The Market Insights: Hydrogen - 2022 report provides a comprehensive review of the global hydrogen market, including various sources of hydrogen supply and demand from the refining, steel, industrial heat, passenger vehicles, road freight, aviation, rail, space heating, ammonia, methanol and other industries.
Global hydrogen demand is currently led by chemicals production (mostly ammonia and methanol) and refineries operation (desulphurization of refined products). Demand is expected to double by 2035 and diversified into the energy markets across the globe. The new demand for hydrogen is expected to be significant in sectors that are difficult to electrify, such as steel, industrial heat and potentially long-haul aviation, however it will take time for aircrafts that operate on hydrogen to commercialize. There are also markets where both electrification and hydrogen may be applicable such as road freight.
Growth is likely to be constrained by the rate at which world scale hydrogen plants and downstream infrastructure such as pipeline networks and hydrogen fuelling stations can be built, which depend on government incentives in the short to medium term.
Global hydrogen supply is predominantly grey (hydrocarbon based without carbon capture) accounting for 98 percent. Blue and green hydrogen are only one percent each. Grey hydrogen will continue to be the predominant hydrogen supply and is expected to remain cost competitive until 2030s, when blue hydrogen, followed by green hydrogen are likely to have a meaningful commercial impact.
NexantECA also analyses the methanol and ammonia markets on an ongoing basis, recent reports include:
- Market Analytics: Methanol - 2022
- Market Scenario Planning: e-Methanol - 2022
- Market Analytics: Ammonia - 2022
Analysis on technology and costs can also be found in the following reports:
About Us - NexantECA, the Energy and Chemicals Advisory company is the leading advisor to the energy, refining, and chemical industries. Our clientele ranges from major oil and chemical companies, governments, investors, and financial institutions to regulators, development agencies, and law firms. Using a combination of business and technical expertise, with deep and broad understanding of markets, technologies and economics, NexantECA provides solutions that our clients have relied upon for over 50 years.