interested in the assumptions considered in this study, you can download the PDF brochure- - https://www.marknteladvisors.com/query/request-sample/biomethanol-market.html

Scope of the Biomethanol Market Report:

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.

Which prominent factor is expected to drive the Biomethanol Market during 2024-30?

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.

What are the different Segment Available in the Biomethanol Market?

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)

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.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/biomethanol-market.html

Leading Biomethanol companies operating in the Market

• 1. Carbon Recycling International (CRI)
• 2. Enerkem
• 3. Sodra
• 4. Veolia
• 5. BASF
• 6. Methanex Corporation
• 7. Mitsubishi Chemicals
• 8. IMC Enric Holdings Limited (CIMC ENRIC)
• 9. OCI Global
• 10. European Energy
• 11. Proman
• 12. Others.

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