Chemical Hydrogen Market Analysis

Chemical Hydrogen Market Analysis

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The blue hydrogen market will register gains at nearly 9% up to 2032. Intense demand of hydrogen as a feedstock for ammonia and methanol manufacturing in line with significant government measures to reduce carbon footprint from these applications has shifted the interest toward blue hydrogen generation. Moreover, capability to be integrated with the existing natural gas infrastructure allowing for a smoother transition and utilization of existing assets in line with continuous improvement in the CCS methods enhancing the carbon capture efficiency will contribute to the scalability of blue hydrogen developments.
 

The green hydrogen market is anticipated to grow substantially in the coming years. Increasing commitment to reduce the carbon emissions and achieve climate targets along with supportive policies and incentives promoting the use of the fuel will augment the business growth. Furthermore, ongoing development of hydrogen infrastructure to support the hydrogen-powered transportation will stimulate the product penetration.
 

Europe chemical hydrogen market valuation to cross USD 15.1 billion by 2032.  Growing public awareness toward transitioning to clean energy sources and reducing carbon footprint coupled with increasing initiatives by both the private and public sector for green transition in the chemical industry will foster the product demand. For instance, in December 2023, the European Commission introduced its first initiatives in supporting the green & digital transition of the EU chemical industry which focuses on green technologies comprising of hydrogen & electrification and digitalization. Additionally, rising research and development efforts for technological advancements in electrolysis will influence the industry potential.