(EMAILWIRE.COM, September 18, 2024 ) Pune, 17, September 2024: Green Ammonia Market Size Was Valued at USD 0.32 Billion in 2023 and is Projected to Reach USD 44.76 Billion by 2032, Growing at 72.88 % From 2024-2032. Green ammonia, or renewable ammonia, is a sustainable and emission-free alternative to conventional ammonia, which emits around 2 tonnes of CO₂ per tonne. It is produced using renewable energy sources and has potential applications in agriculture, industrial chemicals, and shipping. Green ammonia also reduces emissions, enhances energy supply security, and supports renewable energy deployment. The EU's RePowerEU plan aims for substantial growth in renewable hydrogen and ammonia production by 2030 to meet decarbonization targets, positioning green ammonia as a critical component in the global transition to sustainable energy.

Green Ammonia Market Dynamics

Due to the rapid growth of agriculture worldwide, the use of fertilizers is increasing. The demand is expected to increase in the coming years due to the growth of agriculture in Asia and Africa. Due to the heavy use of artificial fertilizers and pesticides, the condition of the soil around the world has become very bad. As agricultural practices that improve soil quality and reduce carbon emissions are in high demand, the market for organic fertilizers is growing rapidly. This encourages chemical manufacturers to use sustainable and environmentally friendly products such as green ammonia. Therefore, the sale of green ammonia will increase, as there is a growing demand for natural fertilizers that promote soil health and prevent pollution. Due to the increasing demand for fertilizers, the consumption of ammonia to produce fertilizers will increase significantly in the coming years.

The shipping industry accounts for 3% of the world's greenhouse gas emissions, mostly due to the use of petroleum and high-sulfur fuels. Heavy fuel oil, a product of the refining of crude oil, is the type of storage oil used by ships. This oil is combined with large amounts of sulfur and burned in marine engines, releasing toxic SOx into the atmosphere. However, the marine industry must reduce greenhouse gas emissions by switching to green energy sources. The 2020 standards of the International Maritime Organization (IMO) have reduced the limit for sulfur in oil to 0.5% m/m (mass by mass) for use in ships operating outside the delivery control area. This will lead to a shift to high-quality marine fuels and create the potential for green ammonia industry companies.

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Green Ammonia Market Regional Insights

Europe has invested heavily in the infrastructure needed to produce, store, and distribute green ammonia. The construction of pipelines, terminals, and storage facilities will improve the synthesis and logistics of green ammonia, which can be used throughout the region. In addition, European countries have made efforts to increase the share of renewable energy in their electricity installations. The availability of gas and solar resources in Europe is an essential basis for the creation of green hydrogen, which can be converted into green ammonia. Combining green ammonia with renewable energy sources helps stabilize the system and save energy. Similarly, increasing public awareness and support for renewable energy and climate change will increase the demand for green ammonia. The public and stakeholders are advocating for greener forms of energy and encouraging companies and governments to include green ammonia in their sustainability plans.

Green Ammonia Market Segment Analysis

By Technology:

Alkaline Water Electrolysis
Proton Exchange Membrane Electrolysis
Oxide Electrolysis
The Alkaline Water Electrolysis segment is expected to dominate the market in the forecast period, as it is the primary method for producing hydrogen, a key component in green ammonia production. Commercial alkaline water electrolyzers are cost-effective and suitable for large-scale centralized production, resulting in efficient hydrogen production. The mature technology has undergone significant advancements in system design, materials, and process optimization, leading to improved performance, durability, and reduced maintenance requirements.

By Application:

Power Generation
Transportation
Industrial Feedstocks
Fertilizer Production
Energy Storage
Green Ammonia Key Competitors include:

Power Generation
Transportation
Industrial Feedstocks
Fertilizer Production
Energy Storage and Other major players
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Key questions answered in the Green Ammonia Market report are:

Which market segment dominated the global Green Ammonia market in 2023?
What are the current global trends in the Green Ammonia market?
What future industry applications and trends are emerging in the Green Ammonia market?
What growth strategies are companies adopting to expand their presence in the Green Ammonia market?
Who are the leading companies in the Green Ammonia market, and what are their product portfolios?
What are the primary challenges the Green Ammonia market may face in the future?
Which region had the largest share of the Green Ammonia market in 2023?
How is the regulatory environment influencing the Green Ammonia market?
Key Offerings:

Market Size, Share, Size & Forecast by Different Segments | 2024−2032
Green Ammonia Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Trend Analysis
Pestle Analysis
Porter’s Five Forces Analysis
Industry Value Chain Analysis
Ecosystem
Regulatory Landscape
Price Trend Analysis
Patent Analysis
Technology Evolution
Investment Pockets
China Manufacturing as a Service Market Segmentation
Competitive Landscape – Profiles of selected key players from a strategic perspective
Competitive landscape – Competitive Benchmarking, US Dump trucks manufacturer Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions
Analyst Viewpoint and Conclusion
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