Green Methanol Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

The global green methanol market is a rapidly growing market due to the increasing demand for sustainable and renewable energy sources. Green methanol is a more sustainable and functionally equivalent alternative to conventional methanol, and demand is expected to grow significantly as the world focuses on reducing carbon emissions. Metanex, the world's largest methanol producer, estimates that global methanol demand will be about 88 million tons in 2022, and is expected to increase by about 3%, or more than 14 million tons, over the next five years. A gradual switch to renewable methanol will support this increase. Demand for green methanol, is projected to grow substantially on the back of its growing popularity primarily as a marine fuel as the world focuses on cutting down carbon emissions.

The Green Methanol Market is expected to grow at a strong CAGR of 53.8% during the forecast period. This is mainly owing to the government programs and incentives to promote cleaner renewable and increasing consumption of renewable fuel globally. The green methanol industry experienced tremendous growth in the past decade and is further anticipated to grow rapidly in upcoming years has led to the increasing adoption of green methanol in the market. End-user industries such as automotive, chemical, aviation, and others are becoming the major consumers of green methanol, as it is a more sustainable and environmentally friendly alternative to traditional fossil fuels.

Green methanol is made from carbon dioxide and hydrogen produced from sustainable biomass, usually called biomethanol, or renewable electricity, usually called e-methanol. As more projects use renewable feedstocks and captured CO2, the term “renewable methanol” has also emerged to refer to methanol that significantly reduces greenhouse gas intensity and contributes to the end-use market energy transition. The use of green methanol in new and growing fuel applications and the increasing industry trend towards renewable methanol should soon create lucrative growth opportunities for the market.

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Based on End User, the Green Methanol market is divided into Transportation, Power Generation, and Industrial Feedstock segments. The transportation segment acquired a significant share in the Green Methanol market and is expected to showcase a substantial growth rate during the forecast period. Green methanol is used as an energy carrier for storing renewable electricity and transportation fuel. The automotive industry uses green methanol as a fuel because of its high-octane rating and the highest hydrogen-to-carbon ratio of any liquid fuel. Several projects are underway to develop innovative processes to convert CO2 into renewable methanol. This makes the production of green methanol from CO2 hydrogenation easier, more energy, and cost-efficient. For instance, Berlin-based climate technology startup C1 has announced the launch of the Leuna100 project with its partners. The aim of this project is the scalable production of market-ready green methanol for marine and aviation applications.

Europe to witness extensive growth

For a better understanding of the market adoption of Green Methanol, the market is analyzed based on its worldwide presence in countries such as Europe (Germany, Italy, United Kingdom, Netherlands, France, and Rest of Europe) and Asia-Pacific (China, Japan, Australia, South Korea, and Rest of Asia-Pacific). Europe is expected to attain a prominent share in the global Green Methanol Market during the forecast period, owing to stringent low-carbon fuel policies implemented across several European countries in order to reduce carbon emissions from fossil fuels and, in turn, meet zero-carbon targets. Europe dominates the green methanol market due to the presence of several leading companies, such as Carbon Recycling International (CRI), European Energy, and Liquid Wind AB, in the region. In 2023, the European Parliament and the European Council agreed to increase the maritime transport sector`s contribution to the European Union Green Deal, which aims to EU reduce greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels, and reach climate neutrality by 2050. Almost all forms of methanol are expected to play a crucial role in decarbonizing the shipping sector by 2050 and much greater quantities of fully sustainable green methanol will be available as capacities scale up. Massive Green Methanol projects are being undertaken in the region with companies such as Vordingborg Biofuel ApS (300,000 mt/year), Dow (200,000 mt/year), Enerkem (220,000 mt/year) and Vycat & Hynamics (200,000 mt/year) constructing the highest capacity rated green methanol plants in Europe.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Green Methanol market are Advanced Chemical Technologies, BASF SE, Carbon Recycling International, Enerkem, Fraunhofer, Innogy, Nordic Green, OCI N.V., Sodra, and Uniper SE.

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“Global Green Methanol Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentation:

1.      By End-User (Transportation, Power Generation, and Industrial Feedstock)

2.      By Region (Europe and Asia-Pacific)

3.      By Company (Advanced Chemical Technologies, BASF SE, Carbon Recycling International, Enerkem, Fraunhofer, Innogy, Nordic Green, OCI N.V., Sodra, and Uniper SE)

Key questions answered in the study:

1.      What are the current and future trends of the global Green Methanol industry?

2.      How the industry has been evolving in terms of End-User?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global Green Methanol industry?

5.      What are the customer orientation, purchase behavior, and expectations from the global Green Methanol suppliers across various regions and countries?