The Canada renewable methanol market is expected to develop with a CAGR of 4.66% in terms of revenue and 3.42% in terms of volume across the estimated period capturing a revenue share of $36.43 million by 2028. The base year regarded for the market study is 2021, while the projected years are from 2022 to 2028.

CANADA RENEWABLE METHANOL MARKET FORECAST 2022-2028

Canada 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)

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The Canada renewable methanol market is expected to develop with a CAGR of 4.66% in terms of revenue and 3.42% in terms of volume across the estimated period capturing a revenue share of $36.43 million by 2028. The base year regarded for the market study is 2021, while the projected years are from 2022 to 2028.

Canada Renewable Methanol Market

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Some of the top drivers augmenting the country’s market growth are the introduction of regulations to minimize greenhouse gas emissions as well as the increasing demand for renewable fuels.

In an attempt to reduce greenhouse gas emissions, Canada developed a Clean Fuel Standard, with regulations that are presently underway. The regulations are anticipated to supplement the research efforts established in the development of renewable methanol production. Over recent years, numerous firms in Canada have also introduced various advanced technologies for decreasing the carbon intensity of methanol from natural gas. This is termed Low Carbon Methanol (LCM).

In this regard, Methanex Corporation manufactures LCM in its Canadian plant called Medicine Hat by injecting sequestered CO2 into the methanol synthesis loop from a neighboring industrial facility. This process plays a pivotal role in substantially minimizing greenhouse gas emissions when LCM is used as a fuel.

As per Methanex, a vehicle that predominantly relies on low carbon methanol would emit 30% reduced CO2 per kilometer, from well to wheel, in comparison with a car powered by gasoline. In addition, the Canadian Methanol Corporation (CMC) is also proposing the construction of a world-scale methanol plant at a colossal production site, secured in north-eastern British Columbia, named Sundance Fuels. As a result, the aforementioned factors are expected to drive the renewable methanol market growth in Canada during the forecast years.

The Canada renewable methanol market is mainly segmented into feedstock, application, and end-user. The end-user category is further categorized into chemical, transportation, power generation, and other end-users. Since the demand for electricity is anticipated to surge, the requirement for renewable methanol for power generation is also predicted to increase. Renewable methanol is an ideal fuel for the generation of electricity. Given the rising demand for electricity, such as during hot summer days, turbine engines are generally used as peak generators in order to boost the capacity of the electric grid. Besides, to keep up with the increasing need for electricity, methanol has been established as a viable replacement for oil in critical backup generators.

Renewable methanol is also utilized as a marine fuel in response to cost advantages as well as international regulatory changes relative to other fuels. Moreover, methanol is used in the biodiesel fuel-making process, as well. It is also used as a key component in transesterification for converting triglycerides in various oils into usable biodiesel fuel.

Some of the key players operating in the Canada renewable methanol market are Advanced Chemical Technologies, Southern Chemical Corporation, Enerkem, etc.

Advanced Chemical Technologies Inc, headquartered in Canada, is a pioneer for the future of green chemicals for the environment and sustainable energy. The company is also revolutionizing the methanol industry through the commercialization of a world-class proprietary in green methanol production that uses industrial CO2 emissions and decreases carbon footprint.

The company combines numerous proven technologies into a proprietary process for the production of green methanol. This process leads to a significantly reduced carbon footprint as compared to traditional methanol production.

Report Synopsis

Report ScopeDetails
Market Forecast Years2022-2028
Base Year2021
Market Historical Years2018-2021
Forecast UnitsRevenue ($ Million) Volume (Kilotons)
Segments AnalyzedFeedstock, Application, and End-User
Country AnalyzedCanada
Companies Analyzed

Advanced Chemical Technologies, Atlantic Methanol, Enerkem, Methanex Corporation, Southern Chemical Corporation

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • COUNTRY SNAPSHOT
      • COUNTRY ANALYSIS
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
    3. KEY ANALYTICS
      • IMPACT OF COVID-19 ON RENEWABLE METHANOL MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • PESTLE ANALYSIS – CANADA
      • REGULATORY FRAMEWORK
    4. MARKET BY FEEDSTOCK
      • AGRICULTURAL WASTE
      • FORESTRY RESIDUES
      • MUNICIPAL SOLID WASTE
      • CO2 EMISSION
      • OTHER FEEDSTOCKS
    5. MARKET BY APPLICATION
      • FORMALDEHYDE
      • DIMETHYL ETHER (DME) & METHYL TERT-BUTYL ETHER (MTBE)
      • GASOLINE
      • SOLVENT
      • OTHER APPLICATIONS
    6. MARKET BY END-USER
      • CHEMICAL
      • TRANSPORTATION
      • POWER GENERATION
      • OTHER END-USERS
    7. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • ADVANCED CHEMICAL TECHNOLOGIES
        • ENERKEM
        • METHANEX CORPORATION
        • SOUTHERN CHEMICAL CORPORATION
        • ATLANTIC METHANOL

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – RENEWABLE METHANOL

    TABLE 2: CANADA RENEWABLE METHANOL MARKET, BY FEEDSTOCK, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

    TABLE 3: CANADA RENEWABLE METHANOL MARKET, BY FEEDSTOCK, FORECAST YEARS, 2022-2028 (IN KILOTONS)

    TABLE 4: CANADA RENEWABLE METHANOL MARKET, BY FEEDSTOCK, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 5: CANADA RENEWABLE METHANOL MARKET, BY FEEDSTOCK, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 6: CANADA RENEWABLE METHANOL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

    TABLE 7: CANADA RENEWABLE METHANOL MARKET, BY APPLICATION, FORECAST YEARS, 2022-2028 (IN KILOTONS)

    TABLE 8: CANADA RENEWABLE METHANOL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 9: CANADA RENEWABLE METHANOL MARKET, BY APPLICATION, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 10: CANADA RENEWABLE METHANOL MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

    TABLE 11: CANADA RENEWABLE METHANOL MARKET, BY END-USER, FORECAST YEARS, 2022-2028 (IN KILOTONS)

    TABLE 12: CANADA RENEWABLE METHANOL MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 13: CANADA RENEWABLE METHANOL MARKET, BY END-USER, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 14: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 15: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 16: LIST OF BUSINESS EXPANSIONS & DIVESTITURES                        

    LIST OF FIGURES

    FIGURE 1: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 2: OPPORTUNITY MATRIX

    FIGURE 3: CANADA RENEWABLE METHANOL MARKET, GROWTH POTENTIAL, BY FEEDSTOCK, IN 2021

    FIGURE 4: CANADA RENEWABLE METHANOL MARKET, BY AGRICULTURAL WASTE, 2022-2028 (IN $ MILLION)

    FIGURE 5: CANADA RENEWABLE METHANOL MARKET, BY FORESTRY RESIDUES, 2022-2028 (IN $ MILLION)

    FIGURE 6: CANADA RENEWABLE METHANOL MARKET, BY MUNICIPAL SOLID WASTE, 2022-2028 (IN $ MILLION)

    FIGURE 7: CANADA RENEWABLE METHANOL MARKET, BY CO2 EMISSION, 2022-2028 (IN $ MILLION)

    FIGURE 8: CANADA RENEWABLE METHANOL MARKET, BY OTHER FEEDSTOCKS, 2022-2028 (IN $ MILLION)

    FIGURE 9: CANADA RENEWABLE METHANOL MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2021

    FIGURE 10: CANADA RENEWABLE METHANOL MARKET, BY FORMALDEHYDE, 2022-2028 (IN $ MILLION)

    FIGURE 11: CANADA RENEWABLE METHANOL MARKET, BY DIMETHYL ETHER (DME) & METHYL TERT-BUTYL ETHER (MTBE), 2022-2028 (IN $ MILLION)

    FIGURE 12: CANADA RENEWABLE METHANOL MARKET, BY GASOLINE, 2022-2028 (IN $ MILLION)

    FIGURE 13: CANADA RENEWABLE METHANOL MARKET, BY SOLVENT, 2022-2028 (IN $ MILLION)

    FIGURE 14: CANADA RENEWABLE METHANOL MARKET, BY OTHER APPLICATIONS, 2022-2028 (IN $ MILLION)

    FIGURE 15: CANADA RENEWABLE METHANOL MARKET, GROWTH POTENTIAL, BY END-USER, IN 2021

    FIGURE 16: CANADA RENEWABLE METHANOL MARKET, BY CHEMICAL, 2022-2028 (IN $ MILLION)

    FIGURE 17: CANADA RENEWABLE METHANOL MARKET, BY TRANSPORTATION, 2022-2028 (IN $ MILLION)

    FIGURE 18: CANADA RENEWABLE METHANOL MARKET, BY POWER GENERATION, 2022-2028 (IN $ MILLION)

    FIGURE 19: CANADA RENEWABLE METHANOL MARKET, BY OTHER END-USERS, 2022-2028 (IN $ MILLION)       

    1. MARKET BY FEEDSTOCK
      • AGRICULTURAL WASTE
      • FORESTRY RESIDUES
      • MUNICIPAL SOLID WASTE
      • CO2 EMISSION
      • OTHER FEEDSTOCKS
    2. MARKET BY APPLICATION
      • FORMALDEHYDE
      • DIMETHYL ETHER (DME) & METHYL TERT-BUTYL ETHER (MTBE)
      • GASOLINE
      • SOLVENT
      • OTHER APPLICATIONS
    3. MARKET BY END-USER
      • CHEMICAL
      • TRANSPORTATION
      • POWER GENERATION
      • OTHER END-USERS

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