Home > Chemicals & Materials > Advanced Materials > Gas Hydrates Market

Gas Hydrates Market Trends

Report ID: GMI6264
Published Date: Jul 2023
Report Format: PDF

Download Free Sample

Gas Hydrates Market Trends

The development of innovative extraction technologies for gas hydrates is a significant trend in the market. Continuous research and technological advancements aim to improve the efficiency and cost-effectiveness of gas hydrate extraction, including methods such as depressurization, thermal stimulation, and CO2 injection. These advancements are crucial for realizing the commercial potential of gas hydrate resources. Environmental sustainability is a key trend in the market.

As concerns about climate change and greenhouse gas emissions increase, there is a growing emphasis on environmentally sustainable practices in gas hydrate exploration and production. Efforts to minimize methane emissions during extraction, promote carbon capture and storage (CCS) techniques, and implement environmentally responsible production processes align with this trend.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of gas hydrates reached USD 2.4 billion in 2022 and is set to cross USD 4 billion by 2032, due to the increasing global energy demand and the rising concerns about energy security.

The energy production application segment held 40% share of the gas hydrates market in 2022, owing to the rise in the exploration, production, and development of new energy sources to meet growing energy demands.

U.S. gas hydrates market size reached USD 0.36 billion revenue in 2022, attributed to the higher dependency on imported energy resources in the region.

Some of the prominent gas hydrates firms include Japan Oil, Gas and Metals National Corporation (JOGMEC), ConocoPhillips, Chevron Corporation, ExxonMobil Corporation, Shell Global, TotalEnergies SE, BP plc, PetroChina Company Limited, and China National Offshore Oil Corporation (CNOOC).