The global green methanol market size was valued at USD 350.9 million in 2023 and is expected to grow from USD 526.2 million in 2024 to USD 16,021.8 million by 2032 at a CAGR of 53.3% during the forecast period. Renewable methanol can lead to the expansion of methanol usage as a fuel and chemical raw material and aid transport and industrial sectors in their movement toward net carbon neutrality goals. Even 100% carbon-free products can be produced by deploying different sustainable feedstocks, including CO2, waste, hydrogen, and biomass. Thus, this promising situation has drawn the attention of companies and investors in the conventional methanol market.
Fortune Business Insights™ provides this information in its research report, titled “Green Methanol Market, 2025-2032”.
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Green Methanol Market Segmentation Analysis:
By Type:
- Biomethanol held the largest share in 2023.
- Growth is driven by its cost-effective production from accessible feedstocks such as agricultural waste, biogas, and municipal solid waste.
- It remains more economical compared to e-methanol, supporting its strong demand.
By Production Route:
- Power-to-methanol route is projected to dominate by 2025.
- It uses hydrogen (via water electrolysis) and captured CO₂, which significantly lowers carbon emissions.
- This route aligns with decarbonization goals and is supported by global capacity expansion projects.
By End Use:
- Chemical segment accounted for the largest share in 2023 and will maintain its lead.
- Methanol is widely used in producing acetic acid, formaldehyde, ethylene, and propylene.
- Growing preference for green biomethanol will further boost demand in this segment.
Report Coverage:
- Covers strategic initiatives by leading players to stay competitive.
- Provides insights into key drivers, restraints, and market trends.
- Includes analysis of COVID-19 impact and major industry developments.
Drivers and Restraints:
What is driving the growth of the green methanol market?
Government initiatives to blend methanol with gasoline are supporting low-carbon fuel adoption. Countries like New Zealand, Italy, India, and Egypt are actively testing methanol blends to reduce emissions without affecting vehicle performance.
What is the major challenge for the market?
High production costs of green methanol remain a key restraint, potentially limiting adoption in cost-sensitive markets.
Regional Insights:
Which region is expected to lead the market?
Asia Pacific is projected to become the largest consumer by 2025, mainly due to significant capacity expansions in China.
Which region is currently the largest consumer?
North America currently leads global consumption, supported by strong demand and the presence of major biomethanol manufacturers.
List of the Key Players in the Green Methanol Market:
- Alberta-Pacific Forest Industries Inc (Canada)
- ANDRITZ (Austria)
- Avaada Group (India)
- Cepsa (Spain)
- Enerkem (Canada)
- Mitsui & Co., Ltd. (Japan)
- OCI Global (Netherlands)
- SunGas Renewables (U.S.)
- Thyssenkrupp Uhde GmbH (Germany)
- Veolia (France)
Key Industry Development:
- January 2024 – BASF announced a new collaboration with Envision Energy, a green technology provider. Both companies collaborated to develop an advanced and dynamic process design to convert green hydrogen and carbon dioxide into e-methanol.
- December 2023 – Perpetual Next Company announced the development of the second biomethanol production plant in Estonia. The plant, which will have a production capacity of 220 kilotons, is estimated to come into operation by 2027.
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