The report “Green Methanol Market by Feedstock (Biomass, Green Hydrogen, CCS), Derivative (Formaldehyde, Dimethyl Ether & Methyl Tert-Butyl Ether, Gasoline, Methanol-to-Olefin, Solvents), Application (Chemical Feedstock, Fuel), and Region – Global Forecasts to 2030”, is anticipated to expand from USD 1.9 billion in 2024 to USD 11.1 billion by 2030, registering a CAGR of 33.8% from 2024 to 2030. The rising emphasis on cutting greenhouse gas emissions and combating climate change is boosting demand for green methanol as a sustainable alternative to fossil fuel-derived methanol. Moreover, government policies aimed at encouraging the use of renewable energy and reducing greenhouse gas emissions are spurring investment and growth in the green methanol market.
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225 Market Data Tables
50 Figures.
201 Pages and in-depth TOC on “Green Methanol Market – Global Forecast to 2030”
Some of the noteworthy significant players include:
· OCI N.V (Netherlands)
· Carbon Recycling International Inc., Iceland.
Methanex Corporation (Canada)
· Proman, Switzerland.
· Södra (Sweden)
Driver: Increasing need for sustainable and renewable energy sources, as well as rising demand for green methanol in the automotive and construction market.
The growing need for sustainable and renewable energy sources is a significant driver of the green methanol market, as businesses strive to lower their carbon footprint and comply with environmental requirements. Furthermore, the automotive and construction industries are increasing their usage of green methanol due to its cleaner burning features and ability to cut emissions. This combined demand from energy sustainability efforts and specialized commercial uses accelerates the rise of green methanol.
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“By application fuel segment is estimated to account for the highest CAGR during the forecast period.”
The green methanol fuel category has the greatest CAGR due to technical breakthroughs, favorable government policies, and rising environmental consciousness. The maritime sector has experienced substantial uptake, notably since the IMO’s 2020 sulfur emission limits, with Maersk buying 12 green methanol-powered ships for 2024. In transportation, China’s Geely Auto Group will debut the first methanol-powered passenger vehicle in 2022, in line with China’s carbon-reduction ambitions. The aviation sector is also embracing green methanol, with Prometheus Fuels and Carbon Clean Solutions developing Sustainable Aviation Fuel (SAF) technologies to meet the IATA’s 2050 net-zero carbon emissions target. Government policies such as the European Union’s Fit for 55 package and the United States’ Inflation Reduction Act of 2022 provide significant support, while technological advancements such as Carbon Capture and Utilization (CCU) and advanced electrolyzers, as demonstrated by Carbon Recycling International in Iceland and Nel Hydrogen in Norway, are critical. Regionally, Europe leads with its Green Deal aiming for carbon neutrality by 2050, China drives growth in the Asia-Pacific with its dual carbon goals, and Canada invests heavily in green methanol through Methanex Corporation. Collaborations such as Methanex’s 2023 partnership with Enerkem Inc. To manufacture bio-methanol from garbage demonstrates the sector’s rapid expansion. As sustainability becomes a global concern, the usage of green methanol accelerates, resulting in significant market growth.
“North America is estimated to account for the highest CAGR during the forecast period.”
“North America is expected to have the highest CAGR growth in the green methanol market during the forecast period.” Several significant variables contribute to the North American green methanol market’s growth. Firstly, stringent environmental regulations and policies aimed at reducing greenhouse gas emissions are driving the demand for sustainable alternatives like green methanol. Secondly, significant investments in renewable energy infrastructure and advanced technologies support the production of green methanol. Third, the existence of significant industry players, as well as continuous R&D projects, help to expand the market. Additionally, government incentives and subsidies for green energy projects promote expansion. The growing awareness and dedication to sustainability in numerous industries contributes to the expanding demand for green methanol in North America.
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