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Europe Green Hydrogen and Blue Chemicals market size is expected to reach huge growth during 2022-28. to rise in R&D for the development of electrolyzes and strong demand for green hydrogen and blue chemicals from different application areas across the Europe region. Europe Green Hydrogen and Blue Chemicals Market Growing partnerships/collaborations among electrolyser manufacturers, gas producing companies, gas infrastructure companies, Universities/research Institutes across Europe is also anticipated to support the adoption of these electrolyser and expected to increase the production and as well consumption of green hydrogen in near future In addition, growing interest among companies and increasing focus of governments to reduce carbon emission by adopting technologies, like CCS technologies, is further promoting the growth of blue hydrogen in near future. Europe Green Hydrogen & Blue Chemicals market is escalating owing to implementation of certain strategies by key players to promote the production and consumption of green hydrogen and blue chemicals to meet the demands of the customers in the market. For instance, In 20120, Air Liquide Planned to install high pressure HRS for low carbon H2 and can be used for large trucks across Europe. This HRS is anticipated to be operation by 2022. In 2020, Air Products entered into an Exclusive Strategic Cooperation Agreement with thyssenkrupp. These focus on key regions around the world, including Europe, to develop global scale electrolysis plant to produce and supplying green hydrogen.
Key Developments:
As European gas costs rise, green hydrogen sees an opportunity to profit: In March 2022, Soaring gas costs, exacerbated by the escalating conflict in Ukraine, are reinforcing arguments for the green hydrogen industry in Europe, which is now considered as having a price edge over grey or blue hydrogen alternatives derived from fossil fuels. Investors and hydrogen enterprises, on the other hand, still need legislative clarity to leverage on this advantage and begin growing.
On July 8 2020, the EU’s executive Commission aims to release its hydrogen strategy, which will serve as the foundation for EU law and funding to scale up hydrogen generation to replace fossil fuels in industries such as chemicals and transportation. In a letter sent to EU leaders on June 24 and released on Thursday, more than 30 industry groups and energy companies, including ExxonMobil, Equinor, and Uniper, urged the Commission to take a “technology-neutral” approach to its strategy, not favouring renewable hydrogen over other low-carbon versions of the fuel.
