Green Methanol Market - A Global and Regional Analysis

Focus on End-Use Industry, Application, Methanol Type, and Region - Analysis and Forecast, 2022-2031

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A quick peek into the report

Market Report Coverage

Green Methanol Market
Forecast Period: 2022-2031
CAGR During Forecast Period: 39.63%

Green Methanol Market

Base Year

2021

Market Size in 2021

$122.35 Million

Forecast Period

2022-2031

Value Projection and Estimation by 2031

$3,149.05 Million

CAGR During Forecast Period

39.63%

Number of Tables

158

Number of Pages

239

Number of Figures

23

 

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Green Methanol Market, Revenue Share (by Methanol Type), 2021

Bio-methanol is the largest segment in the market, accounting for around 98.27% market share in 2021, while e-methanol contributed around 1.73% share.

Green Methanol Market

Some prominent names established in this market are:

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

Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable).

How can this report add value to an organization?

The study provides the reader with a detailed understanding of the green methanol market by end-use industry, by application, and

Product/Innovation Strategy: The product segment helps the reader understand the different types of green methanol produced and their potential globally. Moreover, the study provides the reader with a detailed understanding of the green methanol market by end-use industry (transportation/mobility, chemical industry, power generation, and other end-use industry), by application (fuel, chemical feedstock, other application), and by methanol type (bio-methanol and e-methanol).

Growth/Marketing Strategy: The green methanol market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint ventures. The favored strategy for the companies has been partnerships and joint ventures to strengthen their position in the green methanol market. For instance, in September 2022, Winterthur Gas & Diesel (WinGD) and HSD Engine (HSD) announced that the companies would partner to develop an engine capable of running on green methanol by 2024.

Competitive Strategy: Key players in the green methanol market analyzed and profiled in the study involve major green methanol producers. Moreover, a detailed competitive benchmarking of the players operating in the green methanol market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry and Technology Overview

The global green methanol market is projected to reach $3,149.05 million by 2031 from $122.35 million in 2021.

Green Methanol Market Industry Overview

The global green methanol market is projected to reach $3,149.05 million by 2031 from $122.35 million in 2021, growing at a CAGR of 39.63% during the forecast period 2022-2031.

Green methanol or renewable methanol is produced from a variety of sources such as biomasses, including forestry and agricultural waste, byproducts, biogas, sewage, municipal solid waste (MSW), black liquor from the pulp and paper industry, carbon dioxide, and green hydrogen produced with renewable electricity. Methanol produced from biomass is called bio-methanol, and the one produced from CO2, green hydrogen, and renewable electricity is known as e-methanol.

Market Lifecycle Stage

Green methanol has been around for years now, with companies such as CRI, OCI N.V., and Chemrec AB being some of the earliest players in the market. Carbon Recycling International (CRI) set up a first-of-its-kind e-methanol demonstration plant in 2010-11 in Iceland and became the first company to start commercial production of e-methanol in 2012 under the brand name Vulcanol. OCI N.V.’s subsidiary BioMCN was the first company to enter bio-methanol production, with the first project starting in 2010 in the Netherlands with a capacity of 200 KT/year.

Since then, the market has grown significantly, with demand increasing every day owing to strict carbon-emission regulations in the maritime industry and growing emphasis on biofuels from the governments. The maritime industry, biofuels, and support from the government are expected to further drive the growth of the market during the forecast period.

Figure: Green Methanol Market, $Million, 2021, 2022, and 2031

Green Methanol Market

Industrial Impact

The growth of the green methanol market is closely tied to the growing demand for green methanol from the maritime industry as a clean and sustainable fuel source. Growing demand for green methanol from the maritime industry has led to a growing number of project announcements for green methanol around the globe. Additionally, a growing number of maritime shipping and logistic companies have announced the decision to include methanol-powered ships in their portfolio. For instance, in September 2022, the chairmen of China Merchants and COSCO Shipping Bulk announced that methanol as a primary source of fuel for their ships would be at the forefront of their research in the future.

Impact of COVID-19

The outbreak of COVID-19 has caused several delays in manufacturing operations, which have resulted in the slowdown of the green methanol market. Also, supply chain disruptions have negatively impacted the green methanol market. Currently, companies are trying to secure long-term supply contracts with other suppliers to maintain smooth operations and an uninterrupted supply of green methanol to consumers.

Market Segmentation:

Segmentation 1: by End-Use Industry
•    Transportation/Mobility
•    Chemical Industry
•    Power Generation
•    Other End-Use Industry

The transportation/mobility segment is the largest end-use industry and is expected to dominate the market during the forecast period 2022-2031. The transportation/mobility segment is witnessing the growing adoption of green methanol due to the rising emphasis on the decarbonization of the marine industry.

Segmentation 2: by Application
•    Fuel
•    Chemical Feedstock
•    Other Application

The fuel segment is the largest application segment and is expected to dominate the market during the forecast period 2022-2031. Green methanol is being used as a fuel, primarily in the maritime industry, owing to strict regulations and growing emphasis on the decarbonization of the maritime industry. The International Maritime Organization (IMO) has set an ambitious target of reducing international shipping carbon emissions per transport work by at least 40% by 2030 and by 70% by 2050, from 2008 levels. This is expected to be one of the major drivers of the growing application of green methanol as fuel in the maritime industry.

Segmentation 3: by Methanol Type
•    Bio-Methanol
•    E-Methanol

The bio-methanol segment is the largest in methanol type and is expected to dominate the market during the forecast period 2022-2031. Bio-methanol is produced from biological feedstock such as forest residue, municipal solid waste (MSW), biogas, and biomass. Bio-methanol production has been around for decades and does not require large investments, unlike e-methanol production, which requires large investments to set up green hydrogen and carbon capture plants.

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 

Europe dominates the green methanol market due to the presence of several leading companies, such as Carbon Recycling International (CRI), European Energy, and Liquid Wind AB, in the region. A highly developed renewable energy market and growing investment from shipping companies such as Auramarine and A.P. Moller – Maersk are also contributing to the dominant share of Europe in the market.

Recent Developments in the Green Methanol Market

•    In September 2022, Sanlorenzo – an Italian yacht builder, and Rolls-Royce announced their plans to develop and build a large luxury yacht equipped with a methanol-powered engine propulsion system that would be running on carbon-neutral green methanol. The first yacht built under this partnership will be equipped with two MTU (a core brand of Rolls-Royce) methanol engines from Rolls-Royce and is expected to set sail in 2026.
•    In August 2022, European Energy signed an agreement with Anaergia for the supply of up to 60,000 metric tons per year of liquefied biogenic carbon dioxide (CO2) for a period of the next ten years. European Energy will use this CO2 to produce e-methanol for A.P. Moller – Maersk as part of their previously signed agreement in March 2022.
•    In March 2022, OCI N.V. signed a partnership with NortH2 to develop the first integrated large-scale green ammonia and green methanol value chain through green hydrogen supply by NortH2 to OCI N.V. plants in the Netherlands.
•    In March 2022, Mitsubishi Gas Chemical Company, Inc. and JFE Engineering Corporation announced that they had succeeded in producing methanol from CO? recovered from waste incineration exhaust gas using the carbon capture and utilization (CCU) process. The pilot plant was set up at Mitsubishi Gas Chemical Niigata Research Laboratory, and the companies have announced that they will continue to collaborate to create a decarbonized society.
•    In February 2022, Carbon Recycling International installed the largest CO2-to-methanol reactor in CRI's Anyang project, Henan province, China. The installed reactor is designed on Carbon Recycling International’s emissions-to-liquid (ETL) process technology.
•    In September 2021, A.P. Moller - Maersk invested in California-based WasteFuel to develop green bio-methanol in North America and Asia. Maersk’s investment will be used by WasteFuel for developing the infrastructure for bio-refineries, which will enable the company to utilize the most effective technologies available to produce sustainable fuels from unrecoverable waste.

Demand – Drivers and Limitations

Following are the demand 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

The market is expected to face some limitations as well due to the following challenges:

•    Limited Availability of Renewable Feedstock Sources for Bio-Methanol
•    High Cost of e-Methanol Production

Analyst’s Thoughts

According to Sachin Singh, Lead Analyst, BIS Research, "The green methanol market is expected to register continuous growth during the forecast period owing to the growing demand for sustainable energy sources, rising green methanol demand from the maritime industry, and investment from the government toward green and sustainable technologies. Moreover, growing investment in renewable energy sources and demand for energy storage technologies are also expected to contribute toward the growth of the green methanol market during the forecast period.”

Table of Contents

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1.1    Industry Outlook
         1.1.1    Trends: Current and Future
                     1.1.1.1    Growing Carbon Capture Technology
                     1.1.1.2    Green Methanol Energy as Sustainable Replacement of Fossil Fuels
                     1.1.1.3    Sustainable Green Methanol Technology
         1.1.2    Supply Chain Network
         1.1.3    Ecosystem/Ongoing Programs
                     1.1.3.1    Consortiums and Associations
                     1.1.3.2    Regulatory Bodies
                     1.1.3.3    Government Programs
                     1.1.3.4    Programs by Research Institutes and Universities
1.2    Summary of Biofuel Policies in Various Countries and their Effectiveness on the Green Methanol Market
         1.2.1    Australia
         1.2.2    Austria
         1.2.3    Brazil
         1.2.4    Canada
         1.2.5    Denmark
         1.2.6    Germany
         1.2.7    India
         1.2.8    Japan
         1.2.9    Netherlands
         1.2.10    South Korea
         1.2.11    Sweden
         1.2.12    U.S.
1.3    Business Dynamics
         1.3.1    Business Drivers
                     1.3.1.1    Rising Use of Green Methanol in the Chemical Industry
                     1.3.1.2    Government Activities toward Low-carbon Infrastructure
                     1.3.1.3    Increasing Demand for Green Methanol in Renewable Energy Storage
         1.3.2    Business Challenges
                     1.3.2.1    Limited Availability of Renewable Feedstock Sources for Bio-Methanol
                     1.3.2.2    High Cost of e-Methanol Production
         1.3.3    Business Opportunities
                     1.3.3.1    Growing Investment in Methanol Fuel Cells
                     1.3.3.2    Decreasing Cost of Renewable Energy and Green Methanol Synthesis
1.4    Startup Landscape
         1.4.1    Key Startups
         1.4.2    Funding Analysis
                     1.4.2.1    Major Investors
                     1.4.2.2    New Products/Offerings
1.5    Impact of the COVID-19 on the Green Methanol Market
1.6    Snapshot of the Water Electrolysis Market
         1.6.1    Leading Countries in the Water Electrolysis Market
         1.6.2    Leading Companies in the Water Electrolysis Market
         1.6.3    Water Electrolysis Market Projection
1.7    Snapshot of the Green Ammonia Market
         1.7.1    Leading Countries in the Green Ammonia Market
         1.7.2    Leading Companies in the Green Ammonia Market
         1.7.3    Green Ammonia Market Projection
1.8    Snapshot of the Carbon Capture Utilization and Storage (CCUS) Market
         1.8.1    Leading Countries in the Carbon Capture Utilization and Storage (CCUS) Market
         1.8.2    Leading Companies in the Carbon Capture Utilization and Storage (CCUS) Market
         1.8.3    Carbon Capture Utilization and Storage (CCUS) Market Projection

2.1    Green Methanol Market – Application and Specification
         2.1.1    Fuel
         2.1.1    Chemical Feedstock
                     2.1.1.1    Methanol-to-Olefins (MTO)
                     2.1.1.2    Formaldehyde
                     2.1.1.3    Methyl Tert-Butyl Ether (MTBE)
                     2.1.1.4    Dimethyl Ether (DME)
        2.1.2    Other Application
                     2.1.2.1    Acetic acid
                     2.1.2.2    Antifreeze
                     2.1.2.3    Solvent
2.2    Demand Analysis of the Green Methanol Market (by Application), Value and Volume, 2021-2031
2.3    Green Methanol Market – End-Use Industry and Specification
         2.3.1    Transportation/Mobility
                     2.3.1.1    Methanol Powered Vehicles in Marine Industry
         2.3.2    Chemical Industry
         2.3.3    Power Generation
         2.3.4    Other End-Use Industry
                     2.3.4.1    Construction
                     2.3.4.2    Electronics Industry
                     2.3.4.3    Paints Industry
2.4    Demand Analysis of the Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031

3.1    Green Methanol Market – Product and Specifications
         3.1.1    Bio-Methanol
                     3.1.1.1    Forestry and Agricultural Waste
                     3.1.1.2    Biogas/Biomass
                     3.1.1.3    Municipal Solid Waste (MSW)
                     3.1.1.4    Others (Sewage and by-products)
                                    3.1.1.4.1    Sewage
                                    3.1.1.4.2    By-Products
         3.1.2    e-Methanol
3.2    Demand Analysis of the Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
3.3    Product Benchmarking: Growth Rate – Market Share Matrix, 2021
3.4    Patent Analysis
3.5    Global Methanol Demand-Supply Analysis

4.1    North America
         4.1.1    Market
                     4.1.1.1    Key Manufacturers/Suppliers in North America
                     4.1.1.2    Business Drivers
                     4.1.1.3    Business Challenges
         4.1.2    Application
                     4.1.2.1    North America Green Methanol Market (by Application), Value and Volume, 2021-2031
                     4.1.2.2    North America Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
         4.1.3    Product
                     4.1.3.1    North America Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
         4.1.4    North America: Country Level Analysis
                     4.1.4.1    U.S.
                                    4.1.4.1.1    Market
                                                      4.1.4.1.1.1    Buyer Attributes
                                                      4.1.4.1.1.2    Key Manufacturers/Suppliers in the U.S.
                                                      4.1.4.1.1.3    Business Drivers
                                                      4.1.4.1.1.4    Business Challenges
                                    4.1.4.1.2    Application
                                                      4.1.4.1.2.1    U.S. Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.1.4.1.2.2    U.S. Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.1.4.1.3    Product
                                                      4.1.4.1.3.1    U.S. Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                     4.1.4.2    Canada
                                    4.1.4.2.1    Market
                                                      4.1.4.2.1.1    Buyer Attributes
                                                      4.1.4.2.1.2    Key Manufacturers/Suppliers in Canada
                                                      4.1.4.2.1.3    Business Drivers
                                                      4.1.4.2.1.4    Business Challenges
                                    4.1.4.2.2    Application
                                                      4.1.4.2.2.1    Canada Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.1.4.2.2.2    Canada Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.1.4.2.3    Product
                                                      4.1.4.2.3.1    Canada Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                     4.1.4.3    Mexico
                                    4.1.4.3.1    Market
                                                      4.1.4.3.1.1    Buyer Attributes
                                                      4.1.4.3.1.2    Key Manufacturers/Suppliers in Mexico
                                                      4.1.4.3.1.3    Business Drivers
                                                      4.1.4.3.1.4    Business Challenges
                                    4.1.4.3.2    Application
                                                      4.1.4.3.2.1    Mexico Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.1.4.3.2.2    Mexico Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.1.4.3.3    Product
                                                      4.1.4.3.3.1    Mexico Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
4.2    Europe
         4.2.1    Market
                     4.2.1.1    Key Manufacturers/Suppliers in Europe
                     4.2.1.2    Business Drivers
                     4.2.1.3    Business Challenges
         4.2.2    Application
                     4.2.2.1    Europe Green Methanol Market (by Application), Value and Volume, 2021-2031
                     4.2.2.2    Europe Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
         4.2.3    Product
                     4.2.3.1    Europe Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
         4.2.4    Europe: Country Level Analysis
                     4.2.4.1    Germany
                                    4.2.4.1.1    Market
                                                      4.2.4.1.1.1    Buyer Attributes
                                                      4.2.4.1.1.2    Key Manufacturers/Suppliers in Germany
                                                      4.2.4.1.1.3    Business Drivers
                                                      4.2.4.1.1.4    Business Challenges
                                    4.2.4.1.2    Application
                                                      4.2.4.1.2.1    Germany Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.2.4.1.2.2    Germany Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.2.4.1.3    Product
                                                      4.2.4.1.3.1    Germany Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                     4.2.4.2    Denmark
                                    4.2.4.2.1    Market
                                                      4.2.4.2.1.1    Buyer Attributes
                                                      4.2.4.2.1.2    Key Manufacturers/Suppliers in Denmark
                                                      4.2.4.2.1.3    Business Drivers
                                                      4.2.4.2.1.4    Business Challenges
                                    4.2.4.2.2    Application
                                                      4.2.4.2.2.1    Denmark Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.2.4.2.2.2    Denmark Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.2.4.2.3    Product
                                                      4.2.4.2.3.1    Denmark Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                     4.2.4.3    Netherlands
                                    4.2.4.3.1    Market
                                                      4.2.4.3.1.1    Buyer Attributes
                                                      4.2.4.3.1.2    Key Manufacturers/Suppliers in the Netherlands
                                                      4.2.4.3.1.3    Business Drivers
                                                      4.2.4.3.1.4    Business Challenges
                                    4.2.4.3.2    Application
                                                      4.2.4.3.2.1    Netherlands Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.2.4.3.2.2    Netherlands Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.2.4.3.3    Product
                                                      4.2.4.3.3.1    Netherlands Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                     4.2.4.4    Sweden
                                    4.2.4.4.1    Market
                                                      4.2.4.4.1.1    Buyer Attributes
                                                      4.2.4.4.1.2    Key Manufacturers/Suppliers in Sweden
                                                      4.2.4.4.1.3    Business Drivers
                                                      4.2.4.4.1.4    Business Challenges
                                    4.2.4.4.2    Application
                                                      4.2.4.4.2.1    Sweden Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.2.4.4.2.2    Sweden Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.2.4.4.3    Product
                                                      4.2.4.4.3.1    Sweden Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                     4.2.4.5    Rest-of-Europe
                                    4.2.4.5.1    Market
                                                      4.2.4.5.1.1    Buyer Attributes
                                                      4.2.4.5.1.2    Key Manufacturers/Suppliers in the Rest-of-Europe
                                                      4.2.4.5.1.3    Business Drivers
                                                      4.2.4.5.1.4    Business Challenges
                                    4.2.4.5.2    Application
                                                      4.2.4.5.2.1    Rest-of-Europe Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.2.4.5.2.2    Rest-of-Europe Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.2.4.5.3    Product
                                                      4.2.4.5.3.1    Rest-of-Europe Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
4.3    U.K.
         4.3.1    Market
                     4.3.1.1    Buyer Attributes
                     4.3.1.2    Key Manufacturers/Suppliers in the U.K.
                     4.3.1.3    Business Drivers
                     4.3.1.4    Business Challenges
         4.3.2    Application
                     4.3.2.1    U.K. Green Methanol Market (by Application), Value and Volume, 2021-2031
                     4.3.2.2    U.K. Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
         4.3.3    Product
                     4.3.3.1    U.K. Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
4.4    Asia-Pacific and Japan
         4.4.1    Market
                     4.4.1.1    Key Manufacturers/Suppliers in the Asia-Pacific and Japan
                     4.4.1.2    Business Drivers
                     4.4.1.3    Business Challenges
         4.4.2    Application
                     4.4.2.1    Asia-Pacific and Japan Green Methanol Market (by Application), Value and Volume, 2021-2031
                     4.4.2.2    Asia-Pacific and Japan Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
         4.4.3    Product
                     4.4.3.1    Asia-Pacific and Japan Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
         4.4.4    Asia-Pacific and Japan: Country Level Analysis
                     4.4.4.1    Japan
                                    4.4.4.1.1    Market
                                                      4.4.4.1.1.1    Buyer Attributes
                                                      4.4.4.1.1.2    Key Manufacturers/Suppliers in Japan
                                                      4.4.4.1.1.3    Business Drivers
                                                      4.4.4.1.1.4    Business Challenges
                                    4.4.4.1.2    Application
                                                      4.4.4.1.2.1    Japan Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.4.4.1.2.2    Japan Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.4.4.1.3    Product
                                                      4.4.4.1.3.1    Japan Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                     4.4.4.2    South Korea
                                    4.4.4.2.1    Market
                                                      4.4.4.2.1.1    Buyer Attributes
                                                      4.4.4.2.1.2    Key Manufacturers/Suppliers in South Korea
                                                      4.4.4.2.1.3    Business Drivers
                                                      4.4.4.2.1.4    Business Challenges
                                    4.4.4.2.2    Application
                                                      4.4.4.2.2.1    South Korea Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.4.4.2.2.2    South Korea Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.4.4.2.3    Product
                                                      4.4.4.2.3.1    South Korea Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                     4.4.4.3    India
                                    4.4.4.3.1    Market
                                                      4.4.4.3.1.1    Buyer Attributes
                                                      4.4.4.3.1.2    Key Manufacturers/Suppliers in India
                                                      4.4.4.3.1.3    Business Drivers
                                                      4.4.4.3.1.4    Business Challenges
                                    4.4.4.3.2    Application
                                                      4.4.4.3.2.1    India Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.4.4.3.2.2    India Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.4.4.3.3    Product
                                                      4.4.4.3.3.1    India Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                      4.4.4.4    Australia
                                    4.4.4.4.1    Market
                                                      4.4.4.4.1.1    Buyer Attributes
                                                      4.4.4.4.1.2    Key Manufacturers/Suppliers in Australia
                                                      4.4.4.4.1.3    Business Drivers
                                                      4.4.4.4.1.4    Business Challenges
                                    4.4.4.4.2    Application
                                                      4.4.4.4.2.1    Australia Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.4.4.4.2.2    Australia Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.4.4.4.3    Product
                                                      4.4.4.4.3.1    Australia Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                     4.4.4.5    Rest-of-Asia-Pacific and Japan
                                    4.4.4.5.1    Market
                                                      4.4.4.5.1.1    Buyer Attributes
                                                      4.4.4.5.1.2    Key Manufacturers/Suppliers in the Rest-of-Asia-Pacific and Japan
                                                      4.4.4.5.1.3    Business Drivers
                                                      4.4.4.5.1.4    Business Challenges
                                    4.4.4.5.2    Application
                                                      4.4.4.5.2.1    Rest-of-Asia-Pacific and Japan Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.4.4.5.2.2    Rest-of-Asia-Pacific and Japan Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.4.4.5.3    Product
                                                      4.4.4.5.3.1    Rest-of-Asia-Pacific and Japan Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
4.5    China
         4.5.1    Market
                     4.5.1.1    Buyer Attributes
                     4.5.1.2    Key Manufacturers/Suppliers in China
                     4.5.1.3    Business Drivers
                     4.5.1.4    Business Challenges
         4.5.2    Application
                     4.5.2.1    China Green Methanol Market (by Application), Value and Volume, 2021-2031
                     4.5.2.2    China Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
         4.5.3    Product
                     4.5.3.1    China Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
4.6    Rest-of-the-World
         4.6.1    Market
                     4.6.1.1    Key Manufacturers/Suppliers in the Rest-of-the-World
                     4.6.1.2    Business Drivers
                     4.6.1.3    Business Challenges
         4.6.2    Application
                     4.6.2.1    Rest-of-the-World Green Methanol Market (by Application), Value and Volume, 2021-2031
                     4.6.2.2    Rest-of-the-World Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
         4.6.3    Product
                     4.6.3.1    Rest-of-the-World Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
         4.6.4    Rest-of-the-World: Regional Level Analysis
                     4.6.4.1    South America
                                    4.6.4.1.1    Market
                                                      4.6.4.1.1.1    Buyer Attributes
                                                      4.6.4.1.1.2    Key Manufacturers/Suppliers in South America
                                                      4.6.4.1.1.3    Business Drivers
                                                      4.6.4.1.1.4    Business Challenges
                                    4.6.4.1.2    Application
                                                      4.6.4.1.2.1    South America Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.6.4.1.2.2    South America Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.6.4.1.3    Product
                                                      4.6.4.1.3.1    South America Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031
                     4.6.4.2    Middle East and Africa
                                    4.6.4.2.1    Market
                                                      4.6.4.2.1.1    Buyer Attributes
                                                      4.6.4.2.1.2    Key Manufacturers/Suppliers in the Middle East and Africa
                                                      4.6.4.2.1.3    Business Drivers
                                                      4.6.4.2.1.4    Business Challenges
                                    4.6.4.2.2    Application
                                                      4.6.4.2.2.1    Middle East and Africa Green Methanol Market (by Application), Value and Volume, 2021-2031
                                                      4.6.4.2.2.2    Middle East and Africa Green Methanol Market (by End-Use Industry), Value and Volume, 2021-2031
                                    4.6.4.2.3    Product
                                                      4.6.4.2.3.1    Middle East and Africa Green Methanol Market (by Methanol Type), Value and Volume, 2021-2031

5.1    Competitive Benchmarking
         5.1.1    Competitive Position Matrix
         5.1.2    Product Matrix for Key Companies
         5.1.3    Market Share Analysis of Key Companies
5.2    Company Profiles
         5.2.1    BASF SE
                     5.2.1.1    Company Overview
                     5.2.1.2    Role of BASF SE in the Green Methanol Market
                                    5.2.1.2.1    Product Portfolio
                     5.2.1.3    Business Strategies
                                    5.2.1.3.1    Product Developments
                     5.2.1.4    Analyst View
         5.2.2    Carbon Recycling International (CRI)
                     5.2.2.1    Company Overview
                     5.2.2.2    Role of Carbon Recycling International (CRI) in the Green Methanol Market    
                                    5.2.2.2.1    Product Portfolio
                                    5.2.2.2.2    Production Sites
                     5.2.2.3    Business Strategies
                                    5.2.2.3.1    Market Developments
                     5.2.2.4    Corporate Strategies
                                    5.2.2.4.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.2.5    R&D Analysis
                     5.2.2.6    Analyst View
         5.2.3    OCI N.V.
                     5.2.3.1    Company Overview
                     5.2.3.2    Role of OCI N.V. in the Green Methanol Market
                                    5.2.3.2.1    Product Portfolio
                                    5.2.3.2.2    Production Sites
                     5.2.3.3    Corporate Strategies
                                    5.2.3.3.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.3.4    Analyst View
         5.2.4    Eni S.p.A.
                     5.2.4.1    Company Overview
                     5.2.4.2    Role of Eni S.p.A. in the Green Methanol Market
                                    5.2.4.2.1    Product Portfolio
                                    5.2.4.2.2    Production Sites
                     5.2.4.3    Business Strategies
                                    5.2.4.3.1    Product Developments
                     5.2.4.4    Corporate Strategies
                                    5.2.4.4.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.4.5    R&D Analysis
                     5.2.4.6    Analyst View
         5.2.5    A.P. Moller – Maersk
                     5.2.5.1    Company Overview
                     5.2.5.2    Role of A.P. Moller - Maersk in the Green Methanol Market
                                    5.2.5.2.1    Product Portfolio
                                    5.2.5.2.2    Production Sites
                     5.2.5.3    Business Strategies
                                    5.2.5.3.1    Market Developments
                     5.2.5.4    Corporate Strategies
                                    5.2.5.4.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.5.5    Analyst View
         5.2.6    Methanex Corporation
                     5.2.6.1    Company Overview
                     5.2.6.2    Role of Methanex Corporation in the Green Methanol Market
                                    5.2.6.2.1    Product Portfolio
                                    5.2.6.2.2    Production Sites
                     5.2.6.3    Business Strategies
                                    5.2.6.3.1    Market Developments
                     5.2.6.4    Corporation Strategies
                                    5.2.6.4.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.6.5    Analyst View
         5.2.7    Mitsubishi Gas Chemical Company, Inc. (MCG)
                     5.2.7.1    Company Overview
                     5.2.7.2    Role of Mitsubishi Gas Chemical Company, Inc. (MCG) in the Green Methanol Market
                                    5.2.7.2.1    Product Portfolio
                                    5.2.7.2.2    Production Sites
                     5.2.7.3    Business Strategies
                                    5.2.7.3.1    Product Developments
                                    5.2.7.3.2    Market Developments
                     5.2.7.4    Corporate Strategies
                                    5.2.7.4.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.7.5    R&D Analysis
                     5.2.7.6    Analyst View
         5.2.8    European Energy
                     5.2.8.1    Company Overview
                     5.2.8.2    Role of European Energy in the Green Methanol Market
                                    5.2.8.2.1    Product Portfolio
                                    5.2.8.2.2    Production Sites
                     5.2.8.3    Business Strategies
                                    5.2.8.3.1    Market Developments
                     5.2.8.4    Corporate Strategies
                                    5.2.8.4.1    Mergers and Acquisitions
                                    5.2.8.4.2    Partnerships, Joint Ventures, and Collaborations
                     5.2.8.5    Analyst View
         5.2.9    Södra
                     5.2.9.1    Company Overview
                     5.2.9.2    Role of Södra in the Green Methanol Market
                                    5.2.9.2.1    Product Portfolio
                                    5.2.9.2.2    Production Sites
                     5.2.9.3    Business Strategies
                                    5.2.9.3.1    Market Developments
                     5.2.9.4    R&D Analysis
                                    5.2.9.4.1    Analyst View
       5.2.10    Enerkem
                     5.2.10.1    Company Overview
                     5.2.10.2    Role of Enerkem in the Green Methanol Market
                                      5.2.10.2.1    Product Portfolio
                                      5.2.10.2.2    Production Sites
                     5.2.10.3    Business Strategies
                                      5.2.10.3.1    Market Developments
                     5.2.10.4    Corporate Strategies
                                      5.2.10.4.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.10.5    Analyst View
       5.2.11    VärmlandsMetanol AB
                     5.2.11.1    Company Overview
                     5.2.11.2    Role of VärmlandsMetanol AB in the Green Methanol Market
                                      5.2.11.2.1    Product Portfolio
                                      5.2.11.2.2    Production Sites
                     5.2.11.3    Analyst View
       5.2.12    Liquid Wind AB
                     5.2.12.1    Company Overview
                     5.2.12.2    Role of Liquid Wind AB in the Green Methanol Market
                                      5.2.12.2.1    Product Portfolio
                                      5.2.12.2.2    Production Sites
                     5.2.12.3    Business Strategies
                                      5.2.12.3.1    Market Developments
                     5.2.12.4    Corporate Strategies
                                      5.2.12.4.1    Mergers and Acquisitions
                                      5.2.12.4.2    Partnerships, Joint Ventures, and Collaborations
                     5.2.12.5    Analyst View
       5.2.13    GIDARA Energy
                     5.2.13.1    Company Overview
                     5.2.13.2    Role of GIDARA Energy in the Green Methanol Market
                                      5.2.13.2.1    Product Portfolio
                     5.2.13.3    Business Strategies
                                      5.2.13.3.1    Market Developments
                     5.2.13.4    Corporate Strategies
                                      5.2.13.4.1    Mergers and Acquisitions
                                      5.2.13.4.2    Partnerships, Joint Ventures, and Collaborations
                     5.2.13.5    Analyst View
       5.2.14    Nordic Green ApS
                     5.2.14.1    Company Overview
                     5.2.14.2    Role of Nordic Green ApS in the Green Methanol Market
                                      5.2.14.2.1    Product Portfolio
                                      5.2.14.2.2    Production Sites
                     5.2.14.3    Business Strategies
                                      5.2.14.3.1    Market Developments
                     5.2.14.4    Analyst View
       5.2.15    Synhelion SA
                     5.2.15.1    Company Overview
                     5.2.15.2    Role of Synhelion SA in the Green Methanol Market
                                      5.2.15.2.1    Product Portfolio
                                      5.2.15.2.2    Production Sites
                     5.2.15.3    Business Strategies
                                      5.2.15.3.1    Product Developments
                     5.2.15.4    Corporate Strategies
                                      5.2.15.4.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.15.5    Analyst View
       5.2.16    HIF Global
                     5.2.16.1    Company Overview
                     5.2.16.2    Role of HIF Global in the Green Methanol Market
                                      5.2.16.2.1    Product Portfolio
                                      5.2.16.2.2    Production Sites
                     5.2.16.3    Business Strategies
                                      5.2.16.3.1    Market Developments
                     5.2.16.4    Corporate Strategies
                                      5.2.16.4.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.16.5    Analyst View
       5.2.17    WasteFuel
                     5.2.17.1    Company Overview
                     5.2.17.2    Role of WasteFuel in the Green Methanol Market
                                      5.2.17.2.1    Product Portfolio
                                      5.2.17.2.2    Production Sites
                     5.2.17.3    Business Strategies
                                      5.2.17.3.1    Product Developments
                                      5.2.17.3.2    Market Developments
                     5.2.17.4    Corporate Strategies
                                      5.2.17.4.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.17.5    Analyst View
       5.2.18    Glocal Green
                     5.2.18.1    Company Overview
                     5.2.18.2    Role of Glocal Green in the Green Methanol Market
                                      5.2.18.2.1    Product Portfolio
                                      5.2.18.2.2    Production Sites
                     5.2.18.3    Corporate Strategies
                                      5.2.18.3.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.18.4    Analyst View
       5.2.19    ABEL Energy Pty Ltd.
                     5.2.19.1    Company Overview
                     5.2.19.2    Role of ABEL Energy Pty Ltd. in the Green Methanol Market
                                      5.2.19.2.1    Product Portfolio
                                      5.2.19.2.2    Production Sites
                     5.2.19.3    Business Strategies
                                      5.2.19.3.1    Market Developments
                     5.2.19.4    Analyst View
       5.2.20    Southern Green Gas Limited
                     5.2.20.1    Company Overview
                     5.2.20.2    Role of Southern Green Gas Limited in the Green Methanol Market
                                      5.2.20.2.1    Product Portfolio
                                      5.2.20.2.2    Production Sites
                     5.2.20.3    Corporate Strategies
                                      5.2.20.3.1    Partnerships, Joint Ventures, and Collaborations
                     5.2.20.4    Analyst View

Research Methodology

Table 1:    Consortiums and Associations Related to the Green Methanol Market
Table 2:    Regulatory Bodies Related to the Green Methanol Market
Table 3:    Government Programs Related to the Green Methanol Market
Table 4:    Programs by Research Institutes and Universities Related to the Green Methanol Market
Table 5:    Biofuel Policies in Australia and their Effectiveness on the Green Methanol Market
Table 6:    Biofuel Policies in Austria and their Effectiveness on the Green Methanol Market
Table 7:    Biofuel Policies in Brazil and their Effectiveness on the Green Methanol Market
Table 8:    Biofuel Policies in Canada and their Effectiveness on the Green Methanol Market
Table 9:    Biofuel Policies in Denmark and their Effectiveness on the Green Methanol Market
Table 10:    Biofuel Policies in Germany and their Effectiveness on the Green Methanol Market
Table 11:    Biofuel Policies in India and their Effectiveness on the Green Methanol Market
Table 12:    Biofuel Policies in Japan and their Effectiveness on the Green Methanol Market
Table 13:    Biofuel Policies in the Netherlands and their Effectiveness on the Green Methanol Market
Table 14:    Biofuel Policies in South Korea and their Effectiveness on the Green Methanol Market
Table 15:    Biofuel Policies in Sweden and their Effectiveness on the Green Methanol Market
Table 16:    Biofuel Policies in the U.S. and their Effectiveness on the Green Methanol Market
Table 17:    Key Startups in the Green Methanol Market
Table 18:    Major Investors of Key Startups in the Green Methanol Market
Table 19:    Products/Offerings of Key Startups in the Green Methanol Market
Table 20:    Comparison of Various Fuel Sources
Table 21:    Green Methanol Market (by Application), $Million, 2021-2031
Table 22:    Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 23:    Methanol Powered Vehicles in Marine Industry, January 2015-July 2022
Table 24:    Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 25:    Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 26:    Global Potential of Biomass in 2012 and 2035 (In EJ)
Table 27:    Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 28:    Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 29:    Global Methanol Demand, Kilo Tons, 2017-2022
Table 30:    Global Methanol Supply, Kilo Tons, 2017-2022
Table 31:    North America Green Methanol Market (by Application), $Million, 2021-2031
Table 32:    North America Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 33:    North America Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 34:    North America Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 35:    North America Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 36:    North America Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 37:    U.S. Green Methanol Market (by Application), $Million, 2021-2031
Table 38:    U.S. Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 39:    U.S. Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 40:    U.S. Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 41:    U.S. Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 42:    U.S. Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 43:    Canada Green Methanol Market (by Application), $Million, 2021-2031
Table 44:    Canada Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 45:    Canada Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 46:    Canada Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 47:    Canada Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 48:    Canada Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 49:    Mexico Green Methanol Market (by Application), $Million, 2021-2031
Table 50:    Mexico Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 51:    Mexico Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 52:    Mexico Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 53:    Mexico Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 54:    Mexico Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 55:    Europe Green Methanol Market (by Application), $Million, 2021-2031
Table 56:    Europe Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 57:    Europe Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 58:    Europe Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 59:    Europe Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 60:    Europe Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 61:    Germany Green Methanol Market (by Application), $Million, 2021-2031
Table 62:    Germany Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 63:    Germany Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 64:    Germany Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 65:    Germany Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 66:    Germany Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 67:    Denmark Green Methanol Market (by Application), $Million, 2021-2031
Table 68:    Denmark Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 69:    Denmark Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 70:    Denmark Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 71:    Denmark Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 72:    Denmark Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 73:    Netherlands Green Methanol Market (by Application), $Million, 2021-2031
Table 74:    Netherlands Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 75:    Netherlands Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 76:    Netherlands Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 77:    Netherlands Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 78:    Netherlands Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 79:    Sweden Green Methanol Market (by Application), $Million, 2021-2031
Table 80:    Sweden Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 81:    Sweden Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 82:    Sweden Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 83:    Sweden Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 84:    Sweden Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 85:    Rest-of-Europe Green Methanol Market (by Application), $Million, 2021-2031
Table 86:    Rest-of-Europe Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 87:    Rest-of-Europe Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 88:    Rest-of-Europe Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 89:    Rest-of-Europe Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 90:    Rest-of-Europe Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 91:    U.K. Green Methanol Market (by Application), $Million, 2021-2031
Table 92:    U.K. Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 93:    U.K. Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 94:    U.K. Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 95:    U.K. Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 96:    U.K. Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 97:    Asia-Pacific and Japan Green Methanol Market (by Application), $Million, 2021-2031
Table 98:    Asia-Pacific and Japan Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 99:    Asia-Pacific and Japan Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 100:    Asia-Pacific and Japan Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 101:    Asia-Pacific and Japan Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 102:    Asia-Pacific and Japan Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 103:    Japan Green Methanol Market (by Application), $Million, 2021-2031
Table 104:    Japan Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 105:    Japan Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 106:    Japan Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 107:    Japan Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 108:    Japan Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 109:    South Korea Green Methanol Market (by Application), $Million, 2021-2031
Table 110:    South Korea Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 111:    South Korea Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 112:    South Korea Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 113:    South Korea Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 114:    South Korea Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 115:    India Green Methanol Market (by Application), $Million, 2021-2031
Table 116:    India Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 117:    India Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 118:    India Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 119:    India Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 120:    India Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 121:    Australia Green Methanol Market (by Application), $Million, 2021-2031
Table 122:    Australia Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 123:    Australia Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 124:    Australia Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 125:    Australia Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 126:    Australia Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 127:    Rest-of-Asia-Pacific and Japan Green Methanol Market (by Application), $Million, 2021-2031
Table 128:    Rest-of-Asia-Pacific and Japan Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 129:    Rest-of-Asia-Pacific and Japan Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 130:    Rest-of-Asia-Pacific and Japan Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 131:    Rest-of-Asia-Pacific and Japan Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 132:    Rest-of-Asia-Pacific and Japan Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 133:    China Green Methanol Market (by Application), $Million, 2021-2031
Table 134:    China Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 135:    China Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 136:    China Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 137:    China Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 138:    China Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 139:    Rest-of-the-World Green Methanol Market (by Application), $Million, 2021-2031
Table 140:    Rest-of-the-World Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 141:    Rest-of-the-World Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 142:    Rest-of-the-World Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 143:    Rest-of-the-World Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 144:    Rest-of-the-World Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 145:    South America Green Methanol Market (by Application), $Million, 2021-2031
Table 146:    South America Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 147:    South America Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 148:    South America Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 149:    South America Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 150:    South America Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 151:    Middle East and Africa Green Methanol Market (by Application), $Million, 2021-2031
Table 152:    Middle East and Africa Green Methanol Market (by Application), Kilo Ton, 2021-2031
Table 153:    Middle East and Africa Green Methanol Market (by End-Use Industry), $Million, 2021-2031
Table 154:    Middle East and Africa Green Methanol Market (by End-Use Industry), Kilo Ton, 2021-2031
Table 155:    Middle East and Africa Green Methanol Market (by Methanol Type), $Million, 2021-2031
Table 156:    Middle East and Africa Green Methanol Market (by Methanol Type), Kilo Ton, 2021-2031
Table 157:    Product Matrix for Key Companies in the Green Methanol Market
Table 158:    Market Share of Key Companies in the Green Methanol Market, 2021

Figure 1:    Green Methanol Market, $Million, 2021, 2022, and 2031
Figure 2:    Green Methanol Market (by End-Use Industry), $Million, 2021 and 2031
Figure 3:    Green Methanol Market (by Application), $Million, 2021 and 2031
Figure 4:    Green Methanol Market (by Methanol Type), $Million, 2021 and 2031
Figure 5:    Green Methanol Market (by Region), $Million, 2021 and 2031
Figure 6:    Green Methanol Market Coverage
Figure 7:    Green Methanol Market Supply Chain Network
Figure 8:    Water Electrolysis Market Snapshot
Figure 9:    Green Ammonia Market Snapshot
Figure 10:    Carbon Capture Utilization and Storage (CCUS) Market Snapshot
Figure 11:    Green Methanol Market, Product Benchmarking (by Methanol Type)
Figure 12:    Global Patents Filed and Granted, January 2019-August 2022
Figure 13:    Patents Filed by Leading Countries, January 2019-August 2022
Figure 14:    Patents Granted to Leading Countries, January 2019-August 2022
Figure 15:    Competitive Position Matrix of Key Companies Operating in the Green Methanol Market
Figure 16:    Carbon Recycling International (CRI): R&D Expenditure, $Billion, 2019-2021
Figure 17:    Eni S.p.A.: R&D Expenditure, $Million, 2019-2021
Figure 18:    Mitsubishi Gas Chemical Company, Inc.: R&D Expenditure, $Million, 2019-2021
Figure 19:    Södra: R&D Expenditure, $Million, 2019-2021
Figure 20:    Research Methodology
Figure 21:    Top-Down and Bottom-Up Approach
Figure 22:    Influencing Factors of the Green Methanol Market
Figure 23:    Assumptions and Limitations

Market Report Coverage

Green Methanol Market

Base Year

2021

Market Size in 2021

$122.35 Million

Forecast Period

2022-2031

Value Projection and Estimation by 2031

$3,149.05 Million

CAGR During Forecast Period

39.63%

Number of Tables

158

Number of Pages

239

Number of Figures

23

 

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Green Methanol Market, Revenue Share (by Methanol Type), 2021

Bio-methanol is the largest segment in the market, accounting for around 98.27% market share in 2021, while e-methanol contributed around 1.73% share.

Green Methanol Market

Some prominent names established in this market are:

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

Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable).

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types of green methanol produced and their potential globally. Moreover, the study provides the reader with a detailed understanding of the green methanol market by end-use industry (transportation/mobility, chemical industry, power generation, and other end-use industry), by application (fuel, chemical feedstock, other application), and by methanol type (bio-methanol and e-methanol).

Growth/Marketing Strategy: The green methanol market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint ventures. The favored strategy for the companies has been partnerships and joint ventures to strengthen their position in the green methanol market. For instance, in September 2022, Winterthur Gas & Diesel (WinGD) and HSD Engine (HSD) announced that the companies would partner to develop an engine capable of running on green methanol by 2024.

Competitive Strategy: Key players in the green methanol market analyzed and profiled in the study involve major green methanol producers. Moreover, a detailed competitive benchmarking of the players operating in the green methanol market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry and Technology Overview

Green Methanol Market Industry Overview

The global green methanol market is projected to reach $3,149.05 million by 2031 from $122.35 million in 2021, growing at a CAGR of 39.63% during the forecast period 2022-2031.

Green methanol or renewable methanol is produced from a variety of sources such as biomasses, including forestry and agricultural waste, byproducts, biogas, sewage, municipal solid waste (MSW), black liquor from the pulp and paper industry, carbon dioxide, and green hydrogen produced with renewable electricity. Methanol produced from biomass is called bio-methanol, and the one produced from CO2, green hydrogen, and renewable electricity is known as e-methanol.

Market Lifecycle Stage

Green methanol has been around for years now, with companies such as CRI, OCI N.V., and Chemrec AB being some of the earliest players in the market. Carbon Recycling International (CRI) set up a first-of-its-kind e-methanol demonstration plant in 2010-11 in Iceland and became the first company to start commercial production of e-methanol in 2012 under the brand name Vulcanol. OCI N.V.’s subsidiary BioMCN was the first company to enter bio-methanol production, with the first project starting in 2010 in the Netherlands with a capacity of 200 KT/year.

Since then, the market has grown significantly, with demand increasing every day owing to strict carbon-emission regulations in the maritime industry and growing emphasis on biofuels from the governments. The maritime industry, biofuels, and support from the government are expected to further drive the growth of the market during the forecast period.

Figure: Green Methanol Market, $Million, 2021, 2022, and 2031

Green Methanol Market

Industrial Impact

The growth of the green methanol market is closely tied to the growing demand for green methanol from the maritime industry as a clean and sustainable fuel source. Growing demand for green methanol from the maritime industry has led to a growing number of project announcements for green methanol around the globe. Additionally, a growing number of maritime shipping and logistic companies have announced the decision to include methanol-powered ships in their portfolio. For instance, in September 2022, the chairmen of China Merchants and COSCO Shipping Bulk announced that methanol as a primary source of fuel for their ships would be at the forefront of their research in the future.

Impact of COVID-19

The outbreak of COVID-19 has caused several delays in manufacturing operations, which have resulted in the slowdown of the green methanol market. Also, supply chain disruptions have negatively impacted the green methanol market. Currently, companies are trying to secure long-term supply contracts with other suppliers to maintain smooth operations and an uninterrupted supply of green methanol to consumers.

Market Segmentation:

Segmentation 1: by End-Use Industry
•    Transportation/Mobility
•    Chemical Industry
•    Power Generation
•    Other End-Use Industry

The transportation/mobility segment is the largest end-use industry and is expected to dominate the market during the forecast period 2022-2031. The transportation/mobility segment is witnessing the growing adoption of green methanol due to the rising emphasis on the decarbonization of the marine industry.

Segmentation 2: by Application
•    Fuel
•    Chemical Feedstock
•    Other Application

The fuel segment is the largest application segment and is expected to dominate the market during the forecast period 2022-2031. Green methanol is being used as a fuel, primarily in the maritime industry, owing to strict regulations and growing emphasis on the decarbonization of the maritime industry. The International Maritime Organization (IMO) has set an ambitious target of reducing international shipping carbon emissions per transport work by at least 40% by 2030 and by 70% by 2050, from 2008 levels. This is expected to be one of the major drivers of the growing application of green methanol as fuel in the maritime industry.

Segmentation 3: by Methanol Type
•    Bio-Methanol
•    E-Methanol

The bio-methanol segment is the largest in methanol type and is expected to dominate the market during the forecast period 2022-2031. Bio-methanol is produced from biological feedstock such as forest residue, municipal solid waste (MSW), biogas, and biomass. Bio-methanol production has been around for decades and does not require large investments, unlike e-methanol production, which requires large investments to set up green hydrogen and carbon capture plants.

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 

Europe dominates the green methanol market due to the presence of several leading companies, such as Carbon Recycling International (CRI), European Energy, and Liquid Wind AB, in the region. A highly developed renewable energy market and growing investment from shipping companies such as Auramarine and A.P. Moller – Maersk are also contributing to the dominant share of Europe in the market.

Recent Developments in the Green Methanol Market

•    In September 2022, Sanlorenzo – an Italian yacht builder, and Rolls-Royce announced their plans to develop and build a large luxury yacht equipped with a methanol-powered engine propulsion system that would be running on carbon-neutral green methanol. The first yacht built under this partnership will be equipped with two MTU (a core brand of Rolls-Royce) methanol engines from Rolls-Royce and is expected to set sail in 2026.
•    In August 2022, European Energy signed an agreement with Anaergia for the supply of up to 60,000 metric tons per year of liquefied biogenic carbon dioxide (CO2) for a period of the next ten years. European Energy will use this CO2 to produce e-methanol for A.P. Moller – Maersk as part of their previously signed agreement in March 2022.
•    In March 2022, OCI N.V. signed a partnership with NortH2 to develop the first integrated large-scale green ammonia and green methanol value chain through green hydrogen supply by NortH2 to OCI N.V. plants in the Netherlands.
•    In March 2022, Mitsubishi Gas Chemical Company, Inc. and JFE Engineering Corporation announced that they had succeeded in producing methanol from CO? recovered from waste incineration exhaust gas using the carbon capture and utilization (CCU) process. The pilot plant was set up at Mitsubishi Gas Chemical Niigata Research Laboratory, and the companies have announced that they will continue to collaborate to create a decarbonized society.
•    In February 2022, Carbon Recycling International installed the largest CO2-to-methanol reactor in CRI's Anyang project, Henan province, China. The installed reactor is designed on Carbon Recycling International’s emissions-to-liquid (ETL) process technology.
•    In September 2021, A.P. Moller - Maersk invested in California-based WasteFuel to develop green bio-methanol in North America and Asia. Maersk’s investment will be used by WasteFuel for developing the infrastructure for bio-refineries, which will enable the company to utilize the most effective technologies available to produce sustainable fuels from unrecoverable waste.

Demand – Drivers and Limitations

Following are the demand 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

The market is expected to face some limitations as well due to the following challenges:

•    Limited Availability of Renewable Feedstock Sources for Bio-Methanol
•    High Cost of e-Methanol Production

Analyst’s Thoughts

According to Sachin Singh, Lead Analyst, BIS Research, "The green methanol market is expected to register continuous growth during the forecast period owing to the growing demand for sustainable energy sources, rising green methanol demand from the maritime industry, and investment from the government toward green and sustainable technologies. Moreover, growing investment in renewable energy sources and demand for energy storage technologies are also expected to contribute toward the growth of the green methanol market during the forecast period.”

FAQ's

What is green methanol?

Green methanol or renewable methanol is produced from a variety of sources such as biomass, including forestry and agricultural waste, byproducts, biogas, sewage, municipal solid waste (MSW), black liquor from the pulp and paper industry, carbon dioxide, and green hydrogen produced with renewable electricity. Methanol produced from biomass is called bio-methanol, and the one produced from CO2, green hydrogen, and renewable electricity is known as e-methanol.

What are the key trends in the green methanol market?

The key trends in the green methanol market include growing demand for sustainable and carbon emission-free methods for hydrogen production and growing demand for green methanol from the maritime industry.

What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?

The green methanol market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. According to BIS Research analysis, the majority of the companies preferred partnerships, collaborations, and joint ventures as a strategy to further increase their presence in the green methanol market. Companies such as Carbon Recycling International (CRI), Methanex Corporation, European Energy, and LiquidWind AB have majorly adopted partnerships, collaborations, and joint venture strategies in recent years.

For a new company looking to enter the green methanol market, which areas could it focus upon to stay ahead of the competition?

A new entrant can focus on e-methanol production and partnerships with maritime industry players as their go-to-market entry strategy. With demand from the maritime industry expected to remain high for green methanol owing to strict regulations by IMO, the partnerships with maritime industry players can provide relatively easy entry into the green methanol market to new players.

What is the USP of this report?

· Critical analysis of two types of green methanol products and various applications and end-use industries

· Evaluation of key startups in the green methanol market

· Critical evaluation of the Ukraine-Russia conflict and its effect on the green methanol market

· Snapshot of the water electrolysis market

· Snapshot of the green ammonia market

· Snapshot of the carbon capture and utilization (CCU) market

· Biofuel policies and their impact on the green methanol market for 10+ leading countries

· Patent analysis for the patents filed related to green methanol since January 1, 2019

Who should buy this report?

The companies that are offering water electrolyzers, maritime industry players, CCU companies, and methanol technology providers can buy the report. Also, end users from industries such as maritime and chemicals can buy the report.

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