High Purity Hydrogen Market Analysis and Industry Outlook 2019-2027

Hydrogen is produced by natural gas steam reforming or electrolysis of water. It offers various qualities. For instance, it is odorless, colorless, and tasteless. Hydrogen is lighter than air and burns with an invisible and clean flame. It is the only fuel gas that does not contain any carbon atoms.
Hydrogen has the highest thermal conductivity of all gases. When hydrogen is combined with oxygen, the flame reaches a temperature of 2834°C. Therefore, it is used extensively in metalworking and steel industries.
When mixed together, hydrogen and argon create a range of argon/hydrogen shielding gases for tungsten inert gas and plasma welding. These shielding gases are primarily employed to weld stainless steels and nickel alloys. Led by these properties, hydrogen is used in stainless steel and aluminum industries.

Key Drivers and Restraints of High Purity Hydrogen Market

Rapid globalization and industrialization is one of the key drivers of the high purity hydrogen market. Demand for metalworking has been increasing significantly in various industries across the world. This is expected to drive the high purity hydrogen market.
Rise in demand for high purity hydrogen in the chemical industry is a prominent factor boosting the high purity hydrogen market. More than two-thirds of the global hydrogen production is used in the chemical industry, primarily for the synthesis of ammonia and methanol.
Rise in demand for high purity hydrogen in food & beverages and electronic industries is another factor propelling the high purity hydrogen market. Hydrogen can be used in high purity standards of food & beverages and electronics industries, as hydrogen purities of 99.99% and above can be achieved.
High production cost is a major factor restraining the high purity hydrogen market. Hydrogen is expensive to produce in sufficient quantities through the current technology. A few inexpensive methods are available for extraction of hydrogen. However, these are expected to require high amount of energy.

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The global high purity hydrogen market can be segmented based on type and end-user
In terms of type, the high purity hydrogen market can be segmented into below 99.9% and above 99.9%. Demand for above 99.9% is high in chemical and electronics industries; hence, these segments are estimated to expand at a rapid pace during the forecast period.
Based on end-user, the high purity hydrogen market can be divided into chemicals, refinery, metalworking, food & beverages, automobile, aerospace, and others. The chemicals segment dominated the high purity hydrogen market with high CAGR. This trend is anticipated to continue during the forecast period.

Based on region, the global high purity hydrogen market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
Asia Pacific dominated the global high purity hydrogen market in 2018. The market in the region is expected to expand at a significant pace during the forecast period, as demand for hydrogen is high in chemical and electronics industries in countries such as China and Japan.
North America is projected to account for important share of the high purity hydrogen market in the near future. The U.S. is estimated to lead the market in the region during the forecast period.
The market in Europe is projected to expand at a steady CAGR during the forecast period. Germany and France are likely to lead the high purity hydrogen market in Europe during the forecast period.