Green Methanol Market Trends

Skyquest Technology's expert advisors have carried out comprehensive research on the green methanol market to identify the major global and regional market trends and growth opportunities for leading players and new entrants in this market. The analysis is based on in-depth primary and secondary research to understand the major market drivers and restraints shaping the future development and growth of the industry.

Green Methanol Market Dynamics

Green Methanol Market Drivers

Government Support and Policies

  • The world governments are turning sustainability as a focal area, hence escalating the adoption of green methanol. The EU Green Deal, U.S. Renewable Fuel Standard, and carbon prices raise green technology investment with methanol being an economically sound alternative energy option in shipping, transport, and the chemicals industry.

Decarbonization Efforts

  • Restricting emissions cuts from hard-to-abate industries, especially heavy industry and transport, generates an increasing need for green methanol. As a sustainable fuel, it is assisting in achieving carbon neutrality targets, and thus its application in decarbonization efforts globally.

Green Methanol Market Restraints

High Production Costs

  • It involves costly processes like carbon capture and green hydrogen production, which are even more costly compared to conventional methanol. Elevated too high, operating and capital costs impair competitiveness, excluding mass application, especially in price-sensitive markets.

Infrastructure Limitations

  • A dearth of comprehensive fueling, transportation, and storage infrastructure for green methanol is a key market growth suppressor. Low availability of the infrastructure suppresses commercialization, particularly in emerging markets, which suppresses adoption and green methanol solution scaling.
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Global Green Methanol Market size was valued at USD 1.94 billion in 2023 and is poised to grow from USD 2.55 billion in 2024 to USD 22.81 billion by 2032, growing at a CAGR of 31.5% during the forecast period (2025-2032).

​ The global green methanol market is under dynamic competition, and governments are at the forefront in driving the trend. In Europe, the European Union's Horizon Europe and Green Deal program are driving investments in green methanol technology. For instance, Spain's Ecoplanta Molecular Solutions project, which is funded by the European Commission's Innovation Fund, will produce 240,000 metric tons of methanol per year by 2026 from non-recyclable waste with considerable reduction in greenhouse gas emissions. In Asia, China's aggressive promotion policies such as coercive blending of methanol in gasoline and massive investment in CO₂-to-methanol units are indicative of its plans for green methanol. An example of this project includes the Henan Shunli CO₂-to-Methanol Plant, with a capacity of 110,000 metric tons per year. In North America, companies like Texas-based Celanese are using CO₂ to manufacture methanol, with U.S. carbon capture technology subsidies helping. Latin America is working on green methanol with partnerships such as Porsche-Siemens Energy to manufacture synthetic fuels from wind power and CO₂, to the tune of 550 million liters by 2026.​ 'Carbon Recycling International (CRI) (Iceland)', 'eFuels Nordic (Sweden)', 'Nordic Green AS (Norway)', 'Electrochaea GmbH (Germany)', 'ENGIE (France)', 'Orsted (Denmark)', 'Copenhagen Infrastructure Partners (CIP) (Denmark)', 'European Energy (Denmark)', 'Lhyfe (France)', 'Storegga (United Kingdom)', 'Proman (Switzerland)', 'OCI Global (Netherlands)', 'LanzaTech) (USA)', 'Topsoe (Denmark)', 'Siemens Energy (Germany)', 'Mitsubishi Corporation (Japan)', 'Mitsui O.S.K. Lines (MOL) (Japan)', 'A.P. Moller - Maersk (Denmark)'

The world governments are turning sustainability as a focal area, hence escalating the adoption of green methanol. The EU Green Deal, U.S. Renewable Fuel Standard, and carbon prices raise green technology investment with methanol being an economically sound alternative energy option in shipping, transport, and the chemicals industry.

Why Asia Pacific dominating Green Methanol Market in 2024?

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Global Green Methanol Market
Green Methanol Market

Report ID: SQMIG45A2569

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