Green Ammonia Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast 2022 - 2030
Green Ammonia Market Growth & Trends
The global green ammonia market size is expected to reach USD 73.05 billion by 2030, registering a CAGR of 127.9% during the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by increasing consumer awareness as well as preference for sustainable products. The increasing prevalence of the product is due to the growing awareness about producing clean energy and reducing carbon footprint. The market is established with growing demand from various end use industries including fertilizer, power generation, refrigeration, transportation, and others.
The product is gaining popularity in the transportation industry, especially in maritime shipping. According to International Maritime Organization (IMO), the maritime industry alone emits 3.0% of carbon annually. The pressure to reduce carbon emissions has led players in the industry to switch towards sustainable fuel. Green ammonia, when compared to other fuels, is the most efficient fuel in terms of storage, cost, and availability.
The market is driven mainly by the need to reduce carbon emissions globally. Green ammonia has the potential to eliminate the carbon footprint from chemical production as it is expected to be a commodity chemical in coming years. Additionally, government policies, subsidies, and regulations are stimulating the production and consumption of green ammonia.
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The European geopolitical conflict has led to a significant rise in petrochemical and gas prices, due to which the conventional process of producing ammonia is very expensive. Comparatively, producing green ammonia is sustainable as well as cost effective. The aforementioned factors are thus estimated to trigger market growth in the near future.
Green Ammonia Market Report Highlights
Fertilizer is expected to be the fastest growing end use segment with a CAGR of 129.9% on account of the increasing use of eco friendly fertilizers and growth in fertilizer production from the developing economies
Solid oxide electrolysis is poised to be the fastest growing technology with a CAGR of 129.5% owing to its high electric efficiency ranging above 90.0% with high current densities at low voltages
Asia Pacific is the fastest-growing region with a CAGR of 140.6% because of the government initiatives for renewable products, rising investments from investors of developed regions, and the feasibility of the technology in the region
Europe is home to many ammonia production plants and has thriving opportunities for new entrants as the market is consolidated
The key players are constantly involved in new technology development, strategic initiatives such as mergers, and capacity enhancement in order to gain a competitive edge in the market
Green Ammonia Market Segmentation
GrandViewResearchhassegmentedtheglobalgreenammoniamarketreportbasedon thetechnology,end use,andregion:
Green Ammonia Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 2030)
SolidOxideElectrolysis
ProtonExchangeMembrane
AlkalineWaterElectrolysis
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Green Ammonia End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 2030)
PowerGeneration
Transportation
Fertilizer
Refrigeration
Others
Green Ammonia Regional Outlook (Volume, Kilotons; Revenue, USD Million, 20182030)
NorthAmerica o U.S. o Canada o Mexico
Europe o Germany o U.K. o Spain o Russia o TheNetherlands
AsiaPacific o China o India o Japan o Australia
Central&SouthAmerica o Brazil o Chile o Argentina o Peru
MiddleEast&Africa o SaudiArabia
o Zimbabwe o Morocco o SouthAfrica
List of Key Players in the Green Ammonia Market
MANEnergySolutions
SiemensEnergy
ITMPowerPLC
NelHydrogen
ThyssenKruppAG
McPhyEnergy
GreenHydrogenSystems
YaraInternational
BASFSE
StarfireEnergy
HaldorTopsoe
HiringaEnergy
QueenslandNitratesPtyLtd For Requesting a Free Consultation https://www.grandviewresearch.com/request free consultation/453599/rfc
Why Purchase this Report?
A strong research methodology was followed to collect data for the report. The data collected in this way are subjected to several quality checks to provide the best quality.
The report provides a holistic view of the Green Ammonia Market
The latest product launches, along with technological changes and developments, are included in the report.
The data analysis in the report will help you understand the Green Ammonia Market dynamics projected from 2022 2030
The Report has a vast data store, so it can accommodate your custom needs as well.
Highlights Points of the Market:
The latest information on how the market is evolving to formulate their sales and marketing strategies. This Market report has been created to provide its readers with up to date information and analysis to uncover emerging opportunities for growth.
The market report covers the key challenges, competitive landscape, and demographic analysis that can help companies get insight into the country specific variations.
The analysts also emphasize on the key trends and the future opportunities that can be explored in the region than can help companies in revenue expansion.
To gain competitive intelligence about leading companies with information about their market share and growth rates.
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Grand View Research is a full time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.