BIS Research: Green Methanol Market to Skyrocket to $3.15 Billion by 2031

The global green methanol market is on a rapid growth trajectory, projected to soar from $122.35 million in 2021 to a staggering $3,149.05 million by 2031, driven by a remarkable CAGR of 39.63%. Green methanol, produced from renewable sources like biomass, biogas, municipal waste, CO2, and green hydrogen, is becoming a key player in sustainable energy. Known as bio-methanol when derived from biomass and e-methanol when produced from CO2 and renewable electricity, this eco-friendly fuel is gaining significant traction, particularly in the maritime industry. 

Early pioneers such as CRI, OCI N.V., and Chemrec AB have led the charge in green methanol production. Carbon Recycling International (CRI) was the first to achieve commercial-scale e-methanol production in 2012 with its Vulcanol brand, while OCI N.V. launched bio-methanol production in 2010. The industry's rapid expansion is fueled by the maritime sector's need for cleaner fuel alternatives and increasing government support for biofuels. 

Despite facing challenges due to COVID-19 disruptions, including delayed manufacturing and supply chain issues, the industry continues to push forward. Companies are securing long-term contracts to ensure a steady supply of green methanol. The future of the market is bright, with rising global demand and maritime industry innovations driving growth. 

As the world shifts toward greener energy solutions, green methanol is set to play a crucial role in reducing carbon emissions and transforming the global fuel landscape. 

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Green Methanol Market Analysis: Drivers, Challenges, and Opportunities 

Following are the 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 

Following are the Limitations of Green Methanol Market: 

•    Limited Availability of Renewable Feedstock Sources for Bio-Methanol 

•    High Cost of e-Methanol Production 

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Green Methanol Market Segments:  

Segmentation 1: by End-Use Industry 

•    Transportation/Mobility 

•    Chemical Industry 

•    Power Generation 

•    Other End-Use Industry 

Segmentation 2: by Application 

•    Fuel 

•    Chemical Feedstock 

•    Other Application 

Segmentation 3: by Methanol Type 

•    Bio-Methanol 

•    E-Methanol 

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   

The global green methanol market is poised for substantial growth, driven by its role in reducing carbon emissions and promoting sustainable energy solutions. With projections of increasing demand, particularly in the maritime sector, the market is expected to rise from $122.35 million in 2021 to $3,149.05 million by 2031 at a 39.63% CAGR. Early leaders like CRI, OCI N.V., and Chemrec AB are advancing production technologies, while challenges, such as high production costs and limited renewable feedstock, remain. However, government initiatives and the growing focus on renewable energy are expected to propel the market forward. 

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Key Players in Green Methanol Market  

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  

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Other Related Reports from BIS Research 

E-Waste Management Market 

Low-Carbon Flooring Market 

Europe Green Hydrogen Market 

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BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.   

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