Global Hydrogen Market Demand & Forecast Analysis, 2016-2032

Executive Summary : - 

Hydrogen is the most abundant chemical element available globally which can be produced as a principal product or as a by-product. About 95% of hydrogen is derived from fossil fuels like natural gas, liquid hydrocarbons and coal. Most of the hydrogen is produced by steam reforming of light hydrocarbon (such as methane). It can also be recovered as by-product from chlor-alkali plants or chemical synthesis operation. Hydrogen market is driven by refineries where it is used in the desulphurization of transportation fuels. It is also used in production of ammonia, methanol, in food processing and in electrical & electronics sector.

Stringent regulation on sulphur emissions is the driving factor for hydrogen market globally, especially in Asia-Pacific region where efforts have been taken to reduce urban pollution. North America and Middle East market for hydrogen is expected to grow due to increased demand of hydrogen for petroleum refining. Lower natural gas prices have made an advantage in production of methanol and ammonia in U.S, which ultimately has led to the growth of hydrogen market in that region. Global hydrogen market is expected to grow at CAGR of 4% in mid-term to long-term forecast.