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GLOBAL INDUSTRY INSIGHT: Aerogel Market Size, Share, Development, Growth and Demand Forecast
to 2020
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Global Hydrogen Market Size, Share, Development, Growth and
Demand Forecast to 2020
The increasing use of hydrogen in petroleum industries is propelling the growth of the global hydrogen market.
The other end-user industries for hydrogen include metal processing industries, chemical manufacturing,
pharmaceuticals, and food processing. The demand for hydrogen in petroleum refining has increased significantly
over the last few years, owing to stringent motor vehicle emissions regulations imposed by various governments.
Developed countries follow the latest emission regulations; whereas, developing countries frequently revise
regulations. The rising per capita vehicle ownership and consequential demand for petroleum is fuelling the
demand for hydrogen globally. Apart, their scope in refineries as a chemical compound further acts as a driving
factor for the hydrogen market.
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analysis/hydrogen-market
Some of the other drivers behind the growing global demand of hydrogen include increasing demand of hydrogen
from refinery hydro-processing industry, and growing concept of power-to-gas. Power-to-gas concept is designed
to conserve energy and optimally utilize renewable sources. Methanation is one of the most important processes
of the power-to-gas cycle, which produces methane. Hydrogen is one of the important raw materials for
methanation, where it combines with carbon dioxide and produces methane. Growing utilization of this system is
further fuelling the demand of hydrogen gas.
On the basis of production and delivery, the global hydrogen market can be segmented into merchant production
and captive production. On the basis of production process, the hydrogen market can be classified as gasification
of coal, steam reforming of natural gases, partial oxidation of hydrocarbons, electrolysis of water, and others. On
the basis of application, the hydrogen market can be classified as petroleum refinery, chemical production, food
processing, pharmaceutical, metal processing, and others.
Though environmental legislations are increasing global hydrogen consumption for purification and higher quality
products anticipated to provide further growth opportunities for hydrogen market, one of the major challenges to
the global hydrogen market is unstable global oil refining capacity. The oil refining industry is a major end-user of
hydrogen gas. Instability in this industry is severely affecting the growth of the hydrogen market. There is major
instability in Western Europe, where refining capacity is continuously declining since 2011. According to the
Organization of the Petroleum Exporting Countries (OPEC), the oil refining capacity of Western Europe was
decreased from 15,155.9 (thousand barrels per calendar day) in 2011 to 14,097.6 (thousand barrels per calendar
day) in 2013.
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Global Hydrogen Market Size, Share, Development, Growth and
Demand Forecast to 2020
Geographically, Asia-Pacific is the largest revenue generating region globally for the hydrogen market. Rise in
number of ammonia production plants and increasing refinery output is driving the Asia-Pacific hydrogen market,
particularly in countries such as India, China, and Malaysia. North America is the second-largest market for
hydrogen. The U.S. is the largest hydrogen consumer in North American. Over the last few years, stringent motor
vehicle emission regulations imposed in developed countries, including the U.S., have increased the demand for
low-sulfur and ultralow-sulfur gasoline and diesel fuels. This, in turn, is fuelling demand for hydrogen in the
petroleum refining industry. This is driving the hydrogen market in North America.
Some of the key players in the global hydrogen market include Messer Group GmbH, Airgas Inc., Taiyo Nippon
Sanso Corporation, Iwatani Corporation, Hydrogenics Corporation, Air Products and Chemicals Inc., Showa
Denko K.K, Air Liquide S.A. and Praxair Inc.
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