Statistical and analytical investigation of methanol applications, production technologies, value-chain and economy with a special focus on renewable methanol

Abstract

Methanol could be considered one of four important basic chemicals, and is produced at the rate of more than 98 million tons yearly. About 30% of methanol is utilized in fuel applications for industrial boilers, transportation sector, and cooking. Approximately two-thirds of the produced methanol is utilized to make other chemicals. The consumption and production of methanol result in 10% of total chemical sector. The annual production of renewable methanol is limited to less than 0.2 million tons. It is estimated that by 2050, the cost of making renewable methanol will reduce between USD 250 to USD 630 per metric ton due to price reductions in renewable energy. With the aim of promoting renewable methanol production, the present contribution provide a statistical and analytical overview of the worldwide methanol value chain in terms of the demand and production of methanol, the most recent updates of production methods from different feedstocks, and the downstream applications of substances in. The benefits and drawbacks of using methanol as a clean fuel and energy source for transportation are evaluated. The capabilities of renewable methanol to power future propulsion technologies are examined and the commercial potentials of the two principal forms of renewable methanol, bio-methanol and e-methanol were investigated. The review concludes by identifying the key challenges and opportunities for the development of a sustainable value chain for methanol.