Biomethanol has a wide range of application fields and the number of relevant companies in my country is small.

Biomethanol refers to renewable methanol made from biomass such as sewage, biogas, municipal solid waste, pulp and paper wastewater, forestry and agricultural waste and by-products as raw materials. Compared with traditional methanol, biomethanol has the advantages of less environmental pollution, saving resource consumption, and good safety. It is widely used in medicine, chemical industry, transportation, agriculture and other fields.

The main raw material of biomethanol is renewable biomass, including papermaking wastewater, solid waste, etc. As a country with a large population, my country has a huge amount of urban domestic waste removal. According to data released by the National Bureau of Statistics, my country’s urban domestic waste removal volume will reach 248.692 million tons in 2021. Biomethanol uses municipal solid waste as its main raw material, which can effectively reduce the amount of municipal solid waste removed and improve waste utilization.

According to the “China Biomethanol Industry Market In-depth Research and Development Prospects Forecast Report 2023-2028 released by the Industrial Research Center, biotechnology Methanol has a wide range of applications, including medicine, chemical industry, transportation, agriculture, etc. In the pharmaceutical field, biomethanol can be used as the main component of medical disinfectants and medical bactericides; in the chemical industry, biomethanol can be used to synthesize chemical products such as methyl isobutyl ketone and methyl methacrylate; in the transportation field, Biomethanol can replace petroleum and be used as the main fuel for automobiles. With the rapid economic development and the improvement of national living standards, my country’s automobile sales continue to grow, driving the prosperity of the biomethanol industry to further increase.

The global biomethanol market is mainly concentrated in European and American countries, of which Europe accounts for nearly 50% of the global market. Swedish Södra, Canadian Enerkem, Canadian Methanex, Dutch BioMCN, German BASF, etc. are world-renowned biomethanol producers. Soda Group is the first company in the world to conduct research in the biomethanol industry. It has key technologies and core production equipment. It has reached cooperation with a number of chemical companies to supply products in batches.

In terms of the local market, my country’s biomethanol industry started late, and there are very few companies with large-scale production capabilities. Jinan Shengquan Group Co., Ltd., Sinopec Qilu Petrochemical Company, CIMC Enric Engineering Technology Co., Ltd., etc. are the main producers of biomethanol in my country. Currently, Shengquan Group is actively promoting biomethanol production and plans to launch a biomethanol production device construction project with an annual output of 200,000 tons by 2024.

Industry analysts said that biomethanol, as a green methanol, has excellent performance and a wide range of applications. Benefiting from the growth in downstream demand, my country’s biomethanol market space will continue to expand. At present, my country’s biomethanol industry is still in its infancy, and there are very few companies with large-scale production capabilities. In the future, with the improvement of technological level, the number of participants in my country’s biomethanol market will further grow.