The global green methanol market is anticipated to expand from USD 1.95 billion in 2024 to USD 11.18 billion by 2030, registering a CAGR of 33.8% from 2024 to 2030. Growing demand for sustainable fuels & feedstocks and stringent emissions regulations are fueling the growth of the green methanol market. The Research report presents a complete judgment of the market which consists of green methanol market growth factors, future trends, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data.
Based on feedstock, the green hydrogen is the fastest-growing feedstock segment for green methanol due to its potential to significantly cut carbon emissions. Produced using renewable energy sources like wind and solar, it offers a cleaner alternative to conventional hydrogen. Technological advancements are reducing electrolyzer costs, making green hydrogen more affordable. Government incentives and renewable energy policies are accelerating its adoption. Its versatility and easy integration into existing industrial processes also make it a preferred choice. As a result, green hydrogen is driving the growth of the green methanol market by providing a sustainable and cost-effective feedstock.
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Based on application, the fuel segment is is expected to dominate the market during the forecast period. The use of green methanol as fuel is growing quickly because industries need cleaner energy options and governments are making stricter rules to protect the environment. Green methanol produces fewer emissions and can be used in shipping, transportation (mixed with gasoline or directly in engines), and generating power. It’s popular because it works well with current infrastructure and helps industries lower their carbon footprint.
Based on region, North America is poised to emerge as the fastest-growing market in the green methanol sector. This growth is propelled by rigorous environmental regulations, substantial investments in renewable energy infrastructure, and strong government support through incentives and policies. The region’s commitment to sustainability, combined with the involvement of key industry leaders and continuous technological advancements, significantly boosts the demand for green methanol across diverse applications.
Companies such as OCI N.V. (Netherlands), Carbon Recycling International Inc. (Iceland), Methanex Corporation (Canada), Proman (Switzerland) and Södra (Sweden) fall under the winners’ category. These are leading players in the Green Methanol market globally. These players have adopted the strategies of acquisitions, expansions, partnerships, and investments to increase their market shares.
OCI
OCI is one of the leading global producers and distributors of nitrogen products, providing sustainable solutions for agricultural and industrial customers around the world. It operates through the nitrogen, and methanol business segments. Operating across four continents, the company produces approximately 16.1 million metric tons per year of nitrogen fertilizers, methanol, diesel exhaust fluid, melamine, and other nitrogen products.
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Carbon Recycling International Inc.
Carbon Recycling International Inc. stands out as a global leader in converting carbon dioxide into methanol. Their production capacity surpasses 200,000 tonnes of sustainable methanol per year. This achievement makes them the world’s first company to achieve commercial-scale production of methanol from carbon dioxide, a significant milestone in tackling climate change. Their innovative technology offers a game-changing solution by transforming carbon dioxide into a valuable resource, promoting sustainability.
The commercially successful projects of the company are reducing carbon emissions worldwide. This contributes to the rapidly growing market for renewable methanol, projected to reach a staggering 400 million tonnes annually by 2050. The company is not only pioneering CO2 conversion technology, but also actively enabling the development of an entirely new sustainable fuel industry.
Methanex Corporation
Methanex Corporation produces methanol, which is used in the manufacturing of a range of consumer and industrial products, such as building materials, paints, foams, resins, clothing and textiles, pharmaceutical products, and medical equipment. Its wholly-owned subsidiary, Waterfront Shipping Co. Ltd., operates the methanol ocean tanker fleet. The company supplies methanol to petrochemical producers and distributors through its marketing offices in North America (Vancouver and Dallas), Europe (Brussels), Asia Pacific (Hong Kong, Shanghai, Tokyo, Beijing, and Seoul), Latin America (Santiago), and the Middle East (Dubai, UAE).
Methanex Corporation’s operations consist of a single operating segment for the production and sale of methanol. Since 2020, its site at Geismar, US, and its offices in Dallas and Brussels have been certified with the International Sustainability & Carbon Certification (ISCC) to produce and sell bioethanol. It has a vast geographical presence across Asia, Europe, South America, and North America.
Proman
Proman is a leading producer of methanol and is committed to developing sustainable methanol and ammonia as cleaner alternatives to fossil fuels. The company is actively involved in the production and transportation of methanol. Proman was formed by the merging of two companies, IPSL and Proman AG (Trinidad and Tobago).
Proman’s product portfolio consists of various products, such as methanol, ammonia, melamine, UAN solutions, and more. It has a vast global presence in countries across Europe, the Middle East & Africa, and North America.
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Södra
Södra began producing bio-methanol at its Mönsterås pulp mill, marking a significant step toward a more sustainable future. Its bio-methanol sales demonstrate a resource-efficient approach, extracting more value from the raw materials used in its processes.
Södra has pioneered commercial scale biomethanol production from forest biomass at its Mönsterås facility, producing 6.3 million liters annually. The sustainable process reduces emissions and is ISCC certified. Partnering with ANDRITZ, Södra overcame technical challenges and plans to expand its commercial applications. It has vast geographical presence in Europe, North America, Asia Pacific and South America.
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