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The Global Hydrogen Boom has Already Began Due to Success in Traditional Markets, a new Visant Strategies Study finds
Kings Park, NY - Energy and transportation applications will contribute to the doubling of hydrogen use over the next five years but obstacles remain to a green hydrogen economy, a new Visant Strategies report finds.
"Producing hydrogen at a reduced cost is the greatest challenge facing the hydrogen industry today," said study author Dan Sweeney. "Hydrogen prices are acceptable today for industrial uses but must decline greatly if we are to realize the hydrogen economy many are touting. A successful foray into energy and transportation uses is going to take a lot of effort, change and funds," said Sweeney
Some of these changes, according to the report, include new methods for the distribution and production of hydrogen for fuel cell and hydrogen internal combustion engine use as well as the industrial retooling of the auto industry and other industries within the hydrogen economy.
"There is also still much competition expected as well from other technologies in development or in nascent use such as advanced batteries and new energy sources, including renewable energy sources," Sweeney said.
While the move to energy and transportation applications will help contribute to the doubling of hydrogen use to 40 million metric tons globally in 2010, according to the report, it is the industrial users that will drive the expansion.
Hydrogen use in petroleum refining, unconventional oil refining, semiconductor fabrication and annealing stainless steel and ferrous metals will grow through 2015, according to the study. Other traditional hydrogen markets such as galvanizing and brazing operations, sintering, use in the float glass industry and hydrogenation will also continue to utilize more hydrogen as the decade progresses.
"World Hydrogen 2006: Established and Emerging Markets" also examines annual sales and revenues of electrolysers, large stream reformers and small reformers along with annual production levels of Methanol, ammonia and hydrogen through 2010.
Hydrogen Fuel cell use for stationary, transportation and mobile applications are examined along with alternative fuels. Also detailed is the plausibility of renewable energy sources taking foothold and how hydrogen will be used in this scenario.
For more information callf Visant Strategies at (631) 544-6449 or email info@visantstrategies.com or go to www.visantstrategies.com.
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