Europe Renewable Methanol Market Size Worth USD 23,773.86 Million By 2032 | CAGR: 53.9%

The Europe Renewable Methanol market size is expected to reach USD 23,773.86 million by 2032, according to a new study by Polaris Market Research. The report “Europe 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 Country; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The European renewable methanol market has experienced substantial expansion in the past few years, propelled by the rising utilization of methanol as a flexible liquid chemical with various applications. The introduction of renewable methanol has triggered a transformative change within the sector. Renewable methanol, also referred to as bio-methanol, is an extremely low-carbon chemical produced from sustainable biomass or by combining CO2 and hydrogen derived from renewable electricity. The manufacturing of renewable methanol is not confined to particular areas, as it can be obtained from a wide variety of renewable feedstocks.

Several companies are currently investigating the possibility of utilizing surplus renewable energy to produce clean hydrogen through electrolysis. Germany-based, Thyssenkrupp, is also procuring excess CO2 from industrial sources to manufacture renewable methanol. BioMCN, a company based in the Netherlands, has opted to generate renewable methanol by substituting traditional natural gas with biogas as a raw material in its production process. This company sources biogas from various origins, such as municipal solid waste landfills and anaerobic digestion plants, which is then refined to meet quality standards.

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In light of growing concerns about global climate change, the Netherlands has implemented stricter environmental regulations on carbon emissions. It has actively promoted the use of anaerobic digestion plants to convert organic waste into biogas. These digestion plants help reduce greenhouse gas emissions by capturing methane. They are managed by waste management companies, industrial enterprises, and farmers handling a variety of municipal, industrial, and agricultural waste streams.  

In addition, renewable methanol in Europe encompasses various aspects related to its production, consumption, and market dynamics. Europe represents a significant market for renewable methanol, driven by increasing demand for low-carbon fuels and chemicals. The market is expected to grow as renewable energy technologies mature, production costs decline, and awareness of environmental sustainability increases. Europe is actively engaged in international collaboration initiatives aimed at advancing renewable energy technologies, including renewable methanol. Collaborative projects, partnerships, and knowledge exchange with countries outside Europe contribute to the development and deployment of renewable methanol technologies.

Europe Renewable Methanol Market Report Highlights

• The renewable energy segment dominates the market. This is mainly due to the significant surge in the implementation of dedicated policies and measures, as well as the rapid advancement of technology.
• ·The chemical segment accounted for the largest market by utilizing excess renewable electricity to power electrolysis, for production of renewable methanol, used as a reliable fuel source for power plants, ensuring sustainability and energy availability.
• Germany is currently at the forefront of the Renewable Methanol market in Europe, and the UK is anticipated to grow with a healthy CAGR owing to its flexible and more environmentally friendly fuel, in contrast to conventional fossil fuels, through the adoption and integration of advanced technologies.
• The key market players include BASF SE, Chemrec AB, Nodic Green Energy, Carbon Recycling International, Innogy, OCI N.V, Sodra, Siemens Energy, etc.

Polaris Market Research has segmented the Europe renewable methanol market report based on feedstock, application, end use, and country:

Europe Renewable Methanol, Feedstock Outlook (Revenue - USD Million, 2019 - 2032)

• Renewable energy
• Agricultural waste
• Municipal Solid waste
• Forestry residues

Europe Renewable Methanol, Application Outlook (Revenue - USD Million, 2019 - 2032)

• Formaldehyde
• Gasoline
• Dimethyl Ether & Methyl Tert-Butyl Ether
• Solvents
• Others

Europe Renewable Methanol, End Use Outlook (Revenue - USD Million, 2019 - 2032)

• Chemical
• Transportation
• Power Generation
• Others

Europe Renewable Methanol, Country Outlook (Revenue - USD Million, 2019 - 2032)

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

Europe Renewable Methanol Market Report Scope