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Green Hydrogen and Blue Chemicals Market: By Product, By Application, and Region Forecast 2020-2031
Green Hydrogen and Blue Chemicals Market: By Product, By Application, and Region Forecast 2020-2031
The green hydrogen and blue chemicals market is valued at US$ 92.3 million in 2021 and is expanded to grow at a significant CAGR of 7.9% over 2022-2028. Factors such as the decreasing cost of creating renewable energy from all sources, developing electrolysis technologies, and strong demand from FCEVs and the power industry are driving the market. Green hydrogen-powered vehicles are ideal for mining equipment, railroads, planes, trucks, buses, and maritime transport. It is the most efficient way for advanced countries to meet their zero-carbon commitments. Green hydrogen is gaining popularity due to its zero-emission manufacturing process, which may be used to replace traditional hydrogen such as grey, blue, and brown. Because green hydrogen reduces the cost of creating renewable energy, it is being used by various end-users, including mobility, chemical, electricity, grid injection, and others. The global green hydrogen market is developing all over the world as a result of the factors above. Focusing on alliances/partnerships/joint ventures/collaborations growing number of FCEVs & HRSs creates opportunities for the marketers. Consumables segment is expected to gain the major market share 96.6% (value) & 94.9% (volume) in 2022 with a value of US$ 82.8 million & 38.6 (thousand tons) in 2022. Whereas the mobility segment is anticipated to show the fastest growth rate, from 222.8% in 2023 to 348.4% by 226 (value growth) and from 229.8% in 2023 to 356.9% by 2026 (volume growth)
Study Period
2025-2031Base Year
2024CAGR
7.9%Largest Market
Asia-PacificFastest Growing Market
EuropeThe growing number of production plants existence of pipeline projects drives the market. Moreover, increasing use in the mobility industry and growing investments in manufacturing a large amount of green hydrogen, and achieving net-zero carbon emissions are the key factors driving the growth of green hydrogen. High cost for low carbon or zero carbon h2 and high capital investments hampers the market.
In 2020, Europe had the most significant share of the market owing to the industry's solid, lengthy infrastructure and a wide range of possibilities. Furthermore, the cost of renewable generation is falling, yet another factor pushing its growth in Europe. The Asia Pacific region is the green hydrogen market's fastest-expanding region due to its potential to create vast facilities for storing green hydrogen.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2025-2031 |
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Market CAGR |
7.9% |
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By Product Type |
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By Application |
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By Region |
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The hydrogen and blue chemicals market is projected to expand at a CAGR of 7.9% during the forecast period.
Air Liquide, Air Products, Linde Group, Yara International ASA, Hy2gen AG, Lhyfe
Europe is the fastest-growing region for hydrogen and blue chemicals market
| 1. Executive Summary |
| 2. Global Green Hydrogen & Blue Chemicals Market Introduction |
| 2.1. Global Green Hydrogen & Blue Chemicals Market – Taxonomy |
| 2.2. Global Green Hydrogen & Blue Chemicals Market –Definitions |
| 2.2.1. By Product |
| 2.2.2. By Application |
| 2.2.3. By Region |
| 3. Global Green Hydrogen & Blue Chemicals Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Challenges |
| 3.6. Regulatory Frameworks/Political |
| 3.7. Technology Analysis |
| 3.8. Global Green Hydrogen & Blue Chemicals Market Dynamic Factors - Impact Analysis |
| 3.9. Global Green Hydrogen & Blue Chemicals Market – Competition Landscape |
| 4. Global Green Hydrogen & Blue Chemicals Market Analysis, 2022- 2028 |
| 4.1. Market Analysis, 2022- 2028 (Revenue, USD Mn) & Volume (000’s Tons) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Green Hydrogen & Blue Chemicals Market, By Product, 2022- 2028 (Revenue, USD Mn) & Volume (000’s Tons) |
| 5.1. Green H2 |
| 5.1.1. Market Analysis, 2022- 2028 (Revenue, USD Mn) & Volume (000’s Tons) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Blue H2 |
| 5.2.1. Market Analysis, 2022- 2028 (Revenue, USD Mn) & Volume (000’s Tons) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Blue NH3 |
| 5.3.1. Market Analysis, 2022- 2028 (Revenue, USD Mn) & Volume (000’s Tons) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Green Hydrogen & Blue Chemicals Market, By Application, 2022- 2028 (Revenue, USD Mn) & Volume (000’s Tons) |
| 6.1. Stationary |
| 6.1.1. Market Analysis, 2022- 2028 (Revenue, USD Mn) & Volume (000’s Tons) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Mobility |
| 6.2.1. Market Analysis, 2022- 2028 (Revenue, USD Mn) & Volume (000’s Tons) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Consumables |
| 6.3.1. Market Analysis, 2022- 2028 (Revenue, USD Mn) & Volume (000’s Tons) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Global Green Hydrogen & Blue Chemicals Market Forecast, By Region, 2022- 2028 (Revenue, USD Mn) & Volume (000’s Tons) |
| 7.1. North America |
| 7.2. Europe |
| 7.3. Asia Pacific |
| 7.4. Latin America |
| 7.5. The Middle East and Africa |
| 7.6. Global Green Hydrogen & Blue Chemicals Market - Opportunity Analysis Index, Y-O-Y Analysis, and Market share Analysis |
| 7.7. Country Level Insights Analysis |
| 8. Competition Landscape |
| 8.1. Strategic Dashboard of Top Market Players Assessment |
| 8.2. Company Profiles (Introduction, Financial Analysis, Product Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 8.2.1. Air Liquide |
| 8.2.2. Air Products |
| 8.2.3. Linde Group |
| 8.2.4. Yara International ASA |
| 8.2.5. Hy2gen AG |
| 8.2.6. Lhyfe |
| 8.3. Top Players in R&D and Digital Solutions |
| 8.3.1. Leading Enterprises in R&D |
| 8.3.2. Leading Research & Technology Organizations ( RTOs) in R&D |
| 8.3.3. Leading Universities in R&D |
| 8.3.4. Digital Solutions & Digitalizations |
| 9. Projects Analysis, Networking Platforms Analysis, Material Challenges, Emerging Markets, Patents Analysis |
| 10. Research Methodology |
| 11. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.