According to SPER Market Research, Green ammonia is produced using renewable energy sources such as solar or wind power rather than fossil fuels. It is regarded as a promising substitute for traditional ammonia, which is primarily derived from natural gas and contributes significantly to greenhouse gas emissions. The global green ammonia market is expected to expand significantly over the next few years, owing to rising demand for renewable energy and sustainable agriculture. Green ammonia is a key ingredient in many fertilisers and has been shown to improve crop yields, so its use as a fertiliser is expected to be one of the main drivers of market growth.
Green Ammonia Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 73.15%
- Forecast Market Size (2032): 41.97 billion
The green ammonia market is still in its infancy, but it is expected to expand rapidly in the coming years as more countries and businesses invest in renewable energy and decarbonization efforts. However, several challenges remain, such as the high cost of producing green ammonia and the lack of infrastructure for transporting and storing it. Overall, the green ammonia market is a significant opportunity for renewable energy and sustainable agriculture, and it is likely to play a significant role in the transition to a low-carbon economy.
Impact of COVID-19 on the Global Green Ammonia Market
However, world market for green ammonia suffered last year as a result of COVID-19’s expansion. The stringent limitations and nationwide lockdowns put in place by the government in an effort to curb the spread of the deadly virus are having a considerable negative impact on downstream businesses. On the world’s supply networks, it has made a big difference. Yet, there was still a large demand for fertilisers from the agricultural sector during the COVID era. Demand for green ammonia is expected to increase in the near future as the market slowly begins to reopen as a result of higher demand from the maritime industry.
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Green Ammonia Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
By Technology: Based on the Technology, Global Green Ammonia Market is segmented as; Alkaline Water Electrolysis, Proton Exchange Membrane, Solid Oxide Electrolysis.
By End User: Based on the End User, Global Green Ammonia Market is segmented as; Fertilizer, Power Generation, Refrigeration, Transportation, Others.
By Sales Channel: Based on Sales Channel, Global Green Ammonia Market is segmented as; Direct Sale, Indirect Sales
By Region: The Global Green Ammonia market report covers Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States. The European industry is anticipated to be the largest in terms of volume in previous year. A rise in hydrogen fuel technologies and government measures to install hydrogen fuel in residential and commercial sectors are expected to improve the state’s green ammonia industry.
The United States is forecast to continue to be one of the international markets with the fastest rate of growth for the production and use of green ammonia over the course of the projected timeframe. In upcoming years, the country will likely control a sizable piece of the worldwide green ammonia market. The substantial presence of significant green ammonia industrial businesses and intriguing technology sources, the enforcement of tight rules, and the growing use of environmental fertilisers are all having an impact on the U.S. green ammonia industry. In line with this, it is anticipated that during the anticipated time frame, growing investments in environmentally friendly hydrogen, increasing importance of green ammonia as a source of hydrogen, and growing emphasis on the development of alternative energies once more for power and transportation will fuel the demand for sustainable ammonia in the country.
Green Ammonia Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ACME Group, Air Products Inc.,Aker Clean Hydrogen, AquaHydrex ,Ballance Agri-Nutrients, BASF SE, CF Industries Holdings. In,Dyno Nobel, Electrochaea, Enaex Energy, Enapter ,Eneus Energy Limited, ENGIE, EXYTRON, Fertiglobe plc, Fusion-Fuel, Green Hydrogen Systems, Greenfield Nitrogen LLC, H2U Technologies, Inc.,Haldor Topsoe, Hiringa Energy ,Hive Energy,Holder Topsoe,HY2GEN AG,Hydrogenics ,Iberdrola, S.A.,ITM Power,Maire Tecnimont S.p.A.,MAN Energy Solutions, McPhy Energy,Nel Hydrogen ,Origin Energy Limited, Queensland Nitrates Pty Ltd ,Siemens Energy ,Starfire Energy ,ThyssenKrupp AG,Uniper ,Yara International ASA.
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