Gray Hydrogen Market: Introduction
- Gray hydrogen is produced by natural gas steam reforming or during coal processing. It is odorless, colorless, and tasteless. It is the only fuel gas that does not contain any carbon atoms.
- Hydrogen has the highest thermal conductivity of all gases. When hydrogen is combined with oxygen, the flame reaches a temperature of 2834°C. Therefore, it is used extensively in refinery, metalworking, and steel industries.
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Key Drivers and Restraints of Gray Hydrogen Market
- Rapid globalization and industrialization is one of the key drivers of the gray hydrogen market. Demand for hydrogen has been increasing significantly in various industries across the world. For instance, rise in demand for gray hydrogen in the chemical industry is a prominent factor boosting the gray hydrogen market. More than two-thirds of the global hydrogen production is used in the chemical industry, primarily for the synthesis of ammonia and methanol.
- Increase in utilization of hydrogen in fuel cell-operated vehicles is likely to drive the gray hydrogen market in the near future. Fuel cell offers pollution-free transportation and can be used as a substitute for fossil fuel. Furthermore, governments of various countries across the world are promoting the use of fuel cell vehicles to reduce greenhouse and carbon emission. They are providing subsidies and tax benefits; and investing more in development of infrastructure for fuel cell vehicles. Thus, rise in usage of hydrogen in the automobile industry is anticipated to propel the demand for gray hydrogen during the forecast period.
- Gray hydrogen gas is produced by using coal or natural gas. Thus, production of gray hydrogen leads to generation of high amount of carbon dioxide, which results in air pollution. Therefore, companies are developing green and blue hydrogen, which are produced by using renewable sources of energy. Increase in concern about carbon emission across the and rise in focus on green and blue hydrogen are estimated to restrain the gray hydrogen market during the forecast period,
Global Gray Hydrogen Market Segmentation
- The global gray hydrogen market can be segmented based on process, application, and end-user
- In terms of process, the gray hydrogen market can be bifurcated into natural gas reforming and coal processing. Natural gas reforming is more advanced and mature production process than coal processing. Thus, demand for natural gas reforming is expected be higher during the forecast period.
- In terms of application, the gray hydrogen market can be divided into ammonia production, metallic ore reduction, methanol production, power generation, and others. The ammonia production segment dominated the gray hydrogen market at a faster CAGR in 2020. This trend is anticipated to continue during the forecast period.
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- Based on end-user, the gray hydrogen market can be divided into refinery, chemicals, steel, utility, automobile, and others. The chemicals segment dominated the gray hydrogen market at a rapid CAGR in 2020. Hydrogen is used as an ingredient in many chemicals such as hydrochloric acid and ammonia. Demand for these chemicals is expected to rise in the near future. This, in turn, is projected to boost the demand for gray hydrogen in the chemicals industry during the forecast period.
Global Gray Hydrogen Market: Regional Segmentation
- Based on region, the global gray hydrogen market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific dominated the global gray hydrogen market in 2020. The market in the region is expected to expand at a significant pace during the forecast period, as demand for hydrogen is high in chemicals, fertilizers, and refinery industries in countries such as China, India, and South Korea.
- North America is projected to account for vital share of the global gray hydrogen market in the near future. The U.S. is estimated to lead the market in the region during the forecast period. This can ascribed to the rise in demand for gray hydrogen in oil refineries.
- Europe is also a key region of the global gray hydrogen market. The market in the region is projected to expand at a steady CAGR during the forecast period. The U.K., Germany, and France are likely to lead the gray hydrogen market in Europe during the forecast period.
- Demand for gray hydrogen is anticipated to be high in Middle East & Africa and Latin America, as countries such as Saudi Arabia, the UAE, Brazil, Mexico, and Venezuela have large numbers of oil refineries that require gray hydrogen
Key Players Operating in Market:
- Toyo Engineering Corporation
- Osaki CoolGen Corporation
- Oil and Natural Gas Corporation Ltd.
- Chiyoda Corporation
- Linde
- Johnson Matthey
- Clariant
- Air Liquide
- Air Products and Chemicals, Inc.
Global Gray Hydrogen Market: Research Scope
Global Gray Hydrogen Market, by Process
- Natural Gas Reforming
- Coal Processing
Global Gray Hydrogen Market, by Application
- Ammonia Production
- Metallic Ore Reduction
- Methanol Production
- Power Generation
- Others
Global Gray Hydrogen Market, by End-user
- Chemicals
- Refinery
- Steel
- Automobile
- Utility
- Others
COVID-19 Impact on Gray Hydrogen Market
The COVID-19 pandemic has adversely impacted the world due to the stringent lockdowns in all major countries. It has put the global economy in major distress. At the initial stage, the demand for gray hydrogen significantly declined due to lockdowns. Furthermore, the supply of gray hydrogen was hampered, as major portion of the gray hydrogen is produced from natural gas reforming.
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However, governments of various countries across the world have eased the lockdown restrictions. Due to this manufacturing process steadily rising. This is driving the demand for gray hydrogen in industrial applications. The trend is expected to continue during the forecast period.
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