Europe E-methanol Market Assessment, By Energy Source [Solar, Hydro, Wind, Others], By Application [Chemical Feedstock, Marine Fuel, Power Generation, Others], By Region, Opportunities and Forecast, 2016-2030F
Europe e-methanol market size was valued at USD 13.1 million in 2022, which is expected to grow to USD 98.5 million in 2030, with a CAGR of 28.7% during the forecast period between 2023 and 2030. Europe's ambitious environmental targets, notably striving for carbon neutrality by 2050, have driven the demand for e-methanol as an environmentally friendly and carbon-neutral fuel. This surge in demand has been supported by a regulatory framework featuring incentives, subsidies, and other forms of governmental backing, all aimed at motivating businesses and individuals to opt for this sustainable energy alternative.
Furthermore, the strong emphasis on transitioning to renewable energy sources has significantly increased interest in e-methanol. Its production utilizing renewable energy resources aligns seamlessly with Europe's broader objective of reducing carbon emissions and achieving a cleaner and more sustainable energy portfolio.
Moreover, the versatility of e-methanol allows its integration into various sectors, including transportation, power generation, and chemical manufacturing. The transportation sector, a major contributor to carbon emissions, sees e-methanol as a viable solution for reducing its environmental impact. E-methanol can be utilized in existing engines and fuel systems with minor modifications, enhancing its appeal and ease of adoption.
Furthermore, strategic partnerships and collaborations foster a conducive environment for the growth of the e-methanol market. These partnerships involve governments, research institutions, and industry players, accelerating knowledge sharing and technology transfer, ultimately driving innovation and adoption.
Adoption of E-methanol as a Shipping Fuel in Europe to Raise the Demand
E-methanol stands as a versatile and sustainable marine fuel, easily integrable into current ship engines and fuel systems with minor adjustments. This adaptability lowers the entry barrier and expedites the maritime sector's transition towards eco-friendly fuel alternatives. Given the international scope of the maritime industry, the need for globally adoptable sustainable fuel solutions is paramount, e-methanol precisely meets this requirement, presenting the potential to revolutionize the maritime sector worldwide, effectively addressing both local and global environmental challenges.
For instance, in July 2023, Maersk marked a significant milestone by receiving the world's first inaugural dual-fuel methanol containership from Hyundai Mipo Shipyard in South Korea. Remarkably, this delivery transpired a mere two years following the pioneering order. Consequently, the global orderbook for methanol-fuelled containerships has surged, exceeding an impressive count of 100 vessels.
Stringent Regulations and Ambitious Goals to Increase E-methanol Demand in Europe
European nations are vigorously enforcing regulations to promote the uptake of e-methanol as it is a carbon-neutral fuel. Incentives, subsidies, and tax benefits drive demand among businesses and consumers, aligning with Europe's goal of carbon neutrality by reducing the carbon footprint through e-methanol production and consumption.
For instance, the European Green Deal aims to achieve climate neutrality in Europe by 2050, representing one facet of the continent's ambitious climate targets. E-methanol is produced using renewable energy and emitting zero CO2 during combustion, aligning with these ambitious goals providing a means to decarbonize various industries such as transportation, industry, power generation, and the manufacturing of chemicals. The resonance with ambitious objectives fosters a burgeoning demand for e-methanol in Europe.
Application of E-methanol as a Hydrogen carrier to Increase demand for e-methanol in Europe
Within various industrial operations such as chemical production and hydrocarbon refining, e-methanol demonstrates significant potential as a carrier for transporting hydrogen, aligning perfectly with Europe's focus on utilizing green hydrogen. European industries can smoothly transit to green hydrogen by leveraging e-methanol as a hydrogen carrier, necessitating minimal modifications to their existing processes. The e-methanol production process involves electrolyzing water to obtain green hydrogen, rendering it an appealing choice for hydrogen storage and transportation. Considering the escalating demand for green hydrogen in sectors like transportation, chemical manufacturing, and power generation in Europe, e-methanol is an attractive option for efficient hydrogen transport and storage.
For instance, EU has taken a hydrogen objective, integral to the broader renewable energy directive, elevating the EU's mandatory target for renewables from 32% of the bloc's electricity by 2030 to 42.5%. While the ultimate objective is to attain 45% renewables by the conclusion of 2030.
Impact of COVID-19
The complex supply chains supporting manufacturing and renewable energy ventures in Europe faced significant disruptions during the pandemic. These disruptions resulted in delays in the timely completion and operational launch of e-methanol production facilities. The ongoing uncertainty due to the pandemic led investors to reassess and potentially delay their planned e-methanol projects, citing the unpredictable economic conditions. Additionally, market uncertainties and financial vulnerabilities might have prompted companies to postpone or scale down their initiatives in the growing e-methanol sector. The pandemic-induced reduction in economic activities and the subsequent decrease in energy demand had a noticeable impact on the requirements for e-methanol and the vitality of renewable energy projects essential for its production.
Impact of Russia-Ukraine War
European countries heavily relied on Russian crude for their energy requirements; however, the imposition of bans on Russian imports by multiple European nations due to the ongoing conflict altered the energy landscape on the continent. This resulted in heightened concerns about energy security in Europe, underlining the importance of embracing alternative energy sources such as e-methanol. The conflict underscores the pressing need to accelerate the transition to renewable and locally sourced energy options. Hence, e-methanol gained traction to reduce dependence on external energy sources, driving its demand across the continent.
Key Players Landscape and Outlook
Major European e-methanol manufacturers are significantly increasing their production capacities to cater to the surging demand for decarbonization initiatives and environmentally sustainable fuels. These strategic moves underscore their dedication to addressing the urgent need for greener energy solutions and align with global efforts to reduce carbon emissions. Moreover, it showcases their proactive approach to meeting the escalating market demands in Europe and fostering a sustainable energy landscape for the future.
For instance, European Energy embarked on a groundbreaking venture through the inauguration of the world’s first large-scale commercial e-methanol plant during January 2023. Situated in Kass?, this facility aims to advance the global freight industry's decarbonization efforts by generating 32,000 metric tonnes of carbon-neutral hydrocarbon-based fuels annually.
Furthermore, the strong emphasis on transitioning to renewable energy sources has significantly increased interest in e-methanol. Its production utilizing renewable energy resources aligns seamlessly with Europe's broader objective of reducing carbon emissions and achieving a cleaner and more sustainable energy portfolio.
Moreover, the versatility of e-methanol allows its integration into various sectors, including transportation, power generation, and chemical manufacturing. The transportation sector, a major contributor to carbon emissions, sees e-methanol as a viable solution for reducing its environmental impact. E-methanol can be utilized in existing engines and fuel systems with minor modifications, enhancing its appeal and ease of adoption.
Furthermore, strategic partnerships and collaborations foster a conducive environment for the growth of the e-methanol market. These partnerships involve governments, research institutions, and industry players, accelerating knowledge sharing and technology transfer, ultimately driving innovation and adoption.
Adoption of E-methanol as a Shipping Fuel in Europe to Raise the Demand
E-methanol stands as a versatile and sustainable marine fuel, easily integrable into current ship engines and fuel systems with minor adjustments. This adaptability lowers the entry barrier and expedites the maritime sector's transition towards eco-friendly fuel alternatives. Given the international scope of the maritime industry, the need for globally adoptable sustainable fuel solutions is paramount, e-methanol precisely meets this requirement, presenting the potential to revolutionize the maritime sector worldwide, effectively addressing both local and global environmental challenges.
For instance, in July 2023, Maersk marked a significant milestone by receiving the world's first inaugural dual-fuel methanol containership from Hyundai Mipo Shipyard in South Korea. Remarkably, this delivery transpired a mere two years following the pioneering order. Consequently, the global orderbook for methanol-fuelled containerships has surged, exceeding an impressive count of 100 vessels.
Stringent Regulations and Ambitious Goals to Increase E-methanol Demand in Europe
European nations are vigorously enforcing regulations to promote the uptake of e-methanol as it is a carbon-neutral fuel. Incentives, subsidies, and tax benefits drive demand among businesses and consumers, aligning with Europe's goal of carbon neutrality by reducing the carbon footprint through e-methanol production and consumption.
For instance, the European Green Deal aims to achieve climate neutrality in Europe by 2050, representing one facet of the continent's ambitious climate targets. E-methanol is produced using renewable energy and emitting zero CO2 during combustion, aligning with these ambitious goals providing a means to decarbonize various industries such as transportation, industry, power generation, and the manufacturing of chemicals. The resonance with ambitious objectives fosters a burgeoning demand for e-methanol in Europe.
Application of E-methanol as a Hydrogen carrier to Increase demand for e-methanol in Europe
Within various industrial operations such as chemical production and hydrocarbon refining, e-methanol demonstrates significant potential as a carrier for transporting hydrogen, aligning perfectly with Europe's focus on utilizing green hydrogen. European industries can smoothly transit to green hydrogen by leveraging e-methanol as a hydrogen carrier, necessitating minimal modifications to their existing processes. The e-methanol production process involves electrolyzing water to obtain green hydrogen, rendering it an appealing choice for hydrogen storage and transportation. Considering the escalating demand for green hydrogen in sectors like transportation, chemical manufacturing, and power generation in Europe, e-methanol is an attractive option for efficient hydrogen transport and storage.
For instance, EU has taken a hydrogen objective, integral to the broader renewable energy directive, elevating the EU's mandatory target for renewables from 32% of the bloc's electricity by 2030 to 42.5%. While the ultimate objective is to attain 45% renewables by the conclusion of 2030.
Impact of COVID-19
The complex supply chains supporting manufacturing and renewable energy ventures in Europe faced significant disruptions during the pandemic. These disruptions resulted in delays in the timely completion and operational launch of e-methanol production facilities. The ongoing uncertainty due to the pandemic led investors to reassess and potentially delay their planned e-methanol projects, citing the unpredictable economic conditions. Additionally, market uncertainties and financial vulnerabilities might have prompted companies to postpone or scale down their initiatives in the growing e-methanol sector. The pandemic-induced reduction in economic activities and the subsequent decrease in energy demand had a noticeable impact on the requirements for e-methanol and the vitality of renewable energy projects essential for its production.
Impact of Russia-Ukraine War
European countries heavily relied on Russian crude for their energy requirements; however, the imposition of bans on Russian imports by multiple European nations due to the ongoing conflict altered the energy landscape on the continent. This resulted in heightened concerns about energy security in Europe, underlining the importance of embracing alternative energy sources such as e-methanol. The conflict underscores the pressing need to accelerate the transition to renewable and locally sourced energy options. Hence, e-methanol gained traction to reduce dependence on external energy sources, driving its demand across the continent.
Key Players Landscape and Outlook
Major European e-methanol manufacturers are significantly increasing their production capacities to cater to the surging demand for decarbonization initiatives and environmentally sustainable fuels. These strategic moves underscore their dedication to addressing the urgent need for greener energy solutions and align with global efforts to reduce carbon emissions. Moreover, it showcases their proactive approach to meeting the escalating market demands in Europe and fostering a sustainable energy landscape for the future.
For instance, European Energy embarked on a groundbreaking venture through the inauguration of the world’s first large-scale commercial e-methanol plant during January 2023. Situated in Kass?, this facility aims to advance the global freight industry's decarbonization efforts by generating 32,000 metric tonnes of carbon-neutral hydrocarbon-based fuels annually.
1. RESEARCH METHODOLOGY
2. PROJECT SCOPE & DEFINITIONS
3. IMPACT OF COVID-19 ON EUROPE E-METHANOL MARKET
4. IMPACT OF RUSSIA-UKRAINE WAR
5. EXECUTIVE SUMMARY
6. VOICE OF CUSTOMER
6.1. Market Awareness and Product Information
6.2. Brand Awareness and Loyalty
6.3. Factors Considered in Purchase Decision
6.3.1. Brand Name
6.3.2. Quality
6.3.3. Quantity
6.3.4. Price
6.3.5. Product Specification
6.3.6. Application Specification
6.3.7. Availability of Product
6.4. Frequency of Purchase
6.5. Medium of Purchase
7. EUROPE E-METHANOL MARKET OUTLOOK, 2016-2030F
7.1. Market Size & Forecast
7.1.1. By Value
7.1.2. By Volume
7.2. By Energy Source
7.2.1. Solar
7.2.2. Hydro
7.2.3. Wind
7.2.4. Others
7.3. By Application
7.3.1. Chemical Feedstock
7.3.1.1. Formaldehyde
7.3.1.2. Acetic acid
7.3.1.3. Methyl tert-Butyl Ether (MTBE)
7.3.1.4. Dimethyl Ether (DME)
7.3.1.5. Kerosene
7.3.1.6. Gasoline
7.3.1.7. Solvents
7.3.1.8. Others
7.3.2. Marine Fuel
7.3.3. Power Generation
7.3.4. Others
7.4. By Region
7.4.1. Germany
7.4.2. Denmark
7.4.3. Sweden
7.4.4. France
7.4.5. Italy
7.4.6. United Kingdom
7.4.7. Netherlands
7.4.8. Norway
7.5. By Company Market Share (%), 2022
8. EUROPE GREEN AMMONIA MARKET OUTLOOK, BY REGION, 2016-2030F
8.1. Germany*
8.1.1. Market Size & Forecast
8.1.1.1. By Value
8.1.1.2. By Volume
8.1.2. By Energy Source
8.1.2.1. Solar
8.1.2.2. Hydro
8.1.2.3. Wind
8.1.2.4. Others
8.1.3. By Application
8.1.3.1. Chemical Feedstock
8.1.3.1.1. Formaldehyde
8.1.3.1.2. Acetic acid
8.1.3.1.3. Methyl tert-Butyl Ether (MTBE)
8.1.3.1.4. Dimethyl Ether (DME)
8.1.3.1.5. Kerosene
8.1.3.1.6. Gasoline
8.1.3.1.7. Solvents
8.1.3.1.8. Others
8.1.3.2. Marine Fuel
8.1.3.3. Power Generation
8.1.3.4. Others
*All segments will be provided for all regions covered
8.2. Denmark
8.3. Sweden
8.4. France
8.5. Italy
8.6. United Kingdom
8.7. Netherlands
8.8. Norway
9. SUPPLY SIDE ANALYSIS
9.1. Capacity, By Company
9.2. Production, By Company
9.3. Operating Efficiency, By Company
9.4. Key Plant Locations (Up to 25)
10. MARKET MAPPING, 2022
10.1. By Energy Source
10.2. By Application
10.3. By Region
11. MACRO ENVIRONMENT AND INDUSTRY STRUCTURE
11.1. Supply Demand Analysis
11.2. Import Export Analysis – Volume and Value
11.3. Supply/Value Chain Analysis
11.4. PESTEL Analysis
11.4.1. Political Factors
11.4.2. Economic System
11.4.3. Social Implications
11.4.4. Technological Advancements
11.4.5. Environmental Impacts
11.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
11.5. Porter’s Five Forces Analysis
11.5.1. Supplier Power
11.5.2. Buyer Power
11.5.3. Substitution Threat
11.5.4. Threat from New Entrant
11.5.5. Competitive Rivalry
12. MARKET DYNAMICS
12.1. Growth Drivers
12.2. Growth Inhibitors (Challenges, Restraints)
13. KEY PLAYERS LANDSCAPE
13.1. Competition Matrix of Top Five Market Leaders
13.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2022)
13.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
13.4. SWOT Analysis (For Five Market Players)
13.5. Patent Analysis (If Applicable)
14. PRICING ANALYSIS
15. CASE STUDIES
16. KEY PLAYERS OUTLOOK
16.1. Orsted A/S
16.1.1. Company Details
16.1.2. Key Management Personnel
16.1.3. Products & Services
16.1.4. Financials (As reported)
16.1.5. Key Market Focus & Geographical Presence
16.1.6. Recent Developments
16.2. European Energy A/S
16.3. Topsoe A/S
16.4. Liquid Wind AB
16.5. Elyse Energy
16.6. Siemens Energy AG
16.7. BASF SE
16.8. Tractebel Engineering GmbH
16.9. Carbon Recycling International
16.10. Uniper SE
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.
17. STRATEGIC RECOMMENDATIONS
18. ABOUT US & DISCLAIMER
2. PROJECT SCOPE & DEFINITIONS
3. IMPACT OF COVID-19 ON EUROPE E-METHANOL MARKET
4. IMPACT OF RUSSIA-UKRAINE WAR
5. EXECUTIVE SUMMARY
6. VOICE OF CUSTOMER
6.1. Market Awareness and Product Information
6.2. Brand Awareness and Loyalty
6.3. Factors Considered in Purchase Decision
6.3.1. Brand Name
6.3.2. Quality
6.3.3. Quantity
6.3.4. Price
6.3.5. Product Specification
6.3.6. Application Specification
6.3.7. Availability of Product
6.4. Frequency of Purchase
6.5. Medium of Purchase
7. EUROPE E-METHANOL MARKET OUTLOOK, 2016-2030F
7.1. Market Size & Forecast
7.1.1. By Value
7.1.2. By Volume
7.2. By Energy Source
7.2.1. Solar
7.2.2. Hydro
7.2.3. Wind
7.2.4. Others
7.3. By Application
7.3.1. Chemical Feedstock
7.3.1.1. Formaldehyde
7.3.1.2. Acetic acid
7.3.1.3. Methyl tert-Butyl Ether (MTBE)
7.3.1.4. Dimethyl Ether (DME)
7.3.1.5. Kerosene
7.3.1.6. Gasoline
7.3.1.7. Solvents
7.3.1.8. Others
7.3.2. Marine Fuel
7.3.3. Power Generation
7.3.4. Others
7.4. By Region
7.4.1. Germany
7.4.2. Denmark
7.4.3. Sweden
7.4.4. France
7.4.5. Italy
7.4.6. United Kingdom
7.4.7. Netherlands
7.4.8. Norway
7.5. By Company Market Share (%), 2022
8. EUROPE GREEN AMMONIA MARKET OUTLOOK, BY REGION, 2016-2030F
8.1. Germany*
8.1.1. Market Size & Forecast
8.1.1.1. By Value
8.1.1.2. By Volume
8.1.2. By Energy Source
8.1.2.1. Solar
8.1.2.2. Hydro
8.1.2.3. Wind
8.1.2.4. Others
8.1.3. By Application
8.1.3.1. Chemical Feedstock
8.1.3.1.1. Formaldehyde
8.1.3.1.2. Acetic acid
8.1.3.1.3. Methyl tert-Butyl Ether (MTBE)
8.1.3.1.4. Dimethyl Ether (DME)
8.1.3.1.5. Kerosene
8.1.3.1.6. Gasoline
8.1.3.1.7. Solvents
8.1.3.1.8. Others
8.1.3.2. Marine Fuel
8.1.3.3. Power Generation
8.1.3.4. Others
*All segments will be provided for all regions covered
8.2. Denmark
8.3. Sweden
8.4. France
8.5. Italy
8.6. United Kingdom
8.7. Netherlands
8.8. Norway
9. SUPPLY SIDE ANALYSIS
9.1. Capacity, By Company
9.2. Production, By Company
9.3. Operating Efficiency, By Company
9.4. Key Plant Locations (Up to 25)
10. MARKET MAPPING, 2022
10.1. By Energy Source
10.2. By Application
10.3. By Region
11. MACRO ENVIRONMENT AND INDUSTRY STRUCTURE
11.1. Supply Demand Analysis
11.2. Import Export Analysis – Volume and Value
11.3. Supply/Value Chain Analysis
11.4. PESTEL Analysis
11.4.1. Political Factors
11.4.2. Economic System
11.4.3. Social Implications
11.4.4. Technological Advancements
11.4.5. Environmental Impacts
11.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
11.5. Porter’s Five Forces Analysis
11.5.1. Supplier Power
11.5.2. Buyer Power
11.5.3. Substitution Threat
11.5.4. Threat from New Entrant
11.5.5. Competitive Rivalry
12. MARKET DYNAMICS
12.1. Growth Drivers
12.2. Growth Inhibitors (Challenges, Restraints)
13. KEY PLAYERS LANDSCAPE
13.1. Competition Matrix of Top Five Market Leaders
13.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2022)
13.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
13.4. SWOT Analysis (For Five Market Players)
13.5. Patent Analysis (If Applicable)
14. PRICING ANALYSIS
15. CASE STUDIES
16. KEY PLAYERS OUTLOOK
16.1. Orsted A/S
16.1.1. Company Details
16.1.2. Key Management Personnel
16.1.3. Products & Services
16.1.4. Financials (As reported)
16.1.5. Key Market Focus & Geographical Presence
16.1.6. Recent Developments
16.2. European Energy A/S
16.3. Topsoe A/S
16.4. Liquid Wind AB
16.5. Elyse Energy
16.6. Siemens Energy AG
16.7. BASF SE
16.8. Tractebel Engineering GmbH
16.9. Carbon Recycling International
16.10. Uniper SE
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.
17. STRATEGIC RECOMMENDATIONS
18. ABOUT US & DISCLAIMER
