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Captive Chemical Hydrogen Generation Market Size

Report ID: GMI11146
Published Date: Aug 2024
Report Format: PDF

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Captive Chemical Hydrogen Generation Market Size

Captive Chemical Hydrogen Generation Market was valued at USD 74.9 billion in 2023 and is anticipated to grow at a CAGR of 6.2% from 2024 to 2032. It refers to the production of hydrogen gas within a chemical manufacturing facility for internal use. This process involves generating hydrogen on site to meet the specific needs of the chemical production processes, rather than purchasing it from external suppliers.

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The rising chemical industry focus on reducing their dependency on external suppliers and mitigating the risks associated with fluctuating hydrogen prices and supply chain disruptions are set to drive the process adoption. Furthermore, companies are also shifting towards adopting processes that can easily get integrate with existing facilities, optimize operational efficiency, reduce transportation and storage costs, and enhance overall cost control leading to uplift business statistics.

Captive Chemical Hydrogen Generation Market Report Attributes
Report Attribute	Details
Base Year:	2023
Captive Chemical Hydrogen Generation Market Size in 2023:	USD 74.9 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.2%
2032 Value Projection:	USD 126.7 Billion
Historical Data for:	2021 - 2023
No. of Pages:	80
Tables, Charts & Figures:	25
Segments covered:	Process, and Region
Growth Drivers:	Environmental regulations Improved supply chain resilience Environmental benefits and sustainability
Pitfalls & Challenges:	Limited hydrogen infrastructure

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Expanding research activities and rising innovations in electrolysis, such as high-efficiency alkaline and proton exchange membrane (PEM) electrolyzers to improve clean fuel production efficiency and reduced energy consumption are significantly contributing to process growth. Additionally, advancements in steam methane reforming (SMR) technologies, including carbon capture and storage (CCS), to enhance the sustainability of hydrogen production from natural gas, contributing to the economic feasibility and attractiveness of on-site hydrogen generation.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of captive chemical hydrogen generation was worth over USD 74.9 billion in 2023 and is set to register 6.2% CAGR from 2024 to 2032, due to the rising chemical industry focus on reducing their dependency on external suppliers worldwide.

Captive chemical hydrogen generation industry from the electrolysis segment is expected to showcase about 6.8% CAGR from 2024 to 2032, due to rising demand for processes that can produce hydrogen without emitting carbon dioxide when powered by renewable energy sources.

Asia Pacific captive chemical hydrogen generation industry is poised to reach USD 88 billion by 2032, due to rising demand for clean fuel for chemical process such as ammonia production, refining, and petrochemical synthesis in the region.

Air Liquide, Air Products and Chemicals, Fluor Corporation, Linde plc, McPhy Energy, Nel Hydrogen, Plug Power Inc, SFC Energy AG, Technip Energies, and Yara International ASA, are some of the major captive chemical hydrogen generation companies worldwide.