Global Renewable Methanol Market is estimated to be US$ 5.77 billion by 2030 with a CAGR of 5.30%

LOS ANGELES - March 30, 2022 - PRLog -- Renewable Methanol Market accounted for US$ 3.45 billion in 2020 and is estimated to be US$ 5.77 billion by 2030 and is anticipated to register a CAGR of 5.30%. Methanol fuel is an alternate biofuel for combustion and other engines, either together with gasoline or independently.

Key Highlights:

• In 2021, GAIL India's top company will foray into hydrogen generation and take the acquisition route to scale up its renewable energy portfolio as it pivots business beyond natural gas to align with energy transition being witnessed across the globe.

Analyst View:

Increasing adoption of renewable methanol as an alternative energy source is a major factor drive growth of the global renewable methanol market. In addition, rising environmental concerns associated with the high emission of carbon-di-oxide by use of non0-renewable fossil fuels is a factor driving demand for renewable source of energy and in turn fuelling growth of the global market. Furthermore, growing demand for renewable methanol by various industries such as paint and coating, chemical, and automotive is another factor boosting growth of the global renewable methanol market.

To know the upcoming trends and insights prevalent in this market, click the link below:

https://www.prophecymarketinsights.com/market_insight/Global-Renewable-Methanol-Market-By-616

Key Market Insights from the report:

The Global Renewable Methanol Market accounted for US$ 3.45 billion in 2020 and is estimated to be US$ 5.77 billion by 2030 and is anticipated to register a CAGR of 5.30%. The Global Renewable Methanol Market is segmented based on the source, application, end-user and region.

• By Source, the Global Renewable Methanol Market is segmented into Municipal Waste, Biomass, and Industrial Waste.
• By Application, the market is segmented into Formaldehyde, MTBE, Gasoline, Dimethyl Ether, and Solvents.
• By End-user, the market is segmented into Construction, Chemicals, Transportation, and Power Generation.
• By Region, the Global Renewable Methanol Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America holds the largest share in the renewable methanol market.

Competitive Landscape:

The Key players operating in the global renewable methanol market includes Varmlands Methanol AB, Carbon Recycling International Inc., Chemrec Inc., Mitsubishi Chemicals Holdings, PETRONAS, Statoil, Blue Fuel Energy, BioMCN, BASF SE, and Methanex Corporation.

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