Green Hydrogen Is Estimated To Witness High Growth Owing To Opportunity To Reduce Carbon Emissions

Green hydrogen is produced through the electrolysis of water using renewable energy sources like wind and solar. It is seen as a promising clean energy alternative to fossil fuels with potential applications in various sectors including transportation, buildings and industry. As concerns over climate change grow, hydrogen produced from renewable electricity without any carbon emissions can play a vital role in decarbonizing industries that are otherwise difficult to electrify like aviation, shipping and steel making.

The global green hydrogen market is estimated to be valued at US$ 861.82 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity to significantly reduce carbon emissions from hard-to-abate sectors presents a major market opportunity for green hydrogen. Transportation accounts for nearly a fourth of global greenhouse gas emissions. While battery electric vehicles are gaining ground in passenger cars, heavy-duty vehicles like trucks, ships and planes remain highly dependent on liquid fuels. Production of zero-carbon hydrogen from renewable resources and its subsequent use as a fuel can help decarbonize these sectors. Similarly, industries like steel and chemical manufacturing which produce vast amounts of CO2 can switch to hydrogen as a replacement for fossil fuel inputs. Transitioning to green hydrogen production and utilization at scale can thus enable countries and corporations to achieve ambitious climate targets andtransition to net zero emissions economies over the long run.

Porter's Analysis
Threat of new entrants: The C5 Resins market requires high capital investment into R&D for developing new C5 resin products. Established players enjoy economies of scale which make it difficult for new players to enter.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of various resin products. However, specialized application of C5 resins provides buyers less alternatives.

Bargaining power of suppliers: A few oil refineries producing C5 fractions makes suppliers enjoy high bargaining power regarding pricing and supply.

Threat of new substitutes: New sustainable bio-based resin alternatives pose threat to C5 resins. However, limited production of bio-resins currently makes threat moderate.

Competitive rivalry: The market is moderately competitive due to presence of key players. Companies compete on pricing and differentiating product offerings.

SWOT Analysis

Strengths:Specialized C5 resin properties suit niche applications. Established production facilities and distribution network.

Weaknesses: Heavy reliance on crude oil prices increases production costs. Limited research into new applications.

Opportunities: Expanding into related chemical product segments can leverage existing capabilities. Growth in end-use industries such as paints & coatings offers opportunity.

Threats: stringent environmental regulations can affect operations. Substitution threat from bio-based resins looms large.

Key Takeaways
The global C5 Resins market size is projected to reach US$ 1.2 Bn by 2030 growing at a CAGR of 8.2% during forecast period.

North America dominated in 2023 with over 30% share due to large paints & coatings industry in the region.

Key players operating in the C5 Resins market are Afterpay, Holdings Inc., Klarna Bank AB, Laybuy Group Holdings Limited, Payl8r (Social Money Ltd.), PayPal Holdings Inc., Perpay, Quadpay, Sezzl, Splitit. The market is witnessing consolidation as major players acquire niche firms for expanding product portfolio and geographical reach. C5 Resins find significant usage in specialty applications such as hot melt adhesives, coatings, rubber processing, and industrial usage.

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