Green Methanol Market to Grow With a CAGR of 12.82% Through 2028

Growing awareness towards global warming and increasing demand of eco-friendly fuel are the major drivers of global green methanol market.

According to TechSci Research report, “Green Methanol Market - By Region, Competition, Forecast and Opportunities, 2028”, global green methanol market size was USD 190.21 million in 2022 and is anticipated to increase at a CAGR of 12.82% in the period, 2023-2028 . A significant factor fueling the growth of global green methanol market is the growing awareness towards global warming and rising demand of clean fuel. Carbon emissions, primarily in the form of carbon dioxide (CO₂), significantly affect climate change and global warming. As the world grapples with the consequences of rising temperatures, extreme weather events, and environmental degradation, governments and international organizations have recognized the urgent need to address carbon emissions.

Green methanol is a low-carbon fuel that cuts carbon dioxide emissions by 95%, reduces nitrogen oxide emissions by 80%, and completely eliminates sulfur oxide and particulate matter emissions. Moreover, increasing utilization of green methanol as marine fuel or fuel additives helps in reducing the carbon emission. In addition, green methanol in the form e-methanol can be used as a carbon-neutral alternative to conventional plastic components that are used in medical devices. Along with it, increasing government support for research & development activities as well as development of infrastructure for its production, storage, and distribution will result in enhancing the global green methanol market in the forecast period.

Furthermore, the market is being further stimulated by adoption of strict environmental regulations, high potential of green methanol, use as feedstock for various industries, and renewable energy storage solution.

Browse over 125 market data figures spread through 245 pages and an in-depth TOC on the "Global Green Methanol Market"

However, limited availability of renewable feedstock sources for bio-methanol and lack of infrastructure and distribution network slows down the growth of global green methanol market. Also, high production cost for E-methanol and expense on research & development further slowdown the global green methanol market growth.

Global green methanol market is segmented based on feedstock, type, application, and region.

Based on feedstock, the market is divided into CO₂ emissions, municipal solid waste, agricultural waste, forestry residues, and others. CO₂ emission is expected to hold the largest market share in the forecast period with 36.49% in 2023. As the global warming and environmental pollution are the main concern therefore utilization of CO₂ and conversion to other value-added chemicals increases.

Based on type, the market is categorized into bio-methanol and e-methanol. E-methanol is expected to increase their market share in the forecast period with 41.51% in 2023. This is due to increasing focus on the utilization of green hydrogen for the consumption of CO2 to convert into high quality methanol which are generated from the electrolysis process.

Based on application, the market is segmented into fuel grade, chemical feedstock, and others. Fuel grade is expected to hold the largest market share in the forecast period with 53.42% in 2023. It is due to increasing demand of low carbon fuel and its derivatives that are used in various transportation system producing less CO₂ and reduce the Sulphur & nitrogenous components emission in the environment.

Major companies operating in the global green methanol market are:

• OCI N.V.
• Methanex Corporation
• Enerkem Inc.
• Carbon Recycling International
• Södra Skogsägarna
• BASF SE
• Topsoe A/S
• Liquid Wind AB
• Eni S.p.A.
• ABEL Energy Pty Ltd.
• Thyssenkrupp AG
• Nordic Green ApS
• Mitsubishi Gas Chemical Co Inc
• Southern Green Gas Limited
• SunGas Renewables Inc.

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Europe is expected to grow at the highest rate during the forecast period due to presence of strong renewable energy sector which provide adequate amount of renewable feedstock for the production of green methanol. Along with it, strict government rules regarding the reduction of carbon emission from fossil fuels source and increasing focus on alternative sources creates lucrative opportunities for market growth. Furthermore, in North America, large number of research & development activities and various sustainability initiatives by the government including the development and promotion of green methanol create huge prospects of market growth during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Green Methanol Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Feedstock (CO2 Emissions, Municipal Solid Waste, Agricultural Waste, Forestry Residues, and Others), By Type (E-Methanol, Bio Methanol), By Application (Fuel Grade, Chemical Feedstock, and Others), By Region and Competition,” has evaluated the future growth potential of global green methanol market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global green methanol market.”

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