Middle East & Africa Petroleum Refining Hydrogen Market Analysis

Middle East & Africa Petroleum Refining Hydrogen Market Analysis

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Based on type, the green segment is projected to reach more than USD 8.5 billion by 2034. Increasingly stringent environmental regulations and regional efforts to curb carbon emissions are driving refineries to adopt cleaner solutions leading to boost green fuel adoption. Rising emphasis on sustainability is encouraging refineries to align with national and international carbon reduction targets, further promoting the adoption of cleaner technologies. Furthermore, improving regional initiatives in nations such as Saudi Arabia, with projects including NEOM’s green hydrogen initiative, will promote clean energy adoption in refineries to enhance their sustainability profiles and create export opportunities for low-carbon fuels to markets with stringent environmental standards.
 

Saudi Arabia petroleum refining hydrogen market is anticipated to reach over USD 12.4 billion by 2034. Growing country's vision in diversifying its economy by reducing dependence on oil and embracing renewable energy will create lucrative opportunities for product adoption in petroleum refineries seeking to decarbonize their operations. The presence of vast natural gas resources for blue hydrogen production in line with rising stringent international regulations, such as the IMO sulfur cap will compel refineries to adopt clean fuel.
 

In the U.S. improving federal and state-level commitments towards carbon neutrality and climate goals will propel the adoption of green fuels in refineries. Furthermore, increasing investments in technological innovations for hydrogen production, alongside heightened research and development efforts from both public and private sectors will enhance the industry outlook.