Selbyville, Delaware, Oct. 15, 2024 (GLOBE NEWSWIRE) — Green Methanol Market was valued at USD 1.7 billion in 2023 and is projected to be worth USD 18.1 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The growing demand for sustainable fuels will significantly drive the size of the market as consumers and industries increasingly seek cleaner energy alternatives to reduce their carbon footprints. This shift is complemented by advancements in production technologies, such as carbon capture and utilization, which enhance the efficiency and cost-effectiveness of green methanol production. As these technologies evolve, they enable larger-scale production and wider application of green methanol in sectors like transportation and power generation, further accelerating market growth.
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The overall green methanol market is fragmented based on feedstock, type, application, and region.
The bio methanol segment was valued at USD 924.9 million in 2023 and will garner a 10.1 billion by 2032, spurred by its sustainable production methods and renewable feedstock sources. Derived from biomass, bio methanol provides a circular solution to energy needs by utilizing organic materials such as agricultural waste and wood residues. This segment is gaining traction as industries seek alternatives to fossil fuels and aim to reduce their carbon emissions. As the emphasis on renewable energy grows, the bio methanol segment will substantially contribute to the overall expansion of the green methanol industry.
Green methanol market size from CO2 emissions segment accumulated USD 603.52 million in 2023 and will achieve 6.4 billion by 2032, primarily driven by increasing regulatory pressures and initiatives aimed at reducing carbon footprints. As governments and industries focus on decarbonization, capturing and utilizing CO2 emissions for green methanol production becomes a viable solution to mitigate environmental impacts. This process not only contributes to greenhouse gas reduction but also promotes sustainable energy practices. As the demand for low-carbon fuels continues to grow, the CO2 emissions segment will play a pivotal role in driving market expansion.
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Asia Pacific green methanol market held USD 638.4 million in 2023 and will grow to 6.6 billion by 2032 due to its rapid industrial growth and increasing focus on sustainable energy solutions. The region is home to major economies that are investing heavily in renewable energy technologies and low-carbon alternatives. Additionally, supportive government policies and initiatives aimed at reducing carbon emissions further promote the adoption of green methanol. As industries transition towards more environmentally friendly practices, Asia Pacific’s strong market presence will be a key contributor to the overall growth of the green methanol industry.
Green Methanol Market Players
Companies including Methanex Corporation, OCI Company Ltd., Carbon Clean Solutions, Nordic Green, Haldor Topsoe, Climeworks, BASF SE, Enerkem, BioMCN, Veolia are some firms working in green methanol industry.
The green methanol market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Billion) (Kilo Tons) from 2021 to 2032, for the following segments:
Market, By Feedstock
- CO2 Emissions
- Municipal Solid Waste
- Agricultural Waste
- Forestry Residues
- Others
Market, By Type
- E-Methanol
- Bio Methanol
Market, By Application
- Fuel Grade
- Chemical Feedstock
- Others
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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