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Asia Pacific Captive Petroleum Refinery Hydrogen Generation Market Size

Report ID: GMI11596
Published Date: Sep 2024
Report Format: PDF

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Asia Pacific Captive Petroleum Refinery Hydrogen Generation Market Size

Asia Pacific captive petroleum refinery hydrogen generation market size was valued USD 18.6 billion in 2023 and is anticipated to grow at a CAGR of 6.7% between 2024 and 2032. It refers to on-site generation of hydrogen specifically for use within a petroleum refinery.

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Hydrogen is produced through processes such as steam methane reforming or electrolysis to meet the refinery's requirements for various operations, including desulfurization and hydrocracking. This method enables refineries to generate hydrogen independently, reducing reliance on external suppliers and ensuring a consistent supply for their processes.

Asia Pacific Captive Petroleum Refinery Hydrogen Generation Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Captive Petroleum Refinery Hydrogen Generation Market Size in 2023:	USD 18.6 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.7%
2032 Value Projection:	USD 32.7 Billion
Historical Data for:	2021 - 2023
No. of Pages:	50
Tables, Charts & Figures:	20
Segments covered:	Process and Country
Growth Drivers:	Environmental Regulations Advancements in hydrogen production technologies
Pitfalls & Challenges:	Limited hydrogen infrastructure

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Rising pressure on refiners to meet stringent environmental regulations aimed at reducing carbon emissions will augment on-site clean fuel process adoption. Increasing process demand to reduce clean fuel production costs by eliminating transportation costs and minimizing the impact of fluctuating market prices will foster industry growth.

Increasing investments in developing advanced technology, particularly in electrolysis and steam methane reforming (SMR) for enhancing the feasibility of captive hydrogen generation will bolster market growth. Additionally, these innovations are making the process more efficient and economical allowing refineries to optimize their hydrogen production processes, further incentivizing captive generation.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market was valued at USD 18.6 billion in 2023 and is anticipated to grow at a CAGR of 6.7% from 2024 to 2032, reaching USD 32.7 billion by 2032.

Electrolysis is projected to grow by more than USD 3 billion by 2032 due to advancements in technology, government incentives, and investments in hydrogen infrastructure.

China's market is expected to exceed USD 13 billion by 2032. The shift from coal-dependent processes to cleaner alternatives, driven by industrial upgrades and increasing domestic demand for clean energy.

Key industry players include Air Products and Chemicals, Air Liquide, BASF, Chennai Petroleum Corporation, Emerson, Fluor Corporation, GAIL Limited, Mangalore Refinery and Petrochemicals, Next Hydrogen, Nel Hydrogen, and Technip Energies.