Green Methanol Brings Carbon-Neutral Green Economy into Motion

With a growing emphasis on sustainable and low-carbon and sustainable fuel sources, green methanol has gained major attraction in the last few years. Companies are becoming increasingly interested in green methanol as it is a zero-carbon emission fuel and are increasing their investment in renewable energy and the green economy.?

Today, methanol is one of the most important raw materials and is one of the most widely produced organic chemicals in the chemical industry.??

As far as sustainability is concerned, the carbon-neutral production of green methanol on an industrial scale can make a significant contribution to the energy transition since conventional methanol production from natural gas releases a significant amount of fossil greenhouse gases.??

Let’s move further to check the qualities of green methanol.

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What is green methanol??

Green methanol is produced from a variety of renewable energy sources such as biomass, including forestry and agricultural waste, sewage, biogas, municipal solid waste, carbon dioxide, black liquor from the pulp and paper industry, and green hydrogen produced with renewable electricity.?

Methanol is produced from various sources, such as bio-methanol is produced from biomass. Similarly, e-methanol is produced from green hydrogen, CO2, and renewable electricity.???

The growth of the green methanol market has increased with the growing demand for green methanol as a clean and sustainable fuel source.??

According to a report by BIS Research, the global green methanol market is expected to reach $3.14 billion by 2031 from $122.35 million in 2021, growing at a CAGR of 39.63% during the forecast period 2022-2031.?

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Why is green methanol gaining popularity as a green fuel source??

In the chemical industry, methanol is mainly used to produce methanol-to-olefins (MTO), formaldehyde, methyl tert-butyl ether (MTBE), dimethyl ether (DME), etc.??

The conventionally produced methanol results in high carbon emissions during the production process; however, green methanol that is based on green hydrogen and captured carbon dioxide or from biomass-based industrial flue gas increases the prospect of a carbon-neutral industrial system.??

Green methanol is used as fuel in many applications to meet the growing energy demand around the world for cars, trucks, marine vessels, boilers, kilns, and others.?

Methanol’s usefulness lies in its ability to be manufactured from various feedstock sources, which include natural gas, waste, and captured carbon dioxide combined with green hydrogen.??

Other major factors driving the growth of the green methanol market are the growing demand for sustainable and green fuel sources, investment from the government and private sector companies toward renewable energy, and emphasis from the International Maritime Organization (IMO) on decarbonizing the maritime industry.?

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How does carbon capture technology incorporate the green methanol market??

Pre-combustion capture involves the removal of carbon dioxide from fossil fuels before combustion is completed. At the same time, the post-combustion technique refers to the capture of carbon dioxide from waste gas streams produced after the combustion of fossil fuels.??

Mainly, the post-combustion carbon capture method is used for utilizing the carbon dioxide from waste streams for an e-methanol generation.?

Green methanol generation is highly dependent on carbon capture and storage (CCS) technologies, which are part of its corporate ambition.??

According to the International Energy Agency (IEA), strengthened climate goals and new investment incentives are delivering unprecedented momentum for carbon capture and storage (CCS). Therefore, the green methanol market is projected to grow with the growing adoption of advanced carbon capture technologies with high CO2 capture efficiencies and decreasing prices of CCS technology.?

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Conclusion

Growing demand for green methanol has led to an increasing number of project announcements for green methanol around the globe. The application of green methanol is increasing globally due to its ability to reduce harmful emissions, versatile production capability, and affordable adoption capabilities, which as a result, may generate huge demand for green methanol in the forecast period 2022-2031 to generate a green economy.??

The green economy is based on renewable green methanol; the green methanol market is expected to register continuous growth owing to the growing demand for sustainable energy sources, rising green methanol demand from the maritime industry, and investment from the government toward green and sustainable technologies.?

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