Home > Energy & Power > Emerging Energy Technologies > Hydrogen > Chemical Blue Hydrogen Market

Chemical Blue Hydrogen Market Size - By Technology (Steam Methane Reforming, Autothermal Reforming, Partial Oxidation), & Forecast, 2024 – 2032

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

Chemical Blue Hydrogen Market Size

Chemical Blue Hydrogen Market was valued at USD 700 million in 2023 and is estimated to register over 11.3% CAGR from 2024 to 2032. Blue hydrogen refers to the hydrogen produced through the chemical process of methane reforming with carbon capture and storage (CCS). In this method, natural gas, primarily methane, undergoes a reforming process to extract hydrogen. The carbon dioxide (CO?) generated during this process is captured and stored to prevent its release into the atmosphere, contributing to the reduction of greenhouse gas emissions.
 

Chemical Blue Hydrogen Market

To understand key trends  

Industries and countries seeking to transition to clean energy sources along with substantial investments by the energy companies towards the development of hydrogen infrastructure will complement the business landscape. For instance, in July 2022, the Shanghai Chemical Industry Park Industrial Gases Co., Ltd. (SCIPIG), an Air Liquide subsidiary, announced to invest over USD 199 million to build two blue hydrogen generation units & other related infrastructure in SCIP, China.

COVID- 19 Impact

The COVID-19 pandemic has caused disruptions across industries on the account of project delays and a slowdown in investments affecting the development of blue hydrogen projects. However, growing emphasis on environmentally friendly and sustainable practices aligned with investments and support for low-carbon technologies will contribute to business landscape.
 

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.
 

Chemical Blue Hydrogen Market Analysis

Chemical Blue Hydrogen Market Share, 2023
To understand key trends  

The steam methane reforming blue hydrogen market will register gains at nearly 10.5% up to 2032. Cost-effectiveness, high conversion efficiency and established energy security along with deployment of carbon capture storage technologies to manage the carbon emissions generated during SMR processes will boost the product adoption. Moreover, companies in the oil and gas sector are exploring blue hydrogen as a way to utilize existing infrastructure, repurpose assets, and diversify their energy portfolios which in turn will drive the industry potential.
 

North America Chemical Blue Hydrogen Market Size, 2021 - 2032 (USD Billion)
To understand key trends  

North America chemical blue hydrogen market is projected to surpass USD 400 million by 2032 owing to extensive research & development activities by leading players coupled with introduction of several projects supported by government to cut emissions will stimulate the industry scenario. For instance, in August 2023, DOE announced nearly USD 34 million for 19 industry and university-led research projects that will advance cutting-edge technology solutions to make clean hydrogen a more available and affordable fuel. Furthermore, major economies focusing to develop policy framework for low emission hydrogen solutions in conjunction with increasing requirement to decarbonize various sectors will augment the business potential.
 

Chemical Blue Hydrogen Market Share

Collaborations and agreements between energy companies, technology providers, and industrial consumers are driving the growth of Chemical Blue hydrogen. Joint ventures and cooperative efforts aim to scale up production capacities and make blue hydrogen more accessible. Additionally, the strategic partnerships enable companies to share the financial burden and risks associated with scaling up production capacities while they can better navigate regulatory landscapes, access government incentives, and contribute to achieving national and international decarbonization goals.
 

Chemical Blue Hydrogen Market Companies

Major players operating across the chemical blue hydrogen industry include:

  • 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.
  • Reliance Industries Limited
     

Chemical Blue Hydrogen Industry News

  • In November 2023, Air Products and Chemicals, Inc.  announced the construction of a carbon capture and carbon dioxide treatment plant at its existing hydrogen production plant in Netherlands. The plant will supply blue hydrogen through pipeline network system to Exxon Mobil's refinery in Rotterdam and other industries including steel, energy and chemicals. Therefore, the company will support in reducing carbon emissions and enhance its position across the Europe.
     
  • In June 2022, Equinor ASA submitted its blue hydrogen project in a government funding bid of USD 15.50 million to develop a low-carbon hydrogen facility in the UK. The H2H Production 2 project aims to deliver 1.2 GW of blue hydrogen by 2028, which can be used in multiple applications including power production, heavy industry, and low-carbon chemical generation. With this project, the company aims to decarbonize different sectors across Europe and support the government’s reduced emission targets.
     

This chemical blue hydrogen market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘MT & USD Billion’ from 2024 to 2032 for the following segments:

Click here to Buy Section of this Report


Market, By Technology

  • Steam methane reforming
  • Autothermal reforming
  • Partial oxidation

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Netherlands
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
  • Middle East & Africa
    • Saudi Arabia
    • Oman
    • UAE
    • Kuwait
    • Qatar
    • South Africa
  • Latin America

 

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

Chemical Blue Hydrogen Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 279
  • Countries covered: 19
  • Pages: 100
 Download PDF
Call Us  Download PDF