Methanol (CH3 OH) is a liquid chemical found in a wide range of items such as plastics, paints, cosmetics, and fuels. Green methanol, also known as bio-methanol, is a low-carbon chemical made from renewable biomass or carbon dioxide and hydrogen produced by renewable electricity.
Green methanol fuel reduces greenhouse gas emissions significantly. This involves cutting carbon dioxide (CO2) emissions by up to 95%, nitrogen oxide (NOx) emissions by up to 80%, and sulfur oxide (SOx) and particulate matter (PM) emissions entirely. To combat climate change and improve public health through improved air quality, emissions must be reduced.
green methanol market size reached USD 3.71 Billion in 2021 and is expected to register a revenue CAGR of 6.0% during the forecast period, Market Size – of USD 3.71 Billion in 2021, Market Growth – at a CAGR of 6.0%, Market trend – Increasing demand for renewable methanol as a better motor fuel for vehicles
The global green methanol industry is growing due to rising carbon dioxide emissions and tight environmental regulations aimed at reducing carbon dioxide’s impact. This factor is predicted to increase demand for green methanol, which will be used in transportation and industry. Furthermore, in the next years, the conversion of agricultural and industrial wastes into renewable methanol is likely to provide prospective growth possibilities for the market. Biomass is the principal source of renewable methanol production. As a result of its use in various solvents and chemical feedstock, the market is likely to generate lucrative growth prospects.
Some major market players analyzed in the global green methanol market include Advanced Chemical Technologies, BASF SE, Uniper SE, Fraunhofer GmbH, Enerkem Inc., Innogy SE, Nordic Green ApS, Vertimass LLC, Saudi Basic Industries Corporation, and Södra Skogsägarna.
In April 2022, Landsvirkjun, an Icelandic energy business, and PCC SE, a German investment firm, have agreed to jointly investigate the possibilities of capturing and utilizing carbon emissions for the production of green methanol for ships. The firms propose to investigate carbon capture and utilization at PCC’s silicon metal factory in northeast Iceland. The emissions may then be converted into green methanol, which could be used in ships and industry to replace fossil fuels.
Green methanol has recently gotten a lot of attention from the industry as a promising alternative to fossil fuels with the potential to help decarbonize ships. However, there is a lack of industrial setup in the green methanol industry and this can act as a restraining factor for market growth.
Emergen Research has segmented the global green methanol market based on feedstock, application, end-use, and region:
- Feedstock Outlook (Revenue, USD Billion; 2019-2030)
- Agricultural Waste
- Forestry Residues
- Municipal Solid Waste
- Application Outlook (Revenue, USD Billion; 2019-2030)
- End-use Outlook (Revenue, USD Billion; 2019-2030)
- Power generation
Detailed Regional Analysis covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
To get leading market solutions, Visit the Link