Delray Beach, FL, Oct. 23, 2024 (GLOBE NEWSWIRE) -- The Green Methanol Market is projected to grow from USD 1.9 billion in 2024 to USD 11.1 billion by 2030, at a CAGR of 33.8% during the forecast period, as per the recent study by MarketsandMarkets. The rising emphasis on cutting greenhouse gas emissions and combating climate change is boosting demand for green methanol as a sustainable alternative to fossil fuel-derived methanol. Moreover, government policies aimed at encouraging the use of renewable energy and reducing greenhouse gas emissions are spurring investment and growth in the green methanol market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=3175390
Browse in-depth TOC on "Green Methanol Market”
225 - Market Data Tables
50 - Figures
192 - Pages
List of Key Players in Green Methanol Market:
- OCI N.V. (Netherlands)
- Carbon Recycling International Inc. (Iceland)
- Methanex Corporation (Canada)
- Proman (Switzerland)
- Södra (Sweden)
- Driver: Increasing demand for sustainable and renewable energy sources and expanding demand for Green Methanol in Automotive and Construction Market
- Restraint: Competing fuel options - Ethanol, Hydrogen, Biofuels
- Opportunity: Use of green methanol as an alternative fuel in marine and manufacturing industries
- Challenge: Infrastructure, scale and efficiency limitations for production of Green Methanol
- Based on feedstock, biomass accounted for the largest market share of the overall market.
- By application fuel segment is estimated to account for the highest CAGR during the forecast period.
- North America is estimated to account for the highest CAGR during the forecast period.
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.
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.
Get 10% Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=3175390
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.
Browse Adjacent Markets: Advanced Materials Market Research Reports & Consulting
Related Reports:
- Green Hydrogen Market - Global Forecast to 2030
- Technical Ceramics Market - Global Forecast to 2029
- Precast Concrete Market - Global Forecast to 2027
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : 1-888-600-6441
UK +44-800-368-9399
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/
