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Europe Chemical Hydrogen Market
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Europe Chemical Hydrogen Market Size
Europe Chemical Hydrogen Market was valued at USD 11.2 billion in 2023 and is anticipated to grow at a CAGR of 3.3% from 2024 to 2032. The hydrogen gas (H2) produced through various chemical processes, typically involves the reaction of hydrogen-containing compounds with other substances. It includes methods including steam methane reforming (SMR), where methane reacts with steam to produce hydrogen and carbon monoxide, or electrolysis, where an electric current is passed through water to split it into hydrogen and oxygen.
To get key market trends
Increasing emphasis on decarbonization along with transition to a low-carbon economy will provide a clear roadmap for the market growth. Rising technological advancements including fuel cells will support expand the potential applications of the industry thereby fostering the market growth. In addition, growing geopolitical and economic factors will enhance the energy security and reduce dependence on imported fuels thereby stimulating the industry landscape.
Europe Chemical Hydrogen Market Report Attributes
| Key Takeaway | Details |
|---|---|
| Market Size & Growth | |
| Base Year | 2023 |
| Market Size in 2023 | USD 11.2 Billion |
| Forecast Period 2024 to 2032 CAGR | 3.3% |
| Market Size in 2032 | USD 15 Billion |
| Key Market Trends | |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Europe Chemical Hydrogen Market Trends
Rising technological advancements coupled with improving hydrogen role as a feedstock for chemical processes will drive innovation in industries including petrochemicals, fertilizers, and steel production. Replacement of hydrogen with carbon-intensive feedstocks, reduced emissions, and increased efficiency will strengthen the market landscape. Furthermore, growing investments in hydrogen production facilities, storage terminals, distribution networks, and refueling stations will enhance the reliability, accessibility, and scalability of these solutions across the region.
Europe Chemical Hydrogen Market Analysis
Learn more about the key segments shaping this market
Based on type, the grey segment is likely to exceed more than USD 9 billion by 2032 owing to its cost-effectiveness and widespread availability. Growing versatility and compatibility with the existing infrastructure will make it an indispensable component of Europe's industrial ecosystem. Furthermore, increasing focus on decarbonization and sustainability is driving efforts to mitigate the environmental impact of grey hydrogen production by transforming it into blue hydrogen.
Learn more about the key segments shaping this market
Netherlands chemical hydrogen market valuation to cross USD 1.4 billion by 2032. the country has implemented a comprehensive set of measures with targets to achieve carbon neutrality by 2050, to promote hydrogen adoption as a key pillar of its energy transition. This includes investment incentives, regulatory frameworks, and strategic partnerships aimed at accelerating the development and deployment, thereby creating opportunities for the business growth. In addition, the country's well-developed ports and transportation networks provide logistical advantages for hydrogen import, export, and domestic distribution, will bolster its product competitiveness on the global stage.
Europe Chemical Hydrogen Market Share
Looking for region specific data?
Eminent players have increased investment in research and development (R&D) to enhance the hydrogen production technologies and processes. Large scale investments in innovation will support companies to improve the efficiency, scalability, and sustainability of hydrogen production methods, including electrolysis, SMR, and biomass gasification. Moreover, market players are actively investing in infrastructure development to support the growing demand for chemical hydrogen across Europe. This includes investments in hydrogen production facilities, storage terminals, distribution networks, and refueling stations, as well as the development of hydrogen hubs and clusters.
Europe Chemical Hydrogen Market Companies
Eminent players operating in the Europe Chemical Hydrogen industry are:
- ACCIONA
- Adani Green Energy
- Air Liquide
- Air Products and Chemicals, Inc.
- Covestro AG
- Cummins Inc.
- Evonik Industries AG
- Linde plc
- Messer
- Plug Power Inc.
- RESONAC HOLDINGS CORPORATION
- Solvay S.A.
- Technip Energies N.V.
- thyssenkrupp Uhde GmbH
- VERDAGY
Europe Chemical Hydrogen Industry News
- In January 2024, Equinor and Linde are planning to collaborate on a one GW blue hydrogen project in the Netherlands. This initiative follows a recent announcement by Germany based state-owned gas company expressing interest in purchasing significant volumes of blue hydrogen from Equinor. The project, named H2M Eemshaven, aims to produce approximately 210,000 tonnes of blue hydrogen annually using fossil gas. Most of this hydrogen will be supplied to customers across the steel, chemicals, and power production industries.
- In November 2023, Air Products announced the construction of a carbon capture and CO2 treatment facility at its hydrogen production plant in Netherlands. The plant is anticipated to be operational by 2026, producing blue hydrogen using the pipeline network of Air Products and supply it to ExxonMobil refinery based in Rotterdam.
This Europe chemical hydrogen market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “MT & USD Billion” from 2019 to 2032, for the following segments:
Market, By Type
- Grey
- Blue
- Green
The above information has been provided for the following countries:
- Germany
- UK
- France
- Italy
- Netherlands
- Russia
Frequently Asked Question(FAQ) :
Who are the leading chemical hydrogen market players across Europe?
ACCIONA, Adani Green Energy, Air Liquide, Air Products and Chemicals, Inc., Covestro AG, Cummins Inc., Evonik Industries AG, Linde plc, Messer, Plug Power Inc., RESONAC HOLDINGS CORPORATION, Solvay S.A., Technip Energies N.V., thyssenkrupp Uhde GmbH, VERDAGY are some of the major chemical hydrogen companies operating in Europe.
What factors are influencing chemical hydrogen market growth in Netherlands?
Netherlands chemical hydrogen industry is anticipated to be worth more than USD 1.4 billion by 2032 and is expected to expand at substantial CAGR from 2024 to 2032, due to the implementation of comprehensive measures to achieve carbon neutrality target by 2050.
How big is the Europe chemical hydrogen market?
The market size of Europe chemical hydrogen was recorded USD 11.2 billion in 2023 and is expected to register 3.3% CAGR from 2024 to 2032, on account of the growing emphasis on decarbonization along with transition to a low-carbon economy.
Why is the demand for grey chemical hydrogen on the rise in Europe?
The grey segment in the Europe chemical hydrogen market is estimated to cross over USD 9 billion by 2032 and is projected to witness substantial growth from 2024 to 2032, owing to its cost-effectiveness and widespread availability.
