New York, May 15, 2023 (GLOBE NEWSWIRE) -- In 2022, global green ammonia market was recorded valued at USD 74.48 million and is expected to reach USD 20,919 million in 2032. This market is estimated to register a CAGR of 78.2% between 2023 and 2032.
The ammonia which is produced without using fossil fuels like wind or solar energy is referred to as green ammonia. It could potentially serve as a zero-carbon fuel for shipping applications or other heavy-duty transportation needs; additionally, ammonia is already widely used in industrial operations and fertilizer applications - creating an ample market for green ammonia. As an environmentally friendly alternative to traditional ammonia production techniques, which produce significant greenhouse gas emissions, green ammonia offers several benefits.
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Key Takeaway:
- By technology, in 2022 alkaline water electrolysis technology is dominant in the market.
- By sales channel, the direct sale is happened in large quantities, because large orders are given directly to producers.
- By application, in the agriculture sector, the use of green ammonia is higher as a fertilizer.
- In 2022, the Europe region dominates the market with a share of 39%.
- APAC is anticipated to have the highest CAGR among all the regions.
Factors affecting the growth of the Green Ammonia industry
Several factors affect the growth of the green ammonia industry. Some of these factors include:
- Government Support: Government assistance in the form of subsidies, tax incentives, and supportive policies can encourage investment in green ammonia production and boost demand for its use across various applications.
- Sustainability Goals: With an increasing emphasis on sustainability and reducing carbon emissions across various industries, green ammonia is becoming an increasingly sought-after sustainable alternative.
- Agriculture Industry: Agriculture, which heavily relies on ammonia-based fertilizers, is increasingly seeking sustainable alternatives such as green ammonia.
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Top Trends in Green Ammonia Market
One of the most important trends is the increased focus on green hydrogen and its importance in green ammonia manufacturing. The use of green hydrogen in green ammonia production can reduce greenhouse gas emissions significantly because it is made from renewable energy sources. The development of innovative business models for green-ammonia production and distribution is another important trend.
Market Growth
In the coming years, there is expected to be an exponential rise in demand for environmentally friendly alternatives to conventional fossil fuels and energy sources, driving growth within the global market for green ammonia. This market produces, transports, and uses green ammonia-based goods such as fertilizers, energy storage devices, and transportation fuels. Agriculture is a major user of ammonia-based fertilizers, contributing significantly to the size and scope of this sector. The interest in green ammonia as a potential carbon-free fuel for transportation is growing. To support this expansion, infrastructure development such as pipelines, storage facilities, and transit networks is necessary to support it.
Regional Analysis
With 39% of the global market, Europe is the largest consumer of green ammonia. Major actors in Europe and the rising demand for renewable energy are to blame for this. Due to numerous projects and government initiatives that support its use in shipping and other heavy-duty transport uses, the Netherlands in particular has developed into a significant hub for the production of this fuel. Due to its rising interest in sustainable energy sources and programs meant to reduce greenhouse gases, North America is also taking part in this field more and more.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 74.48 million |
| Market Size (2032) | USD 20,919 million |
| CAGR (from 2023 to 2032) | 78.2% |
| Europe Revenue Share | 39.0% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The demand for clean energy is rising, environmental consciousness is rising, and government efforts to promote sustainable energy solutions are some of the factors driving the global green ammonia market. There has been a global push to reduce carbon emissions and move to renewable sources like wind, solar, and hydropower, which are seen as an environmentally friendly alternative to conventional ammonia production methods that heavily depend on fossil fuels, as a result of growing worries about climate change. Instead, green ammonia manufacturing makes use of these renewable energies.
Market Restraints
One important obstacle is the expensive production of green ammonia, which is currently much more expensive than traditional ammonia production methods. Production of green ammonia on a large scale necessitates complex infrastructure, cutting-edge technology, & expensive renewable energy sources. The lack of reliable green ammonia supply networks is another major obstacle to this industry's expansion.
Market Opportunities
The global green ammonia market presents several opportunities for growth & innovation. One of the significant opportunities is the increasing demand for sustainable energy solutions. The world is rapidly transitioning towards renewable energy sources, and green ammonia provides an excellent opportunity to meet this demand. Another significant opportunity for the green ammonia market is the development of new and innovative production technologies.
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Report Segmentation of the Green Ammonia Market
Technology Insight
Alkaline water electrolysis technology holds a 46% market share, making it the undisputed leader in this industry. Alkaline electrolytes are employed in alkaline water electrolysis to separate anode and cathode compartments - an ancient technique for creating hydrogen. Alkaline water electrolysis requires higher temperatures and pressures than PEM (polymer electrolyte membranes) electrolysis due to its more complicated setup; PEM uses it instead, which also separates the sections during proton exchange membrane electrolysis.
Sales Channel Insight
With a market share of about 59%, the direct sales channel dominates. Direct sale refers to the sale of green ammonia by the maker or producer to the client or consumer. Large-scale industrial clients who need green ammonia in large amounts frequently use this sales channel. Green ammonia is sold to the consumer or end-user indirectly by way of middlemen like distributors or resellers. Smaller-scale clients who need fewer bottles of green ammonia frequently use this sales method.
Application Insight
Green ammonia can be used as fuel for transportation, particularly heavy-duty vehicles like trucks and buses. Ammonia fuel cells may even be employed on ships. Green ammonia may also be utilized in power generation through gas turbines or combustion engines with other fossil fuels like natural gas - either alone or combined. Ammonia plays an integral role in the production of various industrial chemicals like fertilizers, plastics, and pharmaceuticals - particularly nitrogen-based fertilizers that boost crop growth. Green ammonia production could produce sustainable fertilizers without contributing to climate change issues.
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Market Segmentation
Based on Technology
- Proton Exchange Membrane
- Alkaline Water Electrolysis
- Solid Oxide Electrolysis
Based on Sales Channel
- Direct Sale
- Indirect Sale
Based on Application
- Transportation
- Power Generation
- Industrial Feedstock
- Fertilizer
- Other Applications
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
The market for green ammonia now has a chance due to the desire for renewable energy sources and the requirement to lower greenhouse gas emissions. Only a few big players currently dominate this market, but it is anticipated that these players will play an even bigger part in its growth in the years to come. Additionally, because this market is still in its infancy, new players have the chance to join and take the largest possible share before established players.
Some of the major players include:
- Nel Hydrogen
- Siemens Energy
- MAN, Energy Solutions
- ThyssenKrupp AG
- ITM Power PLC
- Hydrogenics
- Green Hydrogen Systems
- McPhy Energy
- Electrochaea
- EXYTRON
- AquaHydrex
- Enapter
- BASF SE
- Other Key Players
Recent Development of the Green Ammonia Market
- In January 2022: Yara International announced intentions to erect a 1.2 million tons per year green ammonia production facility in Norway. One of the biggest green ammonia production facilities in the world is anticipated to result from this initiative.
- In December 2021: The Netherlands revealed plans to construct a green ammonia import terminal in December 2021, which will aid in the expansion of the green ammonia market in Europe.
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