Page 164 - CW E-Magazine (2-4-2024)

News from Abroad

INDUSTRY TRENDS
Hydrogen set to transform clean fuel industry; white

hydrogen to gain prominence: Report

The hydrogen economy is ready to synthesis of green ammonia and meth-
disrupt the renewable energy sector, to anol illustrates hydrogen’s capability to
decarbonise traditional sectors and the create environment-friendly industrial
discovery of white hydrogen will give compounds. This approach dramatically
it a further push, said a market research slashes carbon emissions, aligning
report by BIS Research. with the global ambition for decar-
bonisation. The expanding markets for
The world is witnessing a pivotal green ammonia and green methanol
shift towards eco-friendly energy alter- harbours the potential to fuel a clean have been influenced by the global shift
natives and sustainable fuel utilisation. energy boom, which could offer a sus- toward greener alternatives in sectors
At the heart of this transformation is tainable and possibly plentiful energy such as agriculture, energy, and chemi-
hydrogen, which is distinguished by solution that would sidestep the elabo- cal manufacturing. According to BIS
its varieties, notably green and white rate production processes required for Research, the green ammonia market
hydrogen. Green hydrogen, obtained from its counterparts. Though exploration, is expected to reach $18,801.0-mn by
splitting water using renewable energy, mining, and extraction are still at an 2031, and the green methanol market
has been celebrated for its low envi- emergent stage, BIS Research has has been estimated to reach $3,149.05-
ronmental impact. The green hydrogen estimated the production of white mn by 2031.
market is expected to grow at a CAGR of hydrogen to reach 115.09-mt by 2033.
67.19% and reach $141.29-bn by 2033, Future of hydrogen economy
the report said. White hydrogen, also Applications as fuel According to the report, the ‘hydro-
called ‘gold hydrogen,’ occurs natu- Hydrogen’s adaptability extends gen economy’ might increasingly lean
rally and can be mined. The discovery to multiple applications, revolutionis- toward exploiting sources of naturally
of naturally occurring white hydrogen ing how energy is stored and utilised occurring hydrogen. White hydrogen is
has kicked off a gold rush and has as fuel. Hydrogen as a fuel is a critical expected to stand out as a transforma-
encouraged several players to locate resource for de-carbonising industries tive element, presenting a cleaner and
and extract natural hydrogen. that rely on traditional carbon-based potentially more effective solution than
fossil fuels. its manufactured peers. Its utilisation
The global hydrogen supply chain could remarkably decrease the energy-
is currently dominated by green hydro- Fuel cells powered by hydrogen intensive and capital-heavy methods
gen and encompasses its generation, have been redefining battery techno- presently dominating hydrogen produc-
conservation, and distribution. The logy with their superior energy density tion, leading the world into a new era
sector thrives on breakthroughs in the and rapid refuelling times. Insights of energy efficiency and sustainability.
electrolysis of water and enhancements from BIS Research reveal that the mar-
in PEM electrolysers, striving for higher ket for hydrogen fuel cells is expected “From creating eco-friendly green
efficiencies and broader scalability. to grow at a CAGR of 21.68% for the hydrogen to unlocking the possibili-
Advances in electrical supply systems, period 2023-2033, driven by the esca- ties of white hydrogen, the industry is
alongside the expansion of global lating demand for renewable energy on the cusp of witnessing a surge in
hydrogen pipelines and refuelling infra- in both transport and stationary power harnessing hydrogen’s full potential.
structures, ensure the fluid movement sectors. The sector’s growth figures and As technology continues to develop
and availability of hydrogen fuel, pro- projections highlight hydrogen’s crucial and the world embraces renewable
pelling the market’s momentum. role in addressing the world’s energy resources, hydrogen is expected to
requirements sustainably. become a critical pillar in contributing to
The potential of white hydrogen the global shift toward building a more
lies in its natural availability and the Green ammonia and green methanol sustainable and environment-friendly
eco-friendly nature of its extraction. It Leveraging green hydrogen in the tomorrow,” the report stated.

164 Chemical Weekly April 2, 2024

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