How is Depletion of Fossil Fuels Leading to Increasing Demand for Hydrogen?
The fertilizer industry uses high-volume of hydrogen to manufacture fertilizers, especially ammonia that is used to create nitrogen-based fertilizers. Ammonia is widely used in agricultural activities to maintain crop nutrition and increase productivity. Due to the declining area of arable land, the requirement for ammonia has grown significantly. Owing to this demand, the hydrogen market is expected to increase its size from $136,185.0 million in 2019 to $196,934.5 million by 2030. According to P&S Intelligence, the market will accelerate at a CAGR of 4.3% during the forecast period (2020–2030). To learn more about this report: https://bit.ly/3mbPh5d On account of the rising demand, hydrogen is being produced through several processes that include coal gasification, partial oxidation, steam-methane reforming, electrolysis, fermentation, ammonia cracking, renewable liquid reforming, and methanol-reforming. Among these processes, companies mostly opt for steam-methane reforming...