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Chemical Liquid Hydrogen Market Size

Report ID: GMI9390
Published Date: May 2024
Report Format: PDF

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Chemical Liquid Hydrogen Market Size

Chemical Liquid Hydrogen Market was valued USD 16.7 billion in 2023 and is anticipated to grow at a CAGR of over 5.6% between 2024 and 2032. The process involves cooling the gas to extremely low temperatures to achieve a liquid state, wherein the extracted product is used as a feedstock or reactant across various chemical processes. Industries including petrochemicals, electronics, metallurgy, and pharmaceuticals utilize chemical-grade liquid fuel for processes like hydrogenation, synthesis, and purification.

Chemical Liquid Hydrogen Market

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Transition towards hydrogen economy along the development of clean energy infrastructure worldwide will foster the demand for chemical liquid hydrogen. technological advancements in production methods to enhance the efficiency and cost-effectiveness of clean energy production will give a positive industry outlook. Furthermore, supportive government initiatives, subsidies, and policies aimed at promoting clean energy and reducing greenhouse gas emissions will foster investment and innovation in the sector, thereby driving business growth.

Chemical Liquid Hydrogen Market Report Attributes
Report Attribute	Details
Base Year:	2023
Chemical Liquid Hydrogen Market Size in 2023:	USD 16.7 Billion
Forecast Period:	2024 - 2032
2032 Value Projection:	USD 27.7 Billion
Historical Data for:	2021 – 2023
No. of Pages:	110
Tables, Charts & Figures:	60
Segments covered:	Production, Distribution, End Use and Region
Growth Drivers:	Rising adoption of hydrogen as a clean energy source Supportive government initiatives and policies Investments in hydrogen infrastructure development
Pitfalls & Challenges:	High Upfront Cost

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Expansion of hydrogen infrastructure, including storage facilities, transportation networks, and distribution systems, to improve accessibility and availability of liquid products will stimulate market penetration. Growing shift towards carbon neutrality and renewable energy adoption drives investment in electrolysis technology for alternative clean energy production thereby boosting the growth trajectory.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of chemical liquid hydrogen was reached USD 16.7 billion in 2023 and will grow at 5.6% CAGR during 2024 to 2032, driven by transition towards hydrogen economy along the development of clean energy infrastructure worldwide.

Chemical liquid hydrogen market from the SMR production segment held a decent share in 2023 and is projected to grow by more than USD 24 billion by 2032 on account of its scalability, efficiency, and cost-effectiveness.

Asia Pacific liquid hydrogen market will exceed USD 12.4 billion by 2032, fueled by rapid industrialization, sustainability initiatives and government support.

Air Liquide, Air Products and Chemicals, Inc., Ballard Power Systems Inc, Chart Industries, ENGIE, ENEOS Corporation, Hexagon Composites, Iwatani Corporation, Linde plc, Messer Group, Nel ASA, Plug Power Inc., and Total Energies among others.