Merchant HydrogenMarket
Merchant hydrogen form a key entityin the hydrogen production and distribution to end-use industries. In recenttimes that are characterized by mounting global greenhouse gas (GHC) emissionsand its impacts on climate change, the merchanthydrogen market is expected to make rapid inroads in the energy sector.Hydrogen has emerged as an incredible avenue for all proponents who concertedlyaim at fighting off climate change. The reason for this is that hydrogenmerchants are likely to intensify their efforts to bridge the gap in renewablesenergy production and the need. Over the years, the drive for producingrenewable power has become stronger in a bid to meet low-carbon energy demands.The climate change perspective will be a key factor propelling the strides inthe merchant hydrogen market. New contours will develop in response to thedemand for hydrogen in various industries.
Hydrogen production will be vital forplayers in the transport industry looking to adopt power that can has help themdecarbonize the sector. However, unarguably, the share of the overall demand islow. In coming years, the merchant hydrogen market is expected to take it in abig way. Rise in demand for low-carbon fuels will be a key trend for economiesin the developed as well as developing economies.
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Overview:
Abundantly available, Hydrogen asfuel is a dream come true but requires separation from its compounds, it canalso be produced in a lab, is odorless and colorless. Besides, when being usedas a fuel, it emits very low levels of fumes. And, it can deliver power usingheat and fuell cell technology.
Moreover, its use in a variety ofindustries will fuel its growth over the forecast period of 2017 to 2025.Thereby, charting a steady CAGR (Compound Annual Growth Rate), global merchanthydrogen market will generate lucrative opportunities of growth for the marketplayers. Some of the most prominent names in the global merchant hydrogenmarket landscape include Air Liquide SA, Linde AG, Praxair Inc., Air Productsand Chemicals Inc., Airgas Inc., and Hydrogenics Corp, among many others.
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Some of the factorsthat will drive growth into the global merchant hydrogen market are spelled outbelow:
· Rise in population will lead to increase in need for energy. As per aUnited Nations study, in next 30 years, world population will increase by 2billion. And, by 2050, it will be to a 9.7 billion. This means demands for energy,agricultural fertilizer, pharmaceutical and power utilities. As demand forclean fuel generation risers, so would grow the market for merchant hydrogenfuel would increase considerably. This will also see a boost owing to hustle tomove away from fossil fuels as the have an adverse effect on environment andthe awareness regarding the same is increasing substantially.
· Use in Pharmaceuticals will also add to demand in merchant hydrogenmarket. The players in the indurty of pharmaceuticals are looking at anincrease in incidence of chronic diseases, CVD, diabetes and eye relateddisorders and this would make major demands on the industry, thereby, creatingdemands on merchant hydrogen market.
Hydrogen is found in abundance aroundthe world and can be utilized as a fuel source after it is separated fromdifferent chemical compounds. Hydrogen is generally found in the gaseous form,and it is colorless and odorless in nature. It is insoluble in water and can beproduced by a series of chemical processes in the laboratory. Hydrogen gas isgenerally produced by electrolysis of water. It can also be produced through achemical reaction between diluted acids and iron or zinc. Commercial productionof hydrogen gas includes a two-step process. In first step, hydrogen and carbonmonoxide are produced by combustion of natural gas with steam. The second stepinvolves the conversion of carbon monoxide to carbon dioxide through water-gasreaction. The converted carbon dioxide is then removed through the selectivewashing process. Hydrogen gas has a number of potential applications due to itshigh energy-weight ratio and ultra-low emissions during the time of usage.Hydrogen gas for industrial and chemical operations is produced through avariety of chemical reactions and energy sources. The produced hydrogen gas canfurther utilized to deliver power in combined heat power and fuel celltechnologies.
Hydrogen is an important chemicalfeedstock that has been used for several decades in many chemical and refiningoperations. And owing to its application in clean energy production, it isviewed as a potential fuel source for future energy production. Merchanthydrogen gas is the amount of hydrogen gas that is traded around the globe fordifferent chemical and energy applications. Hydrogen gas can be segmented intocaptive hydrogen and merchant hydrogen. The selling price of merchant hydrogengas is high as it requires additional energy for compression, purification,storage, and transportation to end-users. Hydrogen gas is commercially producedthrough steam methane reforming, partial oxidation of coal, electrolysis ofwater, and thermochemical reactions in fuel cells. Storage and transportationof the merchant hydrogen requires high capital expenditure. It is transportedusing high pressure cylinders. Some of the hydrogen gas is also transportedthrough pipeline networks. Most refineries and petrochemical companies receivemerchant hydrogen through pipelines directly from the hydrogen producers.Merchant hydrogen gas for the purpose of trading can be stored using differentmodes such as glass microspheres, cryoadsorption, encapsulation, metalhydrides, and chemically bound hydrogen.
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Petroleum refineries require most ofthe hydrogen gas for ammonia production, followed by petroleum refining, anddesulfurization. The merchant hydrogen gas market is expected to be driven byemphasis on clean energy production, rise in energy demand, increase in cost offossil fuels, higher demand from petroleum refineries, and a rise in use of hydrogenin the food and beverage industry. Major restraints that can hamper themerchant hydrogen market are high cost of storage and transportation and safetyconcerns. North America is one of the dominant regions for merchant hydrogenproduction followed by Europe and Asia-Pacific. Demand for merchant hydrogen inAsia Pacific is anticipated to grow in the near future owing to growing demandof hydrogen gas from the food and beverage, petrochemical, petroleum refining,metallurgy, and power utility industries in the region.
Leading players in the merchanthydrogen market include Air Liquide SA, Linde AG, Praxair Inc., Air Products& Chemicals Inc., Airgas Inc., and Hydrogenics Corp.
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