Green Methanol Market Size Worth USD 16,870.7 Million by 2032 | CAGR: 31.8%

The global green methanol market size is expected to reach USD 16,870.7 million by 2032, according to a new study by Polaris Market Research. The report “Green Methanol Market Size, Share, Trends, Industry Analysis Report: By Feedstock (Biomass, Carbon Capture & Storage, and Green Hydrogen), Derivatives, Application, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The green methanol market is driven by technological advancements to improve the efficiency and cost-effectiveness of production processes. Innovations in areas such as catalysis, renewable energy integration, and carbon capture technology have made green methanol production more viable and scalable. For instance, in October 2023, KBR launched PureM, an innovative green methanol technology, to support its existing clean hydrogen and ammonia technologies. Thus, these types of technological improvements make green methanol a more competitive and attractive option compared to traditional fuels, thereby accelerating its market adoption.

Government incentives and subsidies play an important role in promoting the growth of the green methanol market by reducing the financial barriers associated with its production and use. Many governments offer financial support, such as grants, tax credits, and low-interest loans, to encourage the development and deployment of green methanol technologies. These incentives lower the upfront costs for companies investing in green methanol infrastructure and technology, making it a more economically feasible option. As a result, government measures are fostering innovation and contributing to the growth of the green methanol market.

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Increasing investment in infrastructure is a key driver of the green methanol market as it enhances the production capacity and distribution network for green methanol. Investments are being made in building and upgrading production facilities, storage tanks, and distribution systems to accommodate the growing demand for green methanol. For instance, in March 2023, Umwelt Energy, a Danish company, announced plans to invest USD 850 million in Tamil Nadu, India, to construct a green methanol plant. The facility will have the capacity to produce 1 lakh tonnes per year of green methanol. Such infrastructure development is essential for scaling up production and ensuring that green methanol is effectively distributed and utilized across various industries, thereby fuelling the green methanol market growth.

Green Methanol Market Report Highlights

• The biomass segment held the largest revenue share in the green methanol market in 2023 due to its easy availability and large-scale production.
• The fuel segment of the green methanol market is anticipated to experience substantial growth, driven by the adoption of green methanol as a fuel in the shipping industry. The growth is further supported by initiatives taken by companies operating in the marine sector.
• Asia Pacific green methanol market dominated in terms of revenue, driven by the expansion of infrastructure to bolster green methanol production capacity. Chemical companies in the region are partnering with shipping firms to establish manufacturing facilities.
• North American green methanol market is expected to grow substantially over the forecast period due to government efforts to reduce marine carbon dioxide emissions.
• The global key market players are ABEL Energy Pty Ltd; Avaada; Carbon Recycling International (CRI); Enerkem; Methanex Corporation; MITSUBISHI GAS CHEMICAL COMPANY, INC.; OCI; Proman; SunGas Renewables; thyssenkrupp Uhde GmbH; and WASTEFUEL.

Polaris Market Research has segmented the green methanol market report based on feedstock, derivatives, application, and region:

By Feedstock Outlook (Revenue - USD million, Volume - Kilotons, 2019 - 2032)

• Biomass
• Carbon Capture & Storage
• Green Hydrogen

By Derivatives Outlook (Revenue - USD million, Volume - Kilotons, 2019 - 2032)

• Acetic Acid
• Biodiesel
• Dimethyl Ether
• Formaldehyde
• Gasoline
• Methanol-To-Olefins & Methanol-To-Propylene
• Methyl Methacrylate
• Methyl Tertiary Butyl Ether
• Others

By Application Outlook (Revenue - USD million, Volume - Kilotons, 2019 - 2032)

• Chemical Feedstock
• Fuel
• Others

By Regional Outlook (Revenue - USD million, Volume - Kilotons, 2019 - 2032)

• North America

• US
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of APAC

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of MEA

Green Methanol Report Scope