The worldwide steam methane reforming market size was valued at $ 117.54 billion in 2021 and is predicted to record a CAGR of 4.78% over the foreseen period.
The growing hydrogen production industry has become a key driver of the worldwide steam methane reformer market as steam methane reforming remains the most economical method of producing hydrogen. Steam reforming of methane mainly involves two reactions: the water gas shift reaction and the reforming reaction. In the latter case, natural gas is generally steam stripped and then heated to a very high temperature to extract hydrogen and carbon monoxide.Hydrogen is employed in a variety of applications ranging from chemical processing, fuel cells, oil recovery and refining to metal production. Of these, hydrogen call is highest in the oil refinery and ammonia production segments. The transportation industry also promises enormous expansion opportunities for the market, as it is predicted to become one of the main consumers of hydrogen in the coming years.
Taking into account the expansion observed in these segments and the industrialization in emerging countries, the future of the world steam methane reform market looks very positive. In addition, the use of fuel cells has increased dramatically in recent years, accelerating sales opportunities in the steam methane reforming market. As industries turn to smaller portable products, the call for steam methane reformers is predicted to increase even further in the future.
Shell introduces "blue" hydrogen technology. SHELL Catalysts & Technologies that licenses technologies and brings capacity to industry, has introduced the Shell Blue Hydrogen Process.
Escalatingcall around the world is a determining factor for the segment, as steam reforming of methane is the most economical method for hydrogen production. The call for clean green fuel is predicted to increase exponentially in the coming years, with escalating levels of pollution coupled with escalating government regulations to control and reduce the sulfur content of fuels. This factor should stimulate the market. The United States is among the world's early adopters of clean energy solutions for industries such as power generation, manufacturing, and transportation. The US Department of Energy (DOE) and the Department of Transportation (DOT) submitted a hydrogen posture plan in December 2006. The purpose of this plan was to improve R&D and validate technologies that can be use. employed to establish a hydrogen infrastructure. In addition, this plan provided for the deliverables established by the federal government to support the development of the hydrogen infrastructure in the country. The plan has been developed in accordance with the National Hydrogen Energy Vision and Roadmap. Hydrogen producers in the United States are looking to expand their geographic reach and target countries such as Vietnam, Indonesia, South Africa and other developing countries, to increase their income. US-based market players such as Praxair Inc. and Air Liquide are looking to expand their businesses in countries where hydrogen call is escalating, as part of their strategic expansion plans. The North American market for hydrogen production has been growing for several years, at a sustained rate thanks to the contributions of each application and technology. The application of hydrogen in the production of methanol and the production of ammonia is developing at a high rate in the area.
The rising application of hydrogen in various industries is likely to be the main driving factor. Hydrogen is produced using many resources such as natural gas, biomass, coal, and various other renewable and non-renewable energy sources. Currently, natural gas is the main source of hydrogen production, and steam methane reformers using natural gas are employed primarily for production. However, in recent years the adoption of more recent technologies such as electrolysis and pyrolysis production has been encouraged.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2020 – 2025 |
|
Base Year |
2020 |
|
Forecast Period |
2021 - 2026 |
|
CAGR |
4.78% |
|
Segments Covered |
By Product, Type, Consumption, Distribution Channel and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
CB&I Company, Linde AG, Chevron Lummus Global LLC, Axens, Foster Wheeler, DuPont, KBR Inc, Haldor Topsoe, GTC Technology, Shell Global Solutions, Flour Corporation, Exxon Mobil |
By technology:
Steam methane reforming is a method of producing hydrogen, along with other gases, including carbon monoxide and carbon dioxide. It is a mature and advanced technology in hydrogen production. Growingcall around the world is a determining factor for the segment, as steam reforming of methane is the most economical method for hydrogen production.
By systems:
Merchants emerged as the dominant segment in terms of revenue in 2019. However, the Captive Systems segment is predicted to grow at the highest CAGR in terms of revenue over the outlook period. Socio-economic developing regions, particularly North America and Europe, have large-scale penetration of this technology given the ease of adoption. Captive hydrogen generation is defined as on-site generation that eliminates various problems associated with hydrogen transportation and distribution. Therefore, the market is supposed to experience substantial expansion. For small industries, on-site hydrogen production has gained popularity with new technologies that are offered at reasonable costs compared to the distributed channels provided.
By application:
Methanol production has become the dominant segment in terms of revenue in 2019 and is determined to grow at the fastest CAGR over the forecast period. Methanol is recognized as a useful chemical and a promising component for the production of more complex chemical compounds such as methyl tert-butyl ether, acetic acid, dimethyl ether, methylamine, and others. Methanol is the simplest alcohol, appears as a transparent liquid with a distinctive odor.
Regionally, Asia-Pacific currently holds the majority share of the worldwide steam methane reforming market. With the escalating number of petrochemical complexes and refineries in the region, the steam methane reforming market is predicted to accelerate in Asia-Pacific in the coming years. In addition, the large populations of the major economies in Asia and the Pacific also support the call for hydrogen and thus methane reformers in various sectors.
In the coming years, Europe is expected to become a lucrative market for steam methane reformers. However, experts find that the call profiles in the Eurasian countries and in Europe are very different from each other. Although Russia has huge petrochemical capacity and large refineries, the refinery industry in Europe is slowly declining. On the other hand, in Europe, the transport sector should continue to be a large consumer of hydrogen and, therefore, of steam methane reforming. Because the market is almost mature in North America, it is projected to show slower expansion in the region.
In 2019, large capacity additions and slower callexpansion resulted in a decline in the industry value pool. This decline was further boosted in the year 2021 by the coronavirus pandemic. The effect of this virus on thecall for petrochemicals has not been even across value chains, with automotive and building applications showing veryhigh declines, and call for packaging remaining on peak. Reasons for the latter include warehousing, an increase in delivery services, and increased activity focused on healthcare, all in response to the pandemic. Despite the closure of some factories in some geographies, industry players have coped well with the short-term shock and are now planning for the medium term.
Besides identifying growth drivers, key restraints, and opportunities, the report also profiles some of the leading players operating in the global steam methane reforming market. Some of these companies are CB&I Company, Linde AG, Chevron Lummus Global LLC, Axens, Foster Wheeler, DuPont, KBR Inc, Haldor Topsoe, GTC Technology, Shell Global Solutions, Flour Corporation, Exxon Mobil, and UOP among others
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Steam Methane Reforming Market, By Technology
6.1.1 Coal Gasification
6.1.2 Steam Methane Reforming
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Steam Methane Reforming Market, By Application
6.2.1 Methanol Production
6.2.2 Ammonia Production
6.2.3 Petroleum Refinery
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Steam Methane Reforming Market, By System
6.3.1 Merchant
6.3.2 Captive
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Technology
7.2.3 By Application
7.2.4 By System
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Technology
7.3.3 By Application
7.3.4 By System
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Technology
7.4.3 By Application
7.4.4 By System
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Technology
7.5.3 By Application
7.5.4 By System
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Technology
7.6.3 By Application
7.6.4 By System
8. Key Player Analysis
8.1 CB&I Company
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Linde AG
8.3 Chevron Lummus Global LLC
8.4 Flour Corporation
8.5 Foster Wheeler
8.6 DuPont
8.7 KBR Inc
8.8 Haldor Topsoe
8.9 GTC Technology
8.10 Shell Global Solutions
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
