Tag: bio-methanol

Advanced biofuels market size to surpass $848.6 billion by 2030: Precedence Research

According to Precedence Research, the global advanced biofuels market size is expected to surpass around $848.6 billion by 2030, growing at a CAGR of 38.5 per cent. The global advanced biofuels market size was estimated at $32.6 billion in 2020. According to the report, North America will dominate the global industry due to rising demand for the cleaner burning transportation fuels in the US and Canada.

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Transitioning towards renewable methanol to reduce carbon emissions

A transition to renewable methanol could expand methanol’s use as a chemical feedstock and fuel while moving industrial and transport sectors toward net carbon neutral goals. The cost of renewable methanol production is currently high and production volumes are low. But with the right policies, renewable methanol could be cost competitive by 2050 or earlier.

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