PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1519290
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1519290
The global Green Methanol market is projected to grow from USD 1.9 billion in 2024 to USD 11.1 billion by 2030, at a CAGR of 33.8% during the forecast period.
Scope of the Report | |
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Years Considered for the Study | 2021-2022 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Million/Billion), Volume (Kilotons) |
Segments | Green Methanol by region, feedstock, applications and derivatives |
Regions covered | Europe, Asia Pacific, South America, North America, and Middle East & Africa |
This growth is propelled by stringent government regulations aimed at reducing carbon dioxide emissions and combating climate change. Green methanol, produced from renewable sources such as captured CO2 and renewable hydrogen, serves as a sustainable alternative to conventional methanol derived from fossil fuels. This regulatory environment incentivizes industries to adopt green methanol.
"By feedstock, the carbon capture and storgae is estimated to be the fastest-growing segment of green methanol market during 2024 to 2030 in terms of volume."
Carbon capture and storage (CCS) is growing quickly as a feedstock for green methanol because it helps reduce carbon emissions and provides a sustainable source of carbon dioxide (CO2) for making methanol. CCS technology captures CO2 from factories or the air, stores it underground to prevent it from adding to climate change, and then uses it along with renewable hydrogen to produce methanol.
The reason CCS is leading in growth is that it offers a cost-effective way to get CO2 for making methanol while meeting strict environmental rules. Governments are supporting CCS with incentives and taxes to encourage its use. As industries and economies focus more on cutting emissions, CCS is becoming a key part of making green methanol, helping industries become more sustainable.
"By application, fuel is estimated to be the fastest-growing segment of green methanol market during 2024 to 2030."
Fuel is expected to be the fastest-growing application segment in the green methanol market from 2024 to 2030.The fuel segment is anticipated to grow rapidly due to stricter environmental regulations and a shift towards sustainable energy. Green methanol provides a lower-carbon alternative for sectors like shipping, transportation (either blended with gasoline or used in specific engines), and power generation. Its high energy density and compatibility with existing infrastructure make it an attractive option for the transportation sector, facilitating easier adoption without significant infrastructure changes.changes.
"The green methanol market in North America region is projected to witness the highest CAGR during the forecast period."
North America is projected to witness the highest CAGR in the green methanol market during the forecast period. North America is expected to register the highest CAGR in the green methanol market from 2024 to 2030, driven by the European Union's ambitious climate goals and strict environmental regulations. North American companies are leading in green methanol production technology and infrastructure development, positioning them well to capture a larger market share.
Key players in the green methanol market include OCI (The Netherlands), Proman (Switzerland) and Sodra (Sweden), SunGas Renewables Inc. (US), ABEL Energy Pty Ltd. (Australia), Carbon Recycling International Inc. (Iceland), Petroliam Nasional Berhad (PETRONAS)(Malaysia), Mitsubishi Gas Chemical Company, Inc. (Japan), Methanex Corporation (Canada), Envision Energy (China), Alberta-Pacific Forest Industries Inc. (Canada), Enerkem (Canada) and others.
The report outlines, categorizes, and forecasts the green methanol market size across derivatives, sub-derivatives, end-uses, and geographical regions. It provides strategic profiles of major players, thoroughly examining their market presence and key strengths. Additionally, the report monitors and evaluates competitive activities such as acquisitions, agreements, investments, joint ventures, mergers, product launches, expansions, divestments, and partnerships undertaken by these players within the market.