Growing Focus on Development of Low Carbon Fuel for Maritime Industry to Fuel Revenue Growth of Green Methanol Market

 

Methanol is one of the most widely produced and used organic chemicals and a crucial raw material for various end-use industries. However, production of methanol by conventional methods releases robust amounts of fossil greenhouse gases. Growing focus on creating a carbon-neutral industrial system has led to the generation of green methanol and is expected to play a significant role in energy transition. Green methanol is a low-carbon fuel that can be produced from biomass gasification or renewable electricity and sequestered carbon dioxide. Green methanol is eco-friendly and can be used as an energy carrier for storing electricity generation from renewable sources. Escalation of climate crisis has created an unprecedented demand for alternative energy fuels and sources. Increasing affordability of renewable energy has enabled production of methanol based on wind and solar power, geothermal energy, or hydropower, which can in turn, significantly reduce greenhouse gas emissions. Green methanol also has the potential to serve as a fuel for maritime fuel applications and can be added to conventional liquid fuels or can be used to fuel 100% methanol-based vehicle systems.

Green methanol production involves biological pathways, thermo-chemical pathways, or electrofuel pathways such as power to gas. Green methanol can play a crucial role in decarbonising both energy and chemical sectors. Use of capture carbon as a feedstock can help reduce the large carbon footprint of chemical industry. Out of the carbon capture and utilisation (CCU)-based chemicals of interest, green methanol has garnered a lot of attention due to its potential role as an energy carrier. Green methanol can be used as a fuel in trucks and ships or converted to olefins to develop molecules of interest.

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Shipping industry has witnessed tremendous pressure from regulators and consumers to minimize greenhouse gas emissions. In recent news, A.P. Moller-Maersk announced it would launch a feeder ship in 2023 that would be running on green methanol. Maersk’s new vessel will be running solely on green methanpl; but the ship will also be able to utilize conventional fuels such as very low sulphur fuel oil and marine gas oil, and even LNG to some extent.

In March 2022, Maersk and Egyptian authorities signed a Memorandum of Understanding (MoU) to explore establishment of large-scale green fuel production in the region to accelerate shift towards zero-emission targets. In the same month, Chinese automotive company, Geely began testing its e-methanol vehicles in the Danish port of Aalborg. The two sedans and heavy truck run on e-methanol that is produced by Power-to-X solution, which is a sustainable, carbon-neutral, renewable fuel.

Key companies in the Green methanol market include Advanced Chemical Technologies, BASF SE, Uniper SE, Fraunhofer GmbH, Enerkem Inc., Innogy SE, Nordic Green ApS, Vertimass LLC, Saudi Basic Industries Corporation, and Södra Skogsägarna. In April 2022, Maersk announced a strategic partnership with five companies including Oiltanking Asia Pacific Pte. Ltd., Kenoil Marine Services Pte Ltd., Air Liquide, PTT Exploration and Production Public Company Limited, and YTL PowerSeraya Pte. Limited. For a “Green Methanol Value Chain Collaboration.” Under the partnership, the six companies will be running feasibility studies by the end of 2022 to develop a green e-methanol pilot plant having a minimum capacity of 50,000 tons per annum. The new plant will be working by converting biogenic carbon dioxide into green e-methanol.   

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Growing Consumer Focus on Sustainable Alternatives for Hygiene Products Using Materials based on Bioresources to Drive Bio Acrylic Acid Market Growth

 

Acrylic acid is a bulk chemical and is widely used in water-based acrylic resins in the form of acrylate esters. Acrylic acid and its salts and esters are key basic materials used for the superabsorbent, adhesive, and paint coating industries. In conventional method, acrylic acid is manufactured by a catalytic two-step gas-phase oxidation of propylene with a global production of more than five million tons annually. One of the major drawbacks of this route is the increased dependency on non-renewable fossil resources. Over the recent past, growing efforts to reduce carbon emissions and increasing concern regarding rapid depletion of fossil fuel resources have led the chemical companies and overall industry to search for and examine alternative route for bio-based feedstock for production of acrylic acid. Growing focus has been put on using renewable biomass feedstock as a basis for sustainable and large-scale production of bio-based acrylic acid.

Petrochemical based polymers, coatings, and paints are crucial to modern day society but increasing focus on sustainability have increased demand for greener processes and renewable feedstock materials. In recent years, significant research and development activities have been carried out for manufacturing acrylic acid from natural renewable sources such as lactic acid, glucose or molasses made from biomass, and glycerol. Advances towards bio-based acrylic acid originating from 3-hydroxypropionic acid, glycerol, lactic acid, and acrylonitrile highlight the importance of novel sustainable building blocks. Recently a breakthrough research study was published in the journal Angewandte Chemie International Edition that reported a sustainable functionalization of acrylic acid towards various acrylate derivatives through a one-pot catalytic transformation using biobased alcohols. The research was carried out to develop a green synthetic route to acrylic acid from biomass using furfural through sequential photochemical and catalytic oxidations with air and ethenolysis as major steps with hydroxybutenolide and maleic anhydride as key intermediates.

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In May 2020, Cargill, Inc. announced it would be using developed by Procter & Gamble to revive its long-term efforts to produce bioacryclic acid using corn dextrose as feedstock. Procter & Gamble scientists have developed a production route based on lactic acid that Cargill already produces from corn at its manufacturing facility in Nebraska, United States, majorly as a raw material for the polymer polylactic acid. Procter & Gamble converts lactic acid to acrylic acid using a dehydration catalysts that is made of metal-containing phosphate salts. Cargill has an exclusive license to utilize the technology for the production of bio-based acrylic acid. One of the major consumer of bio-based acrylic acid is the superabsorbent polymers used in the manufacturing of diapers. Consumer demand for sustainable diapers compelled Procter & Gamble to develop biobased chemistry and search for a large-scale manufacturer.

Another Massachusetts-based technology company, KSE Inc., is engaged in developing a technology that can convert crude glycerol – which is produced as the primary byproduct of biodiesel manufacture – into acrylic acid. In 2019, LG Chem and ADM announced a joint development agreement (JDA) to secure mass production technology to develop biobased acryclic acid that can be used in the manufacturing of superabsorbent polymers that are used in diapers and other hygiene products.

In a recent research study, published in 2021, researchers found lignocellulosic biomass as a promising feedstock for the sustainable manufacturing of biofuels and bioproducts, particularly 3-hydroxypropionic acid as a platform chemical to produce important chemicals such as acrylic acid. The study leveraged BioSTEAM platform to design, simulate, and evaluate biorefineries producing acrylic acid by fermentation of sugars to 3-hydroxypropionic acid.

Key companies in the bio acrylic acid market include ASF SE, China Petroleum & Chemical Corporation (SINOPEC), Arkema S.A., Mitsubishi Chemical Holdings Corporation, The Dow Chemical Company, The Lubrizol Corporation, Evonik Industries AG, PTTGC Innovation America Corporation, Formosa Plastics Corporation, and SIBUR International GmbH. In February 2022, BioMADE, which is the Bioindustrial Manufacturing and Design Ecosystem, announced USD 12.1 million for 16 projects to accelerate bioindustrial manufacturing in the United States including developing chemicals such as bio acrylic acid and succinic acid.   

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