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Chemical Blue Hydrogen Market Trends

Report ID: GMI7887
Published Date: Jan 2024
Report Format: PDF

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Chemical Blue Hydrogen Market Trends

Shifting consumer trends toward blue hydrogen owing to its advantages including low emission energy supply along with ability to displace unabated fossil-based fuels from various industrial operations will drive the business outlook. Rising energy consumption across various sectors including refineries & industries along with the growing demand for hydrogen as a feedstock for chemical manufacturing comprising methanol & ammonia among others is set to foster the product demand.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of chemical blue hydrogen was worth USD 700 million in 2023 and is anticipated to reach more than USD 2.1 billion by 2032, due to the rising focus on the reduction of greenhouse gas emissions worldwide.

Chemical blue hydrogen market from the steam methane reforming technology segment is set to grow at over 10.5% CAGR from 2024 to 2032, due to its cost-effectiveness, high conversion efficiency and established energy security.

North America chemical blue hydrogen industry size is likely to exceed USD 400 billion by 2032, owing to extensive R&D activities for the introduction of several projects supported by government to cut emissions.

Some of the key chemical blue hydrogen firms are Air Liquide, Shell plc, Bechtel Corporation, BP p.l.c., Exxon Mobil Corporation, Equinor ASA, Technip Energies N.V, Linde plc, Air Products and Chemicals, Inc., and Reliance Industries Limited