Green Ammonia Market Overview:
Global Green Ammonia Market size and share is currently valued at USD 476.05 Million in 2024 and is anticipated to generate an estimated revenue of USD 32,572.91 Million by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 69.6% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Key Market Drivers:
- Decarbonization Goals: Growing focus on reducing carbon emissions in agriculture and energy sectors.
- Hydrogen Economy: Use of green ammonia as a hydrogen carrier and energy storage medium.
- Renewable Energy Integration: Increasing reliance on wind and solar energy for green ammonia production.
- Government Support: Incentives and funding for sustainable ammonia projects globally.
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Key Companies in Green Ammonia Market:
- ACME Group
- Yara
- Siemens Energy
- First Ammonia
- Starfire Energy
- ENGIE
- CF Industries Holdings, Inc.
- Uniper SE
- Greenko Group
- BASF
- Allied Green Ammonia Pty Ltd
- ThyssenKrupp AG
- Nel ASA
- ITM Power
- Green Hydrogen Systems
- McPhy Energy S.A.
- Enapter S.r.l.
- Topsoe
- FulePositive Corporation
- Hygenco
- LONGi
- Hiringa Energy Ltd
- Iberdrola, S.A.
- CEEC Global Ltd
Market Research Scope:
The green ammonia market research focuses on its applications in fertilizers, hydrogen storage, and power generation. It analyzes production methods (electrolysis, photochemical synthesis) and end-use industries. The study explores the impact of decarbonization goals, renewable energy adoption, and government incentives on market growth. Regional analysis includes North America, Europe, Asia-Pacific, and other areas, highlighting investments, technological advancements, and opportunities in sustainable ammonia production.
Green Ammonia Market Segmentation:
The green ammonia market is segmented by production method (electrolysis, photochemical synthesis), application (fertilizers, hydrogen storage, power generation, marine fuel), and end-user industry. Regional segmentation covers North America, Europe, Asia-Pacific, and others. This segmentation highlights demand drivers like renewable energy integration, decarbonization goals, and government incentives across regions.
Green Ammonia Market, Technology Outlook (Revenue – USD Million, 2019-2032)
- Proton Exchange Membrane
- Alkaline Water Electrolysis
- Solid Oxide Electrolysis
Green Ammonia Market, End-Use Outlook (Revenue – USD Million, 2019-2032)
- Power Generation
- Transportation
- Industrial Feedstock
- Agriculture
- Others
Green Ammonia Industry Developments:
October 2023: DAI Infrastruktur collaborated with Siemens Energy to accelerate its green ammonia project, “Ra,” located in East Port Said, Egypt. The facility is projected to produce 2 million tons of green ammonia annually, with operations expected to commence by 2028.
August 2022: Uniper SE signed a Memorandum of Understanding (MoU) with EverWind Fuels to secure green ammonia from EverWind’s inaugural production facility in Nova Scotia. The companies aim to finalize a binding offtake agreement for 500,000 tonnes of green ammonia per year.
August 2022: The Avaada Group announced plans to establish a green ammonia production facility in Kota, Rajasthan. This initiative is designed to support India’s growing energy requirements with sustainable solutions.
May 2022: LSB Industries entered an agreement with ThyssenKrupp Uhde USA and Bloom Energy to produce approximately 30,000 tonnes of green ammonia annually at its facility in Pryor, Oklahoma, furthering its commitment to sustainable energy production.
The Green Ammonia market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.