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Report Overview
Europe renewable methanol market attained a volume of 103.99 KMT in 2023. The market is estimated to grow at a CAGR of 47.87% during 2024-2032 to reach a volume of 2,528.34 KMT by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- As per industry reports, 20 pounds of methanol is used for every 100 pounds of biodiesel production.
- In 2022, global biodiesel production was nearly 52 million tonnes, with the European Union (excluding the UK) accounting for the largest share of around 25% of the total global output, amounting to around 13.7 million tonnes.
- Methanol produced from natural gas represents a 10-15% reduction in carbon dioxide emissions compared to traditional marine fuels. Ships at ports such as Rotterdam and Port of Gothenburg have started using methanol marine fuel.
Competitive Landscape of Europe Renewable Methanol Market
In the Europe renewable methanol market, companies strive to maintain a low-cost structure to stay competitive. They also focus on timely product delivery, forming partnerships with logistics firms, and ensuring a consistent supply of renewable feedstocks.
Key Industry Players
Methanex Corporation is one of the world’s leading producer and supplier of methanol to major international markets in Asia Pacific, North America, Europe and South America. The company has methanol production sites located in the United States, New Zealand, Trinidad and Tobago, Chile, Egypt and Canada. In 2023, the company produced 6.6 million tons of methanol, an increase of 0.5 million tons as compared to 2022.
Proman AG. is primarily engaged in dealing with natural gas derived products and services. Founded in 1984, The company has methanol and fertilizer production facilities located across Trinidad and Tobago, the United States and Oman and is also expanding into Mexico. Proman operates 17 petrochemicals facilities globally, in addition, the company operates 16 vessels, out of which 5 are methanol powered.
Saudi Basic Industries Corporation was founded in 1976 and is headquartered in Riyadh, Saudi Arabia. SABIC is one of the leaders in chemical manufacturing. The company operates across multiple business verticals which comprises of chemicals, polymers, specialties, agri-nutrients, and metals.
OCI N.V. is a leading producer and distributor of nitrogen, methanol and hydrogen products founded in 2013. The company operates with three different verticals which include OCI Nitrogen, OCI Methanol, and OCI corporate. In September 2024, Methanex Corporation announced to acquire OCI methanol business in a USD 2.05 billion deal.
Other Europe renewable methanol market players include Mitsubishi Gas Chemical Europe GmbH, Mitsui & Co., Ltd, and LyondellBasell Industries N.V., among others.
Europe Renewable Methanol Market Report Snapshots
Europe Renewable Methanol Market Size
Europe Renewable Methanol Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The Europe renewable methanol market reached a volume of 103.99 KMT in 2023.
The market is projected to grow at a CAGR of 47.87% between 2024 and 2032.
The Europe renewable methanol market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of 2,528.34 KMT by 2032.
The feedstocks include biomass, CO2, and hydrogen.
The key countries analysed in the market report are the United Kingdom, Nordics, Germany, France, and others.
Europe’s aim to achieve a carbon neutral economy and favourable government initiatives, and the presence of abundant reserves of feedstocks for renewable methanol production are driving the market growth.
The applications include dimethyl ether (DME), methyl tert-butyl ether (MTBE), gasoline blending, and others.
The key players in the market are Methanex Corporation, Proman AG, Saudi Basic Industries Corporation, OCI N.V., Mitsubishi Gas Chemical Europe GmbH, Mitsui & Co., Ltd, and LyondellBasell Industries N.V., among others.
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