Latin America and the Caribbean Hydrogen Market Analysis by Application Areas, Upcoming Projects, Policies and Key Players to 2030

Latin America and the Caribbean Hydrogen Market Report Overview

The current Latin America and the Caribbean active hydrogen capacity stands at 0.48 ktpa. The environmental conditions across Latin America and the Caribbean (LAC) create the opportunity for a vast array of renewable resources that can be harnessed for green hydrogen production, including wind, solar, biomass, and hydropower. However, water availability may pose a problem to hydrogen production in the region’s most arid areas. Brazil, Chile, Panama, and Argentina have the most upcoming green hydrogen capacity. Although, other countries are also demonstrating keen interest in the sector. The strong potential for renewable energy means that despite existing hydrocarbon production in several LAC countries, all active and upcoming plants are green hydrogen, not blue.

Latin America and the Caribbean hydrogen market research report offers hydrogen market analysis in the region, total upcoming capacity, and 2030 market size scenarios, highlighting recently announced projects by capacity. The report also offers insights into the demand for hydrogen across different application sectors with national and regional policy support and financial incentives.

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Latin America and the Caribbean Hydrogen Market Segmentation by Countries

The key countries in terms of green hydrogen demand in Latin America and the Caribbean are Brazil, Panama, Chile, Argentina, and Paraguay among others. Brazil is set to become a leader in the regional low-carbon hydrogen market. Brazilian plants account for more than 47% of LAC’s total active and upcoming hydrogen capacity.

Latin America and the Caribbean Green Hydrogen Market Analysis by Countries, 2030 (%)

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Latin America and the Caribbean’s Largest Upcoming Hydrogen Projects

Some of the largest upcoming hydrogen projects in Latin America and the Caribbean are the GHI Fleur-de-lys Green Hydrogen Hub Project, GHI Spirit of Scotia Hydrogen Hub Project, H2 Clean Energy Penzhinskaya Bay Hydrogen Plant, ACME Group Ain Sokhna Hydrogen Project, and Western Green Energy Hydrogen Plant among others. The H2 Clean Energy Penzhinskaya Bay Hydrogen Plant Project held the highest plant capacity.

Latin America and the Caribbean Hydrogen Market Analysis by Upcoming Hydrogen Projects, 2030 (%)

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Latin America and the Caribbean Hydrogen Market Segmentation by Use Sectors

The key use sectors in the Latin America and the Caribbean hydrogen market are transportation, ammonia, chemicals, power, oil refining, synthetic fuels, and gas grid among others. Transportation is the most common end-use sector for hydrogen produced in Latin America and the Caribbean. Much of the hydrogen produced would likely be exported to markets in North America, Europe, or Asia. In fact, conversion to ammonia is an attractive option for transporting due to less of a cooling requirement, especially over long distances.

Latin America and the Caribbean Hydrogen Market Analysis by Application Areas, 2030 (%)

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Latin America and the Caribbean Hydrogen Market – Regional Policies and Strategies

Brazil – Baseline to support the Brazilian Hydrogen Strategy: It addresses important conceptual and fundamental aspects to support the Brazilian hydrogen strategy. Publication planned for 2023. Provides costs and competitiveness of hydrogen as well as the country’s challenges for market development of hydrogen use.

Chile – National Green Hydrogen Strategy (2020): The policy is to allow abundant renewable resources for the production of green hydrogen at $1.30/kg by 2030 in some regions. It will also ensure the supply of domestic demand in the short term, including traditional uses and heavy-duty/long-range transport.

Latin America and the Caribbean Hydrogen Market – Competitive Landscape

Some of the key companies in the Latin America and the Caribbean hydrogen market are Engie’s Energia Chile, Ecopetrol, BW Offshore, Colbun, Central Puerto, EDP, and Enel among others. Engie’s Energia Chile led the market in 2023.

Engie: Engie’s Chilean subsidiary is responsible for the most mentions in the region, with some from its Brazilian corporation as well. Engie is part owner and future operator of two upcoming green hydrogen plants in Chile and one in Brazil.

Latin America and the Caribbean Hydrogen Market Analysis by Companies, 2023 (%)

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Scope

• Hydrogen country market analysis
• Total upcoming capacity and 2030 market size scenarios, highlighting recently announced projects by capacity.
• Demand across different application sectors.
• National policy support and financial incentives

Key Highlights

• Over the last 10 years, the cost of generating electricity from onshore wind and solar has fallen by 35% and 76%, respectively, and is foreseen to continue falling by another 4% and 10% respectively by 2025.
• With a high incidence of solar radiation, Northern Chile’s Atacama Desert has some of the best solar resources in the world. The southern regions of Chile and Argentina and the Caribbean coast of Colombia also have excellent wind resources.

Reasons to Buy

• Identify the market trends within the country and key players in hydrogen technologies.
• Develop market insight of current, development and announced capacity, and latest trends of the sector.
• Understand the region’s different scenarios for 2030 based on the likeliness of the projects.
• Look at the demand in key application areas for the region.
• Facilitate the understanding of how and where the market is growing as it is rapidly scaling up to position as one of the main topics of the international and national agenda.