Rapid Technological Advancements to Expedite Global E-Methanol Market Through 2031

According to the Markets and Data, Research report, “Global E-Methanol Market Assessment, By Region, Opportunities, and Forecast, 2017-2031F”, the Global E-Methanol Market was valued at USD 231.10 million in 2023 and is expected to register a CAGR of 26.65% during the forecast period.

Methanol is regarded as one of the most pivotal liquid chemicals with diverse applications in plastics, fuels, paints, chemical feedstocks, etc. Ultra-low carbon chemicals, such as renewable methanol, are gaining popularity among sectors striving for sustainable development. Furthermore, methanol has led to the development of a resounding approach to generate electricity in a liquid form and store energy, which is regarded to be an efficient use of carbon.

The number of e-methanol manufacturing plants has expanded due to continued technical improvements and greater government assistance. The cost of carbon dioxide and hydrogen sources greatly affects the cost of producing e-methanol, which typically varies from USD 800-2400/ton, based on the carbon dioxide method.

Comparatively speaking to hydrogen or LNG, e-methanol has several benefits, including the capacity to be stored and transported at ambient temperature and pressure with ease. Greener than conventional fuels, e-methanol derived from renewable resources like biomass or green hydrogen contributes to the reduction of carbon emissions. The need to scale up production, the growing need for sustainable and renewable fuel, the rising integration of e-methanol in chemical feedstocks, the escalation of feedstock competition, legislative support, a sharp growth in demand rate, and economic feasibility are some of the key drivers. These characteristics highlight the potential of e-methanol as a flexible and long-term fuel option throughout the switch to cleaner energy.

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Spread through 221 pages, the "Global e-methanol Market" report includes an in-depth TOC, over 38 market data figures, the latest market developments, key drivers and opportunities, and a thorough study of major company profiles. Moreover, the report offers strategic recommendations, pricing analysis, market share analysis, and value chain analysis in detail.

Key Takeaways:

• Increasing Integration of e-methanol in chemical feedstocks is expected to drive market growth.
• To maintain their leading position and gain a competitive edge, major multinational firms are investing in the upgradation of their respective qualities of e-methanol.
• Rapid technological advancements and the rise in the number of methanol power plant units are propelling the market growth.

Global E-Methanol Market is Segmented in the Following Categories:

By Energy Source : Solar, Hydro, Wind, Others

By Application : Chemical Feedstock, Marine Fuel, Power Generation, Others

By Region: North America, Europe, Asia-Pacific, South America, Middle East Africa

Based on the application, the chemical feedstock category controlled the market completely. Because of its importance in the chemical industry, the chemical feedstock segment dominates the e-methanol application segment. E-methanol is a valuable feedstock for the manufacture of several chemical compounds and materials, including formaldehyde, dimethyl ether (DME), and methyl tert-butyl ether (MTBE). As the chemical industry grows, the need for e-methanol as a sustainable feedstock increases correspondingly to satisfy feedstock requirements.

In terms of region, Europe led the market, owing to the existence of prominent businesses such as Carbon Recycling International (CRI) and the area's dedication to decarbonization. The transportation/mobility area is the largest end-use industry, with green methanol use increasing in the marine sector as a result of severe restrictions and the decarbonization drive. The International Maritime Organization (IMO) has set a target for the reduction of international shipping carbon emissions from 2008 levels, increasing demand for green methanol as a fuel in the EU.

Major Companies Operating in the Global E-Methanol Market Include:

• Orsted A/S
• European Energy A/S
• Topsoe A/S
• Henan Shuncheng Group
• Elyse Energy
• Siemens Energy AG
• BASF SE
• Tractebel Engineering GmbH
• Carbon Recycling International
• Uniper SE

Companies in the field of e-methanol are committed to introducing more methanol power plants across the globe. This dedication is driving the industry's fast evolution, with increased demand, thereby contributing significantly to market growth. 

In December 2023, during COP28, Orsted's FlagshipONE E-Methanol Project garnered significant backing from Breakthrough Energy Catalyst, which contributed 15% and offered a grant (subject to financial requirements). With this support, Orsted should be able to secure long-term offtake agreements as well as bring about changes to fuel procurement in the marine sector. To improve FlagshipONE's technology and increase the production of green fuel, Orsted expects more funding from Horizon Europe grants and a quasi-equity investment from the European Investment Bank (EIB) through InvestEU.

In July 2023, with an annual capacity of around 32,000 tons, European Energy A/S stated that it is constructing the largest CO2-to-green methanol production in the world in Denmark. The plant will produce methanol using Clariant's Megamax catalyst, which is renowned for its high activity and stability in the conversion of CO2 to methanol. This project is in line with producing green methanol for the benefit of sectors, including the chemical industry and maritime transportation.

“Global E-Methanol Market Assessment, 2017-2031F”, evaluates the future growth potential of global e-methanol market and provides statistics and information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make investment decisions for their organizations more strategically. Moreover, the report also identifies and examines the emerging trends along with key drivers, challenges, and opportunities in the global e-methanol market.

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