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|Source: BCC Research|
According to a new technical market research report, HYDROGEN AS A CHEMICAL CONSTITUENT AND AS AN ENERGY SOURCE (CHM031C) from BCC Research (www.bccresearch.com), the global market value for hydrogen as a chemical constituent and as an energy source was $120 billion in 2010, but is expected to increase to nearly $163 billion in 2015, for a five-year compound annual growth rate (CAGR) of 6.3%.
Total U.S. production in 2010 was valued at $22 billion in 2010 and was projected to increase at a CAGR of 3% to reach $25.5 billion in 2015.
This BCC Research report defines individual markets and technical applications for hydrogen. In regard to cutting-edge developments, areas such as nanotechnology and biological processing, where considerable research dollars have been expended, are covered.
Among the key trends in the hydrogen business are pipeline development and plant modernization. Hundreds of millions of dollars in projects to build new hydrogen production facilities, and new pipelines, have been announced in the last several years. Coincidentally, though, there have been significant cutbacks in government funding for hydrogen-related research.
Hydrogen is primarily used in petroleum refining and as a chemical intermediate, particularly in the manufacture of agricultural fertilizers. Hydrogen has some utility as a fuel source in transportation, but numerous technical and economic barriers still exist to widespread deployment of either hydrogen-powered engines in vehicles or fuel cell-powered vehicles that use stored hydrogen.
The report provides data about the size and growth of both captive and merchant hydrogen markets, company profiles, patent trends and industry trends. Cutting-edge developments, research priorities, and potential business opportunities are a key focus.
With its broad scope and in-depth analyses, this study will prove to be a valuable resource, particularly for anyone involved with or interested in hydrogen as a chemical intermediate or an energy resource. It will be particularly useful for researchers and laboratory and government personnel working in research or company settings as well as business professionals such as marketing managers, strategic planners, forecasters, and new product and business developers who are involved with most aspects of the hydrogen industry.
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