The South America Hydrogen market demand stood at 9 million tonnes in 2023 and is expected to grow at a CAGR of 3.91% during the forecast period until 2034.
Hydrogen demonstrates adaptability in its generation, sourced from various energy outlets such as natural gas and coal. This versatile compound acts as a precursor for a range of fuel derivatives, encompassing synthetic liquid fuels, methane, ammonia, and methanol. Currently, fossil fuels and natural gas dominate the primary methodologies for hydrogen production. Although the use of electrolytic cell technology with caustic soda traces is not widespread at present, there is an expected surge in demand in the future, driven by advancements in cost-effective and dependable innovations. Recent years have witnessed the commencement of multiple projects focusing on enhancing the cost efficiency of hydrogen production, particularly utilizing renewable electricity sources. Beyond its role as an energy source, hydrogen also serves as a carrier of chemical energy, highlighting its significance across diverse applications.
In South America, the hydrogen market is poised for a healthy growth mainly driven by the usage of hydrogen to produce ammonia. Ammonia, a key industrial chemical widely used in agriculture as a nitrogen fertilizer, relies on hydrogen in the Haber-Bosch process. This process, crucial for ammonia synthesis, involves combining nitrogen from the air with hydrogen under specific conditions. Given South America's significant emphasis on agriculture and the need for increased ammonia production to support food security and agricultural productivity, the demand for hydrogen is expected to surge. The region's commitment to sustainable and efficient industrial processes further enhances the positive outlook for the hydrogen market in South America, positioning it for steady and substantial expansion. Moreover, the region's commitment to sustainable and environmentally friendly industrial practices aligns with the broader global trends. Hydrogen, as a clean and versatile energy carrier, fits well into these sustainability goals. This alignment further boosts the prospects of a surge in hydrogen adoption across various industries in South America, contributing to the anticipated growth in the forecast period. Thus, South America Hydrogen market volume is likely to reach roughly 14 million tonnes by the year 2034.
Based on the end-user industry, the South America Hydrogen market is segmented into Ammonia, Refining, Methanol, Fuel, and Others. The Ammonia industry is the largest end-user and a market share of about 38% in the year 2023.
Major players in the South America Hydrogen market are Air Liquide, Hyundai-Wison, Linde plc (BOC), and Praxair. Other global players in the Hydrogen market are Shanghai HuaLin Industrial Gases, Iwatani, Iwatani/Kansai Electric/Sakai LNG, Messer, Iwatani/Tokuyama, Kawasaki, LG Chem, 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 South America Hydrogen which covers production, demand and supply of Hydrogen market in the globe.
• To analyse and forecast the market size of South America Hydrogen
• To classify and forecast South America Hydrogen market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Hydrogen market in the globe.
To extract data for South America 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 South America Hydrogen market over the coming years.
ChemAnalyst calculated Hydrogen demand across the South America region 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 determine 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 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, South America 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
9 million tonnes
Market size Volume by 2034
14 million tonnes
Growth Rate
CAGR of 3.91% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2023
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Ammonia, Refining, Methanol, Fuel, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Argentina, Brazil, Columbia, and Rest of South America
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What was the size of the South America Hydrogen market in terms of volume in 2023?
Ans:
The size of the South America Hydrogen market has grown significantly in the historic period of 2015-2022 and reached approximately 9 million tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of Hydrogen?
Ans:
Ammonia industry is the leading consumer of Hydrogen.
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