Uploaded on Jan 29, 2024
The global bio-LNG market was valued at $0.7 billion in 2022, and is projected to reach $3.4 billion by 2032, growing at a CAGR of 17.9% from 2023 to 2032.
Bio-LNG Market
Introduction
The bio-LNG market was valued at $0.7 billion in 2022, and is estimated to reach $3.4
billion by 2032, growing at a CAGR of 17.9% from 2023 to 2032.
A sustainable and renewable kind of liquefied natural gas (LNG), bio-LNG is produced
from biomass sources. As part of the biomass feedstock collection step in the
manufacture of bio-LNG, organic resources are first gathered. Animal manure,
sewage sludge, food waste, and energy crops are among the organic wastes used as
biomass feedstock. When biomass feedstock is treated to anaerobic digestion in the
absence of oxygen, microorganisms break down organic material. Methane and
carbon dioxide make up the majority of the biogas produced by the process.
The resultant biogas is subsequently processed to remove impurities and CO2. It
causes a methane concentration increase of more than 90% to equal natural gas
quality, depending on the intended usage.
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The biogas is cooled to extremely low temperatures, frequently below -160°C (-
256°F), in order to purify the methane present. During the purification process,
methane in biogas is refrigerated to extremely low temperatures, frequently below
-160°C (-256°F). Bio-LNG is made by converting a gas into a liquid. Numerous uses of
bio-LNG exist, including the production of energy and heating. It's also used to power
ships, buses, and other kinds of transportation.
Bio-LNG can be utilized independently or in conjunction with conventional LNG. It is a
more environmentally friendly and cleaner alternative to conventional LNG derived
from fossil fuels. The environmental benefits of bio-LNG include lower greenhouse
gas emissions and the encouragement of organic waste management for energy
production. As a result, the economy becomes more sustainable and circular.
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Key Findings Of The Study:
• By source, the household waste segment is projected to grow at the highest CAGR
of approximately 18.2%, in terms of during the bio-LNG market forecast period.
• By application, the automotive segment dominated the bio-LNG market share
growing at a CAGR of 18.3% in 2021.
• By region, Europe dominated the bio-LNG market and is expected to grow at a high
CAGR during the forecast period.
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The key players profiled in the report include:
Linde plc
Nordsol
Flogas Britain Ltd.
EnviTec Biogas AG
Biokraft International AB
TotalEnergies SE
Titan LNG
DBG Group B.V.
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