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A report on 'Biogas Liquefaction Market' has recently been added into the market research report database of Kenneth Research, which provides a full assessment to its readers on the growth prospects of the market, along with the potential business opportunities in the industry. The study, which focuses on the latest trends, business dynamics, growth opportunities and drivers that are influencing the market growth, also includes the market size and the compounded average growth rate (CAGR) for the forecast period 2022 and 2031. The report on Biogas Liquefaction Market also includes comprehensive analysis on both the macro- and micro-environmental factors that may influence the market growth during the forecast period. Additionally, analytical tools such as PESTEL analysis and Porter's five forces analysis are used to calculate and compile the factors that are acting as the driving force for the growth of the market.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Biogas Liquefaction Market products.
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The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
These major environmental concerns have led to shift towards more environment friendly and renewable fuel sources for clean energy. Biogas can be described as a clean, biological and renewable source of energy. Biogas are produced when organic materials such as manure, agricultural waste, plant material, municipal waste, green waste, sewage, food waste, and others are decomposed in anaerobic environment. The production of methane through biogas liquefaction is expected to be major factor to drive the market.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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The application of methane in manufacturing organic chemicals and its usage as a motor vehicle fuel is expected to be a major factor to boost the biogas liquefaction market. Owing to these factors the biogas liquefaction market is expected to propel during the forecast period (2018 – 2025).
Biogas Liquefaction: Gaining an Upward Trend
Biogas majorly contains of carbon dioxide, methane, siloxanes, moisture, and hydrogen sulphide. The biogas is purified, then processed and liquefied which could be used as fuel, thus this process is known as biogas liquefaction. The purest kind of liquid form biogas contains of about 97% of methane. Liquefied biogas has around 600 times more space advantage rather than in gaseous state, which makes the biogas much easier to be transported.
The two major technology used for liquefaction of biogas are conventional upgrading technology and cryo-technology. The biogas liquefaction market is expected to fuel a major growth during the forecast period. For instance, countries such as Netherlands and Sweden have started to use liquefied biogas for their application in automotive.
Some of the trucks and trains are using liquefied biogas as a source of fuel in Netherlands. In Sweden, public transport buses and cargo ships use liquefied biogas as a fuel source. The production of liquefaction biogas has led to maintenance of waste management across the globe. The biogas liquefaction market is expected to grow due to its advantage over other compressed gas, and has lower rate wastage produced.
Liquefied biogas burns out more clearly and cleanly, which emits lower amount of carbon dioxide (CO2), thus in turn helps to control the global environmental and pollution. Many automotive companies such General Motors have substituted diesel or petrol with liquefied biogas which is expected to boost the market.
Regional Acumens:
Europe is expected to be the fastest growing region for biogas liquefaction market during the forecast period. The Europe biogas liquefaction market is expected to grow at a faster rate due to shift of energy towards clean and renewable energy. High demand for biogas has indirectly or directly fueled the growth for biogas liquefaction manufacturing plant around the world.
According to the National Renewable Energy Laboratory (NREL), in Sweden, waste is imported from the neighboring countries to produce biogas, which is expected to boost the biogas liquefaction market in Europe. Sweden has around 11 new biogas liquefaction manufacturing plants in 2016. To meet 20% of Europe's energy demand, U.K, Sweden and France had expanded their liquefied biogas plant across Europe. Owing to these factors the biogas liquefaction market is expected to propel during the forecast period.
Market Players:
The global players are more focused on strategies to withstand their place in the competitive market with expansions, collaborations, mergers, partnership, acquisition, and innovations. For instance, in 2015, Air Liquide, had established a new manufacturing plant in Sweden to expand its capacity for biogas liquefaction.
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Major players for the biogas liquefaction market include Ameresco, Inc, Eisenmann SE, BioConstruct GmbH, Enspar GmbH, Energy & Waste S.L., EnviTec Biogas AG, Himark BioGas, Groth Corporation, Schmack Biogas GmbH, and Nova Analytical Systems Inc. among others.
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