Green Methanol Market worth $11.1 billion by 2030
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.
Browse 225 market data Tables and 50 Figures spread through 192 Pages and in-depth TOC on "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"
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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.
By feedstock, the biomass segment is largest during 2024 to 2030 by volume of green methanol market.
The biomass segment, a rapidly growing part of the green methanol market, benefits from the availability of diverse organic materials such as agricultural residues, forestry waste, and municipal solid waste. Biomass is a renewable resource that can be consistently replenished, providing a reliable supply for methanol production. Additionally, government incentives for using renewable resources like biomass make biomethanol production economically appealing. Biomass is often a cost-effective feedstock compared to other renewable sources like electrolysis-derived hydrogen.
By application, the fuel segment accounted for the fastest-growing share of the green methanol market during 2023 to 2030.
The transportation sector, particularly shipping, demands low-carbon alternatives to meet stringent emissions regulations. Green methanol serves as a sustainable substitute for conventional fossil fuels. The International Maritime Organization’s (IMO) regulations for reducing greenhouse gas emissions have heightened interest in green methanol as a marine fuel, given its lower emissions profile compared to traditional bunker fuels. Furthermore, government incentives and subsidies for green fuels are boosting the adoption of green methanol as a primary alternative fuel in various applications, including vehicles and ships, positioning fuel as the leading application for green methanol in the transition to a sustainable and low-carbon energy future.
North America is the leading region in the green methanol market.
North America leads in the green methanol market's CAGR, driven by regulatory support like Canada's Clean Fuel Standard and the U.S. Renewable Fuel Standard. Technological advancements, such as Carbon Clean Solutions' MTJet™ for sustainable aviation fuels, and significant industry collaborations, including Methanex and Gevo Inc., further boost growth. Government funding and incentives, along with growing adoption in the maritime and aviation sectors, underscore the region's commitment to sustainable energy solutions. Additionally, investments in carbon capture and utilization technologies, and the integration of green methanol with hybrid electric systems, enhance its appeal across various industries, positioning North America at the forefront of the global green methanol market.
Leading global green methanol manufacturers include OCI N.V. (Netherlands), Carbon Recycling International Inc. (Iceland), Methanex Corporation (Canada), Proman (Switzerland) and Södra (Sweden).
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