1. Home
  2. > Energy & Environment
  3. > Energy
  4. > Renewable Energy Market Trends
Green Methanol Market - A Global and Regional Analysis: Focus on End-Use Industry, Application, Methanol Type, and Region - Analysis and Forecast, 2022-2031

Green Methanol Market - A Global and Regional Analysis: Focus on End-Use Industry, Application, Methanol Type, and Region - Analysis and Forecast, 2022-2031

  • October 2022
  • 239 pages
  • ID: 6351418
  • Format: PDF
  • BIS Research

Summary

Table of Contents

Global Green Methanol Market to Reach $3,149.05 Million by 2031

Green Methanol Market Industry Overview

The global green methanol market is projected to reach $3,149.05 million by 2031 from $122.35 million in 2021, growing at a CAGR of 39.63% during the forecast period 2022-2031.

Green methanol or renewable methanol is produced from a variety of sources such as biomasses, including forestry and agricultural waste, byproducts, biogas, sewage, municipal solid waste (MSW), black liquor from the pulp and paper industry, carbon dioxide, and green hydrogen produced with renewable electricity. Methanol produced from biomass is called bio-methanol, and the one produced from CO2, green hydrogen, and renewable electricity is known as e-methanol.

Market Lifecycle Stage

Green methanol has been around for years now, with companies such as CRI, OCI N.V., and Chemrec AB being some of the earliest players in the market. Carbon Recycling International (CRI) set up a first-of-its-kind e-methanol demonstration plant in 2010-11 in Iceland and became the first company to start commercial production of e-methanol in 2012 under the brand name Vulcanol. OCI N.V.’s subsidiary BioMCN was the first company to enter bio-methanol production, with the first project starting in 2010 in the Netherlands with a capacity of 200 KT/year.

Since then, the market has grown significantly, with demand increasing every day owing to strict carbon-emission regulations in the maritime industry and growing emphasis on biofuels from the governments. The maritime industry, biofuels, and support from the government are expected to further drive the growth of the market during the forecast period.

Industrial Impact

The growth of the green methanol market is closely tied to the growing demand for green methanol from the maritime industry as a clean and sustainable fuel source.Growing demand for green methanol from the maritime industry has led to a growing number of project announcements for green methanol around the globe.

Additionally, a growing number of maritime shipping and logistic companies have announced the decision to include methanol-powered ships in their portfolio. For instance, in September 2022, the chairmen of China Merchants and COSCO Shipping Bulk announced that methanol as a primary source of fuel for their ships would be at the forefront of their research in the future.

Impact of COVID-19

The outbreak of COVID-19 has caused several delays in manufacturing operations, which have resulted in the slowdown of the green methanol market.Also, supply chain disruptions have negatively impacted the green methanol market.

Currently, companies are trying to secure long-term supply contracts with other suppliers to maintain smooth operations and an uninterrupted supply of green methanol to consumers.

Market Segmentation:
Segmentation 1: by End-Use Industry
• Transportation/Mobility
• Chemical Industry
• Power Generation
• Other End-Use Industry

The transportation/mobility segment is the largest end-use industry and is expected to dominate the market during the forecast period 2022-2031. The transportation/mobility segment is witnessing the growing adoption of green methanol due to the rising emphasis on the decarbonization of the marine industry.

Segmentation 2: by Application
• Fuel
• Chemical Feedstock
• Other Application

The fuel segment is the largest application segment and is expected to dominate the market during the forecast period 2022-2031.Green methanol is being used as a fuel, primarily in the maritime industry, owing to strict regulations and growing emphasis on the decarbonization of the maritime industry.

The International Maritime Organization (IMO) has set an ambitious target of reducing international shipping carbon emissions per transport work by at least 40% by 2030 and by 70% by 2050, from 2008 levels. This is expected to be one of the major drivers of the growing application of green methanol as fuel in the maritime industry.

Segmentation 3: by Methanol Type
• Bio-Methanol
• E-Methanol

The bio-methanol segment is the largest in methanol type and is expected to dominate the market during the forecast period 2022-2031.Bio-methanol is produced from biological feedstock such as forest residue, municipal solid waste (MSW), biogas, and biomass.

Bio-methanol production has been around for decades and does not require large investments, unlike e-methanol production, which requires large investments to set up green hydrogen and carbon capture plants.

Segmentation 4: by Region
• North America - U.S., Canada, and Mexico
• Europe - Germany, Denmark, Sweden, Netherlands, and Rest-of-Europe
• China
• U.K.
• Asia-Pacific and Japan - Japan, India, South Korea, Australia, and Rest-of-Asia-Pacific and Japan
• Rest-of-the-World - South America and the Middle East and Africa

Europe dominates the green methanol market due to the presence of several leading companies, such as Carbon Recycling International (CRI), European Energy, and Liquid Wind AB, in the region. A highly developed renewable energy market and growing investment from shipping companies such as Auramarine and A.P. Moller – Maersk are also contributing to the dominant share of Europe in the market.

Recent Developments in the Green Methanol Market

• In September 2022, Sanlorenzo – an Italian yacht builder, and Rolls-Royce announced their plans to develop and build a large luxury yacht equipped with a methanol-powered engine propulsion system that would be running on carbon-neutral green methanol. The first yacht built under this partnership will be equipped with two MTU (a core brand of Rolls-Royce) methanol engines from Rolls-Royce and is expected to set sail in 2026.
• In August 2022, European Energy signed an agreement with Anaergia for the supply of up to 60,000 metric tons per year of liquefied biogenic carbon dioxide (CO2) for a period of the next ten years. European Energy will use this CO2 to produce e-methanol for A.P. Moller – Maersk as part of their previously signed agreement in March 2022.
• In March 2022, OCI N.V. signed a partnership with NortH2 to develop the first integrated large-scale green ammonia and green methanol value chain through green hydrogen supply by NortH2 to OCI N.V. plants in the Netherlands.
• In March 2022, Mitsubishi Gas Chemical Company, Inc. and JFE Engineering Corporation announced that they had succeeded in producing methanol from CO? recovered from waste incineration exhaust gas using the carbon capture and utilization (CCU) process. The pilot plant was set up at Mitsubishi Gas Chemical Niigata Research Laboratory, and the companies have announced that they will continue to collaborate to create a decarbonized society.
• In February 2022, Carbon Recycling International installed the largest CO2-to-methanol reactor in CRI’s Anyang project, Henan province, China. The installed reactor is designed on Carbon Recycling International’s emissions-to-liquid (ETL) process technology.
• In September 2021, A.P. Moller - Maersk invested in California-based WasteFuel to develop green bio-methanol in North America and Asia. Maersk’s investment will be used by WasteFuel for developing the infrastructure for bio-refineries, which will enable the company to utilize the most effective technologies available to produce sustainable fuels from unrecoverable waste.

Demand – Drivers and Limitations

Following are the demand drivers for the green methanol market:
• Rising Use of Green Methanol in the Chemical Industry
• Government Activities toward Low-carbon Infrastructure
• Increasing Demand for Green Methanol in Renewable Energy Storage

The market is expected to face some limitations as well due to the following challenges:
• Limited Availability of Renewable Feedstock Sources for Bio-Methanol
• High Cost of e-Methanol Production

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types of green methanol produced and their potential globally. Moreover, the study provides the reader with a detailed understanding of the green methanol market by end-use industry (transportation/mobility, chemical industry, power generation, and other end-use industry), by application (fuel, chemical feedstock, other application), and by methanol type (bio-methanol and e-methanol).

Growth/Marketing Strategy: The green methanol market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint ventures.The favored strategy for the companies has been partnerships and joint ventures to strengthen their position in the green methanol market.

For instance, in September 2022, Winterthur Gas & Diesel (WinGD) and HSD Engine (HSD) announced that the companies would partner to develop an engine capable of running on green methanol by 2024.

Competitive Strategy: Key players in the green methanol market analyzed and profiled in the study involve major green methanol producers.Moreover, a detailed competitive benchmarking of the players operating in the green methanol market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.

Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Green Methanol Market, Revenue Share (by Methanol Type), 2021

Bio-methanol is the largest segment in the market, accounting for around 98.27% market share in 2021, while e-methanol contributed around 1.73% share.

Some prominent names established in this market are:
Company Type 1: Bio-Methanol Producers
• BASF SE
• Carbon Recycling International (CRI)
• OCI N.V.
• A.P. Moller – Maersk
• Södra
• Enerkem
• GIDARA Energy
• Nordic Green ApS
• WasteFuel
• Glocal Green

Company Type 2: e-Methanol Producers
• OCI N.V.
• A.P. Moller – Maersk
• Methanex Corporation
• Mitsubishi Gas Chemical Company, Inc. (MCG)
• European Energy
• Carbon Recycling International (CRI)
• Eni S.p.A.
• Liquid Wind AB
• Synhelion SA
• HIF Global
• ABEL Energy Pty Ltd.
• Southern Green Gas Limited

Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable).

Countries Covered
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• Denmark
• Netherlands
• Sweden
• Rest-of-Europe
• U.K.
• China
• Asia-Pacific and Japan
• Japan
• South Korea
• India
• Australia
• Rest-of-Asia-Pacific and Japan
• Rest-of-the-World
• Middle East and Africa
• South America

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected]ker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Technological Advancements Enabling Saltwater Electrolysis for Hydrogen Production

  • $ 4950
  • December 2022
  • 43 pages

Water electrolysis using electrolyzers powered by renewable energy produces green hydrogen, considered the most sustainable hydrogen type. Conventional electrolyzers require high water purity for hydrogen ...

  • World
  • Renewable Energy
  • Green Hydrogen
  • Industry analysis
  • Hydrogen Production

ref:plp2022

Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on