Blue Hydrogen: Introduction

  • Blue hydrogen refers to hydrogen that is derived from natural gas through the process of steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction produces carbon monoxide and hydrogen. The carbon dioxide emissions produced are then captured and stored underground using the Carbon Capture, Utilization and Storage (CCUS) technology leaving nearly pure hydrogen.

Key Drivers and Restraints of Blue Hydrogen Market

  • Rise in demand for clean hydrogen in end-user industries such as chemical; and rapid industrialization & globalization are key factors driving the blue hydrogen market. Chemical is one of the major end-user industries of hydrogen. More than two-thirds of the global hydrogen production is used in the chemical industry, primarily for the synthesis of ammonia and methanol.
  • Rise in utilization of hydrogen in fuel cell-operated vehicles is expected to propel the blue hydrogen market in the near future. Fuel cell offers pollution-free transportation and can be used as a substitute for fossil fuel. Furthermore, governments of various countries across the world are promoting the use of fuel cell vehicles to reduce GHG emission. They are providing subsidies and tax benefits; and investing more in development of infrastructure for fuel cell vehicles. Thus, rise in usage of hydrogen in the automobile industry is anticipated to propel the demand for blue hydrogen during the forecast period.

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  • Blue hydrogen faces social acceptance issues, as it is associated with additional costs for CO2 transport and storage and requires monitoring of stored CO2. This is likely to hamper the blue hydrogen market during the forecast period.

COVID-19 Impact Analysis

  • The COVID-19 pandemic has adversely impacted all industries, including hydrogen, due to the stringent lockdowns in all major countries. It has put the global economy in major distress. At the initial stage, demand for hydrogen significantly declined due to lockdowns. Furthermore, the supply of hydrogen was hampered, as major portion of the hydrogen is produced from natural gas reforming. However, governments of various countries across the world have eased lockdown restrictions. Therefore, the manufacturing process is steadily rising. This is driving the demand for hydrogen in industrial applications. The trend is expected to continue during the forecast period.

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Chemical End-user Segment Expected to Hold Prominent Share of Global Market

  • The global blue hydrogen market can be segmented based on end-user, technology, and region
  • Based on end-user, the global blue hydrogen market can be segregated into power generation, chemical, refinery, and others. The chemical segment is projected to hold key share of the global blue hydrogen market during the forecast period. Rise in demand for hydrogen as an ingredient in many chemicals such as hydrochloric acid and ammonia is expected to propel the demand for blue hydrogen during the forecast period.
  • In terms of technology, the global blue hydrogen market can be divided into steam methane reforming, gas partial oxidation, and auto thermal reforming. Steam methane reforming technology is extensively used in hydrogen production due to its cost effectiveness.

Asia Pacific Expected to Constitute Major Share of Global Blue Hydrogen Market

  • In terms of region, the global blue hydrogen market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • The blue hydrogen market in Asia Pacific is expected to expand at a rapid pace due to the increase in demand for hydrogen in end-user industries such as chemicals, fertilizers, and refinery in countries such as China, India, and South Korea

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  • Europe is also a key region of the global blue hydrogen market. The market in the region is projected to expand during the forecast period due the rise in demand for clean energy sources such as blue or green hydrogen.

Key Players Operating in Global Market

Key companies operating in the global blue hydrogen market include:

  • ATCO LTD.
  • Linde plc
  • Air Liquide
  • Suncor Energy Inc.

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