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Asia Pacific Chemical Blue Hydrogen Market Size

Report ID: GMI9328
Published Date: May 2024
Report Format: PDF

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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.

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Chemical Blue Hydrogen Market Size in 2023:	USD 227.2 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	9.8%
2032 Value Projection:	USD 705.3 Million
Historical Data for:	2021 to 2023
No. of Pages:	80
Tables, Charts & Figures:	100
Segments covered:	Technology and Country
Growth Drivers:	Government support and incentives Rising hydrogen demand across industrial sector Rising energy security and independence
Pitfalls & Challenges:	High initial capital investment High technical and economic challenges

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Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of Asia Pacific chemical blue hydrogen was reached USD 227.2 million in 2023 and is anticipated to grow at 9.8% CAGR from 2024 to 2032, driven by rising hydrogen demand across industrial sector.

The steam methane reforming segment in the Asia Pacific chemical blue hydrogen industry is anticipated to exceed USD 428.1 million by 2032, owing to the region's abundant reserves of natural gas.

Australia chemical blue hydrogen market is anticipated to surpass USD 150.2 million by 2032, attributed to robust R&D ecosystem, featuring top universities and institutions to enhance blue hydrogen production efficiency and cost-effectiveness.

Exxon Mobil Corporation, Equinor ASA, ENGIE SA, Hyundai Heavy Industries Holdings, Linde plc, Petronas, Reliance Industries Limited, Shell plc, Saudi Aramco, and Technip Energies N.V among others.