Home > Chemicals & Materials > Biomethane Market
Biomethane Market Size
Biomethane Market will showcase notable growth during the forecast period of 2024-2032, favored by the shift toward eco-friendly fuels, such as biogas and biomethane to mitigate carbon emission levels. Moreover, this product is being widely used as a renewable alternative to natural gas to supply heat and electricity in buildings and industries.
There is a widespread adoption in the automotive sector, driven by a strong emphasis on incorporating biofuels to achieve sustainable mobility goals. Using biomethane in vehicles help in reducing Non-Renewable Primary Energy Consumption (NRPEC) and CO2 emissions significantly, thereby making it one of the most preferred eco-friendly gases.
Biomethane Market Trends
There is a notable increase in cancer cases due to high exposure to air pollutants released from petroleum extraction and refinery plants. According to a June 2022 report by the European Environment Agency (EEA), exposure to air pollution accounted for more than 10% of all cancer cases in Europe. Pollution also leads to lung conditions and asthma cases. Constant efforts for reducing the pollution levels and managing the disease burden will bolster the demand for biomethane.
However, factors including highly explosive nature of methane, production of unpleasant odors, and limited power generation capacity might restrain the industry development in the future.
Escalating tensions between Russia and Ukraine prompted governments across the EU to look for energy solutions outside Russia as many member nations cut back on their energy imports from the country. The Union’s REPowerEU strategy, which was introduced to boost its renewable energy generation capacity, contained a list of sustainability goals including doubling its target for biomethane production to 35 billion cubic meters (bcm) every year by 2030. Such initiatives will augment the industry size.
Biomethane Market Analysis
In terms of type, the agricultural waste segment is set to capture a sizeable share of global biomethane industry by 2032, as more end-users in the agriculture sector are showing interest in biogas generated from agricultural residues and agro-food wastes. There is a strong focus on anaerobic digestion of residual agricultural biomass to produce biogas and reduce GHG emissions.
According to the U.S. Environmental Protection Agency (EPA), in 2021, energy production from manure-based anaerobic digestion systems was equivalent to 1.76 million megawatt-hours (MWh). This figure may encourage consumers in the agriculture sector to use agricultural waste to generate electricity, which will eventually bolster the market progress over the estimated timeframe.
North America biomethane market revenue is estimated to grow at a substantial rate over the 2024 and 2032, as the region is witnessing a robust rise in the establishment of wastewater treatment plants (WWTPs) as they can become a potential source of energy. The potential to utilize methane produced by wastewater systems in sludge-to-energy systems, which accounts for almost 16% of the world’s greenhouse gas (GHG) emissions, to convert it into electricity is notable trends. Also, the growing usage of anaerobic digestion systems to produce biogas is anticipated to positively influence the regional industry outlook in the upcoming years.
Biomethane Market Share
Leading players in global biomethane industry include:
- Mailhem Ikos Environment
- Gazasia
- Verbio
- J V Energen
- Green Elephant
- SoCalGas
- ETW Energietechnik
These firms are focused on developing and implementing a wide range of corporate strategies, such as product launches, collaborations, and mergers & acquisitions to expand their business operations across the world.
Biomethane Market News
- in February 2021, Verbio Vereinigte BioEnergie AG, a German bioenergy producer, announced that its straw-to-biomethane manufacturing plant would begin operations by fall 2021. The facility was designed to restrict air pollution caused by the massive burning of waste straws and would produce biomethane from maize straws.