Chemical Blue Hydrogen Market Analysis

Chemical Blue Hydrogen Market Analysis

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The steam methane reforming blue hydrogen market will register gains at nearly 10.5% up to 2032. Cost-effectiveness, high conversion efficiency and established energy security along with deployment of carbon capture storage technologies to manage the carbon emissions generated during SMR processes will boost the product adoption. Moreover, companies in the oil and gas sector are exploring blue hydrogen as a way to utilize existing infrastructure, repurpose assets, and diversify their energy portfolios which in turn will drive the industry potential.
 

North America chemical blue hydrogen market is projected to surpass USD 400 million by 2032 owing to extensive research & development activities by leading players coupled with introduction of several projects supported by government to cut emissions will stimulate the industry scenario. For instance, in August 2023, DOE announced nearly USD 34 million for 19 industry and university-led research projects that will advance cutting-edge technology solutions to make clean hydrogen a more available and affordable fuel. Furthermore, major economies focusing to develop policy framework for low emission hydrogen solutions in conjunction with increasing requirement to decarbonize various sectors will augment the business potential.