Asia Pacific Chemical Blue Hydrogen Market Size - By Technology (Steam Methane Reforming, Autothermal Reforming, Partial Oxidation), Country Outlook & Forecast, 2024 – 2032

Asia Pacific Chemical Blue Hydrogen Market Size

Asia Pacific Chemical Blue Hydrogen Market was valued at USD 227.2 million in 2023 and is anticipated to grow at a CAGR of 9.8% from 2024 to 2032.

Stringent regulations promoting emission reduction will incentivize the adoption of cleaner hydrogen production methods. Growing demand from industries reliant on hydrogen for various processes, including petrochemicals and ammonia production will stimulate the product demand. Furthermore, rising awareness about climate change and the need for cleaner energy sources will accelerate the adoption of blue hydrogen as a low-carbon alternative.
 

Asia Pacific Chemical Blue Hydrogen Market Trends

Rising demand for clean energy alternatives by businesses aiming to cut carbon emissions and meet strict environmental regulations will augment the industry scenario. Rising partnerships and collaborations between industry players to leverage each other's expertise and resources to accelerate the development and deployment of clean technologies will enhance the market growth.
 

Increasing business investments in the CCS projects along with ongoing development of efficient carbon capture solutions to enhance sustainability will accelerate the deployment of blue hydrogen projects. Further, ongoing advancements in hydrogen technologies including electrolysis and steam methane reforming with carbon capture to reduce production costs and enhance the overall efficiency will boost the product demand.
 

Asia Pacific Chemical Blue Hydrogen Market Analysis

Based on technology, the Asia Pacific chemical blue hydrogen industry is segmented into steam methane reforming, autothermal reforming, and partial oxidation. Steam methane reforming is anticipated to reach USD 428.1 million by 2032. The region's abundant reserves of natural gas make it an attractive location for SMR facilities. Countries including Australia, Indonesia, and Malaysia possess substantial natural gas resources, providing a reliable and cost effective feedstock for SMR based hydrogen production.
 

The technology is favored for hydrogen production owing to its high conversion efficiency, typically ranging from 70% to 80%, making it a cost-effective and reliable method for large-scale production. Furthermore, it provides scalability and versatility, allowing for the adjustment of production capacity to meet changing demand levels. This flexibility makes the technology suitable for a wide range of applications across different industries, including petrochemicals, refining, and transportation thereby boosting the business potential.
 

Australia chemical blue hydrogen market is likely to exceed USD 150.2 million by 2032. Australia's vast natural gas reserves and status as a top LNG exporter will facilitate cost-effective clean energy production through SMR. Government support initiatives and policies favoring renewables and clean tech, along with incentives for CCS projects will foster a conducive growth environment.
 

Country robust R&D ecosystem, featuring top universities and institutions to enhance blue hydrogen production efficiency and cost-effectiveness will boost market growth and competitiveness. In addition, Australia's participation in global hydrogen initiatives, including the Hydrogen Energy Supply Chain (HESC) project with Japan, opens up opportunities for market growth, knowledge sharing, and investment attraction. These international collaborations establish Australia as a leader in blue hydrogen production and export, providing access to new markets and reinforcing its position as a key contributor to the global hydrogen economy.
 

Asia Pacific Chemical Blue Hydrogen Market Share

Eminent players across the industry are investing significantly in research and development activities to enhance the existing technology and optimize production processes. Companies are focusing on advancing steam methane reforming (SMR) technologies, improving carbon capture and storage (CCS) methods, and exploring innovative approaches to increase efficiency and reduce costs. Furthermore, investment in infrastructure development is critical to increase production capacity and meet the rising demand. Companies are investing in hydrogen production facilities, upgrading existing infrastructure, and establishing supply chain networks to ensure that blue hydrogen is delivered reliably and efficiently to customers throughout the region.
 

Asia Pacific Chemical Blue Hydrogen Market Companies

Eminent players operating in the Asia Pacific chemical blue hydrogen industry include:

• Air Products and Chemicals, Inc.
• Air Liquide
• Bechtel Corporation
• BP p.l.c.
• Exxon Mobil Corporation
• Equinor ASA
• ENGIE SA
• Hyundai Heavy Industries Holdings
• Linde plc
• Petronas
• Reliance Industries Limited
• Shell plc
• Saudi Aramco
• Technip Energies N.V
   

Asia Pacific Chemical Blue Hydrogen Industry News

• In July 2023, French industrial gases company Air Liquide has obtained a USD 69.2 million loan from BNP Paribas for constructing two blue hydrogen facilities in Shanghai Chemical Industry Park, China. Expected to be completed by year-end, these units, managed by Air Liquide's subsidiary SCIPIG, will collectively produce 70,000 normal cubic meters per hour of hydrogen. The green loan acknowledges Air Liquide's commitment to executing projects that meet stringent environmental criteria.
   
• In November 2022, Inpex Corp, a Japanese oil and gas explorer, revealed plans to build facilities in Kashiwazaki, northern Japan, for hydrogen and ammonia production using locally sourced natural gas. Targeting an annual output of 700 tonnes of "blue hydrogen" by 2025, emissions will be curbed through carbon dioxide capture and storage (CCS) technology.
   

This Asia Pacific Chemical blue hydrogen market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “MT & USD Million” from 2021 to 2032, for the following segments:

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Market, By Technology

• Steam methane reforming
• Autothermal reforming
• Partial oxidation

The above information has been provided for the following countries:

• China
• Japan
• India
• Australia