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World Hydrogen Market

  • June 2014
  • 331 pages
  • Freedonia
Report ID: 944103

Summary

Table of Contents

World demand to rise 3.5%annually through 2018

Global consumption of merchant andcaptive hydrogen is forecast to increase3.5 percent annually through 2018 to 290billion cubic meters, driven by stronggrowth in petroleum hydrotreating andhydrocracking refining operations. Theseadvances will be particularly robust indeveloping countries as per capita vehicleownership rates rise, and as countriesadopt and enforce more stringentemissions regulations to combat increasinglydifficult air pollution problems.Merchant supply from industrialgas companies will expand rapidly ashydrogen consumption in upgradedpetroleum refineries exceeds the refineries’available captive resources.

Low-sulfur fuel regulationsto continue driving demand

Over the past two decades, the adoptionby many developed countries of motorvehicle emissions regulations has led tothe need for low-sulfur and ultra-lowsulfurgasoline and diesel fuels, greatlyincreasing the consumption of hydrogenin refinery hydrotreating operations. Thistrend will continue to drive demandgoing forward as developing countriesbegin to combat persistently difficult airquality issues by implementing and/orenforcing more stringent fuel sulfurregulations. While tightening motorvehicle fuel sulfur regulations will be onefactor driving refinery hydrogen demandin developing countries, growth will alsobe aided by rising per capita vehicleownership rates and higher demand forfuels. Additionally, the shift in theworld’s crude oil supply toward heaviercrudes and rising demand for distillatefuels globally will support the increaseduse of hydrogen in refinery hydrocrackingprocesses to break down heavierpetroleum fractions into more valuableproducts.Outside of refining, hydrogen is used inthe production of many important chemicals;as well as in the metals, electronics,and thin-film solar industries; edible oilprocessing; and a variety of other applications.Although the chemical industryis the largest of these, more rapid growthis expected in several smaller markets.Additionally, the adoption of hydrogenenergy technologies continues to proceedworldwide, and fuel cells will see greatermainstream adoption. Despite technicaland other challenges, the emergence of ahydrogen market for fuel cell poweredvehicles remains a possibility.

China to claim largest shareof new demand growth

Although the United States will remainthe world’s largest hydrogen consumingcountry, the greatest share of growththrough 2018 is expected to occur inChina. With air pollution in urban areasan increasingly pressing issue, China isexpected to aggressively target motorvehicle emissions by enacting andenforcing tighter fuel sulfur regulations.This will drive hydrogen demand growthas the country’s refining industry increasesits ability to produce low-sulfur fuels.Other emerging markets such as Indiaand Russia will also seek to export ultralow-sulfur fuels, and will see among thefastest gains in hydrogen demand.In most developed countries, demand forhydrogen will grow only modestly, if atall. The refining and chemical industriesof Western Europe and Japan facestagnant domestic markets as well asstrong competition from other areas. TheUS and Canada, however, will benefitfrom relatively plentiful raw materialsupply and the advanced state of theirrefining industries, allowing for healthiergrowth in hydrogen demand.

Study coverage

This upcoming industry study,World Hydrogen, presents historical demand data for 2003,2008 and 2013, plus forecasts for 2018and 2023 by market, world region, andfor 17 countries. The study also considersmarket environment factors, examineshydrogen energy technologies, evaluatescompany market share and profiles keyglobal industry players.

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