“Commercial, transportation and heavy industries will be the leading sectors where the methane hydrate market will be dominant but currently it is at the nascent stages.”
Methane Hydrate Market: Introduction
Methane Hydrate also known as methane clatharate, hydromethane, methane ice, fire ice, natural gas hydrate, or gas hydrate. It is a type of clathrate compound, in which methane is trapped within a crystal of water forming a solid structure like ice. Methane hydrate are believed to be produced from the precipitation or crystallization of methane from geographical faults. Methane hydrate has an ice like appearance and in presence of an open flame it is combustible. Naturally methane hydrates are found in continental sedimentary rocks in Polar Regions where the average temperature is less than 0°C, or in oceanic sediment below the sea level 300 m where also the temperature is lower than 2°C. Methane hydrates are used to produce fuels for transportation. The compound methane hydrate is believed to have more energy than coal, gas and oil combine. Methane Hydrate is used in storage of natural gas, gas separation, carbon dioxide disposal and desalination. Methane hydrate has a very high concentration of methane which is a source of energy greater than oil, gas and coal combined. The Methane Hydrate market is at a developing stage as some countries re trying to find technologies.
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Methane Hydrate Market: Dynamics
To cater the required fuel for consumption by the transportation and automotive sector in turn will drive the methane hydrate market in the future as it is a potential source of immense energy. Also, Methane Hydrate has the potential to produce natural gas at a very large scale, with large deposit spread across the globe methane hydrate market will be driven by industrial sector and from commercial usage e.g. marine, off-road vehicles, etc. Transportation and heavy industries will be the leading sectors where the methane hydrate market will be dominant but currently it is at the nascent stages. However, as the process to extract methane hydrate is expensive, few organizations fall in the bracket of affording such technologies. The high cost for extraction as methane hydrates are found below seabed in extreme conditions or in the earth’s crust which are hard to extract, is thus holding back the potential growth of methane hydrate market. Inefficiency of extraction process is considerably very high, however the results can potentially lead to methane hydrate being an energy resource, a geohazard, and/or as an agent of global climate change. The methane hydrate market in upcoming periods does pose as an alternative to replace the depleting conventional energy sources.
Methane Hydrate Market: Segmentation
The Global Market of Methane Hydrate can be segmented by: Source
The Global Market of Methane Hydrate can be segmented by: Application
- Heavy Industries
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Methane Hydrate Market: Regional Outlook
Methane Hydrate falls under a segment of a potential compound so not all regions are focus towards the technological advancement of methane hydrate. Japan and U.S. launched a research program to develop Methane Hydrate exploratory projects for drilling as they have high reserves of methane hydrates. Nankai Trough in region of Japan has a high reserve of methane hydrate which can fulfil the requirements of Japan for a long time. Regions like India, China and Republic of Korea have invested in large research and development establishments for methane hydrate. Asia-Pacific has an extraordinary source of methane hydrate at its disposal. Methane Hydrate are known to occur in sand-dominant reserves in sea and soil at a high concentration, regions like northern Alaska, Canada, gulf of Mexico, Japan, India have methane hydrate reserves and are suitable for field experiments. U.S and India hold major reserves of methane hydrate and other gas hydrate. In the next coming decades the oil reserves in the Middle-East will deplete and a viable alternative will be required, the Middle-East possess the economic strength to diversify their business portfolio, and shift to methane hydrate for their energy needs. African countries also have large methane hydrate reserves. Future exploration of methane hydrates is shifting to regions like Eastern Africa, Southern Africa, Western and Central Africa, Southern Ocean and maybe Latin America and the Caribbean.
Methane Hydrate market: Key participants
Some of the market participants identified across the value chain of the Benzalkonium Bromide market are listed below:
- Japan Oil and Metal National Corporation
- PetroChina Company Ltd.
- Statoil ASA
- ConocoPhillips Corporation
- Chevron corporation
- Woodside Inc.
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