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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 Drivers and Restraints of Blue Hydrogen Market
The COVID-19 pandemic has adversely impacted all industries, including hydrogen, due to the stringent lockdowns in all major countries. It has put the global economy in major distress. At the initial stage, demand for hydrogen significantly declined due to lockdowns. Furthermore, the supply of hydrogen was hampered, as major portion of the hydrogen is produced from natural gas reforming. However, governments of various countries across the world have eased lockdown restrictions. Therefore, the manufacturing process is steadily rising. This is driving the demand for hydrogen in industrial applications. The trend is expected to continue during the forecast period.
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Chemical End-user Segment Expected to Hold Prominent Share of Global Market
Key Players Operating in Global Market
Key companies operating in the global blue hydrogen market include:
Global Blue Hydrogen Market: Research Scope
Global Blue Hydrogen Market, by Technology
Global Blue Hydrogen Market, by End-user
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Asia Pacific Expected to Constitute Major Share of Global Blue Hydrogen Market
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