Green methanol is a low-carbon fuel that can be made from either biomass gasification or renewable electricity and captured carbon dioxide. Also, it is utilized as a fuel for transportation or as a sustainable energy storage medium for power produced by renewable sources. The need for alternative energy sources and fuels is growing due to the ongoing climate crisis, and green methanol is becoming increasingly popular due to its potential to help scale up environmentally friendly methanol technology and promote a sustainable future.
The
Green Methanol
Market is expected to grow at a steady rate of around 39% owing to the
growing demand for green methanol from the shipping industry as a clean and
sustainable fuel source. Major companies in the market offer green methanol for power generation
applications with technologically advanced features. For instance, in
September 2022, Sanlorenzo and Rolls-Royce announced to develop and build a
large luxury yacht equipped with a methanol-powered engine propulsion system
that would be running on carbon-neutral green methanol.
𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=31043
According to UnivDatos Market Insights
(UMI)’ research report “Global Green Methanol Market”,
the market is expected to witness robust growth during the forecast period (2022-2028).
This is mainly due to the growing demand for green methanol in the chemical
industry coupled with the high adoption of green methanol in the transportation
industry. For instance, WasteFuel, a California-based developer of
bio-refineries focused on converting municipal solid waste into low-carbon
fuels launched the WasteFuel Methanol Module, a new technology that will
significantly accelerate the use of organic waste to produce green methanol.
Based on feedstock, the market is segmented into agricultural waste,
forestry residues, municipal solid waste, CO2 emission, and others. The CO2
emission category is to witness higher CAGR during the forecast period because
it is simpler and more readily available than with other feedstocks.
Additionally, it helps industries in profit-making and adhering to
environmental rules on the decrease of carbon dioxide emissions. Furthermore,
the initiatives taken by the government are aiding the growth of the CO2
emission market. For instance, In August 2022, European Energy signed an
agreement with Anaergia for the supply of up to 60,000 metric tons per year of
liquefied biogenic carbon dioxide (CO2) for a period of the next ten years.
Where European Energy use this CO2 to produce e-methanol for A.P. Moller –
Maersk as part of their previously signed agreement in March 2022.
𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=31043
Based on the application,
the market is categorized into
formaldehyde, methyl-tert-butyl-ether, gasoline, solvent, and others. Among
these, formaldehyde to hold a significant share of the market in 2020. This is
mainly due to the advantages formaldehyde offers as compared to its
counterparts. Formaldehyde has been witnessing higher adoption as most glues
for plywood, chipboard, or particleboard, furniture production, and the
building industry are made with formaldehyde-based resins. In addition, the
demand for formaldehyde is rising as the building sector expands in both
developed and emerging nations which is driving the growth of the market.
Based on the end-user,
the green methanol market has been
classified into chemical, transportation, power generation, and others. The
transportation category is to witness the highest adoption of green methanol during the forecast period. This is mainly
due to the rising emphasis on the decarbonization of the marine industry.
Additionally, it is also used as a fuel for vehicles and as a means of storing
renewable energy. It is projected that the demand for green methanol from the
transportation sector will increase because of the rising price and decreasing
supply of conventional fuels like gasoline and diesel during the forecasted
period.
APAC to witness extensive growth
For a better understanding of the market
adoption of the green methanol industry, the market is analyzed based on its
worldwide presence in the countries such as North America (U.S., Canada, Rest
of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of
Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of
World. APAC is
anticipated to grow at a substantial CAGR during the forecast period. This is
mainly because green methanol is in higher demand in developing economies like
China, India, Japan, and South Korea because of the rapidly expanding methanol
consumption by the construction, automotive, and chemical industries. In
addition, the government taking initiatives to increase the use of renewable
fuel sources is driving the demand in the market. Furthermore, various market
players across the globe are investing in green methanol R&D for the use of
various end-user industries. For instance, Geely Holding Group and Jilin
Zixin Pharmaceutical Co. Ltd are generating green methanol in their respective
production facilities to support sustainable E-Fuels.
For More
Informative Information, Please Visit Us – https://univdatos.com/report/green-methanol-market/
According to UnivDatos Market Insights (UMI)’,
the key players with a considerable market share in the green methanol market
are BASF SE,
Enerkem, Methanex Corporation, Carbon Recycling International, Southern Green
Gas, OCI N.V., A.P. Møller – Mærsk A/S, Nordic Green Aps, Södra Skogsägarna,
and Advanced Chemical Technologies Inc.
“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
Feedstock (Agricultural Waste, Forestry Residues,
Municipal Solid Waste, CO2 Emission, and Others)
2. By
Application (Formaldehyde, Methyl-Tert-Butyl-Ether, Gasoline, Solvent, and
Others)
3. By
End-User (Chemical, Transportation, Power Generation, and Others)
4. By
Region (North America, Europe, Asia-Pacific, Rest of
the World)
5. By
Company (BASF SE, Enerkem, Methanex Corporation,
Carbon Recycling International, Southern Green Gas, OCI N.V., A.P. Møller –
Mærsk A/S, Nordic Green Aps, Södra Skogsägarna, and Advanced Chemical
Technologies Inc.)
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 feedstock, application, and 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 is the customer orientation,
purchase behavior, and expectations from the global green methanol suppliers
across various region and countries?
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