Hydrogen Market : Advanced Technologies Of Global Industry To 2023| Accentus, Advanced Materials, Bloom Energy, Exxonmobil, General Hydrogen

Albany, NY, 22th April : Recent research and the current scenario as well as future market potential of "Hydrogen as a Chemical Constituent and as an Energy Source" globally.

Occurring in abundance naturally, hydrogen is often considered a clean source of energy that leaves almost zero pollution. To that end, since the 1970s, NASA has used liquid hydrogen to launch rockets and space shuttle into orbit.

Hydrogen energy is renewable in nature and has minimal environmental impact. However, on the contrary, non-renewable energy sources such as coal, oil, and natural gas are needed to separate it from other components such as in water, organic compounds, and hydrocarbons.

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Structurally, hydrogen is the simplest element, wherein one atom of hydrogen consists of one electron and one proton. Despite its simplicity and abundance, hydrogen gas is not found naturally on its own. It is always available in combination such as in water and several organic compounds.

Hydrogen is one of the basic materials used in the chemical industry. In the chemical industry, hydrogen is used to manufacture ammonia for agricultural fertilisers. Some other uses of hydrogen in the chemical industry is the manufacture of cyclohexane and methanol, which are intermediate compounds in the manufacture of pharmaceuticals and plastics.

Hydrogen is used in petroleum refining to produce high grade petrol. Hydrogen is also used to remove sulfur from petroleum during oil refining. The removal of sulfur compounds prevent poisoning of catalytic converters fitted in cars.

Steam reforming is thus far the most important process for the manufacture of hydrogen. The key part of the process involves conversion of a carbon compound into a mixture of carbon monoxide and hydrogen. In the next step, this is followed by conversion of carbon monoxide into carbon dioxide and further production of hydrogen.

Annual U.S. production of hydrogen was an estimated REDACTED million metric tons (MMT) in 2017. World production the same year was about REDACTED MMT, which means that the U.S. accounted for almost 13% of total world output of hydrogen.

The largest energy-related application of hydrogen is in refining. The market drivers of petroleum processing demand for hydrogen are fuel emission standards, the increasing proportion of low-quality heavy sour crudes and growing demand for low sulfur diesel.

In addition, hydrogen can be burned as a fuel to perform work directly, or it can be converted into electricity using a fuel cell. At present, transportation applications consume a negligible portion of the worlds hydrogen production. As of the end of 2017, there were only about 6,500 fuel cell vehicles (FCVs) in the world, with half of them in California. Projections vary, but the most realistic projections peg the number of FCVs on the road at around 70,000 in 2023, which could consume a total of 10,000 tons of hydrogen per year.

Hydrogen is also an important chemical intermediate. Production pathways can be direct, such as via methane steam reforming or electrolysis, or indirect, for example, as a byproduct of chlorine and caustic soda production. Demand for hydrogen in ammonia production is the second-largest segment of the market after refining, followed by methanol production.

Report Scope:

This BCC Research report focuses on key hydrogen technologies and applications. It provides data on the size and growth of both captive and merchant hydrogen markets, company profiles, patent trends, and industry trends. Cutting-edge developments, research priorities and potential business opportunities are a key focus.

The report focuses on the following -
- The structure of the hydrogen industry, its driving forces, its competitive aspects, market segmentation, distribution channels, pricing, and technology.
- Analysis of global market trends, with data for 2017, estimates for 2018 and projections of compound annual growth rates (CAGRs) through 2023.
- Assessment of hydrogen demand, with five-year forecasts.
- Reviews of global environmental and energy regulations.
- Company profiles.
- Patent activity.

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Report includes:

- 40 tables
- An overview of the global market for hydrogen as a chemical constituent and as an energy source
- Analyses of global market trends, with data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023.
- Detailed description about cutting-edge developments in areas such as nanotechnology, biological processing, and others
- Identification of key hydrogen technologies and applications that yield potential business opportunities in the hydrogen industry
- Review of global environmental and energy regulations
- Company profiles of the major players of the industry, including Accentus Plc, Advanced Materials Corp., Bloom Energy Corp., Exxonmobil, General Hydrogen, Hydrogenics Corp., Shell Oil, Toshiba Corp., Toyota Motors, Valero Energy Corp., United Hydrogen Group and Ztek Corp.

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This release was published on openPR.