Green Methanol market was valued at USD 225.1 million in 2022 & is expected to grow at a CAGR of 53.8% from 2023-2030. This is mainly owing to the government programs and incentives to promote cleaner renewable and increasing consumption of renewable fuel globally. The green methanol industry experienced tremendous growth in the past decade and is further anticipated to grow rapidly in upcoming years has led to the increasing adoption of green methanol in the market. End-user industries such as automotive, chemical, aviation, and others are becoming the major consumers of green methanol, as it is a more sustainable and environmentally friendly alternative to traditional fossil fuels.
The global green methanol market is a rapidly growing market due to the increasing demand for sustainable and renewable energy sources. Green methanol is a more sustainable and functionally equivalent alternative to conventional methanol, and demand is expected to grow significantly as the world focuses on reducing carbon emissions. Metanex, the world’s largest methanol producer, estimates that global methanol demand will be about 88 million tons in 2022, and is expected to increase by about 3%, or more than 14 million tons, over the next five years. A gradual switch to renewable methanol will support this increase. Demand for green methanol, is projected to grow substantially on the back of its growing popularity primarily as a marine fuel as the world focuses on cutting down carbon emissions.
Some of the major players operating in the market are Advanced Chemical Technologies, BASF SE, Carbon Recycling International, Enerkem, Fraunhofer, Innogy, Nordic Green, OCI N.V., Sodra, and Uniper SE.
Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst End-User, the Transportation segment held a dominating share of the market in 2022”
Based on End User, the Green Methanol market is divided into Transportation, Power Generation, and Industrial Feedstock segments. The transportation segment acquired a significant share in the Green Methanol market and is expected to showcase a substantial growth rate during the forecast period. Green methanol is used as an energy carrier for storing renewable electricity and transportation fuel. The automotive industry uses green methanol as a fuel because of its high-octane rating and the highest hydrogen-to-carbon ratio of any liquid fuel. Several projects are underway to develop innovative processes to convert CO2 into renewable methanol. This makes the production of green methanol from CO2 hydrogenation easier, more energy, and cost-efficient. For instance, Berlin-based climate technology startup C1 has announced the launch of the Leuna100 project with its partners. The aim of this project is the scalable production of market-ready green methanol for marine and aviation applications.
“Europe dominated the Green Methanol market in 2022”
Europe dominates the green methanol market due to the presence of several leading companies, such as Carbon Recycling International (CRI), European Energy, and Liquid Wind AB, in the region. In 2023, the European Parliament and the European Council agreed to increase the maritime transport sector`s contribution to the European Union Green Deal, which aims to EU reduce greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels, and reach climate neutrality by 2050. Almost all forms of methanol are expected to play a crucial role in decarbonizing the shipping sector by 2050 and much greater quantities of fully sustainable green methanol will be available as capacities scale up. Massive Green Methanol projects are being undertaken in the region with companies such as Vordingborg Biofuel ApS (300,000 mt/year), Dow (200,000 mt/year), Enerkem (220,000 mt/year) and Vycat & Hynamics (200,000 mt/year) constructing the highest capacity rated green methanol plants in Europe.
Green Methanol Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Green Methanol market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Green Methanol Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Green Methanol market were the three major steps undertaken to create and analyze the adoption of Green Methanol in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Green Methanol market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Green Methanol market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Green Methanol market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as End-User. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Green Methanol market. Further, we conducted factor analysis using dependent and independent variables such as End-User of the Green Methanol market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Green Methanol market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Green Methanol market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Green Methanol market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Green Methanol market in terms of technology offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Green Methanol market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of End-User in the global Green Methanol market.
The main objective of the Global Green Methanol Market Study
The current & future market trends of the global Green Methanol market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Green Methanol market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of End-User.
- Define and analysis of the regulatory framework for the Green Methanol industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Green Methanol market for the major regions
- Major countries of regions studied in the report include Asia Pacific and Europe
- Company profiles of the Green Methanol market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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