The green ammonia market is rapidly expanding as the world transitions to cleaner energy solutions. Produced using renewable energy, green ammonia is emerging as a sustainable fuel alternative, particularly in shipping and agriculture. It is also gaining traction as a hydrogen carrier, simplifying transportation and storage challenges. Government initiatives and investments in renewable energy projects are propelling market growth, with Europe and Asia-Pacific leading production.
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 Trends: Green Ammonia
- Rising Interest in Carbon-Free Energy: Green ammonia is gaining traction as a sustainable fuel alternative in the transition to net-zero emissions.
- Hydrogen Storage and Transportation: Green ammonia is a preferred carrier for hydrogen due to its easy storage and transportation capabilities.
- Growth in Renewable Energy Integration: Increasing renewable energy investments, like solar and wind, drive green ammonia production.
- Supportive Government Policies: Governments worldwide are funding and supporting green ammonia projects to promote decarbonization.
- Emerging Maritime Fuel: Green ammonia is being explored as a clean fuel for the shipping industry to meet stricter emission norms.
- Technological Advancements: Innovations in electrolysis and Haber-Bosch processes are enhancing production efficiency.
- Geopolitical Factors: Countries rich in renewable energy resources are emerging as leaders in green ammonia production, fostering energy independence.
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
Growth Factors:
• Market dynamics:All the key factors and major developments anticipated to boost the growth of the market are covered in the study.
• Technological evolution:The report offers a thorough understanding of the emerging technologies that can influence the Green Ammonia market demand.
• Innovation pathways: The study covers where innovations can take the market in the mid to long term.
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https://www.polarismarketresearch.com/industry-analysis/green-ammonia-market
The Geographical Analysis Covers Following Key Regions:
• North America (United States, Canada, and Mexico)
• Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
• South America (Brazil, Argentina, Colombia, and the rest of South America)
• The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)
Green Ammonia Market Segmentation:
The green ammonia market is segmented by technology, application, and region. By technology, it includes alkaline water electrolysis, proton exchange membrane, and solid oxide electrolysis. Alkaline water electrolysis dominates due to cost efficiency. By application, it is divided into agriculture, power generation, and transportation, with agriculture being the largest segment. By region, Europe leads due to government initiatives and renewable energy adoption, followed by Asia-Pacific.
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 teamed up with Siemens Energy to further their green ammonia project in East Port Said, Egypt. The project, named Ra, is expected to produce 2 million tons of green ammonia annually, with operations slated to begin by 2028.
- August 2022: Uniper SE entered a Memorandum of Understanding (MoU) with EverWind Fuels to purchase green ammonia from EverWind’s inaugural production facility in Nova Scotia. The companies aim to finalize a binding offtake agreement for 500,000 tons of green ammonia per year.
- August 2022: The Avaada Group announced plans to build a green ammonia production facility in Kota, Rajasthan, offering sustainable solutions to support India’s growing energy demands.
- May 2022: LSB Industries signed an agreement with ThyssenKrupp Uhde USA and Bloom Energy to produce 30,000 tons of green ammonia annually at their facility in Pryor, Oklahoma.
The Green Ammonia Market report provides a cutting-edge analysis of market dynamics, spotlighting evolving trends, emerging opportunities, and growth drivers that shape the industry landscape. It delves into critical insights and breakthrough developments, equipping stakeholders with the tools to innovate and adapt in a competitive environment. Concluding with actionable takeaways and an overview of robust research methodologies, this report serves as an essential guide for businesses and investors aiming to stay ahead of the curve and foster sustainable growth in an ever-changing market.
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