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NORTH AMERICA RENEWABLE METHANOL MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

North America 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 North America renewable methanol market is estimated to grow with a CAGR of 4.41% in revenue and 3.06% in terms of volume during the forecasted period, 2024-2032, acquiring a revenue share of $xx million by 2032.

The market growth is strengthened by the rising implementation of the renewable fuel standard (RFS) program for minimizing the impact of greenhouse gas emissions and the augmenting demand for renewable fuels within the industrial sector. However, the North America renewable methanol market is likely to be restrained by the surging wastage of food.

The North America renewable methanol market growth evaluation includes the assessment of the United States and Canada. The United States is focused on enhancing its natural gas consumption, especially within the industrial sector. Aligning with this, three new methanol plants were set to open from 2019 to 2021, with a capacity of approximately 3.3 million metric tons annually (MMmt/y). The manufacturing is anticipated to raise the overall methanol capacity to 9.4 MMmt, indicating an increase of nearly 45% compared to the nation’s current capacity.

North America Renewable Methanol Market

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On the other hand, the share of renewable energy in terms of power generation is on the rise in the United States. Moreover, the country is also the largest biofuel producer in the world. The two core technology options within the transport sector in the United States are electric vehicles (EVs) and liquid biofuels. Additionally, a shift in modes of transportation, including city trams for passenger cars and the use of high-speed trains with renewable power instead of diesel-based trucks, are other alternatives for the transport sector, augmenting the need for renewable methanol in the country. Hence, the aforementioned factors are projected to fuel the growth of the renewable methanol market in the United States over the forecast period.

The North America renewable methanol market segmentation includes feedstock, application, and end-user. The feedstock segment includes CO2 emission, forestry residues, agricultural waste, municipal solid waste, and other feedstocks. 

Agricultural activity results in a significant amount of biomass with the potential to be converted into renewable methanol or biomethanol. Besides, as per estimations, around 998 million metric tons of agricultural waste is produced globally. 

Conversely, forest residual biomass, including leaves, needles, branches, as well as woodchips, is produced while harvesting trees. These by-products can be used as a feedstock for manufacturing biochemicals like renewable methanol. Moreover, numerous companies have also utilized forest residual biomass in order to produce renewable methanol.

There is a growing trend of utilizing Municipal Solid Waste (MSW) in the production of renewable methanol. Globally, approximately 1.3 billion metric tons of MSW are generated annually, a figure projected to rise to 2.2 billion metric tons by 2025. By employing MSW in the production of renewable methanol, non-recyclable waste can be efficiently repurposed, alleviating pressure on landfill sites.

The management of large quantities of waste presents significant challenges for municipalities and governments. Currently, it is estimated that about two-thirds of MSW is either disposed of in landfills or incinerated. This practice poses environmental challenges that could be mitigated by utilizing MSW for the production of sustainable chemicals, including renewable methanol. Numerous companies have already begun leveraging MSW for the production of renewable methanol.

The top players operating in the North America renewable methanol market are Advanced Chemical Technologies, Fraunhofer, BASF SE, etc.

BASF SE, headquartered in Germany, is one of the largest chemical companies across the globe. Its product portfolio comprises functional materials and solutions, oils and gas, performance products, agricultural solutions, and chemicals. 

With five business segments, namely, agricultural solutions, performance products, chemicals, oil and gas, and functional materials and solutions, the company is operational across the Americas, Asia-Pacific, Africa, the Middle East, and Europe.

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 AnalyzedThe United States and Canada
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. METHODOLOGY
    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. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. NORTH AMERICA RENEWABLE METHANOL MARKET DRIVERS
      3. NORTH AMERICA RENEWABLE METHANOL MARKET CHALLENGES
      4. KEY PLAYERS IN NORTH AMERICA RENEWABLE METHANOL MARKET
      5. COUNTRY ANALYSIS
        1. UNITED STATES
          1. UNITED STATES RENEWABLE METHANOL MARKET SIZE & OPPORTUNITIES
        2. CANADA
          1. CANADA 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: NORTH AMERICA RENEWABLE METHANOL MARKET, BY FEEDSTOCK, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

TABLE 19: KEY PLAYERS OPERATING IN NORTH AMERICA 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: NORTH AMERICA RENEWABLE METHANOL MARKET, GROWTH POTENTIAL, BY FEEDSTOCK, IN 2023

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

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

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

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

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

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

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

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

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

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

FIGURE 20: NORTH AMERICA RENEWABLE METHANOL MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2023

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

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

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

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

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

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

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

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

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

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

FIGURE 31: NORTH AMERICA RENEWABLE METHANOL MARKET, GROWTH POTENTIAL, BY END-USER, IN 2023

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

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

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

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

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

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

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

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

FIGURE 40: NORTH AMERICA RENEWABLE METHANOL MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)

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

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

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