The Global Methanol Alternative Fuel Market was valued at USD 4.21 Billion in 2023 and is projected to reach USD 7.85 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period (2024–2030). This robust growth is primarily driven by stringent global emission regulations, the push for marine decarbonization through methanol-capable vessels, and increasing adoption in the automotive sector as a cleaner-burning alternative to conventional fuels.

As the world accelerates its shift toward sustainable energy, methanol is emerging as a pivotal alternative fuel due to its lower carbon intensity, versatility, and existing distribution infrastructure. In this blog, we profile the Top 10 Companies in the Methanol Alternative Fuel Industry—a diverse mix of chemical producers, energy majors, and automotive innovators who are building the foundation for a methanol-based economy.

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🔟 1. Methanex Corporation

Headquarters: Vancouver, British Columbia, Canada
Key Offering: Conventional Methanol, Renewable Methanol

Methanex is the world’s largest producer and supplier of methanol, with a significant stake in the alternative fuel market. The company is actively promoting methanol as a marine fuel and is investing in low-carbon and renewable methanol production pathways to support decarbonization goals across the transportation sector.

Sustainability Initiatives:

• Leadership in the Methanol Institute, advocating for methanol as a clean fuel

• Investment in bio-methanol and e-methanol production technologies

• Strategic partnerships with shipowners for methanol bunkering projects

Download FREE Sample Report:
Methanol Alternative Fuel Market – View in Detailed Research Report

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9️⃣ 2. Zhejiang Geely Holding Group

Headquarters: Hangzhou, Zhejiang, China
Key Offering: Methanol-fueled Vehicles, M100 Methanol Technology

Geely is a global automotive leader and a pioneer in methanol vehicle technology. Through its subsidiary, Geely Auto, the company has deployed thousands of methanol-powered cars and taxis in China and is advancing research into next-generation methanol engines and fuel systems.

Sustainability Initiatives:

• Largest fleet of methanol vehicles in operation globally

• Development of clean methanol production from CO2 capture

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8️⃣ 3. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Methanol Catalysts, Syngas Technologies

BASF is a key enabler of the methanol fuel value chain through its advanced catalyst technologies. The company’s catalysts are critical for efficient methanol production from various feedstocks, including natural gas, biomass, and captured carbon, supporting the industry’s shift toward sustainable production.

Sustainability Initiatives:

• Development of catalysts for CO2-to-methanol conversion

• Partnerships for scaling up green methanol production

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7️⃣ 4. Mitsubishi Gas Chemical Company, Inc.

Headquarters: Tokyo, Japan
Key Offering: High-Purity Methanol, MMA Monomer

Mitsubishi Gas Chemical is a major methanol producer with a focus on high-purity grades suitable for fuel applications. The company is exploring the use of methanol in fuel cells and as a hydrogen carrier, positioning itself at the forefront of advanced methanol energy systems.

Sustainability Initiatives:

• R&D into methanol-to-hydrogen systems for mobility

• Initiatives for carbon-neutral methanol supply chains

Download FREE Sample Report:
Methanol Alternative Fuel Market – View in Detailed Research Report

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6️⃣ 5. OCI Global

Headquarters: Amsterdam, Netherlands
Key Offering: Bio-Methanol, Green Methanol

OCI Global is a leading methanol producer with a strong commitment to sustainable fuels. The company is a major supplier of bio-methanol and is investing heavily in green methanol projects in the US and Europe to meet the rising demand from the marine and road transport sectors.

Sustainability Initiatives:

• Production of bio-methanol from sustainable feedstocks

• Partnerships with shipping companies for green methanol bunkering

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5️⃣ 6. Proman AG

Headquarters: Zug, Switzerland
Key Offering: Methanol, Methanol-Based Fuel Blends

Proman is a global leader in methanol production and a vocal advocate for methanol as a clean-burning marine fuel. The company is actively involved in building methanol bunkering infrastructure and promoting the adoption of methanol-powered vessels worldwide.

Sustainability Initiatives:

• Investing in carbon-neutral methanol production facilities

• Collaboration with classification societies and shipbuilders

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4️⃣ 7. LyondellBasell Industries N.V.

Headquarters: Houston, Texas, USA
Key Offering: Methanol, Polyolefins, Chemical Intermediates

As one of the world’s largest plastics, chemicals, and refining companies, LyondellBasell is a significant methanol consumer and participant in the alternative fuel ecosystem. The company’s methanol assets support the production of cleaner fuels and chemical feedstocks.

Sustainability Initiatives:

• Exploring circular and renewable feedstocks for methanol production

• Commitment to net-zero emissions from operations by 2050

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3️⃣ 8. SABIC (Saudi Basic Industries Corporation)

Headquarters: Riyadh, Saudi Arabia
Key Offering: Methanol, Petrochemicals

SABIC is a global petrochemicals giant with substantial methanol production capacity. The company is investigating the role of methanol in the energy transition, particularly as a hydrogen carrier and a fuel for industrial applications, leveraging its large-scale manufacturing expertise.

Sustainability Initiatives:

• Research into blue and green ammonia and methanol production

• Carbon capture and utilization projects for synthetic fuel production

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2️⃣ 9. Methanol Holdings (Trinidad) Limited (MHTL)

Headquarters: Point Lisas, Trinidad and Tobago
Key Offering: Methanol, Ammonia

MHTL operates one of the largest methanol production complexes in the world. The company is a key supplier to the global market and is exploring pathways to reduce the carbon footprint of its methanol, aligning with international climate goals and customer demand for lower-carbon fuels.

Sustainability Initiatives:

• Assessment of carbon capture and storage for existing assets

• Evaluation of renewable hydrogen for green methanol

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1️⃣ 10. Carbon Recycling International (CRI)

Headquarters: Reykjavik, Iceland
Key Offering: Emissions-to-Liquids™ Technology, Renewable Methanol (Vulcanol®)

CRI is a technology pioneer specializing in the production of renewable methanol from captured carbon dioxide and hydrogen. Its Vulcanol® product is a drop-in fuel used in transportation, demonstrating a commercially viable pathway to circular carbon utilization.

Sustainability Initiatives:

• World’s first commercial-scale CO2-to-methanol plant

• Partnerships to deploy its technology globally for waste CO2 valorization

Get Full Report Here:
Methanol Alternative Fuel Market – View in Detailed Research Report

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🌍 Outlook: The Future of Methanol Fuel Is Sustainable and Scalable

The methanol alternative fuel market is at a pivotal juncture. While conventional methanol production currently dominates, the industry is rapidly pivoting toward renewable and low-carbon methanol to meet decarbonization targets in hard-to-abate sectors like shipping and heavy-duty transport.

📈 Key Trends Shaping the Market:

• Accelerating green methanol project announcements in Europe and Asia

• Stringent IMO and regional regulations mandating cleaner marine fuels

• Growing investment in methanol bunkering infrastructure at major ports

• Advancements in methanol-to-power and methanol fuel cell technologies

Get Full Report Here:
Methanol Alternative Fuel Market – View in Detailed Research Report

The companies profiled above are not only supplying methanol—they are actively constructing the sustainable infrastructure necessary to power the next generation of clean transportation.