Home > Energy & Power > Emerging Energy Technologies > Hydrogen > Asia Pacific Chemical Hydrogen Market

Asia Pacific Chemical Hydrogen Market Trends

Report ID: GMI9345
Published Date: May 2024
Report Format: PDF

Download Free Sample

Asia Pacific Chemical Hydrogen Market Trends

Ongoing research and development efforts focused on improving the efficiency and cost-effectiveness coupled with mandates to curb the overall emission levels across the industries will accelerate the market potential. For instance, in April 2022, through Climate Disclosure Program (CDP) and Science Based Targets initiative (SBTi), about 670 companies in the Asia Pacific region set emission reduction targets which will cut over 336 million of CO2 by 2030. Additionally, ongoing investments for clean energy alternatives in the long term will influence the product adoption.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size for chemical hydrogen in Asia Pacific reached USD 17.4 billion in 2023 and is set to witness 6.2% CAGR from 2024 to 2032, owing to the increasing production of environmentally friendly hydrogen.

APAC grey chemical hydrogen industry size is likely to reach 21 USD billion by 2032, driven by their affordability and availability.

China market is forecasted to exceed USD 13 billion by 2032, attributed to the evolving regulatory landscape across numerous countries & regions, introduction of new projects, pilot studies & commercial partnerships.

ACCIONN, Adani Green Energy, Air Liquide, Air Products and Chemicals, Inc, Ally Hi-Tech Co., Ltd., Cummins Inc., Linde plc, Messer, Plug Power Inc., Reliance Industries Limited, RESONAC HOLDINGS CORPORATION, Sinopec, Technip Energies N.V., thyssenkrupp Uhde GmbH, and VERDAGY.