Global Markets has released a new report on hydrogen purification in refining. The report focuses on the market for hydrogen purification in the petroleum refining industry. The base year for the report is 2014, and the market forecasts are provided for the period from 2015 to 2020. The global hydrogen purification market in the petroleum refining industry was nearly US$7.1 billion 2014. The market is expected to reach nearly US$9.9 billion by 2020 from nearly US$7.5 billion in 2015, increasing at a compound annual growth rate (CAGR) of 5.7% from 2015 to 2020.
The North American market is expected to grow from nearly US$1.9 billion in 2015 to US$2.1 billion in 2020 at a CAGR of 3% for the period 2015 – 2020. While the Asia-Pacific market will grow from US$2.1 billion in 2015 to US$3 billion in 2020 at a CAGR of 7.4% for the period 2015 – 2020.
Hydrogen is used extensively in the refining industry in the various processes within a refinery, and thus, it is among the major costs for the refinery. Hydrogen is also a major component in the off gases generated from the refinery processes. Historically, these off gases were flared or used as energy sources by burning, but with tight refining margins and improvements in the technology for purification, these off gases are being purified to obtain hydrogen that can be reused in the processes. In this scenario, hydrogen purification and the technologies that combine hydrogen purification and compression to obtain purified hydrogen are gaining increased importance.
Hydrogen is a byproduct from the industrial processes of other industry segments, including the metal, petrochemical and semiconductors. This report focuses exclusively on the hydrogen purification market in the refining industry. The refining industry is among the major consumers of hydrogen. The off gases with high presence of hydrogen from the various processes in the refinery represent major sources for purification. In this scenario, the market for the providers of hydrogen purification equipment and technology to purify the off gases to obtain high-purity hydrogen is expected to continue to grow in the future.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/10032017/hydrogen-purification-in-refining/