According to a research analysis conducted by ChemView Consulting, in 2022, the worldwide green ammonia market was worth US$ 24.6 Mn. It is expected to grow at a CAGR of 78.6% over the forecast period. The market is expected to hit US$ 6,780.0 Mn by 2032 end.
Over the next assessment period, a combination of factors such as implementing zero-carbon policies worldwide, favorable government policies and subsidies, and the high cost of producing conventional grey ammonia compared to green ammonia.
Some of the major green ammonia projects are as follows:
- Dyno Nobel — Moranbah, Australia
- Yara — Pilbara, Australia
- Enaex — Antofagasta, Chile
- Proton Ventures / Siemens / Yara — Netherlands
Green ammonia demand is being fueled by stricter emissions regulations and a focus on zero-carbon energy goals. In 2032, the green ammonia market is expected to account for 3.0% – 3.5% of the global ammonia market.
Green Ammonia Market 2022-2032: Report Coverage and Highlights
- Detailed information on factors that will assist Global Cosmetic Ingredient’s growth during the next eight years
- Assessment of the historical and current Global Cosmetic Ingredients market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
- The growth of the Green Ammonia across North America, Europe, East Asia, South Asia & Pacific, Latin America, the Middle East, and Africa
- Segment-wise, country-wise, and region-wise market analysis
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
For More Details Visit Our Report Page: https://chemviewconsulting.com/reports/green-ammonia-market/
Key Takeaways
Why is the demand for green ammonia expected to remain high in the fertilizer sector?
The fertilizer segment currently dominates the global green ammonia market by end use and is expected to grow at a rate of approximately 67.9% between 2022 and 2032. This is due to the increasing use of green ammonia in the production of environmentally friendly fertilizers, as well as increased government efforts to promote fully carbon-free agriculture activities.
Region-Wise Analysis
- During the forecast period, the United States is expected to remain one of the world’s fastest growing markets for the production and consumption of green ammonia. Green ammonia market growth in the United States is being influenced by the presence of leading green ammonia manufacturing companies and key technology providers, the implementation of stringent regulations, and the growing trend of using green fertilizers.
- The European Green Ammonia Market is dominated by a few globally established players, including Siemens (Germany), NEL Hydrogen (Norway), ThyssenKrupp (Germany), ITM Power (UK), and McPhy Energy (France). Green ammonia plants in Europe are currently profitable, despite the fact that such facilities were not expected to compete with grey or blue ammonia plants until the mid-2032s.
Competition Summary
Leading players in the green ammonia market are focusing on various growth strategies, such as establishing new manufacturing facilities, launching new green ammonia projects, strengthening distribution channels, and forming alliances and partnerships to expand their presence and cater to the growing demand for green ammonia globally.
Key players operating in the green ammonia market include CF Industries Holdings, Inc, BASF SE, Yara International ASA, Maire Tecnimont S.p.A., ACME Group, Fertiglobe plc, NEL Hydrogen, ThyssenKrupp AG, ITM Power, Holder Topsoe, Green Hydrogen Systems, Greenfield Nitrogen LLC, and Siemens.
Some of the key developments that have taken place in the Green Ammonia market include:
- In 2022, LSB Industries, a fertiliser manufacturer based in the United States, signed agreements with thyssenkrupp Uhde USA and Bloom Energy in to produce approximately 30,000 tonnes of green ammonia per year at LSB’s Pryor, Oklahoma facility. The engineering design for converting a small portion of Pryor’s existing conventional ammonia capacity to green ammonia will be developed by thyssenkrupp Uhde.
- In April 2021, Green Fuel and Haldor Topsoe signed a Memorandum of Understanding (MOU) to identify efficient and scalable technologies for green ammonia production in Iceland. The agreement also allows the two companies to investigate other business opportunities in green ammonia.
Segments Covered in Report
By Technology:
- Alkaline Water Electrolysis
- Proton Exchange Membrane
- Solid Oxide Electrolysis
By End-user:
- Fertilizer
- Transportation
- Power Generation
- Industrial Feedstock
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
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