The global renewable methanol market size is expected to reach USD 48,382.65 Million by 2032, according to a new study by Polaris Market Research. The report "Renewable Methanol Market Share, Size, Trends, Industry Analysis Report, By Feedstock (Renewable Energy, Agricultural Waste, Municipal Solid Waste, Forestry Residues); By Application; By End-Use; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for renewable methanol is increasing due to various factors, including regulations, corporate sustainability, and consumer preferences for environment-friendly products. As businesses strive to adopt greener practices in response to growing awareness of climate change, renewable methanol is becoming a preferred feedstock in chemical production processes.
The urgent need to significantly reduce or eliminate CO2 emissions to mitigate climate change is a primary driver behind the growth of the renewable methanol market. With the global focus on limiting the average temperature rise to no more than 1.5°C above pre-industrial levels, industries are seeking alternatives to conventional fossil fuel-based processes. Renewable methanol offers a viable solution by providing a cleaner, more sustainable source of methanol production, thus contributing to global efforts to combat climate change.
The increasing demand for sustainable fuel alternatives is a significant driver for the growth of the renewable methanol market. As concerns over climate change escalate, there's a growing emphasis on reducing carbon emissions across various industries. Renewable methanol presents itself as a viable solution due to its potential to significantly lower greenhouse gas emissions compared to conventional fossil fuel-based methanol. As per the World Economic Forum reports, investments in renewables hitting record highs, reaching $1.3 trillion in 2022, there's a clear signal of global commitment towards transitioning to cleaner energy sources.
However, despite the momentum toward sustainability, green methanol production remains relatively low compared to conventional methanol derived from fossil fuels. Currently, less than 0.2 million tonnes of green methanol are produced annually, while 98 million tonnes of conventional methanol are sourced from fossil fuels. The disparity underscores the need for scaling up green methanol production to meet the rising demand for sustainable fuel alternatives.
Renewable Methanol Market Report Highlights
The renewable energy segment dominated the global market in 2023. Renewable energy has gained tremendous popularity in recent decades due to increasing concerns about fossil fuel depletion and the subsequent rise in global temperatures caused by greenhouse gas (GHG) emissions.
The gasoline sector is anticipated to experience a steady increase in growth during the upcoming years. Gasoline, a conventional fuel, is widely used by most conventional internal combustion engines (ICEs) worldwide.
The global market is led by Europe, which holds the largest revenue share. The region's renewable methanol industry covers a wide range of aspects, including production, consumption, and market dynamics. Europe is a key market for renewable methanol, as it is driven by growing demand for low-carbon fuels and chemicals.
The global key market players include Advent Technologies, BASF SE, Thyssenkrupp Uhde GmbH, Veolia, Sodra, WASTEFUEL, Carbon Recycling International, Enerkem, Methanex Corporation, OCI, etc.
Polaris Market Research has segmented the renewable methanol market report based on feedstock, application, end-use, and region:
Renewable Methanol, Feedstock Outlook (Revenue - USD Million, 2019 - 2032)
- Renewable Energy
- Agricultural Waste
- Municipal Solid Waste
- Forestry Residues
Renewable Methanol, Application Outlook (Revenue - USD Million, 2019 - 2032)
- Formaldehyde
- Gasoline
- Dimethyl Ether (DME) & Methyl Tert-Butyl Ether (MTBE)
- Solvents
- Other Applications
Renewable Methanol, End-Use Outlook (Revenue - USD Million, 2019 - 2032)
- Chemical
- Transportation
- Power Generation
- Other End-Users
Renewable Methanol, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Austria
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Australia
- Rest of APAC
- Latin America
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of MEA
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Renewable Methanol Market Insights
- 4.1. Renewable Methanol Market - End-Use Snapshot
- 4.2. Renewable Methanol Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing focus on reducing carbon emissions
- 4.2.1.2. Increasing demand for sustainable fuel alternatives
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Lack of infrastructure for the production of renewable methanol
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Renewable Methanol Market End-Use Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Renewable Methanol Market, by Feedstock
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 5.3. Renewable Energy
- 5.3.1. Global Renewable Methanol Market, by Renewable Energy, by Region, 2019-2032 (USD Million)
- 5.4. Agricultural Waste
- 5.4.1. Global Renewable Methanol Market, by Agricultural Waste, by Region, 2019-2032 (USD Million)
- 5.5. Municipal Solid Waste
- 5.5.1. Global Renewable Methanol Market, by Municipal Solid Waste, by Region, 2019-2032 (USD Million)
- 5.6. Forestry Residues
- 5.6.1. Global Renewable Methanol Market, by Forestry Residues, by Region, 2019-2032 (USD Million)
6. Global Renewable Methanol Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 6.3. Formaldehyde
- 6.3.1. Global Renewable Methanol Market, by Formaldehyde, by Region, 2019-2032 (USD Million)
- 6.4. Gasoline
- 6.4.1. Global Renewable Methanol Market, by Gasoline, by Region, 2019-2032 (USD Million)
- 6.5. Dimethyl Ether (DME) & Methyl Tert-Butyl ETHER (MTBE)
- 6.5.1. Global Renewable Methanol Market, by Dimethyl Ether (DME) & Methyl Tert-Butyl ETHER (MTBE), by Region, 2019-2032 (USD Million)
- 6.6. Solvents
- 6.6.1. Global Renewable Methanol Market, by Solvents, by Region, 2019-2032 (USD Million)
- 6.7. Other Applications
- 6.7.1. Global Renewable Methanol Market, by Other Applications, by Region, 2019-2032 (USD Million)
7. Global Renewable Methanol Market, by End-Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 7.3. Chemical
- 7.3.1. Global Renewable Methanol Market, by Chemical, By Region, 2019-2032 (USD Million)
- 7.4. Transportation
- 7.4.1. Global Renewable Methanol Market, by Transportation, By Region, 2019-2032 (USD Million)
- 7.5. Power Generation
- 7.5.1. Global Renewable Methanol Market, by Power Generation, By Region, 2019-2032 (USD Million)
- 7.6. Other End-Users
- 7.6.1. Global Renewable Methanol Market, by Other End-Users, By Region, 2019-2032 (USD Million)
8. Global Renewable Methanol Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Renewable Methanol Market Assessment, By Geography, 2019-2032 (USD Million)
- 8.3. Renewable Methanol Market - North America
- 8.3.1. North America: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.3.2. North America: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.3.3. North America: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.3.4. Renewable Methanol Market - U.S.
- 8.3.4.1. U.S.: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.3.4.2. U.S.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.3.4.3. U.S.: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.3.5. Renewable Methanol Market - Canada
- 8.3.5.1. Canada: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.3.5.2. Canada.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.3.5.3. Canada: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.4. Renewable Methanol Market - Europe
- 8.4.1. Europe: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.4.2. Europe.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.4.3. Europe: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.4.4. Renewable Methanol Market - UK
- 8.4.4.1. UK: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.4.4.2. UK.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.4.4.3. UK: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.4.5. Renewable Methanol Market - France
- 8.4.5.1. France: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.4.5.2. France.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.4.5.3. France: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.4.6. Renewable Methanol Market - Germany
- 8.4.6.1. Germany: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.4.6.2. Germany.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.4.6.3. Germany: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.4.7. Renewable Methanol Market - Italy
- 8.4.7.1. Italy: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.4.7.2. Italy.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.4.7.3. Italy: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.4.8. Renewable Methanol Market - Spain
- 8.4.8.1. Spain: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.4.8.2. Spain.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.4.8.3. Spain: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.4.9. Renewable Methanol Market - Netherlands
- 8.4.9.1. Netherlands: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.4.9.2. Netherlands.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.4.9.3. Netherlands: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.4.10. Renewable Methanol Market - Russia
- 8.4.10.1. Russia: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.4.10.2. Russia.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.4.10.3. Russia: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.5. Renewable Methanol Market - Asia Pacific
- 8.5.1. Asia Pacific: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.5.2. Asia Pacific.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.5.3. Asia Pacific: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.5.4. Renewable Methanol Market - China
- 8.5.4.1. China: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.5.4.2. China.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.5.4.3. China: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.5.5. Renewable Methanol Market - India
- 8.5.5.1. India: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.5.5.2. India.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.5.5.3. India: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.5.6. Renewable Methanol Market - Malaysia
- 8.5.6.1. Malaysia: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.5.6.2. Malaysia.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.5.6.3. Malaysia: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.5.7. Renewable Methanol Market - Japan
- 8.5.7.1. Japan: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.5.7.2. Japan.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.5.7.3. Japan: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.5.8. Renewable Methanol Market - Indonesia
- 8.5.8.1. Indonesia: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.5.8.2. Indonesia.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.5.8.3. Indonesia: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.5.9. Renewable Methanol Market - South Korea
- 8.5.9.1. South Korea: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.5.9.2. South Korea.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.5.9.3. South Korea: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.6. Renewable Methanol Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.6.2. Middle East & Africa.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.6.3. Middle East & Africa: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.6.4. Renewable Methanol Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.6.4.2. Saudi Arabia.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.6.4.3. Saudi Arabia: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.6.5. Renewable Methanol Market - UAE
- 8.6.5.1. UAE: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.6.5.2. UAE.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.6.5.3. UAE: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.6.6. Renewable Methanol Market - Israel
- 8.6.6.1. Israel: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.6.6.2. Israel.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.6.6.3. Israel: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.6.7. Renewable Methanol Market - South Africa
- 8.6.7.1. South Africa: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.6.7.2. South Africa.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.6.7.3. South Africa: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.7. Renewable Methanol Market - Latin America
- 8.7.1. Latin America: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.7.2. Latin America.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.7.3. Latin America: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.7.4. Renewable Methanol Market - Mexico
- 8.7.4.1. Mexico: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.7.4.2. Mexico.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.7.4.3. Mexico: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.7.5. Renewable Methanol Market - Brazil
- 8.7.5.1. Brazil: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.7.5.2. Brazil.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.7.5.3. Brazil: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
- 8.7.6. Renewable Methanol Market - Argentina
- 8.7.6.1. Argentina: Renewable Methanol Market, by Feedstock, 2019-2032 (USD Million)
- 8.7.6.2. Argentina.: Renewable Methanol Market, by End-Use, 2019-2032 (USD Million)
- 8.7.6.3. Argentina: Renewable Methanol Market, by Application, 2019-2032 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Advent Technologies A/S
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. BASF SE
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Thyssenkrupp Uhde GmbH
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Carbon Recycling International
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Enerkem
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Methanex Corporation
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Veolia
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. WASTEFUEL
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. OCI
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Sodra
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development