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North America Renewable Methanol Market Forecast 2019-2028

The North America renewable methanol market is estimated to evolve at a CAGR of 3.73% and 3.24%, in terms of revenue and volume, respectively, during the projected period, 2019-2028. The growing demand for renewable fuels in the industrial sector is predicted to propel market growth in the region. Many regulations are underway, and are expected to supplement the research efforts for the development of renewable methanol production.

The United States and Canada are assessed for determining the North America renewable methanol market growth. Canada has developed a Clean Fuel Standard for reducing greenhouse gas emissions. Several companies have been developing technologies in recent years to minimize the carbon intensity of methanol produced from natural gas. Methanex Corporation manufactures LCM in its Medicine Hat (Canada) plant through the injection of sequestered CO2, which considerably reduces the GHG emissions when the LCM is utilized as a fuel. The overall production capacity of formaldehyde in the country is approximately 150-kilo metric tons per year. The Canadian Methanol Corporation (CMC) is set to build a methanol plant in northeastern British Columbia, Canada. The capacity will be that of 1.8 million tons of methanol per year. Such factors are projected to have a huge influence on the growth of the renewable market in Canada.

Some of the prominent companies operating in the market include, Advanced Chemical Technologies, Innogy, Nordic Green, OCI NV, Serenergy A/S, etc.

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North America Renewable Methanol Market Forecast 2019-2028
Published By :Inkwood Research
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