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Asia-Pacific Renewable Methanol Market Forecast 2022-2030

KEY FINDINGS

The Asia-Pacific renewable methanol market is likely to register a 2.32% CAGR in terms of volume and 3.44% in terms of revenue during the estimated years of 2022 to 2030. Some of the key factors propelling the growth of the regional market include the rising use of methanol as a transportation fuel in developing countries such as China, the surging consumption of renewable methanol, and the collaborations between leading methanol technology providers.

MARKET INSIGHTS

The Asia-Pacific renewable methanol market growth assessment encompasses the study of China, South Korea, Indonesia, Vietnam, Japan, India, Australia & New Zealand, Thailand, and Rest of Asia-Pacific. As per the planning commission of India, five DME plants, five methanol plants on the basis of high ash coal, as well as one natural gas-based methanol production plant are planned to be established in a joint venture with Israel. Cochin Shipyard Limited has constructed seven cargo vessels and three boats for the Inland Waterways Authority of India for using methanol as a marine fuel, particularly for the inland waterways program.

Furthermore, industries like BHEL and Thermax, in addition to educational institutions like IIT Delhi and IISc Bengaluru, are establishing efforts for the development of technologies for renewable methanol production. The Ministry of Road Transport, Highways, and Shipping has also launched its pilot project for purchasing forty buses running on methanol for Mumbai, Navi Mumbai, Pune, and Guwahati. Therefore, these factors are estimated to propel the renewable methanol market growth in the Asia-Pacific over the forecasting years.

COMPETITIVE INSIGHTS

The main companies operating in the market are Serenergy A/S, Fraunhofer, BASF SE, etc.

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Asia-Pacific Renewable Methanol Market Forecast 2022-2030
Published By :Inkwood Research
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