Global Green Ammonia Market was valued at USD 4.07 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 39.16%, owing to a significantly increasing demand for renewable energy. Green ammonia refers to the ammonia produced by processes that utilize renewable energy sources such as solar, wind, and hydro.
In the production of green ammonia, hydrogen is extracted through the electrolysis of water using renewable energy, followed by the Haber-Bosch process. Green Ammonia plays an important role in achieving the net zero-carbon emissions target set by the Paris Agreement 2050. Green Ammonia for power generation is expected to reach approximately 5700 thousand tonnes by 2030.
Growing Demand for Renewable Energy Driving Market Growth
Multiple renewable energy sources will be integrated with engineering and physical technologies to conserve and store energy in the coming years. Sustainable production and the application of carbon-free products on a significant basis could reduce the problem of rising carbon emissions. Consumers prefer green ammonia over ammonia produced from fossil fuels, as it encourages the decarbonization of power and shipping industries.
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Several end-use industries are moving in the direction of green ammonia due to its zero-carbon emission ability. Thus, the rising consumer awareness is expected to propel the demand for green ammonia during the forecast period to make viable and safer alternative fuels.Stringent Rules & Regulations Related to Carbon Emissions is Driving Global Green Ammonia MarketMany governments are taking up the responsibility to implement regulations and policies to achieve zero-carbon emissions. Green Ammonia could really help achieve the targets as it helps in generating electricity without any emissions. Governments of the nations are tracking for the widespread execution of green ammonia manufacturing and its uses, which is important in accelerating the development and positioning of this technology. Countries are also aiming for the usage of renewable energy sources in their production method, as these options can be responsible for accomplishing the target of net-zero emissions. Thus, government initiatives expand the scope of green ammonia and create understanding among the market players, which results in driving the global green ammonia market in the forecast period.Recent Developments
- In 2023, Topsoe was selected by Beijing-based Mintal Hydrogen to offer its proprietary technology for a green ammonia plant in China. The 390,000 t/y plant, located in Baotou, Inner Mongolia, will be the first of its type in China, as well as Topsoe’s first power-to-X project in the country. In 2023, On January 13, the Indian government released a blueprint for its determined National Green Hydrogen Mission (NGHM) with a total initial outlay of USD 2419.39 million, of which USD 2143.19 million will be used for the production-linked incentives for producing green hydrogen and manufacturing electrolyzers.In 2023, Yara International plans to modify its ammonia terminals in Germany and that will allow handling of up to 3 million tons of ammonia. This equates to roughly 530,000 tons of hydrogen and will assist in speeding up the hydrogen economy in Germany.
Market Segmentation
The Global Green Ammonia market is segmented based on Production Method, End-Use, Region and Competitive Landscape. Based on the Production Method, the market is further fragmented into Alkaline Water Electrolysis, Proton Exchange Membrane, and Solid Oxide Electrolysis. Based on End Use the market is fragmented into Power Generation, Transportation, Fertilizers & others.
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Company Profiles
- Yara international ASAHaldor Topsoe Holding A/SMaire TechnimontThyssenkrup AGSiemens Energy AGBASF SEACME GroupFertiglobe plcNEL Hydrogen ASITM Power plcGreen Hydrogen Systems ASGreenfield Nitrogen LLC is one of the major players in the market.
AttributeDetailsMarket size value in 2022USD 4.07 MillionRevenue Forecast in 2032USD 7676.47 MillionGrowth Rate39.16%Base Year2022Estimated Year2023Forecast Period2024 – 2032Quantitative UnitsRevenue in USD Million, and Volume in Thousand Tonnes CAGR for 2023E-2032FReport CoverageRevenue forecast, company share, competitive landscape, growth factors, and trendsSegments CoveredProduction MethodEnd UseRegional ScopeEurope, North America, Asia Pacific, Middle East & Africa ,Key Companies ProfiledYara international ASA, Haldor Topsoe Holding A/S, Maire Technimont, Thyssenkrup AG, Siemens Energy AG, BASF SE., ACME Group, Fertiglobeplc, NEL Hydrogen AS, ITM Power Plc, Green Hydrogen Systems AS, Greenfield Nitrogen LLCCustomization Scope10% free report customization with purchase. Addition or alteration to country, regional & segment scope.Pricing and Purchase OptionsAvail customized purchase options to meet your exact research needs. Explore purchase optionsDelivery FormatPDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
In this report, the Global Green Ammonia market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Europe Green Ammonia Market Outlook
6.1. Market Size & Forecast6.1.1. By Value & Volume6.2. Market Share & Forecast6.2.1. By Production Method6.2.2. By End Use6.2.3. By Country6.3. Europe: Country Analysis6.3.1. France Green Ammonia Market Outlook6.3.1.1. Market Size & Forecast6.3.1.1.1. By Value & Volume6.3.1.2. Market Share & Forecast6.3.1.2.1. By Production Method6.3.1.2.2. By End Use6.3.2. Germany Green Ammonia Market Outlook6.3.2.1. Market Size & Forecast6.3.2.1.1. By Value & Volume6.3.2.2. Market Share & Forecast6.3.2.2.1. By Production Method6.3.2.2.2. By End Use6.3.3. Denmark Green Ammonia Market Outlook6.3.3.1. Market Size & Forecast6.3.3.1.1. By Value & Volume6.3.3.2. Market Share & Forecast6.3.3.2.1. By Production Method6.3.3.2.2. By End Use6.3.4. Russia Green Ammonia Market Outlook6.3.4.1. Market Size & Forecast6.3.4.1.1. By Value & Volume6.3.4.2. Market Share & Forecast6.3.4.2.1. By Production Method6.3.4.2.2. By End Use6.3.5. United Kingdom Green Ammonia Market Outlook6.3.5.1. Market Size & Forecast6.3.5.1.1. By Value & Volume6.3.5.2. Market Share & Forecast6.3.5.2.1. By Production Method6.3.5.2.2. By End Use6.3.6. Sweden Green Ammonia Market Outlook6.3.6.1. Market Size & Forecast6.3.6.1.1. By Value & Volume6.3.6.2. Market Share & Forecast6.3.6.2.1. By Production Method6.3.6.2.2. By End Use6.3.7. Switzerland Green Ammonia Market Outlook6.3.7.1. Market Size & Forecast6.3.7.1.1. By Value & Volume6.3.7.2. Market Share & Forecast6.3.7.2.1. By Production Method6.3.7.2.2. By End Use