Global Bio Methanol Market - WishTree Insight

Global Bio Methanol Market by End-User (Automotive, Solvents, Construction, Electronics, and Others), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The Bio Methanol market size was valued at USD 50 million in 2021, expanding at a CAGR of 30.1% during the forecast period, 2021–2031. The market's growth is attributed to the strong demand for electronics coupled with the need for clean energy.

INTRODUCTION

Bio methanol is known as renewable methanol which is chemically identical to conventional methanol. A bio-methanol production process uses fewer fossil fuels and emits fewer greenhouse gases than conventional methanol production, and renewable feedstocks can be converted into bio-methanol by gasification. Methanol is a volatile, flammable, toxic, and colorless liquid used as an antifreeze solution and fuel. Bio methanol is a form of methanol that is manufactured from biomass or other biodegradable waste products. It is chemically similar to methanol as it is manufactured from biogas. It has the same properties as methanol used as fuel as feedstock and produces other biofuels. Bio methanol is used as a fuel that lowers the pollution in the environment and reduces pressure over other fuels such as natural coal and gas.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing demand for bio methanol is a key driver to fuel the market.
• The growth in the economy and rise in population is anticipated to be the market growth.
• Various government policies are also driving the global bio-methanol market.
• The rising electronic product consumption, high performance, and the demand for long battery life are expected to spur market growth.
• Expensive R&D and technical limitations are expected to hamper the market of bio methanol.

Scope of the Report

Market Segment Insights

The automotive segment is projected to register a considerable CAGR

Based on end-user the bio methanol market is divided into automotive, solvents, construction, electronics, and others. The automotive segment is expected to expand rapidly during the forecast period. The growth of the segment is attributed to growth in the economy and demand for bio methanol as a coolant and fuel for internal combustion in engines.

The Asia Pacific region is anticipated to constitute a key market share

In terms of regions, the bio methanol market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of the Asia Pacific region is expected to constitute a key share of the market during the projected period. The growth in the region is attributed to the rising population and growth in the economy and various regulations by governments due to environmental concerns. However, the market of the middle east and Latin America region is anticipated to expand at a steady rate during the forecast period.

Competitive Landscape

Key players competing in the bio methanol market are Mitsubishi Chemical Corporation (Japan); BASF SE (German); DuPont (U.S.); BioMCN (Netherland); Bioamber Inc. (Canada); Shandong Longlive Bio-technology Co., Ltd (China).

FAQs

Mention the market size of the bio methanol in 2021.

The market size of bio methanol in 2021 was USD 50 million.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 30.1%.

What are the key drivers of the market?

The market's growth is attributed to the strong demand for electronics coupled with the need for clean energy.

Mention the key players in the market.

Mitsubishi Chemical Corporation (Japan); BASF SE (German); DuPont (U.S.); BioMCN (Netherland); Bioamber Inc. (Canada); Shandong Longlive Bio-technology Co., Ltd (China)