Press release
Brown Hydrogen Market Scope, Share, Size And Forecast 2024-2033
Brown Hydrogen Market Scope
As per the report, the brown hydrogen market size has grown strongly in recent years. It will grow from $34.23 billion in 2023 to $36.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The brown hydrogen market size is expected to see strong growth in the next few years. It will grow to $46.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
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Rising Ammonia Production Demand Fuels Growth In The Brown Hydrogen Market
Growing demand for ammonia production is expected to propel the growth of the brown hydrogen market going forward. Ammonia production involves the creation of ammonia, a colorless gas with a pungent stench widely used in many industries, including agriculture, chemicals, and pharmaceuticals. Brown hydrogen can be used in ammonia production by producing hydrogen through coal gasification and then purifying and combining it with nitrogen to synthesize ammonia. For instance, in November 2021, according to the International Fertilizer Association, a France-based non-governmental organization, ammonia production was expected to increase by nearly 40% by 2050 due to economic and population growth. Therefore, the growing demand for ammonia production is driving the growth of the brown hydrogen market.
Innovative Hydrogen Platforms Drive Growth And Sustainability In The Brown Hydrogen Market
Major companies operating in the brown hydrogen market are innovating new platforms, such as hydrogen platforms, to increase their profitability in the market. The Hydrogen Platform is a new effort that assembles all of the company's cutting-edge material and chemical solutions to assist the progress of the developing hydrogen sector. For instance, in January 2021, Solvay S.A., a Belgium-based chemical company, launched a hydrogen platform that aims to increase Solvay's investment in research and innovation as well as the resources allocated to the hydrogen sector. The hydrogen platform consists of Solvay's cutting-edge materials for hydrogen systems, such as ionomers and high-performance polymers, which enable the most cutting-edge technological platforms of the present. The platform supports the development of green hydrogen technology and provides advanced materials for hydrogen systems, which will help accelerate the transition to a low-carbon economy.
The brown hydrogen market covered in this report is segmented -
1) By Technology: Coal Gasification With Carbon Capture Storage, Coal Gasification Without Carbon Capture Storage
2) By Distribution Channel: Pipeline, Cargo
3) By End-Use Industry: Refining, Chemicals, Iron And steel, Other End Users
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Major companies operating in the brown hydrogen market report are Saudi Aramco, Sinopec Limited, ExxonMobil Corporation, TotalEnergies SE, Valero Energy Corporation, Chevron Corporation, Mitsubishi Cooperation, Shell Japan Limited, BASF SE, ConocoPhillips Company, General Electric Company, Siemens AG, Dow Inc., ThyssenKrupp AG, Linde plc, Yara International ASA, Sasol Limited, Kawasaki Heavy Industries Limited, China Petrochemical Corporation, Iwatani Corporation, Ube Industries Ltd., Sumitomo Mitsui Construction Co. Ltd., Bloom Energy, Fusion Fuel Green Limited, J-Power Systems Corporation
Contents of the report:
1. Executive Summary
2. Brown Hydrogen Market Report Structure
3. Brown Hydrogen Market Trends And Strategies
4. Brown Hydrogen Market - Macro Economic Scenario
5. Brown Hydrogen Market Size And Growth
…..
27. Brown Hydrogen Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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