The global Green Methanol market is projected to experience significant growth from 2024 to 2030, fueled by increasing government regulations aimed at reducing carbon dioxide emissions and combating climate change. Green methanol, derived from renewable sources such as captured CO2 and renewable hydrogen, is emerging as a sustainable alternative to conventional methanol produced from fossil fuels. This shift towards green methanol is driven by the need for industries to adopt more environmentally friendly practices.
According to a recent report by ResearchAndMarkets.com, the global Green Methanol market is estimated to grow from USD 1.9 billion in 2024 to USD 11.1 billion by 2030, at a CAGR of 33.8% during the forecast period. This growth is attributed to the stringent government regulations that incentivize industries to adopt green methanol as a sustainable alternative to traditional methanol derived from fossil fuels.
The report categorizes and forecasts the green methanol market size based on feedstock, derivative, application, and region. It highlights the key drivers, restraints, opportunities, and challenges influencing the growth of the market. Additionally, the report provides insights on upcoming technologies, research and development activities, and market developments within the green methanol industry.
By feedstock, carbon capture and storage (CCS) is projected to be the fastest-growing segment of the green methanol market from 2024 to 2030. CCS technology captures CO2 from factories or the air, stores it underground to prevent it from contributing to climate change, and uses it along with renewable hydrogen to produce methanol. Governments are supporting CCS with incentives and taxes to encourage its use, making it a cost-effective and sustainable source of carbon dioxide for making methanol.
In terms of application, fuel is expected to be the fastest-growing segment in the green methanol market from 2024 to 2030. The fuel segment is anticipated to grow rapidly due to stricter environmental regulations and a shift towards sustainable energy. Green methanol provides a lower-carbon alternative for sectors like shipping, transportation, and power generation, making it an attractive option for industries looking to reduce their carbon footprint.
North America is projected to witness the highest CAGR in the green methanol market during the forecast period, driven by the European Union’s ambitious climate goals and strict environmental regulations. North American companies are leading in green methanol production technology and infrastructure development, positioning them well to capture a larger market share.
Key players in the green methanol market include Proman (Switzerland), Sodra (Sweden), OCI (The Netherlands), SunGas Renewables Inc. (US), ABEL Energy Pty Ltd. (Australia), Carbon Recycling International Inc. (Iceland), Petroliam Nasional Berhad (PETRONAS)(Malaysia), Mitsubishi Gas Chemical Company, Inc. (Japan), Methanex Corporation (Canada), Envision Energy (China), Alberta-Pacific Forest Industries Inc. (Canada), and Enerkem (Canada), among others.
In conclusion, the global Green Methanol market is poised for significant growth from 2024 to 2030, driven by increasing government regulations, technological advancements, and a shift towards sustainable energy. The market offers lucrative opportunities for players in various regions and applications, making green methanol a key player in the transition towards a more sustainable future.