ICS: New hydrogen demand report reveals once in a generation opportunity

Guy Platten, ICS Secretary General states:

"For global hydrogen demand to keep the net-zero by 2050 scenario within reach, demand for hydrogen-based fuel sources would need to scale five times from current levels to reach approximately 500 million tonnes from 2030 to 2050. One of the main takeaways in this report is the high variability in potential demand. Industry will dominate the hydrogen demand. Shipping however can play a key role as an enabler to the hydrogen economy."

The report highlights three economies as the main markets to initially drive hydrogen demand – South Korea, Japan and the EU. Europe has a target of 20 million tonnes of hydrogen per year by 2030, with half of that volume to come from imported sources.

Professor Ulreich added:

"What we are seeing is that the annual hydrogen demand would mean increasing the fleet to transport hydrogen by ship. To meet a global increase if 30 million tonnes of hydrogen traded worldwide, we could need up to 411 new hydrogen vessels (for long distances) or up to 500 vessels if transported as ammonia."

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