Rising demand for reduced waste feedstock is expected to drive the demand for Green Methanol Market during the forecast period, 2024-2028. According to the TechSci Research report, “Green Methanol Market 2028- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, The global green methanol market is expected to grow at an impressive rate during the forecast period, 2024-2028.
The Important Elements of the Green Methanol Market
Green methanol is a low-carbon fuel that can be made from either biomass gasification or renewable electricity and captured carbon dioxide (CO2). Green methanol cuts carbon dioxide emissions by up to 95%, reduces nitrogen oxide emissions by up to 80%, and completely eliminates sulfur oxide and particulate matter emissions. The demand for fuel-grade blending chemicals with fossil fuel as well as construction applications, results in the growing requirement for green methanol leading to the rise in demand for green methanol worldwide.
In addition, growing demand from paint & coatings, pharma, marine, and others are the crucial factors that drive the market’s growth. Thus, the need for the global green chemical market is expected to rise during the forecast period.
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The Global Green Methanol Market is segmented based on feedstock, type, and application. Based on feedstock, the market is divided into agricultural waste, forestry residues, municipal solid waste, CO2 emission, and others. CO2 emissions are expected to hold the largest market share during the forecast period, 2024-2028. Since global warming and environmental pollution are the main concerns, therefore utilization of CO2 and conversion it to other value-added chemicals is more in demand in its segment and dominates the market in the upcoming years.
Based on type, the market is bifurcated into Bio-Methanol and E-Methanol. As per estimates, the bio-methanol segment is expected to experience the highest market share during the forecast period. Due to the utilization of biomass waste and technological advancement, the need for different applications is generated rapidly. As green methanol produces derived chemical which is further used in blending with standard fuel as a source of alternate fuel with less carbon emission. Hence, it is expected to dominate the market.
Based on application, the market is divided into fuel grade, chemical feedstock, and others. As per estimates, the chemical feedstock segment is expected to register the highest market share during the forecast period. Green methanol has completely changed the chemical sector from harmful chemicals to non-toxic and renewable chemicals. Thus, the chemical feedstock segment dominates the market.
A huge luxury boat with a methanol-powered propulsion system that runs on carbon-zero-green methanol has been developed and will be built by the yacht builder Sanlorenzo (from Italy) and the Rolls-Royce company, according to an announcement in September 2022.
The delivery of up to 60,000 metric tonnes per year of liquefied biogenic carbon dioxide over the following 10 years has been agreed upon by European Energy and Anaergia in order to generate e-methanol, declare in August 2022.
Major operating companies operating in the global green methanol market are:
- BASF SE
- Carbon Recycling International (CRI)
- Haldor Topsoe Holding A/S
- OCI N.V.
- A.P. Moller – Maersk A/S
- Södra Skogsägarna
- Enerkem Inc
- Nordic Green ApS
- Methanex Corporation
- Mitsubishi Gas Chemical Company, Inc. (MCG)
- ABEL Energy Pty Ltd.
- Southern Green Gas Limited
- Liquid Wind AB
- Synhelion SA
- Eni S.p.A.
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“Europe is expected to dominate the Global Green Methanol Market in the coming years due to its government policies, manufacturing expertise, and innovation capabilities. The continuous emergence of new applications and growing awareness about green methanol is expected to drive the Global Green Methanol Market.
Aside from that, government policies on export and trade, rising R&D spending, and organizational initiatives are what really drive the market. Furthermore, the growing demand from marine, pharma, paint and coating, aviation, construction, and electronics are expected to enhance the green methanol market till 2028.” 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 (Agricultural Waste, Forestry Residues, Municipal Solid Waste, CO2 Emission, Others), By Type (Bio-Methanol, E-Methanol), By Application (Fuel Grade, Chemical Feedstock, Others), By Region, By 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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