According to a new report published by UnivDatos Markets Insights, the Green Methanol Market was valued at USD 120 million in 2020 and is expected to grow at a CAGR of around 39% from 2022-2028. The analysis has been segmented into Feedstock (Agricultural Waste, Forestry Residues, Municipal Solid Waste, Co2 Emission, And Others); Application (Formaldehyde, Methyl-Tert-Butyl-Ether, Gasoline, Solvent, and Others); End-User (Chemical, Transportation, Power Generation, and Others); Region/Country.
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The green methanol market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the green methanol market. The green methanol market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the green methanol market at the global and regional levels.
Market Overview
Green methanol is a low-carbon fuel that can be made from either biomass gasification or renewable electricity and captured carbon dioxide. Also, it is utilized as a fuel for transportation or as a sustainable energy storage medium for power produced by renewable sources. The need for alternative energy sources and fuels is growing due to the ongoing climate crisis, and green methanol is becoming increasingly popular due to its potential to help scale up environmentally friendly methanol technology and promote a sustainable future.
Factors such as growing demand for green methanol from the shipping industry as a clean and sustainable fuel source, increasing adoption, and product launches in the market are some of the prominent factors that are positively influencing the market growth globally.
Some of the major players operating in the market include BASF SE, Enerkem, Methanex Corporation, Carbon Recycling International, Southern Green Gas, OCI N.V., A.P. Møller – Mærsk A/S, Nordic Green Aps, Södra Skogsägarna, and Advanced Chemical Technologies Inc.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted industries and has transformed the way industries are delivered. The green methanol market has been significantly affected during these times owing to the delay in the supply chain during the pandemic.
The global green methanol market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on feedstock, the market is segmented into agricultural waste, forestry residues, municipal solid waste, CO2 emission, and others. The CO2 emission category is to witness higher CAGR during the forecast period because it is simpler and more readily available than with other feedstocks. Additionally, it helps industries in profit-making and adhering to environmental rules on the decrease of carbon dioxide emissions. Furthermore, the initiatives taken by the government are aiding the growth of the CO2 emission market. For instance, 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. Where European Energy use this CO2 to produce e-methanol for A.P. Moller – Maersk as part of their previously signed agreement in March 2022.
· On the basis of application, the market is categorized into formaldehyde, methyl-tert-butyl-ether, gasoline, solvent, and others. Among these, formaldehyde to hold a significant share of the market in 2020. This is mainly due to the advantages formaldehyde offers as compared to its counterparts. Formaldehyde has been witnessing higher adoption as most glues for plywood, chipboard, or particleboard, furniture production, and the building industry are made with formaldehyde-based resins. In addition, the demand for formaldehyde is rising as the building sector expands in both developed and emerging nations which is driving the growth of the market
· Based on end-user, the green methanol market has been classified into chemical, transportation, power generation, and others. The transportation category is to witness the highest adoption of green methanol during the forecast period. This is mainly due to the rising emphasis on the decarbonization of the marine industry. Additionally, it is also used as a fuel for vehicles and as a means of storing renewable energy. It is projected that the demand for green methanol from the transportation sector will increase because of the rising price and decreasing supply of conventional fuels like gasoline and diesel during the forecasted period
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Green Methanol Market Geographical Segmentation Includes:
· North America (U.S, Canada, and Rest of North America)
· Europe (Germany, U.K, France, Italy, Spain, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly because green methanol is in higher demand in developing economies like China, India, Japan, and South Korea because of the rapidly expanding methanol consumption by the construction, automotive, and chemical industries. In addition, the government taking initiatives to increase the use of renewable fuel sources is driving the demand in the market. Furthermore, various market players across the globe are investing in green methanol R&D for the use of various end-user industries. For instance, Geely Holding Group and Jilin Zixin Pharmaceutical Co. Ltd are generating green methanol in their respective production facilities to support sustainable E-Fuels.
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The major players targeting the market include
· BASF SE
· Enerkem
· Methanex Corporation
· Carbon Recycling International
· Southern Green Gas
· OCI N.V.
· A.P. Møller – Mærsk A/S
· Nordic Green Aps
· Södra Skogsägarna
· Advanced Chemical Technologies Inc
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the green methanol market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the green methanol market?
• Which factors are influencing the green methanol market over the forecast period?
• What are the global challenges, threats, and risks in the green methanol market?
• Which factors are propelling and restraining the green methanol market?
• What are the demanding global regions of the green methanol market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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Table Of Content:
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 IMPACT OF COVID-19 ON THE GREEN METHANOL MARKET
6 GREEN METHANOL MARKET REVENUE, 2020-2028F
7 MARKET INSIGHTS BY FEEDSTOCK
8 MARKET INSIGHTS BY APPLICATION
9 MARKET INSIGHTS BY END-USER
10 MARKET INSIGHTS BY REGION
11 GREEN METHANOL MARKET DYNAMICS
12 GREEN METHANOL MARKET OPPORTUNITIES
13 GREEN METHANOL MARKET TRENDS
14 DEMAND AND SUPPLY-SIDE ANALYSIS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
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