Vietnam Renewable Methanol Market Size, Share, Trends and Forecast by Feedstock, Application, End Use Industry, and Region, 2025-2033

Vietnam Renewable Methanol Market Overview:

The Vietnam renewable methanol market size reached USD 15.20 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 23.06 Million by 2033, exhibiting a growth rate (CAGR) of 4.74% during 2025-2033. The market is driven by the government's ambitious renewable energy targets and the country's commitment to achieving net-zero emissions by 2050. Growing industrial demand from the chemicals and transportation sectors, coupled with increasing environmental awareness and supportive regulatory frameworks, is propelling market expansion. The rising adoption of cleaner fuel alternatives and substantial foreign investments in renewable energy infrastructure further contributing to the Vietnam renewable methanol market share.

Vietnam Renewable Methanol Market Trends:

Government Policy Support and Regulatory Framework

Vietnam’s renewable methanol market is receiving a major boost from comprehensive government initiatives and supportive policies. The Ministry of Industry & Trade’s December 2024 directive to expand fuel ethanol usage demonstrates strong commitment to renewable fuels, while the July 2024 decree enabling Direct Power Purchase Agreements (DPPAs) between private renewable energy producers and consumers creates new opportunities for methanol production. These regulatory measures align with Vietnam’s National Energy Development Strategy, which targets renewable energy to account for 15–20% of total primary energy supply by 2030 and 65–70% by 2045. The government’s ambitious renewable energy goals attract substantial foreign investment, facilitating the establishment of advanced renewable methanol production facilities. Together, these Vietnam renewable methanol market trends reflect the country's strategic approach to energy transition and environmental sustainability.

Foreign Investment and Infrastructure Development

Vietnam's renewable methanol industry is growing quickly, driven by aggressive foreign investment in renewable energy infrastructure and technology transfer. A strong economic growth rate, combined with electricity demand increasing more than double in the last decade, presents favorable opportunities for the development of renewable energy. Strategic global partnerships, such as recent ones between U.S. leaders in the ethanol industry and Vietnamese petroleum distributors, are facilitating technology transfer and fueling market development. Sophisticated production plants, supported by foreign direct investment and technical support, are enhancing Vietnam's ability to manufacture renewable methanol from varied feedstocks, including agricultural waste and municipal solid waste. Such projects not only develop the domestic renewable methanol sector but also establish Vietnam as a new player in the world market, advancing decarbonization, adoption of sustainable energy, and compliance with global climate and sustainability norms.

Industrial Demand and Supply Chain Decarbonization

The growing demand from key industrial sectors, particularly chemicals and transportation, is driving Vietnam renewable methanol market growth. Major global companies in Vietnam, such as Nike, Samsung, and Lego, are actively pursuing renewable energy solutions to decarbonize their supply chains, driving demand for clean fuels like renewable methanol. The transportation sector is also increasingly shifting toward sustainable fuels, supported by government regulations and international climate commitments, which boosts renewable methanol use as a marine fuel and fuel additive. Additionally, the chemical industry is adopting renewable methanol as a sustainable feedstock alternative to reduce carbon emissions and comply with global sustainability standards. Together, these trends create strong market growth, as both industrial and transportation sectors increasingly prioritize low-carbon solutions, positioning renewable methanol as a key component in Vietnam’s energy transition and decarbonization efforts.

Vietnam Renewable Methanol Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on feedstock, application, and end use industry.

Feedstock Insights:

• Agricultural Waste
• Forestry Residues
• Municipal Solid Waste
• Co2 Emissions
• Others

The report has provided a detailed breakup and analysis of the market based on the feedstock. This includes agricultural waste, forestry residues, municipal solid waste, Co2 emissions, and others.

Application Insights:

• Formaldehyde
• Dimethyl Ether (DME) and Methyl tert-Butyl Ether (MTBE)
• Gasoline
• Solvents
• Others

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes formaldehyde, dimethyl ether (DME) and methyl tert-butyl ether (MTBE), gasoline, solvents, and others.

End Use Industry Insights:

• Chemicals
• Transportation
• Power Generation
• Others

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes chemicals, transportation, power generation, and others.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Renewable Methanol Market News:

• In January 2025, PetroVietnam Gas (PV GAS) will pilot small-scale green hydrogen production in southeast Vietnam to serve industrial and transport sectors, supporting the nation’s 2030–2050 hydrogen strategy. Leveraging existing gas infrastructure, PV GAS aims to produce, transport, and export green hydrogen derivatives like ammonia, methanol, and e-methane. The project, funded through a PPP with Germany and partnerships with JICA and tech providers, faces challenges from high costs and fossil fuel reliance, requiring close government and industry collaboration.

Vietnam Renewable Methanol Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam renewable methanol market performed so far and how will it perform in the coming years?
• What is the breakup of the Vietnam renewable methanol market on the basis of feedstock?
• What is the breakup of the Vietnam renewable methanol market on the basis of application?
• What is the breakup of the Vietnam renewable methanol market on the basis of end use industry?
• What is the breakup of the Vietnam renewable methanol market on the basis of region?
• What are the various stages in the value chain of the Vietnam renewable methanol market?
• What are the key driving factors and challenges in the Vietnam renewable methanol market?
• What is the structure of the Vietnam renewable methanol market and who are the key players?
• What is the degree of competition in the Vietnam renewable methanol market?

Key Benefits for Stakeholders:

• IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam renewable methanol market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam renewable methanol market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam renewable methanol industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.