(MENAFN- GlobeNewsWire - Nasdaq) The Global Brown Hydrogen market Size was Valued at USD 29.6 Billion in 2023 and the Worldwide Brown Hydrogen Market Size is Expected to Reach USD 45.9 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Saudi Aramco, Kawasaki Heavy Industries, Limited, Iwatani Corporation, Shell Japan Limited, Electric Power Development Co. Limited, Bloom energy Corporation, Air Products and Chemicals, Incorporated, Air Liquide S.A., Sasol Limited, Sinopec Limited, J-Power Systems, and Others Key Vendors.
New York, United States , Aug. 27, 2024 (GLOBE NEWSWIRE) -- The Global Brown Hydrogen Market is to Grow from USD 29.6 Billion in 2023 to USD 45.9 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.48% during the projected period.
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Gasification is the process of heating carbonous materials to a gas in order to produce brown hydrogen. A significant amount of carbon emissions is released into the atmosphere as a result of this extraction technology, which turns coal into gas. Hydrocarbon-rich fuels are gasified to produce brown hydrogen, which is mostly produced as a by-product that releases CO2 into the environment. Methane gas and other chemical components of coal are separated out during the gasification process. At high pressures and temperatures, coal is exposed to hot steam and oxygen. Coal is partially oxidized at high temperatures and pressures using steam and oxygen in gasification systems. Coal gasification produces brown hydrogen, which can aid in the production of ammonia by generating hydrogen. Hydrogen is then purified and combined with nitrogen to generate ammonium. We predict that ammonia production will increase by around 40%. The main causes of this surge, according to the International Fertilizer Association, were population expansion and economic growth. Consequently, the brown hydrogen sector is being driven by the growing demand for ammonia manufacturing. However, the substantial carbon footprint that coal gasification emits could stop the business from expanding.
Browse key industry insights spread across 208 pages with 110 Market data tables and figures & charts from the report on the " Global Brown Hydrogen Market Size, Share, and COVID-19 Impact Analysis, By Technology (Coal Gasification with Carbon Capture Storage, and Coal Gasification Without Carbon Capture Storage), By Application (Chemicals & Petrochemicals, Iron and Steel, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The market share of the coal gasification without carbon capture and storage category is substantial during the forecast period.
Based on technology, the brown hydrogen market is divided into coal gasification with carbon capture storage, and coal gasification without carbon capture storage. Among these, the market share of the coal gasification without carbon capture and storage category is substantial during the forecast period. With a substantial market share is the coal gasification without carbon capture and storage segment due to it less expensive than other technologies, coal gasification without carbon capture and storage led the way in terms of volume within the anticipated timeframe. Presently, a vast number of coal gasification plants, mostly in China and the Asia-Pacific area, lack carbon storage for the creation of hydrogen. The cost-effectiveness of coal gasification without carbon capture and storage technologies is increasing demand for hydrogen production.
The chemical and petrochemical segment held the greatest market share over the forecast period.
Based on application, the brown hydrogen market is classified into chemicals & petrochemicals, iron and steel, and others. Among these, the chemical and petrochemical segment held the greatest market share over the forecast period. Due to the widespread usage of brown hydrogen in the chemical industries, the chemical and petrochemical segment held the greatest market share by application throughout the expected period. Climate-neutral items could be produced by petrochemicals using CO2 and climate-friendly hydrogen. Major global producers of brown hydrogen include Saudi Arabia, Indonesia, China, India, Russia, and the United States. The iron and steel sectors are also experiencing an increase in demand for brown hydrogen due to its use as an extra-reducing agent in blast furnaces.
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North America is having the highest share of the global brown hydrogen market over the forecast period.
This is due to the growing demand for sustainable energy sources in the region, North America is expected to hold a significant share of the global market over the projected decade. Because of its established track record, several applications of decarbonized hydrogen, unanticipated cost trajectory, and worries about job losses and carbon leakage spurring expansion in this area, a tax credit was selected. The market for brown hydrogen is growing at the fastest rate in North America because of its robust technological base and early acceptance of new innovations. The market for brown hydrogen is expected to grow during the projected period due to the region's developed client base and robust research and development ecosystem.
Europe is predicted to grow fastest pace throughout the forecast period. The significance of hydrogen is demonstrated by the growing share of cumulative emission reductions in the net zero emissions scenario. The market for brown hydrogen has a lot of potential in Europe. Brown hydrogen technologies are becoming more and more necessary due to investments in conservation and renewable energy projects.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global brown hydrogen market include Saudi Aramco, Kawasaki Heavy Industries Limited, Iwatani Corporation, Shell Japan Limited, Electric Power Development Co. Limited, Bloom Energy Corporation, Air Products and Chemicals, Incorporated, Air Liquide S.A., Sasol Limited, Sinopec Limited, J-Power Systems, and Others.
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Recent Developments
In June 2021, At Shell's Energy and Chemicals Park Rheinland, the company has initiated the largest PEM green hydrogen electrolyze in Europe, generating green hydrogen. The fully functional factory is financed by the European Commission as part of the Refine European partnership.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global brown hydrogen market based on the below-mentioned segments:
Global Brown Hydrogen Market, By Technology
Coal Gasification with Carbon Capture Storage Coal Gasification Without Carbon Capture Storage
Global Brown Hydrogen Market, By Application
Chemicals & Petrochemicals Iron and Steel Others
Global Brown Hydrogen Market, By Regional
North America Europe Germany Uk France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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