Blue Hydrogen: Introduction
- Blue hydrogen refers to hydrogen that is derived from natural gas through the process of steam methane reforming (SMR). SMR mixes natural gas with very hot steam in the presence of a catalyst, where a chemical reaction produces carbon monoxide and hydrogen. The carbon dioxide emissions produced are then captured and stored underground using the Carbon Capture, Utilization and Storage (CCUS) technology leaving nearly pure hydrogen.
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Key Players Operating in Global Market
Key companies operating in the global blue hydrogen market include:
- ATCO LTD.
- Linde plc
- Air Liquide
- Suncor Energy Inc.
Asia Pacific Expected to Constitute Major Share of Global Blue Hydrogen Market
- In terms of region, the global blue hydrogen market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The blue hydrogen market in Asia Pacific is expected to expand at a rapid pace due to the increase in demand for hydrogen in end-user industries such as chemicals, fertilizers, and refinery in countries such as China, India, and South Korea
- Europe is also a key region of the global blue hydrogen market. The market in the region is projected to expand during the forecast period due the rise in demand for clean energy sources such as blue or green hydrogen.
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Chemical End-user Segment Expected to Hold Prominent Share of Global Market
- The global blue hydrogen market can be segmented based on end-user, technology, and region
- Based on end-user, the global blue hydrogen market can be segregated into power generation, chemical, refinery, and others. The chemical segment is projected to hold key share of the global blue hydrogen market during the forecast period. Rise in demand for hydrogen as an ingredient in many chemicals such as hydrochloric acid and ammonia is expected to propel the demand for blue hydrogen during the forecast period.
- In terms of technology, the global blue hydrogen market can be divided into steam methane reforming, gas partial oxidation, and auto thermal reforming. Steam methane reforming technology is extensively used in hydrogen production due to its cost effectiveness.
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