Asia Pacific Chemical Hydrogen Market Analysis

Asia Pacific Chemical Hydrogen Market Analysis

Based on type, the market is segmented into grey, blue, and green. The grey chemical hydrogen industry witnessed the growth of USD 21 billion by 2032. Grey hydrogen is produced from fossil fuels like natural gas or coal without carbon capture. Industries already equipped with infrastructure for natural gas or coal-based processes make it easier and cost effective along with key features including affordability and availability will favor the product adoption. Furthermore, extensive dependency on carbon intensive fuels coupled with consumer preferences and corporate sustainability goals will stimulate the business outlook.
 

Green chemical hydrogen application is set to expand at a rate of over 13% by the year 2032. Investments in hydrogen infrastructure, including electrolyzer manufacturing facilities, refueling stations, and transport in line with countries with abundant renewable energy resources will fuel the business statistics.
 

For instance, in October 2021, Air Liquide entered into a partnership with Total Energies & Vinci Group to set up a USD 1.7 billion support for the growth of low carbon & renewable hydrogen infrastructure. Additionally, continuous efforts by businesses to reduce emission from the energy sector through the development of advanced & sustainable technologies will drive the business outlook.
 

China chemical hydrogen market is forecasted to exceed USD 13 billion by 2032. Evolving regulatory landscape across numerous countries & regions, introduction of new projects, pilot studies & commercial partnerships combined with large scale adoption of energy efficiency targets will provide a foundation for the product penetration. For instance, in March 2023, Sinopec announced the largest green hydrogen project in the world in Ordos in Inner Mongolia, China for making chemicals from coal. Additionally, increasing cross border & sector strategic partnerships will propel the industry dynamics.