Aug 2022
Renewable Chemicals and Energy

Market Insights: Hydrogen - 2022

This report provides a comprehensive review of the global hydrogen market, including various sources of hydrogen supply and demand in refining, steel, industrial heat, passenger vehicles, road freight, aviation, rail, space heating, ammonia, methanol and other.

Market Insights: Hydrogen - 2022 includes a market review and outlook to 2035 for each key region:  North America, South America, Western and Central Europe, Eastern Europe, Middle East, China and Other Asia Pacific.  The report also discusses viable pathways for hydrogen production, along with hydrogen production costs, levelized costs of hydrogen (LCOH) and pricing.

Market drivers, key challenges, and potential barriers are reviewed and evaluated including regulatory framework and policies for stimulating overall hydrogen demand. Hydrogen pricing is reviewed and a comparative costs analysis of the main colours of hydrogen (e.g., grey, blue, and green) is performed.


For achieving “net-zero” emissions by 2050 to constrain the global temperature rise to 1.5 to 2.0 degrees Celsius (°C), negligible or minimal (low) carbon hydrogen is receiving much attention.  Hydrogen is typically used in the chemical industry for several important products such as ammonia, methanol, cyclohexane, hydrogen peroxide, aniline, and oxo alcohols, amongst others.  Hydrogen is also used in the refining sector to reduce the sulfur content of certain fuel streams as well as in many other industries.  In recent years, there is a growing emphasis on adopting hydrogen as an “energy carrier” in fuel cell applications which would open a potentially large new market.  Different types of hydrogen are defined based on a colour palette classifying hydrogen based on its potential environmental footprint and resulting impact.