Green Hydrogen and Blue Chemicals Market Global Industry Forecast 2022

The global green hydrogen and blue chemicals market size was valued at USD 92.3 million in 2021 and is poised to grow at a significant CAGR of 7.9% during the forecast period 2022-28. Green hydrogen is being used by a variety of end-users, including mobility, chemical, electricity, grid injection, and others, because it lowers the cost of producing renewable energy. As a result of the aforementioned factors, the worldwide green hydrogen market is growing. The expanding number of FCEVs and HRSs focusing on alliances/partnerships/joint ventures/collaborations presents opportunity for marketers. Green hydrogen is rising in popularity due to its zero-emission manufacturing method, and it can be used to replace traditional hydrogen varieties such as grey, blue, and brown.

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Consumables Segment Dominates the Green Hydrogen and Blue Chemicals Market
With a value of USD 82.8 million and a volume of 38.6 thousand tonnes in 2022, the consumables segment is predicted to obtain a dominant market share of 96.6 percent (value) and 94.9 percent (volume). The market is driven by the growing number of production units and pipeline developments. Furthermore, the expanding use of green hydrogen in the mobility industry, as well as increased investments in manufacturing a big volume of green hydrogen and reaching net-zero carbon emissions, are all driving the rise of green hydrogen. The market is hampered by high costs for low carbon or zero carbon h2 as well as significant capital requirements.

The global green hydrogen and blue chemicals market segmentation:

By Product: Green H2, Blue H2, Blue NH3
By Application: Consumables, Mobility, Stationary
Europe Leads Green Hydrogen and Blue Chemicals Market
Because of the industry's stable, long infrastructure and diverse choice of options, Europe had the largest share of the market in 2020. Throughout addition, the cost of renewable energy is decreasing, which is another reason driving its expansion in Europe. Moreover, Asia Pacific is the green hydrogen market's fastest-growing area because of its potential to build massive storage facilities for green hydrogen.

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Key player’s profiles in the green hydrogen and blue chemicals market report are Air Liquide, Air Products Inc, Yara, Linde plc., Siemens Energy, Cummins Inc., Lhyfe., Beijing Pai Ruihua Hydrogen Enterprise.

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