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The rising use of hydrogen in petroleum industries is propelling the expansion of the global hydrogen market. The opposite end-user industries for hydrogen embody steel processing industries, chemical manufacturing, pharmaceuticals, and meals processing. The demand for hydrogen in petroleum refining has increased considerably over the last few years, owing to stringent motorcar emissions laws imposed by numerous governments. Developed nations comply with the most recent emission laws; whereas, developing international locations frequently revise laws. The rising per capita car ownership and consequential demand for petroleum is fuelling the demand for hydrogen globally. Apart, their scope in refineries as a chemical compound further acts as a driving factor for thehydrogen market.

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Some of the other drivers behind the growing world demand of hydrogen embrace growing demand of hydrogen from refinery hydro-processing industry, and growing concept of energy-to-gas. Energy-to-gas idea is designed to conserve energy and optimally utilize renewable sources. Methanation is one in all the most important processes of the power-to-gas cycle, which produces methane. Hydrogen is without doubt one of the essential raw supplies for methanation, the place it combines with carbon dioxide and produces methane. Rising utilization of this system is additional fuelling the demand of hydrogen gas.

On the basis of manufacturing and supply, the worldwide hydrogen market will be segmented into merchant manufacturing and captive production. On the premise of manufacturing process, the hydrogen market may be categorized as gasification of coal, steam reforming of pure gases, partial oxidation of hydrocarbons, electrolysis of water, and others. On the premise of software, the hydrogen market will be labeled as petroleum refinery, chemical production, food processing, pharmaceutical, steel processing, and others.

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Though environmental legislations are increasing international hydrogen consumption for purification and better quality products anticipated to supply additional growth alternatives for hydrogen market, one among the main challenges to the worldwide hydrogen market is unstable global oil refining capacity. The oil refining business is a significant end-consumer of hydrogen gasoline. Instability on this business is severely affecting the expansion of the hydrogen market. There is major instability in Western Europe, the place refining capability is constantly declining since 2011. Based on the Organization of the Petroleum Exporting Nations (OPEC), the oil refining capacity of Western Europe was decreased from 15,155.9 (thousand barrels per calendar day) in 2011 to 14,097.6 (thousand barrels per calendar day) in 2013.

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