Global Green Methanol Market Anticipated to Garner $12,478.5 Million, Growing at a 37.8% CAGR in the 2022-2031 Timeframe [300-Pages] | Explained by Research Dive

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06 Jun, 2023, 10:59 GMT

The global green methanol market is expected to grow primarily due to the need to lower carbon emissions. Municipal solid waste (MSW) sub-segment is expected to flourish immensely. The market in the Asia-Pacific region is predicted to grow at a high CAGR by 2031.

NEW YORK, June 6, 2023 /PRNewswire/ -- 

Global Green Methanol Market Forecast Analysis:

As per the report published by Research Dive, the global green methanol market is expected to register a revenue of $12,478.5 million by 2031, growing at a CAGR of 37.8% during the forecast period 2022-2031.

Segments of the Green Methanol Market

The report has divided the green methanol market into the following segments:

  • Type: bio-methanol and e-methanol
    • Bio-methanol – Most dominant in 2021
      The demand for sustainable and renewable energy sources, as well as an increasing awareness of how traditional fuels affect the environment, are expected to boost the sub-segment in the 2022–2031 timeframe.
  • Feedstock: municipal solid waste (MSW), agricultural waste, forestry residues, carbon dioxide, and renewable hydrogen
    • Municipal Solid Waste (MSW) – Highest market share in 2021
      The production of green methanol from waste streams like MSW provides opportunities to enhance a green methanol plant's economics and simplify feedstock logistics. This is expected to push the growth of this sub-segment further.
  • Application: chemical uses (formaldehyde, methanol-to-olefins, acetic acid, methyl methacrylate (MMA), methyl chloride (chloromethane), and others) and fuel uses (gasoline blending, methyl tert-butyl ether (MTBE), biodiesel, and dimethyl ether (DME) 
    • Chemical Uses – Most profitable in 2021
      A rise in the need for sustainable chemicals across a variety of industries, including those that use plastics, paint, and solvents, is expected to propel the sub-segment forward.
  • End use Industry: automotive, steel industry, chemical, power generation, and others
    • Automotive – Most lucrative in 2021
      Green methanol can be blended with gasoline to minimize greenhouse gas emissions and enhance fuel efficiency, and an increase in the need for alternative fuel sources to decrease carbon emissions and fight climate change is anticipated to push the sub-segment forward.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • Asia-Pacific – Significant market share in 2021
      A rise in demand for environmentally friendly and renewable energy sources is predicted to propel the market in the forecast period.

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Dynamics of the Global Green Methanol Market

The rising demand for electric cars is expected to make the green methanol market a highly profitable one in the forecast period. Additionally, green methanol is becoming more popular as a form of transportation fuel, especially in the marine and shipping sectors, which is predicted to propel the market forward. However, high expenses for producing green methanol might become a restraint in the growth of the market.

A rise in the need for sustainable energy sources is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, the shift towards renewable chemicals to meet the rising demand for sustainable alternatives to fossil fuels is expected to propel the green methanol market forward in the coming period.

COVID-19 Impact on the Global Green Methanol Market

The COVID-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The green methanol market, too, was negatively impacted due to the pandemic. The pandemic has hampered global supply chains, which has caused delays in the development of new green methanol factories and the maintenance of existing ones. Moreover, governments all over the world had to shift their attention to healthcare and emergency response, which caused a reduction in support and funding for renewable energy projects like green methanol production. These factors significantly hindered the market growth amidst the pandemic.

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Key Players of the Global Green Methanol Market

The major players of the market include

  • Methanex Corporation
  • BASF SE
  • Carbon Recycling International
  • Fraunhofer
  • Enerkem
  • Innogy
  • OCI N.V.
  • Vertimass LLC
  • Nordic Green
  • Uniper SE

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

For instance, in April 2023, Maersk, a Danish transportation and logistics firm, announced the first containership in the world that could sail on green methanol.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.

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