Green Ammonia Market

Market Overview

The green ammonia market is experiencing robust growth driven by a confluence of factors reflecting a global shift towards sustainable and clean energy solutions. With the increasing emphasis on reducing carbon emissions and mitigating environmental impact, green ammonia has gained significant traction as a versatile and eco-friendly alternative. Its application spans across various sectors, including power generation, transportation, fertilizer production, refrigeration, and more. The transportation segment stands out as a major contributor to the market, holding a substantial revenue share, fueled by the growing need for greener fuels amid the ongoing fuel energy crisis. Additionally, global concerns regarding environmental protection and carbon emissions are steering industries toward adopting green ammonia, given its clean and efficient attributes. As governments and industries worldwide align with sustainability goals, the green ammonia market is poised for further expansion, offering a promising avenue for environmentally conscious solutions across diverse end-use sectors.

Green Ammonia Market Size

Report	Details
Market Size Value	USD 0.34 billion in 2024
Market Size Value	USD 46.0 billion by 2032
CAGR	CAGR of 72.50%
Forecast Period	2024-2032
Base Year	2023
Historic Data	2020
Segments Covered	Technology, End-use
Geographics Covered	North America, Europe, Asia Pacific, and RoW

Major vendors in the global Green Ammonia Market are Nel Hydrogen, Siemens Energy, MAN Energy Solutions, ThyssenKrupp AG, ITM Power PLC, Hydrogenics, Green Hydrogen Systems, EXYTRON, AquaHydrex, Enapter, BASF SE, Yara International, ENGIE, Uniper, Haldor Topsoe, Starfire Energy, Queensland Nitrates Pty Ltd, Electrochaea, Hiringa Energy And Others.

The rising cost of fossil fuels

The escalating costs associated with traditional fossil fuels, coupled with growing environmental concerns, have become pivotal drivers for the burgeoning green ammonia market. As fossil fuel prices rise, industries are seeking alternative and sustainable energy sources to mitigate operational expenses and reduce dependency on volatile markets. Green ammonia, produced through renewable energy-powered electrolysis and sustainable nitrogen feedstocks, emerges as a compelling solution. It not only offers a cleaner and more environmentally friendly alternative to conventional ammonia production methods reliant on fossil fuels but also aligns with global efforts to transition towards a low-carbon economy. As a result, the increasing cost pressures on traditional energy sources are propelling the demand for green ammonia, positioning it as a key player in the sustainable energy landscape.

Market Dynamics

Drivers:

• The growing demand for fertilizer
• The development of ammonia-powered ships
• The increasing use of ammonia in industrial processes

Opportunities:

• Developing new applications for green ammonia
• Reducing the cost of green ammonia production
• Increasing public awareness of the benefits of green ammonia
• Establishing industry standards for green ammonia production and use.

The development of new technologies for green ammonia production

The green ammonia market is witnessing a notable trend of advancing technology to enhance ammonia production sustainability. A prominent example is the Green Ammonia Synthesis using Solid Oxide Electrolysis (GAS-SOE) process, utilizing high-temperature solid oxide electrolysis cells (SOECs). These cells efficiently split water into hydrogen and oxygen using renewable energy-generated electricity. The produced hydrogen is then combined with nitrogen to form green ammonia. Compared to traditional electrolysis, the use of SOECs enhances energy efficiency, reducing the carbon footprint of ammonia production. Additionally, this technology addresses challenges related to renewable energy intermittency, providing a more flexible and controllable process. These innovations underscore the industry's dedication to sustainability, marking a positive trajectory toward environmentally friendly and economically viable green ammonia production methods.

North America dominates the market for Green Ammonia Market.

North America stands as the primary consumer of green ammonia, driven predominantly by the agricultural, power generation, and transportation sectors. The surge in the United States' population has heightened the demand for food, particularly driving the agriculture sector and consequently increasing the utilization of green ammonia in the region. The United States boasts a significant agricultural industry, responding to the global demand for corn and cereals. As of 2021, the country had over 2 million farms, averaging approximately 445 acres each, with a total farmland area of about 895 million acres. The net value added to the U.S. agricultural sector in 2021 reached around USD 190 billion. Meanwhile, Canada led in average total farm area among selected nations, reporting 809.4 acres per farm in 2021, and the country exported nearly USD 82.2 billion in agriculture and food products in the same year, encompassing raw agricultural materials, fish, seafood, and processed foods.

Transportation Segments is anticipated to hold the Largest Market Share during the Forecast Period

Based on the End Users segment categorized into Power Generation, Transportation, Fertilizer, Refrigeration and Others. Transportation has a major share in the Green Ammonia Market. The transportation segment has emerged as the market leader, driven by the escalating global fuel energy crisis that underscores the demand for sustainable fuel alternatives. The shift from conventional to renewable sources, including green ammonia and others, is a pivotal factor, as these sources offer clean, efficient, and environmentally friendly fuel solutions. Heightened global attention to environmental protection and carbon emissions further propels the popularity of these alternatives in the transportation sector. Notably, the product's advantages, such as low storage volume requirements and its liquid state under ambient conditions, contribute to its feasibility compared to traditional fuels.

Its potential application as a carbon-free fuel in fuel cells and as a clean alternative to traditional fossil fuels positions green ammonia as a key player in the ongoing efforts to achieve a more sustainable and environmentally friendly transportation system. The versatility of green ammonia, coupled with its potential to address both environmental and energy security concerns, contributes to its significant share in the transportation sector within the broader green ammonia market.

Major Segmentations Are Distributed as follows:

• By Technology
  • Solid Oxide Electrolysis
  • Proton Exchange Membrane
  • Alkaline Water Electrolysis
• By End-use
  • Power Generation
  • Transportation
  • Fertilizer
  • Refrigeration
  • Others
• By Region
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Rest of Latin America
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • BENELUX
    • CIS & Russia
    • Nordics
    • Austria
    • Poland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailand
    • Indonesia
    • Malaysia
    • Vietnam
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Nigeria
    • Egypt
    • Israel
    • Turkey
    • Rest of Middle East & Africa

Recent Developments

• November 2022, Siemens Energy has collaborated with Fortescue Future Industries and GeoPura to create an industrial-scale ammonia cracker prototype for green hydrogen production, contributing to climate change mitigation and carbon emission reduction. The prototype aims to produce 200 kg of hydrogen daily using ammonia, sufficient to power approximately 5-10 hydrogen fuel cell electric buses. This initiative represents a significant step towards advancing sustainable and emission-free energy solutions.
• September 2022, Uniper SE and Vestas have inked a Memorandum of Understanding to expand an existing storage facility, creating Greenpoint Valley, the inaugural green ammonia hub in Northwest Europe. This strategic move by Uniper SE reflects its commitment to the growing green ammonia and hydrogen sectors in the region, contributing to enhanced supply security in Europe.

Green Ammonia Market Report Gives Answers to Following Key Questions:

• What will be the Green Ammonia Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Green Ammonia Market?
• What are the main forces behind the worldwide Green Ammonia Market? Which companies dominate the Green Ammonia Market?
• Which companies dominate the Green Ammonia Market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global Green Ammonia industry's suppliers' opportunities and dangers in Green Ammonia Market?
• What is the Green Ammonia industry's regional sales, income, and pricing analysis? In the Green Ammonia Market, who are the distributors, traders, and resellers?
• What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Green Ammonia Market?
• What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in Green Ammonia Market?
• What are the dominant revenue-generating regions for Green Ammonia Market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main Green Ammonia Market trends that are influencing the market's expansion?
• Which key product categories dominate the Green Ammonia Market? What are the Green Ammonia Market’s main applications?
• In the coming years, which Green Ammonia Market technology will dominate the market?

Reason to purchase this Green Ammonia Market Report:

• Determine prospective investment areas based on a detailed trend analysis of the global Green Ammonia Market over the next years.
• Gain an in-depth understanding of the underlying factors driving demand for different Green Ammonia Market segments in the top spending countries across the world and identify the opportunities each offers.
• Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels that are driving the global Green Ammonia Market , providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Green Ammonia Market.
• Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Green Ammonia Market  providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.