The study delves into the economic feasibility of utilizing carburization reactions in novel chemical looping reforming processes, leveraging transition metal oxides, particularly tungsten, to facilitate hydrogen production from natural gas. Three distinct pathways are analyzed, focusing on total capital investment, operational expenses, and hydrogen production costs, further explored through sensitivity analysis. The first pathway involves a chemical looping reforming reactor utilizing air as the combustion agent for carbides (referred to as the CS case). The second pathway integrates air separation units to produce high-purity oxygen, used as the combustion agent for carbides (referred to as ASU-CS case). The third pathway mirrors the CS case but incorporates a monoethanolamine carbon capture unit (referred to as the CS-CCU). The results indicate that the ASU-CS system, which has the highest capital and operational costs, emerges as the most economically viable option, showcasing an average 49.6% reduction in hydrogen costs compared to the other pathways examined, when considering the revenue from side products (nitrogen and argon). Moreover, when compared to existent alternative hydrogen production technologies, the ASU-CS system demonstrates an impressive 43.6% average reduction in hydrogen costs, particularly when carbon costs are excluded from the analysis across all systems assessed. These findings highlight the promising economic prospects of integrating carburization reactions into chemical looping reforming processes, with significant implications for advancing sustainable hydrogen production technologies.