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Asia Pacific Chemical Blue Hydrogen Market Trends

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

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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.

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.