Green Methanol Market: Current Analysis and Forecast (2022-2028)
Emphasis on Feedstock (Agricultural Waste, Forestry Residues, Municipal Solid Waste, Co2 Emission, And Others); Application (Formaldehyde, Methyl-Tert-Butyl-Ether, Gasoline, Solvent, and Others); End-User (Chemical, Transportation, Power Generation, and Others); and Region/Country
Global Green Methanol Market is expected to grow at a significant rate of around 39% during the forecast period. Green methanol is a low-carbon fuel that can be made from either biomass gasification or renewable electricity and captured carbon dioxide. Also, it is utilized as a fuel for transportation or as a sustainable energy storage medium for power produced by renewable sources. The need for alternative energy sources and fuels is growing due to the ongoing climate crisis, and green methanol is becoming increasingly popular due to its potential to help scale up environmentally friendly methanol technology and promote a sustainable future. Major companies in the market offer green methanol for power generation applications with technologically advanced features. For instance, in September 2022, Sanlorenzo and Rolls-Royce announced to develop and build a large luxury yacht equipped with a methanol-powered engine propulsion system that would be running on carbon-neutral green methanol.
BASF SE, Enerkem, Methanex Corporation, Carbon Recycling International, Southern Green Gas, OCI N.V., A.P. Møller – Mærsk A/S, Nordic Green Aps, Södra Skogsägarna, and Advanced Chemical Technologies Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst feedstock, CO2 emission category is to witness the highest CAGR during the forecast period”
Based on feedstock, the market is segmented into agricultural waste, forestry residues, municipal solid waste, CO2 emission, and others. The CO2 emission category is to witness higher CAGR during the forecast period because it is simpler and more readily available than with other feedstocks. Additionally, it helps industries in profit-making and adhering to environmental rules on the decrease of carbon dioxide emissions. Furthermore, the initiatives taken by the government are aiding the growth of the CO2 emission market. For instance, In August 2022, European Energy signed an agreement with Anaergia for the supply of up to 60,000 metric tons per year of liquefied biogenic carbon dioxide (CO2) for a period of the next ten years. Where European Energy use this CO2 to produce e-methanol for A.P. Moller – Maersk as part of their previously signed agreement in March 2022.
“Amongst application, formaldehyde to hold a significant share of the market in 2020”
On the basis of application, the market is categorized into formaldehyde, methyl-tert-butyl-ether, gasoline, solvent, and others. Among these, formaldehyde to hold a significant share of the market in 2020. This is mainly due to the advantages formaldehyde offers as compared to its counterparts. Formaldehyde has been witnessing higher adoption as most glues for plywood, chipboard, or particleboard, furniture production, and the building industry are made with formaldehyde-based resins. In addition, the demand for formaldehyde is rising as the building sector expands in both developed and emerging nations which is driving the growth of the market.
“Amongst end-user, the transportation category is to witness the highest adoption of green methanol during the forecast period”
Based on end-user, the green methanol market has been classified into chemical, transportation, power generation, and others. The transportation category is to witness higher adoption of green methanol during the forecast period. This is mainly due to the rising emphasis on the decarbonization of the marine industry. Additionally, it is also used as a fuel for vehicles and as a means of storing renewable energy. It is projected that the demand for green methanol from the transportation sector will increase because of the rising price and decreasing supply of conventional fuels like gasoline and diesel during the forecasted period.
“APAC to hold a significant share in the market”
In 2020, APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly because green methanol is in higher demand in developing economies like China, India, Japan, and South Korea because of the rapidly expanding methanol consumption by the construction, automotive, and chemical industries. In addition, the government taking initiatives to increase the use of renewable fuel sources is driving the demand in the market. Furthermore, various market players across the globe are investing in green methanol R&D for the use of various end-user industries. For instance, Geely Holding Group and Jilin Zixin Pharmaceutical Co. Ltd are generating green methanol in their respective production facilities to support sustainable E-Fuels.
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 portfolio, 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 (2022-2028)
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 feedstock, application, and 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 various feedstock, applications, and end-users of green methanol. 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 2028 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 products 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 feedstock, application, and 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 feedstock, application, and end-user.
- Define and analysis of the regulatory framework for the green methanol
- 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 region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- 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
Related Reports
Customers who bought this item also bought
