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North America Chemical Blue Hydrogen Market Trends

Report ID: GMI9074
Published Date: May 2024
Report Format: PDF

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North America Chemical Blue Hydrogen Market Trends

Increasing investment and innovation in CCS technologies, make them more economically viable and scalable for large scale blue hydrogen deployment. Governments, companies, and research institutions are collaborating to develop and deploy CCS solutions for blue hydrogen production, thereby creating favorable market conditions for the product adoption. Rising investments for hydrogen infrastructure development including the construction of new CCS facilities along with refurbishment of existing hydrogen production facilities will drive the product penetration.

For instance, the Alberta Petrochemicals Incentive Program (APIP), provides an investment of more than USD 160 million for Alberta’s Recovery Plan for industrial projects adding value to natural gas production in the province. Further, it will support to strengthen, diversify and bring new opportunities across the country.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

North America chemical blue hydrogen market size was USD 310 million in 2023 and is expected to register 2.4% CAGR from 2024-2032 owing to its usage as a cleaner alternative to traditional hydrogen sources in the Haber-Bosch process.

North America chemical blue hydrogen market from the partial oxidation segment is expected to cross USD 40 million by 2032 due to its ability to efficiently produce hydrogen from various feedstocks, including natural gas, coal, or biomass.

The U.S. chemical blue hydrogen industry is expected to record over USD 260 million by 2032 due to increasing support and funding for hydrogen research, development, and deployment in the country.

Air Liquide, Air Products and Chemicals, Inc., BP p.l.c, Bechtel Corporation, Exxon Mobil Corporation, Equinor ASA, Linde plc, Shell plc, Technip Energies N.V., and TransCanada PipeLines Limited, are some of the major chemical blue hydrogen companies in North America.