Spain - Hydrogen - Market Analysis, Forecast, Size, Trends And Insights
Spain's Hydrogen Price Hits New Record of $1.6 per Cubic Meter
Spain Hydrogen Import Price in October 2022
In October 2022, the hydrogen price amounted to $1.6 per cubic meter (CIF, Spain), picking up by 57% against the previous month. In general, import price indicated a strong expansion from January 2022 to October 2022: its price increased at an average monthly rate of +8.6% over the last nine months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2022 figures, hydrogen import price increased by +71.9% against August 2022 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of origin: the country with the highest price was Portugal ($7.8 per cubic meter), while the price for the Netherlands totaled $1.6 per cubic meter.
From January 2022 to October 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.8%).
Spain Hydrogen Imports
In October 2022, approximately 280K cubic meters of hydrogen were imported into Spain; growing by 260% compared with September 2022. In general, imports enjoyed a remarkable increase. The pace of growth was the most pronounced in September 2022 with an increase of 262% m-o-m. Imports peaked in October 2022.
In value terms, hydrogen imports surged to $454K (IndexBox estimates) in October 2022. Over the period under review, imports recorded a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Spain Hydrogen Imports by Country
In October 2022, the Netherlands (279K cubic meters) was the main hydrogen supplier to Spain, with a 100% share of total imports. It was followed by Portugal (11 cubic meters), with less than 0.1% share of total imports. From January 2022 to October 2022, the average monthly growth rate of volume from the Netherlands amounted to +8.3%.
In value terms, the Netherlands ($452K) constituted the largest supplier of hydrogen to Spain, comprising 99% of total imports. The second position in the ranking was held by Portugal ($86), with less than 0.1% share of total imports. From January 2022 to October 2022, the average monthly rate of growth in terms of value from the Netherlands totaled +17.8%.
Factors Affecting Hydrogen Prices
Hydrogen is one of the most abundant elements in the universe, and it has the potential to be a clean and sustainable energy source. However, the price of hydrogen varies widely from country to country. In Spain, the price of hydrogen is relatively high compared to other countries. There are several factors that contribute to this high price.
First, Spain has a very limited production of hydrogen. Most of the country's hydrogen is imported from other countries, which drives up the cost. Second, Spain has a relatively small market for hydrogen compared to other countries. This small market means that there are fewer buyers and sellers, which can lead to higher prices. Finally, the Spanish government imposes a number of taxes and regulations on hydrogen production and consumption. These taxes and regulations add to the cost of hydrogen in Spain.
This report provides an in-depth analysis of the hydrogen market in Spain. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
Join our live webinar to get insights into the global anhydrous ammonia market.
Tuesday, June 15th, 2021 @ 04:00 pm ET
Join our live webinar to get insights into the global biodiesel market.
Thursday, June 10th, 2021 @ 04:00 pm ET
Join our live webinar to get insights into the global hydrogen market.
Tuesday, May 25th, 2021 @ 04:00 pm ET