The Iran Hydrogen market stood at nearly 210 thousand tonnes in 2023 and is likely to grow at a healthy CAGR of 2.58% during the forecast period until 2034.
Hydrogen exhibits versatility in its production, sourced from various energy outlets such as natural gas and coal. This adaptable compound serves as a precursor for a variety of fuel derivatives, encompassing synthetic liquid fuels, methane, ammonia, and methanol. Presently, fossil fuels and natural gas stand as the predominant methods for hydrogen production. Although the utilization of electrolytic cell technology is not widespread currently, there is an expected surge in demand in the future, propelled by advancements in cost-effective and reliable innovations. In recent years, multiple projects have been initiated to enhance the cost efficiency of hydrogen production, particularly harnessing renewable electricity sources. Beyond its role as an energy source, hydrogen also acts as a carrier of chemical energy, emphasizing its significance across diverse applications.
Iran is on the verge of a significant upswing in hydrogen demand, spurred by strategic initiatives and favourable conditions. The hydrogen market in Iran is positioned for considerable expansion, primarily propelled by its pivotal role in ammonia production. Ammonia, a fundamental industrial chemical with widespread applications, particularly in agriculture as a nitrogen fertilizer, underscores the pivotal role of hydrogen in the country's economic and industrial landscape. The expansion of the hydrogen market in Iran is likely influenced by factors such as sustained industrial demand, particularly in sectors like petrochemicals, refining, and steel production. The country's positioning in the global energy landscape and its response to the evolving dynamics of the hydrogen market, including government policies, international collaborations, and infrastructure development, play crucial roles in driving market growth. Additionally, Iran's consideration of hydrogen as a transitional and cleaner energy source, even if produced through conventional methods like natural gas reforming, aligns with global trends towards a more sustainable energy future. The Iran Hydrogen market is expected to reach nearly 280 thousand tonnes in the year 2034.
Based on the end-user industry, the Iran Hydrogen market is divided into Ammonia, Refining, Methanol, Fuel, and Others. Among these, the Ammonia industry is dominating the Hydrogen market. This industry consumed approximately 41% of the market in 2023. The fuel industry is poised to experience accelerated growth in the long-term expansion of the hydrogen market. This sector is anticipated to play a significant role in driving the increasing demand and utilization of hydrogen as a versatile and clean energy source. The recognition of hydrogen's potential in fuel applications aligns with the broader trends towards sustainable and low-carbon energy solutions, positioning the fuel industry as a key driver in the long-term trajectory of the hydrogen market.
Major players in the Iran Hydrogen market is National Iranian Oil Company. Major global players in the Hydrogen market are Sinopec, Chevron USA Inc, Air Liquide, Praxair, Flint Hills Resources LP, Air Products, WRB Refining LP, BP West Coast Products LLC, Martinez Refining Co LLC, Hyundai-Wison, Phillips 66 Company, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Hydrogen which covers production, demand and supply of Hydrogen market in Iran.
• To analyse and forecast the market size of Hydrogen
• To classify and forecast Iran Hydrogen market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Hydrogen market in Iran.
To extract data for Iran Hydrogen market, primary research surveys were conducted with Hydrogen manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Iran Hydrogen market over the coming years.
ChemAnalyst calculated Hydrogen demand in Iran by analysing the volume of Hydrogen consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to calculate the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Hydrogen manufacturers and other stakeholders
• Organizations, forums and alliances related to Hydrogen distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hydrogen s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Iran Hydrogen market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
210 thousand tonnes
Market size Volume by 2034
280 thousand tonnes
Growth Rate
CAGR of 2.58% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Region, Demand by End- Use, Demand by Country, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Ammonia, Refining, Methanol, Fuel, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Tabriz Region, Kermanshah Region, Isfahan Region, Tehran Region, and Mashhad Region
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What was Iran market size of Hydrogen in terms of volume in 2023?
Ans:
The Iran market size of Hydrogen has grown significantly in the historic period and reached nearly 210 thousand tonnes in 2023.
Q2.
Which industry is the major consumer of Iran Hydrogen market?
Ans:
The Ammonia industry is dominating the Hydrogen market with a market share of approximately 41% in 2023.
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