The Global Green Methanol Market Size is valued at 3.61 billion in 2022 and is predicted to reach 6.58 billion by the year 2031 at an 7.05% CAGR during the forecast period for 2023-2031.
A low-carbon molecule called "green methanol" is made by burning biomass, using clean power, or capturing carbon dioxide (CO2). Green methanol is an environmentally beneficial substitute for traditional chemicals and fossil fuels. Like regular methanol, it has a variety of end uses in the chemical, power generating, automotive, construction, etc. industries.
The main factor driving the worldwide green methanol market is strict environmental rules that restrict carbon dioxide emissions in order to lessen pollution and global warming. For use in transportation, energy production, and industrial services, there has been a surge in the consumption of gasoline, diesel, and other chemicals in recent years.
Augmented emissions of greenhouse gases such as carbon dioxide, nitrous oxide, sulfur dioxide, and particulate matter have been the effect of this. As a result, strict environmental laws were imposed by various nations and international regulatory bodies to reduce greenhouse gas emissions. Various NGOs, in addition to governments, support the usage of green methanol. The market for green methanol is expected to grow rapidly as a result of all these factors.
However, the green methanol market is expected to grow slowly due to the high installation costs involved in producing green methanol. One of the primary references when choosing the location of a green methanol-generating plant is ensuring an unbroken supply of feedstock. The plant's location is the primary determinant of the expenses associated with producing green methanol.
Recent Developments:
- In Feb 2023, A Memorandum of Understanding (MoU) was signed by Uniper and Greenko ZeroC Private Limited, allowing Uniper to engage in exclusive talks for the offtake of green ammonia from Phase 1 of Greenko ZeroC's ammonia manufacturing facility in Kakinada. According to the MoU, Greenko and Uniper seek to establish a supply, tenure, and price structure that is unique in the industry for a supply and purchase agreement for 250,000 tonnes of green ammonia annually (GASPA) based on the Heads of Terms.
- In June 2022, Following the completion of the technical verification of the gasification of forest wastes for the manufacture of renewable methanol for shipping, Cortus Energy has engaged in a term sheet with the Norwegian firm Glocal Green AS. The Norwegian shipping sector believes that renewable methanol is the best method to phase out fossil fuels and safeguard the industry's future.
Competitive Landscape:
The key players in the green methanol market are:
- P. Moller – Maersk
- ABEL Energy Pty Ltd.
- Advanced Chemical Technologies
- BASF SE
- Carbon Recycling International (CRI)
- Enerkem Inc.
- European Energy, Eni S.p.A.
- Fraunhofer GmbH
- GIDARA Energ
- Glocal Green
- HIF Global
- Innogy SE
- Liquid Wind AB
- Methanex Corporation
- Mitsubishi Gas Chemical Company, Inc. (MCG)
- Nordic Green ApS
- OCI N.V.
- Saudi Basic Industries Corporation
- Sodra Skogasagarma
- Southern Green Gas Limited.
- Synhelion SA
- Uniper SE
- Vertimass LLC
- WasteFuel
Market Segmentation:
The green methanol market is segmented on the feedstock, application, and end-use. Based on feedstock, the market is segmented into agriculture waste, forestry residues, municipal solid waste, CO2 emission and others. Based on application, the green methanol market is segmented into formaldehyde, methyl-tert-butyl-ether, gasoline, solvent and others. Based on end-use, the green methanol market is segmented into chemical, transportation, power generation and others.
Based on feedstock type, the CO2 emissions segment is accounted as a significant contributor to the green methanol market
The CO2 emissions category grabbed the highest revenue share, and it is anticipated that it will continue to hold that position during the anticipated time. The ability to extract CO2 from the atmosphere and industrial exhaust streams has been made possible by technical breakthroughs. Cement and steel mills, distilleries, and power plants, for instance, all produce carbon dioxide, which can be used to create methanol. Many businesses have started using CO2 to create sustainable methanol. Each year, Carbon Recycling International processes 5,600 metric tonnes of carbon dioxide into 4,000 metric tonnes of renewable methanol by reacting to renewable hydrogen. Additionally, Thyssenkrupp is crucial in producing renewable methanol from used CO2.
The formaldehyde segment witnessed growth at a rapid rate.
The formaldehyde category is anticipated to grow significantly over the forecast period. Methanol's main use is in the production of formaldehyde. Despite being the most basic aldehyde, formaldehyde is also the most important in commerce. Typically, it is referred to as "methanal" (CH2O). Automotive (antifreeze, brake pads, fuel system, under-bonnet components, etc.), construction (paints, coatings, carpet underlay, wood and ply adhesives, adhesives, wood panels, etc.), consumer products (furniture, carpeting, cosmetics, solvents, cabinets, paper towels, etc.), and healthcare applications are just a few of the many industries that use formaldehyde (pharmaceutical research, vaccine manufacturing, hard gel capsule manufacturing, etc.).
In the Asia Pacific, the green methanol market holds a significant revenue share in the region.
The Asia Pacific green methanol market is expected to register the highest market share in revenue in the near future. Demand for green methanol is anticipated to rise in the region as methanol consumption increases quickly in the building, automotive, and electricity generation sectors in nations including China, India, Japan, and South Korea. To encourage green methanol, major market participants in these nations are working with businesses in the automotive, construction, and other industries. In addition, North America is projected to grow rapidly in the global green methanol market because of rising investments in R&D, the existence of a mature end-user industry, and the accessibility of substantial biomass supplies. As the most significant producer of biofuels in the world, the United States uses more renewable energy to produce electricity.
Green Methanol Market Report Scope
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 3.61 billion |
|
Revenue forecast in 2031 |
USD 6.58 billion |
|
Growth rate CAGR |
CAGR of 7.05% from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, Volume (Kiloton) and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments covered |
Feedstock, Application, End-use |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
BASF SE,Advanced Chemical Technologies, Uniper SE, Fraunhofer GmbH, Enerkem Inc., Innogy SE, Nordic Green ApS, Vertimass LLC, Saudi Basic Industries Corporation, and Södra Skogsägarna |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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