USD 0.82 billion
Global Hydrogen Production Catalysts Market Size, Share, Growth Analysis, By Type(Platinum type, nickel type), By Application(Hydrocarbon fuels cell, hydrogen-oxygen fuel cells) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2360 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
63 |
Figures:
75
Global Hydrogen Production Catalysts Market Insights
Global Hydrogen Production Catalysts Market size was valued at USD 0.82 billion in 2022 and is poised to grow from USD 0.85 billion in 2023 to USD 1.19 billion by 2031, at a CAGR of 4.2% during the forecast period (2024-2031).
The global hydrogen production catalysts market growth is primarily driven by the increasing demand for hydrogen as a clean and renewable energy source, coupled with the rising focus on reducing carbon emissions to mitigate the impact of global warming. Hydrogen production catalysts play a vital role in the production of hydrogen, which is used in a variety of applications such as fuel cells, power generation, transportation, and industrial processes. The market is driven by the growth of the fuel cell industry, which is expected to witness substantial growth over the forecast period. The increasing demand for hydrogen fuel cells in the automotive industry is expected to drive market growth, as these cells offer a clean and sustainable energy source for vehicles, thereby reducing carbon emissions. The growth of the market is also fueled by the increasing focus on renewable energy sources and the growing popularity of green hydrogen production. However, the market growth may be hindered by the high cost of hydrogen production and the lack of infrastructure for hydrogen transportation and storage. Despite the challenges, the market presents several opportunities, including the growing use of hydrogen in the chemical industry and the increasing investments in the development of new technologies to enhance the efficiency and cost-effectiveness of hydrogen production catalysts.
US Hydrogen Production Catalysts Market is poised to grow at sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Platinum type
Fastest Growth
Nickel type
Growth Rate
4.2% CAGR
Global Hydrogen Production Catalysts Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Hydrogen Production Catalysts Market By Type ($ Bn)
Global Hydrogen Production Catalysts Market By Type (%)
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Global Hydrogen Production Catalysts Market Segmental Analysis
Global Hydrogen Production Catalysts Market is segmented on the basis of type, application, and region. By type, the market is segmented into platinum type, nickel type, and others. By application, the market is segmented into hydrocarbon fuels cell, hydrogen-oxygen fuel cells, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Hydrogen Production Catalysts Market Analysis by Type
The Platinum Type segment is currently the largest segment in the Hydrogen Fuel Cell Catalyst Market. This can be attributed to the fact that platinum is widely used in fuel cell systems due to its excellent catalytic properties, such as high activity, stability, and durability. Platinum is also known for its high electrochemical efficiency and tolerance to impurities, making it a preferred catalyst in various electrochemical reactions.
The Nickel Type segment is expected to witness the fastest growth during the forecast period. This can be attributed to the increasing demand for low-cost catalysts in the hydrogen fuel cell industry. Nickel catalysts have shown promising results in terms of activity and stability, making them a viable alternative to expensive platinum-based catalysts. The growing focus on developing cost-effective and sustainable catalysts is expected to drive the growth of this segment in the coming years.
Global Hydrogen Production Catalysts Market Analysis by Application
The hydrogen fuel cell catalyst market is segmented by application into hydrocarbon fuel cells, hydrogen-oxygen fuel cells, and others. Among these, the hydrogen-oxygen fuel cell segment accounted for the largest share of the market in 2021 due to the increasing use of this type of fuel cell in various applications such as transportation, power generation, and stationary power. Hydrogen-oxygen fuel cells have several advantages over other fuel cell types, including high efficiency, low emissions, and quiet operation, which are driving their adoption in various industries.
The hydrocarbon fuel cell segment is expected to be the fastest-growing segment during the forecast period. This is primarily due to the increasing research and development activities to improve the efficiency of hydrocarbon fuel cells and the growing demand for clean and sustainable energy sources. Moreover, the use of hydrocarbon fuels such as methanol, ethanol, and propane in fuel cells offers several advantages, including high energy density, easy storage and transportation, and low cost, which are expected to further drive the growth of this segment in the coming years.
Global Hydrogen Production Catalysts Market By Type, 2023 (%)
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Global Hydrogen Production Catalysts Market Regional Insights
The Asia-Pacific region dominated the hydrogen production catalysts market, accounting for the largest share of the market by 2030. The growth in this region can be attributed to the increasing demand for hydrogen as an alternative energy source, especially in countries like China, Japan, and South Korea. The presence of key manufacturers in the region and supportive government initiatives, such as investment in the development of fuel cell technologies, are also expected to drive market growth.
The fastest-growing region in the hydrogen production catalysts market is anticipated to be Europe, owing to the rising focus on decarbonization and the adoption of hydrogen as a key element in the green energy transition. The European Union's Green Deal and other national policies are expected to drive the demand for hydrogen as a fuel and energy carrier, thereby boosting market growth. Furthermore, the region's commitment to achieving net-zero greenhouse gas emissions by 2050 is expected to create lucrative opportunities for market players in the coming years.
Global Hydrogen Production Catalysts Market By Region, 2024-2031
- Largest
- Fastest
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Global Hydrogen Production Catalysts Market Dynamics
Global Hydrogen Production Catalysts Market Drivers
Increasing demand for clean energy sources
- The growing need for clean and sustainable energy sources is a major driver for the hydrogen production catalysts market. Hydrogen is considered a clean fuel, and the production of hydrogen using catalysts is an environmentally friendly process. Governments across the world are investing in developing clean energy technologies to reduce carbon emissions, which is expected to boost the demand for hydrogen production catalysts.
Growing demand from the chemical industry
- Hydrogen production catalysts are used in a variety of chemical processes, including the production of fertilizers, plastics, and pharmaceuticals. The chemical industry is a major consumer of hydrogen, and the demand for hydrogen production catalysts is expected to increase with the growth of the chemical industry. The increasing demand for hydrogen as a feedstock for the production of chemicals is expected to drive market growth.
Global Hydrogen Production Catalysts Market Restraints
High cost of catalysts
- The high cost of hydrogen production catalysts is a major restraint for the market. The production of hydrogen using catalysts is a complex process that requires expensive materials and equipment. The high cost of catalysts increases the overall cost of hydrogen production, which can make it less competitive compared to other energy sources.
Limited infrastructure for hydrogen distribution
- Despite the growing demand for hydrogen, the infrastructure for its distribution is limited. The transportation and storage of hydrogen are complex processes that require specialized infrastructure. The limited infrastructure for hydrogen distribution is a major challenge for the growth of the hydrogen production catalysts market.
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Global Hydrogen Production Catalysts Market Competitive Landscape
Global Hydrogen Production Catalysts Market is becoming increasingly competitive as more companies enter the market and existing players expand their offerings. The market is expected to grow significantly in the coming years, driven by the increasing demand for hydrogen as a clean and renewable energy source, as well as the growing adoption of fuel cell vehicles and other hydrogen-powered technologies. These are just some of the many companies competing in the global hydrogen production catalysts market, and the competition is expected to continue to intensify as the market grows. Factors such as product innovation, pricing, distribution, and marketing strategies will play a crucial role in determining which companies emerge as leaders in this space.
Top Player’s Company Profiles in Global Hydrogen Production Catalysts Market
- BASF SE (Germany)
- Clariant International Ltd. (Switzerland)
- Johnson Matthey (UK)
- Haldor Topsoe A/S (Denmark)
- Albemarle Corporation (US)
- Evonik Industries AG (Germany)
- W. R. Grace & Co. (US)
- Umicore (Belgium)
- Axens (France)
- Shell Catalysts & Technologies (Netherlands)
- CRI Catalyst Company (US)
- Arkema SA (France)
- Honeywell International Inc. (US)
- Axcentive SARL (France)
- CeramTec GmbH (Germany)
- Clenergen Corporation (US)
- Giner ELX (US)
- Golden Gate Technologies Inc. (US)
- Heesung Catalysts Corporation (South Korea)
- Ineos Group Holdings SA (Switzerland)
Global Hydrogen Production Catalysts Market Recent Developments
- In March 2024, Ionomr Innovations Inc., a company specializing in advanced polymer and membrane technologies for next-generation hydrogen applications, unveiled a Catalyst Coated Membrane (CCM) based on its Aemion® Anion Exchange Membranes (AEMs). This release aims to advance the development of low-cost green hydrogen systems, ushering in a new era in green hydrogen production. These CCMs are notable for their absence of iridium and toxic perfluorinated (PFSA) substances found in conventional materials, contributing to a cleaner and safer hydrogen production process.
- In February 2024, Pt Single-Atom collaborated with Pt Atom-Clusters using an In-Situ confined strategy to accelerate electrocatalytic hydrogen evolution.
- In February 2024, Envision Energy, a prominent player in green technology, unveiled a strategic collaboration with BASF Process Catalysts, a leading provider of advanced catalyst technology. This partnership aims to enhance the efficiency of e-methanol production derived from green hydrogen and carbon dioxide, signaling a major advancement in sustainable energy solutions. Envision Energy intends to incorporate BASF's innovative SYNSPIRE™ catalyst technology into its energy management system to refine the conversion process of green hydrogen and carbon dioxide into e-methanol.
Global Hydrogen Production Catalysts Key Market Trends
- Increasing adoption of renewable energy sources: The need for hydrogen generation catalysts is anticipated to rise as more people switch to renewable energy sources like solar and wind. Renewable energy sources can be used to manufacture hydrogen, making the manufacturing process more environmentally friendly.
- Technological advancements in catalysts: The development of new and advanced catalysts is a key trend in the hydrogen production catalysts market. Manufacturers are spending money on research and development to create catalysts that are more effective and affordable. The need for catalysts for hydrogen production is anticipated to increase as new catalysts with enhanced performance are developed.
Global Hydrogen Production Catalysts Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Hydrogen Production Catalysts Market analysis, the market is driven by the increasing demand for hydrogen in various end-use industries such as petrochemicals, refining, and transportation. The growing focus on renewable energy sources and the increasing investments in the development of hydrogen fuel cells are expected to further boost market growth. However, the market growth may be hindered by factors such as the high cost of production and the availability of alternative technologies for hydrogen production. Additionally, the limited availability of raw materials and the stringent regulations regarding the use of certain catalysts may also pose challenges to market growth. In terms of trends, the market is witnessing a shift towards the development of advanced catalysts that offer higher efficiency and lower costs. Furthermore, the growing use of nanotechnology in catalyst development is expected to create new opportunities for market players. The increasing adoption of renewable energy sources and the development of green hydrogen production technologies are also expected to be key trends shaping the market in the coming years. Overall, the global market is expected to witness significant growth, driven by the increasing demand for hydrogen in various industries and the growing focus on renewable energy sources. However, market players will need to overcome challenges such as high production costs and regulatory hurdles to fully capitalize on the opportunities presented by the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 0.82 billion |
| Market size value in 2031 | USD 1.19 billion |
| Growth Rate | 4.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Hydrogen Production Catalysts Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Hydrogen Production Catalysts Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Hydrogen Production Catalysts Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hydrogen Production Catalysts Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hydrogen Production Catalysts Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Hydrogen Production Catalysts Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Hydrogen Production Catalysts Market Report Snapshots
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