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Green Ammonia Market by Renewable Energy, Technology, Location, Application, and Region: Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021 - 2029

Published On 12 Jan 2022 07:24 AM


According to a recent report published by Absolute Markets Insights, titled, “Green Ammonia Market by Renewable Energy, Technology, Location, Application, and Region: Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021 - 2029,” the global green ammonia market is projected to grow at a CAGR of 54.9% over the forecast period (2021 – 2029)

Agriculture and Industrial Feedstock Application to Hold Largest Market Share in 2020

According to Absolute Markets Insights report, agriculture and industrial feedstock application accounted for the highest market share in 2020 and is expected to maintain its dominance over the forecast period (2021-2029) period in the green ammonia market. High product penetration in agriculture sector along with abundant product availability as a feedstock for fertilizer production has supported the market growth of conventionally produced ammonia in the recent past. According to thyssenkrupp AG, more than 80% of global ammonia production over 170 million metric tons is used in manufacturing fertilizers. Additionally, high consumption of conventionally produced ammonia in crop production was witnessed to represent chronic hazards to terrestrial ecosystem by causing emissions of greenhouse gases. Furthermore, growing environmental concerns along with increasing adoption of decarbonization targets in various countries spurred the demand for green ammonia as feedstock for carbon neutral fertilizer in the agriculture sector. Besides, growth in sustainable food production along with necessity to decarbonize food value chain, further increased the popularity of green ammonia in agriculture sector. Such factors have positively contributed in driving the demand of green ammonia market in agriculture and industrial feedstock applications in 2020.

View Full Report Link: https://www.absolutemarketsinsights.com/reports/Global-Green-Ammonia-Market-2021---2029-1025

Growing Potential of Applications Such As Energy Storage, Transport Fuel, and Heating Is Likely To Increase Product Demand

In the recent years, demand led growth for ammonia has been steady, however, clean energy transition protocols adopted in various countries have supported the industry with growing market demand for blue and green ammonia. Green ammonia being a carbon free energy carrier which is produced using renewable sources has further increased its potential in zero carbon energy storage, transportation fuel and heating applications. For instance, relative ease and low costs associated with storage of liquid ammonia compared to hydrogen either in compressed or refrigerated form makes ammonia an ideal option for zero carbon energy storage and transportation fuel. Similarly, potential for green ammonia as a transportation fuel has driven several technology providers and green ammonia manufacturers to explore this aspect. For example, Man Energy Solutions is developing two stroke ammonia fuelled engine which is to be commercialized by 2024. Such a development is inclined towards supporting maritime vessels and drive the green ammonia market demand across the transportation sector. Furthermore, tapping space and water heating markets by using green ammonia for combustion is anticipated to create profitable opportunities for industry participants to achieve high degree of integration throughout the value chain.

Electricity Costs to Play Vital Role in Influencing the Production of Green Ammonia

Current production technology for producing ammonia is highly based on natural gas reforming, and coal gasification. Carbon emission curbs in line with ammonia production have fostered the adoption of electrolysis-based ammonia production. Industry manufacturers pursuant towards implementation of net zero emission production routes are focused on using alkaline water electrolysis and proton exchange membrane (PEM) electrolysis on large scale, however, electricity costs are significantly impacting the prices of green ammonia produced from electrolysis-based installations. According to International Energy Agency (IEA), electricity generation through variable renewable energy (VRE) installations vary widely by region ranging from USD 22-240 per MWh. Such a factor is likely to increase the fluctuation in green ammonia production and result in increased demand-supply gap. However, growing deployment of solar cell and wind turbine units in developing regions is projected to reduce electricity costs in near future which in turn will subsequently pool investments and increase production capacity of green ammonia market globally. 

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Government Policies and Initiatives towards Decarbonization

In the recent past, the European Union introduced emission trading system (ETS) which implemented carbon pricing or carbon tax to reduce industrial emissions including ammonia production. In 2021, China adopted the ETS system for power sector to reduce carbon emissions. Such factors contributed in increasing adoption of clean energy production routes and deployment of carbon capture and storage units. Similarly, Chinese action plan for zero fertilizer use along with EU nitrate directives pushed the fertilizer manufacturers to explore the facet of green ammonia. Furthermore, hydrogen strategy towards climate neutrality implemented by Europe bolstered the green hydrogen production. As low carbon hydrogen can be used to produce ammonia, the futuristic growth opportunities of green ammonia production significantly is showing high potential by growing number of pipeline projects. Thus, government policies targeted toward decarbonization is projected to play vital role in driving the production of green ammonia market in near future.

Key Findings:

  • By renewable energy, the solar segment registered the major share of revenue in the green ammonia market in 2020. Cost effectiveness and high energy generation from solar units fostered the segment growth.
  • By technology, alkaline water electrolysis (AWE) segment accounted for the major share in 2020. High operational efficiency along with growing adoption of alkaline water electrolysis by ammonia manufacturers has driven the segment growth.
  • By region, Europe dominated the green ammonia market in terms of revenue in 2020. Growing number of green ammonia projects along with stringent climate targets is driving the regional growth.

Why One Should Purchase Reports from Absolute Market Insights:

The research report on Global Green Ammonia Market will include in-depth qualitative and quantitative information on the following pointers:

  • We offer our reports in different languages which include German, Japanese, French, Spanish and Korean amongst others.
  • We offer the feasibility of customizing the reports specific to regions which will cover exclusive insights on regions and its countries (namely North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
  • Global Market Size and Forecast Values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
  • Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
  • Macro-Economic and Micro-Economic Indicators: Global Green Ammonia Market
  • Market Determinants and Influencing Factors
  • Macro-Economic and Micro-Economic Indicators
  • Market Dynamics
    • Drivers
    • Restraints
    • Opportunities
  • Trends in Global Green Ammonia Market
  • Impact of the Pandemic on Global Green Ammonia Market
  • Competitor Landscape
    • Product Benchmarking
    • Market Share Analysis and Positioning, 2020
    • Global Presence and Growth Strategies
  • The final report will include competitive product benchmarking which will include comparison of different products offered by different market key players on the basis of their features and capabilities that will help you to understand their market offerings. Furthermore, for each company, we will provide information on company details, company overview, product offerings, key developments, financial analysis, swot analysis, business strategies.

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Competitor Insights:

The key companies profiled in the global green ammonia market are mentioned below:

Global Green Ammonia Market:

By Renewable Source:

  • Solar
  • Wind
  • Hydro
  • Others

By Technology: 

  • Alkaline Water Electrolysis (AWE)
  • Solid Oxide Electrolysis Cell (SOEC)
  • Proton Exchange Membrane (PEM)

By Location: 

  • Offshore
  • Onshore

By Application: 

  • Agriculture and Industrial Feedstock
  • Power Generation
  • Automotive and Transportation
  • Marine
  • Pharmaceuticals
  • Textiles
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Press Release Provided By: Absolute Markets Insights