The market is expected to increase as a result of rising demand for renewable methanol as a motor fuel in the transportation sector. Seaweed, landfill debris, wood waste, and natural gas can all be used to make renewable methanol. Compared to petrol, it cuts carbon emissions by 15–25%. Due to its high octane rating, renewable methanol is utilised as motor fuel and also has the highest hydrogen-to-carbon ratio when compared to liquid fuel.
Growing demand for renewable methanol is being driven mostly by rising environmental concerns brought on by climate change and global warming. The market for renewable methanol is also being influenced by the depletion of natural resources brought on by an increased reliance on fossil fuels and the fluctuating cost of natural gas and crude oil.
The market for Renewable methanol is anticipated to reach around US$ 266.2 million in sales by the end of 2027, expanding at a CAGR of 6.5% over the forecast period (2020-2027).
Leading Companies in the Renewable Methanol Industry:
1. Methanex Corporation: Methanol is produced and sold by Methanex Corp. Customers of Methanex employ methanol as a feedstock to create a variety of finished goods, such as adhesives, foams, solvents, and windscreen washer fluids. Additionally, the company sells its goods to the oil refining sector, where methanol is combined with petrol to create high-octane fuel or is mixed as a component of biodiesel. Methanex uses a global supply network to deliver its goods, which includes trucks, pipelines, tankers, barges, rail trains, and port terminals. China is the region with the highest revenue production. Created in 1968. Headquarter location in Canada. Methanex publishes its 2020 Sustainability Report, coordinated with SASB.
2. Carbon Recycling International: A producer of renewable methanol sought to create innovative solutions that would use renewable energy and waste gases to produce useful goods. Users can manufacture renewable methanol from carbon dioxide and hydrogen for more sustainable fuels, chemicals, and goods by using the company's renewable methanol, which is produced from carbon dioxide, hydrogen, and electricity for energy storage, fuel applications, and efficiency enhancement. Established in 2006. Head office in Iceland.
3. BioMCN: Producer of biofuels and biomethanol. The business sells biomethanol petrol and biofuel blend products. On an industrial scale, bio-methanol is created from renewable resources. Created in 2006. Head office in the Netherlands.
4. Enerkem: Renewable methanol and ethanol from non-compostable, non-recyclable municipal solid waste were supposed to be made available at full commercial scale by a producer of green chemicals and clean fuels from trash. With the help of commercially available catalysts, the company's patented technology converts the carbon found in non-recyclable waste like garbage into pure synthesis gas, which is then converted into biofuels and chemicals. This allows customers to diversify their energy sources and create environmentally friendly everyday products. Established in 2000. Head office in Canada. Repsol becomes a shareholder in Enerkem, a leader in the waste-to-renewable-fuels and chemicals industry.
- Chemrec Inc: creator of the biofuels manufacturing technology. Utilising the company's unique black liquor gasification technique, pulp and paper mills may be transformed into biorefineries. Utilising the company's processing technique, a synthetic petrol product is produced that can be transformed into low-carbon chemicals and fuels, like synthetic petrol and diesel. Created in 1989. Swedish headquarters are in Stockholm. Since Benvic entered the portfolio of Italian Investment Company Investindustrial in 2018, the Chemres transaction is the seventh add-on acquisition for Benvic.
- VarmlandsMethanol: creator of the biofuels manufacturing technology. Utilising the company's unique black liquor gasification technique, pulp and paper mills may be transformed into biorefineries. Utilising the company's processing technique, a synthetic petrol product is produced that can be transformed into low-carbon chemicals and fuels, like synthetic petrol and diesel. Created in 1989. Swedish headquarters are in Stockholm. Since Benvic entered the portfolio of Italian Investment Company Investindustrial in 2018, the Chemres transaction is the seventh add-on acquisition for Benvic.
*Definition: Renewable methanol is a low carbon and net carbon neutral liquid chemical and fuel produced from sustainable biomass, often called bio-methanol, or from captured carbon dioxide and hydrogen produced from renewable electricity, referred to as e-methanol.
