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ASIA-PACIFIC RENEWABLE METHANOL MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

Asia-Pacific Renewable Methanol Market by Feedstock (Agricultural Waste, Forestry Residues, Municipal Solid Waste, CO2 Emission, Other Feedstocks) Market by Application (Formaldehyde, Dimethyl Ether (DME) & Methyl Tert-butyl Ether (MTBE), Gasoline, Solvent, Other Applications) Market by End-user (Chemical, Transportation, Power Generation, Other End-users) by Geography

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MARKET OVERVIEW

The Asia-Pacific renewable methanol market is expected to project a CAGR of 3.93% in terms of revenue as well as 2.74% in terms of volume during the forecast period, 2024-2032, capturing a revenue share of $xx million by 2032.

Key factors such as the rising use of methanol as a transportation fuel in developing countries like China, the collaborations between leading methanol technology providers, and the surging consumption of renewable methanol are set to present the regional market with lucrative growth opportunities. However, the Asia-Pacific renewable methanol market growth may be restrained due to the surging levels of CO2 emissions.

The Asia-Pacific renewable methanol market growth analysis includes the evaluation of Vietnam, Thailand, South Korea, Indonesia, Australia & New Zealand, Japan, India, China, and Rest of Asia-Pacific. The majority of the methanol supply in China is domestically produced. Nearly 66% of the country’s methanol feedstock is acquired from coal, while the remainder is produced from natural gas and cooking gas (a by-product of steel production). With abundant coal resources, China has also increased its capacity in order to manufacture methanol using coal as a feedstock. Moreover, lesser amounts of the country’s methanol supply are imported from the United States, the Middle East, South America, and Southeast Asia.

Asia-Pacific Renewable Methanol Market

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Given Indonesia’s vast expanse of various forest types, the study delved into the potential of utilizing these lands to generate biofuels sustainably, particularly in converting forest materials into methanol for energy production. Utilizing the annual above-ground forest biomass, an estimated 40 to 168 billion liters of bio-methanol could be generated for transportation fuel and to power fuel cells for electricity production.

When considering a conservative estimate of forest biomass availability, it was found that Indonesia could annually supply electricity to over 10 million households or around 12,000 villages, constituting 20% of the total rural villages in the country. Conversely, harnessing forest biomass at the upper end of the estimated availability and converting it to methanol for fuel cells could potentially provide electricity to over 42 million households annually, equivalent to approximately 52,000 villages or 86% of the total rural villages in Indonesia.

The Asia-Pacific renewable methanol market segmentation includes feedstock, application, and end-user. The end-user segment includes chemical, transportation, power generation, and other end-users. 

Renewable methanol is a versatile chemical capable of producing a diverse range of fuels and polymers. It is also one of the most immediate fuels utilized to manufacture bio-methyl tertiary butyl ether (MTBE) for increasing the octane levels in petrol. In the chemical industry, renewable methanol is used to make formaldehyde and acetic acid.

One of the top advantages of renewable methanol is its potential to minimize greenhouse gas (GHG) emissions from the transportation industry. Methanol, as a transportation fuel, can offer two core benefits over conventional fuels. These include lower tailpipe emissions in combustion and higher efficiency vehicle technologies.

Some of the key players operating in the Asia-Pacific renewable methanol market are BASF SE, SerEnergy A/S, Fraunhofer, etc.

SerEnergy, headquartered in Denmark, is a top developer and supplier of methanol-based fuel cell solutions across the world. With over 1,000 active units installed globally and more than 10 years of experience with pioneering fuel cell technology, the company has continued to deliver customized solutions to various customers since 2006.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2024-2032
Base Year2023
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million) and Volume (Kilotons)
Segments Analyzed
Feedstock, Application, and End-User
Countries AnalyzedVietnam, Thailand, South Korea, Indonesia, Australia & New Zealand, Japan, India, China, and Rest of Asia-Pacific
Companies AnalyzedAdvanced Chemical Technologies, BASF SE, Carbon Recycling International (CRI), Enerkem, Fraunhofer, Innogy, Nordic Green, OCI NV, SerEnergy A/S, Sodra, Uniper SE, Vertimass LLC

TABLE OF CONTENTS

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGYs
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON RENEWABLE METHANOL MARKET
    5. MAJOR MARKET FINDINGS
      1. RENEWABLE METHANOL GAINS TRACTION AS A CHEMICAL FEEDSTOCK
      2. GROWING USE AS A BLENDING COMPONENT IN FUELS
      3. GEOGRAPHIC EXPANSION BEYOND TRADITIONAL MARKETS
      4. INCREASED INVESTMENT IN R&D FOR PROCESS ENHANCEMENT
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. GROWING EMPHASIS ON REDUCING GREENHOUSE GAS EMISSIONS AND ACHIEVING CARBON NEUTRALITY
      2. ONGOING ADVANCEMENTS IN RENEWABLE ENERGY TECHNOLOGIES AND PROCESSES
      3. SUPPORTIVE REGULATORY FRAMEWORKS, SUBSIDIES, AND INCENTIVES
    2. KEY RESTRAINTS
      1. ESTABLISHMENT OF PRODUCTION PLANTS REQUIRES SIGNIFICANT UPFRONT CAPITAL INVESTMENT
      2. COMPETITION FROM FOSSIL-BASED METHANOL REMAINS STRONG
      3. LIMITED AVAILABILITY OF COST-EFFECTIVE FEEDSTOCKS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
      1. EXPANSION OF PRODUCTION CAPACITIES BY KEY PLAYERS
      2. GROWING PARTNERSHIPS TO DEVELOP INTEGRATED VALUE CHAINS
      3. FOCUS ON CARBON RECYCLING FOR SUSTAINABLE PRODUCTION
      4. RISING APPLICATION IN TRANSPORTATION SECTORS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
    4. MARKET MATURITY ANALYSIS
    5. MARKET CONCENTRATION ANALYSIS
    6. VALUE CHAIN ANALYSIS
      1. FEEDSTOCK ACQUISITION
      2. CONVERSION PROCESS
      3. DISTRIBUTION AND LOGISTICS
      4. END-USE APPLICATIONS
    7. REGULATORY FRAMEWORK
  5. MARKET BY FEEDSTOCK
    1. AGRICULTURAL WASTE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. FORESTRY RESIDUES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. MUNICIPAL SOLID WASTE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. CO2 EMISSION
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. OTHER FEEDSTOCKS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY APPLICATION
    1. FORMALDEHYDE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. DIMETHYL ETHER (DME) & METHYL TERT-BUTYL ETHER (MTBE)
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. GASOLINE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. SOLVENT
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. OTHER APPLICATIONS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. MARKET BY END-USER
    1. CHEMICAL
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. TRANSPORTATION
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. POWER GENERATION
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. OTHER END-USERS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  8. GEOGRAPHICAL ANALYSIS
    1. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. ASIA-PACIFIC RENEWABLE METHANOL MARKET DRIVERS
      3. ASIA-PACIFIC RENEWABLE METHANOL MARKET CHALLENGES
      4. KEY PLAYERS IN ASIA-PACIFIC RENEWABLE METHANOL MARKET
      5. COUNTRY ANALYSIS
        1. CHINA
          1. CHINA RENEWABLE METHANOL MARKET SIZE & OPPORTUNITIES
        2. JAPAN
          1. JAPAN RENEWABLE METHANOL MARKET SIZE & OPPORTUNITIES
        3. INDIA
          1. INDIA RENEWABLE METHANOL MARKET SIZE & OPPORTUNITIES
        4. SOUTH KOREA
          1. SOUTH KOREA RENEWABLE METHANOL MARKET SIZE & OPPORTUNITIES
        5. INDONESIA
          1. INDONESIA RENEWABLE METHANOL MARKET SIZE & OPPORTUNITIES
        6. THAILAND
          1. THAILAND RENEWABLE METHANOL MARKET SIZE & OPPORTUNITIES
        7. VIETNAM
          1. VIETNAM RENEWABLE METHANOL MARKET SIZE & OPPORTUNITIES
        8. AUSTRALIA & NEW ZEALAND
          1. AUSTRALIA & NEW ZEALAND RENEWABLE METHANOL MARKET SIZE & OPPORTUNITIES
        9. REST OF ASIA-PACIFIC
          1. REST OF ASIA-PACIFIC RENEWABLE METHANOL MARKET SIZE & OPPORTUNITIES
  9. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. PRODUCT LAUNCHES & DEVELOPMENTS
      2. PARTNERSHIPS & AGREEMENTS
      3. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. ADVANCED CHEMICAL TECHNOLOGIES
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      2. BASF SE
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      3. CARBON RECYCLING INTERNATIONAL (CRI)
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      4. ENERKEM
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      5. FRAUNHOFER
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      6. INNOGY
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      7. NORDIC GREEN
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      8. OCI NV
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      9. SERENERGY A/S
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      10. SODRA
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      11. UNIPER SE
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      12. VERTIMASS LLC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – RENEWABLE METHANOL

TABLE 2: REGULATORY FRAMEWORK

TABLE 3: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY FEEDSTOCK, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 4: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY FEEDSTOCK, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 5: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY FEEDSTOCK, HISTORICAL YEARS, 2018-2022 (IN KILOTONS)

TABLE 6: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY FEEDSTOCK, FORECAST YEARS, 2024-2032 (IN KILOTONS)

TABLE 7: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY APPLICATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 9: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN KILOTONS)

TABLE 10: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY APPLICATION, FORECAST YEARS, 2024-2032 (IN KILOTONS)

TABLE 11: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 12: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY END-USER, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 13: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN KILOTONS)

TABLE 14: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY END-USER, FORECAST YEARS, 2024-2032 (IN KILOTONS)

TABLE 15: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 16: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 17: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN KILOTONS)

TABLE 18: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN KILOTONS)

TABLE 19: KEY PLAYERS OPERATING IN ASIA-PACIFIC RENEWABLE METHANOL MARKET

TABLE 20: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 21: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 22: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES

FIGURE 1: MAJOR MARKET FINDINGS

FIGURE 2: MARKET DYNAMICS

FIGURE 3: KEY MARKET TRENDS

FIGURE 4: PORTER’S FIVE FORCES ANALYSIS

FIGURE 5: GROWTH PROSPECT MAPPING

FIGURE 6: MARKET MATURITY ANALYSIS

FIGURE 7: MARKET CONCENTRATION ANALYSIS

FIGURE 8: VALUE CHAIN ANALYSIS

FIGURE 9: ASIA-PACIFIC RENEWABLE METHANOL MARKET, GROWTH POTENTIAL, BY FEEDSTOCK, IN 2023

FIGURE 10: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY AGRICULTURAL WASTE, 2024-2032 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY AGRICULTURAL WASTE, 2024-2032 (IN KILOTONS)

FIGURE 12: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY FORESTRY RESIDUES, 2024-2032 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY FORESTRY RESIDUES, 2024-2032 (IN KILOTONS)

FIGURE 14: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY MUNICIPAL SOLID WASTE, 2024-2032 (IN $ MILLION)

FIGURE 15: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY MUNICIPAL SOLID WASTE, 2024-2032 (IN KILOTONS)

FIGURE 16: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY CO2 EMISSION, 2024-2032 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY CO2 EMISSION, 2024-2032 (IN KILOTONS)

FIGURE 18: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY OTHER FEEDSTOCKS, 2024-2032 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY OTHER FEEDSTOCKS, 2024-2032 (IN KILOTONS)

FIGURE 20: ASIA-PACIFIC RENEWABLE METHANOL MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2023

FIGURE 21: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY FORMALDEHYDE, 2024-2032 (IN $ MILLION)

FIGURE 22: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY FORMALDEHYDE, 2024-2032 (IN KILOTONS)

FIGURE 23: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY DIMETHYL ETHER (DME) & METHYL TERT-BUTYL ETHER (MTBE), 2024-2032 (IN $ MILLION)

FIGURE 24: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY DIMETHYL ETHER (DME) & METHYL TERT-BUTYL ETHER (MTBE), 2024-2032 (IN KILOTONS)

FIGURE 25: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY GASOLINE, 2024-2032 (IN $ MILLION)

FIGURE 26: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY GASOLINE, 2024-2032 (IN KILOTONS)

FIGURE 27: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY SOLVENT, 2024-2032 (IN $ MILLION)

FIGURE 28: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY SOLVENT, 2024-2032 (IN KILOTONS)

FIGURE 29: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY OTHER APPLICATIONS, 2024-2032 (IN $ MILLION)

FIGURE 30: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY OTHER APPLICATIONS, 2024-2032 (IN KILOTONS)

FIGURE 31: ASIA-PACIFIC RENEWABLE METHANOL MARKET, GROWTH POTENTIAL, BY END-USER, IN 2023

FIGURE 32: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY CHEMICAL, 2024-2032 (IN $ MILLION)

FIGURE 33: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY CHEMICAL, 2024-2032 (IN KILOTONS)

FIGURE 34: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY TRANSPORTATION, 2024-2032 (IN $ MILLION)

FIGURE 35: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY TRANSPORTATION, 2024-2032 (IN KILOTONS)

FIGURE 36: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY POWER GENERATION, 2024-2032 (IN $ MILLION)

FIGURE 37: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY POWER GENERATION, 2024-2032 (IN KILOTONS)

FIGURE 38: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY OTHER END-USERS, 2024-2032 (IN $ MILLION)

FIGURE 39: ASIA-PACIFIC RENEWABLE METHANOL MARKET, BY OTHER END-USERS, 2024-2032 (IN KILOTONS)

FIGURE 40: ASIA-PACIFIC RENEWABLE METHANOL MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)

FIGURE 41: CHINA RENEWABLE METHANOL MARKET, 2024-2032 (IN $ MILLION)

FIGURE 42: JAPAN RENEWABLE METHANOL MARKET, 2024-2032 (IN $ MILLION)

FIGURE 43: INDIA RENEWABLE METHANOL MARKET, 2024-2032 (IN $ MILLION)

FIGURE 44: SOUTH KOREA RENEWABLE METHANOL MARKET, 2024-2032 (IN $ MILLION)

FIGURE 45: INDONESIA RENEWABLE METHANOL MARKET, 2024-2032 (IN $ MILLION)

FIGURE 46: THAILAND RENEWABLE METHANOL MARKET, 2024-2032 (IN $ MILLION)

FIGURE 47: VIETNAM RENEWABLE METHANOL MARKET, 2024-2032 (IN $ MILLION)

FIGURE 48: AUSTRALIA & NEW ZEALAND RENEWABLE METHANOL MARKET, 2024-2032 (IN $ MILLION)

FIGURE 49: REST OF ASIA-PACIFIC RENEWABLE METHANOL MARKET, 2024-2032 (IN $ MILLION)

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