ID: MRFR/CnM/5904-HCR | February 2021 | Region: Global | 140 pages
Methane is a member of the alkane family. It is denoted by the chemical formulae CH4, which means it has one carbon atom. It is lighter than the air present in our atmosphere and its gravity is measured to be 0.554. It is highly inflammable and is slightly soluble in water. Methane has a boiling point of -162 ˚C and it melts at −182.5 °C (or −296.5 °F). It can be obtained from natural resources or can be produced artificially. It has various applications in the automotive industry, electricity industry, fuel and gas industry, chemical industry, etc.
COVID 19 Analysis:
People across the globe are being affected by Coronavirus, the global pandemic. It has negatively impacted the operations of all the industries, except for the pharmaceutical industry. There has been a complete lockdown situation in almost every part of the world and people are forced to stay at their homes. Every nation has sealed their borders which mean no international travel will be possible shortly. The businesses are also being shut down and many people across the globe were laid off from their workplaces. This has affected the Methane Market Growth as well.
It is being anticipated that post the Covid19 situation, Global Methane Market Share will grow tremendously. Methane gas is naturally available in abundance on our planet earth which makes it a lucrative source for the generation of electricity, natural gases, fuels, petrochemicals, etc. Due to its gaseous state, it is difficult to store it at normal temperature and under regular pressure. The government of every nation is taking active measures to put methane gas in its most efficient use to derive maximum benefits out of it.
Methane gas is extensively utilized in the manufacturing and processing of fuel and generating electricity. The demand for electricity supply has increased double folds in both urban as well as rural areas. This is driving the Global Methane Market. The rise in demand for various transportation facilities and their use as a raw material in the chemical industry is also pushing its market growth.
The introduction of shale gas technology is providing an opportunity for the robust growth of the methane gas market. It is popularly being used as an alternative for the production and processing of petrochemicals. It is also put to use in the production of natural gases. Thus, it has a wide application in the heating and electricity industry as well.
The cost of handling and warehousing methane is very high. It requires proper storehouses and cannot be mishandled as it is explosive and hazardous. It is also difficult to carry and transport it from one place to another. It requires a proper vehicle and equipment which can carry it without any spoilage. These factors are hampering the overall growth of its market.
Value Chain Analysis:
Methane can be utilized by various industries for the generation of fuel and electricity. It is also hazardous for air and other natural resources. Thus, industries are trying to reduce their overall emission of methane gas as a part of their corporate social responsibility.
Global Methane Market Share, by Application, 2017 (%):
Source: MRFR Analysis
According to the Global Methane Market Analysis, its market can be divided into various segments. These are based on Source, based on Type, based on End-Users, and based on Application.
Based on Source:
Methane gas is present in abundance in our natural environment. Thus, it can be obtained from natural sources. It can also be produced artificially by using synthetic procedures and methods.
Based on Type:
Based on Type Methane gas can be further segmented into Fermentation & Gasification.
Based on Application:
Methane gas has several applications such as the production of fuel, liquefied natural gas, liquefied methane rocket fuel, chemical feedstock, petrochemicals, electricity, and heat generation.
Based on End-Users:
Various End-User Industries of methane are automotive, aerospace & defense, aviation, natural gas, electrical, chemical, and others.
The Global Methane Market Value is increasing rapidly. It is leaving a huge impression in every part of the world owing to its specialization and advancements. The regions of the operation of its Global market include regions of America, Europe, Asia-pacific, and the rest of the world.
American region, which includes the area of North America (the US and Canada) and Latin America, provides a large market for methane. It is highly demanded in chemical industries for generating and processing petrochemicals. It is also used in the aerospace industry for the production of rocket fuel.
The European region, which includes Germany, UK, France, Russia, and Italy, is also expanding and holds the third-largest market share of the methane industry. This owns the robust and growing automotive industry and the chemical industry. Many key players are also producing Liquefied natural gases by making use of methane gas.
The Asia-Pacific region includes countries such as China, Japan, India, Australia, and South Korea, which is growing tremendously throughout the forecasted period. The developing countries are providing a promising market for methane. Urbanization and industrialization have increased the requirement of methane which is used as a chemical feedstock in industries. The automotive industry is also growing which makes use of methane as a fuel.
The rest of the world region, which includes the region of the Middle East and Africa, is growing at a slower but constant rate owing to the lower technological & industrial developments. Crude oil and petroleum are present in abundance in these regions which is expected to boost the growth of the Methane Market.
The list of Major Global Methane Market Key Players is as follows:
These companies form joint ventures or come together in partnerships for certain projects, mergers, and acquisitions to make technological advancements. They strive to develop end-products and services that are unique, cost-effective, and proficient in working and can deliver accurate solutions to the respective problems.
The Various Recent Activities found in the Global Methane Market Forecast are as follows:
December 2021- The U.S. Department of Energy (DOE) announced USD35 million in investment for twelve projects aimed to develop technologies to lower methane emissions in the oil, coal, and gas industries. The Reducing Emissions of Methane Every Day of the Year (REMEDY) program by DOE's Advanced Research Projects Agency-Energy (ARPA-E) was released earlier this year for private companies and universities to lower U.S. methane emissions. These projects will associate President Biden's U.S. Methane Emissions Reduction Action Plan, disclosed in 2021 at the United Nations Climate Change Conference (COP26) that searches for ways to lower methane emissions and stimulate American innovation and production of the latest technologies to achieve climate goals.
November 2021 - Jonah Energy LLC has received the Gold Standard for its primary data submission at the Oil and Gas Methane Partnership 2.0 (OGMP 2.0) sponsored by the United Nations. The Gold Standard is offered to the firms, which produce and deploy robust plans and strategies to incorporate certified emissions measurement, and was given in the first annual report of UNEP's International Methane Emissions Observatory (IMEO), "An Eye on Methane."
The goal of IMEO is to allow and boost action to lower man-made emissions of methane. OGMP 2.0 is the first measurement-based, comprehensive framework particularly engineered for the oil and gas industry.
In the year 2019, liquefied natural gas was highly in demand. It was actively exported by the USA and Russia to other nations. This boosted the methane industry as well.
In the year 2020, it was seen that the demand for natural gases was growing at a constant rate to the detriment of coal and methane.
This report about the Global Methane Market Trends includes the following elements:
This research report provides a comprehensive study about the Global Methane Market Outlook. It includes a thorough analysis of its market trends and the areas of new advancements. Methane gas is highly in demand because it can be put to a variety of uses. It is present in abundance as it is utilized by several industries such as natural gas and petroleum, chemical industry, electricity, and heath generating industries, etc. It is highly inflammable and explosive, thus, its storage and transportation are not easy.
|Market Size||2030: Significant Value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Source, Application, End-use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Oil and Natural Gas Corporation (India), Royal Dutch Shell PLC (The Netherlands), Senex Energy Limited(Australia), G3 Exploration (UK), Black Diamond Energy Inc.(US), Halliburton Co. (US), IGas Energy (UK), China National Offshore Oil Company (China), China National Petroleum Corporation (China), Metgasco Ltd. (US), BP PLC (UK) and TLOU Energy Ltd (Australia), Dart Energy Corporation (US), Bow Energy (Canada), American Gas Products (US)|
|Key Market Opportunities||The introduction of shale gas technology is providing an opportunity for the robust growth of the methane gas market.|
|Key Market Drivers||Methane gas is extensively utilized in the manufacturing and processing of fuel and generating electricity.|
Frequently Asked Questions (FAQ) :
Issues related to storage and transportation and the explosive nature of the methane gas can prevent the natural growth of the methane market.
End user industries like aerospace & defense, automotive, chemical, electrical, and others can assist the growth of the methane market.
The Asia Pacific is expected to make major impact on the methane market.
The automotive industry would impact the European methane market, notably.
Methane’s use to manufacture fuel is the prime reason behind the growth of the methane market.