In the Western market, the prices of Green Hydrogen have shown a bullish trend. This market development can be mainly instigated through increased demand from the downstream fuel market. Additionally, the energy prices incremented as the prices of Natural Gas in the US market and LNG in the European market have shown rising trends as of this July, which led to an overall increase in production cost, further causing a rise in prices of Green Hydrogen. These similar market dynamics led to similar prices trend in the Western market.

Texas (USA), The Green Hydrogen market has shown a Bullish market trend as of July. This development can be primarily through increased demand from the downstream industry, like the fuel and fertilizer industry. The US government has also announced the Green Hydrogen policy for the first time, creating an optimistic market. It mainly talks about the production, storage, and usage process of Green Hydrogen, which is bound to create positive market sentiments. Furthermore, there was high procurement activity due to positive market sentiments, which led to inventories being offered at premium prices.

In the Netherlands, the European Commission has approved a renewable hydrogen production plan of Euro 246 million and the building of an electrolysis plant with a capacity of at least 60 megawatts (MW). The Netherlands' renewable hydrogen plan aims to keep up the green energy transition and end its dependence on Russian fossil fuels. These major investment activities created positive market sentiments. The improved economic situation as inflation was also stated at 4.6%, which led to overall positive market sentiments.

As per ChemAnalyst Database, 'The prices of Green Hydrogen in the upcoming months in the western market are expected to increase amid an increase in demand from the downstream industries like Fuel industries. Furthermore, improvement in the economic situation is bound to create positive market sentiments. In the US market, the prices are expected to rise significantly as prices of Natural Gas is likely to increment, which in turn will be led to high production cost, and demand from the downstream fuel industries is also expected to rise on the backdrop of the improved economic situation. Additionally, the Green Hydrogen strategy announced will likely increase private sector investment and help construct Green Hydrogen infrastructure, and create positive market sentiment in the Green Hydrogen market. The prices are expected to rise in the Dutch market as the Hydrogen production plan is bound to create positive market sentiments. Additionally, the demand from the downstream industry is expected to rise.'