Press release
Blue Ammonia Global Market Size, Share, Emerging Trends, Key Growth, Challenges and Forecast By 2033 | ExxonMobil Corporation, Shell PLC, Uniper SE, Koch Industries Inc., BASF SE
Blue Ammonia Market
As per the report, the blue ammonia market size has grown strongly in recent years. It will grow from $13 billion in 2023 to $13.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The blue ammonia market size is expected to see strong growth in the next few years. It will grow to $17.6 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
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Rising Demand For Low-Carbon Fuels Boosts Blue Ammonia Market Growth
The increasing demand for low-carbon fuels is expected to propel the growth of the blue ammonia market going forward. Low-carbon fuels are energy sources that produce a minimal amount of carbon dioxide emissions compared to traditional fossil fuels, thus contributing less to global warming and climate change. They are in demand due to the increasing need to reduce greenhouse gas emissions and mitigate climate change impacts. Blue ammonia is produced by converting natural gas into hydrogen and capturing the emitted carbon dioxide, thus useful as a low-carbon fuel. For instance, in December 2021, according to the International Energy Agency, a France-based intergovernmental agency, the demand for low-carbon fuels (biofuels) is expected to increase by 28% by 2026, to reach 186 billion liters compared to 157 billion in 2021. Therefore, the increasing demand for low-carbon fuels is driving the growth of the blue ammonia market.
Innovative Ammonia Technology Sets New Standards In Efficiency And Sustainability
Major companies operating in the blue ammonia market are developing innovative solution such as blue and green ammonia project to sustain their position in the market. These project revolutionizes ammonia production by expanding capacity by boosting efficiency and environmental sustainability. For instance, in October 2022, KBR Inc., a US-based engineering company, launched a massive 10,000 (metric tons per day) MTPD blue and green ammonia solution that incorporates sophisticated digital technologies to create dependable, flexible, and scalable solutions for meeting clean ammonia and hydrogen demands for the energy transition. This unique solution highlights the increased interest in using ammonia as a fuel source and integrating advanced digital technologies to improve energy efficiency and sustainability.
The blue ammonia market covered in this report is segmented -
1) By Technology: Steam Methane Reforming, Autothermal Reforming, Gas Partial Oxidation, Other Technologies
2) By Distribution Channel: Distribution/Wholesalers, E-Commerce, Direct Sale
3) By Application: Power Generation, Industrial Feedstock, Agriculture, Pharmaceuticals, Transportation, Chemical And Petrochemicals, Other Applications
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Major companies operating in the blue ammonia market are Saudi Arabian Oil Group, ExxonMobil Corporation, Shell PLC, Uniper SE, Koch Industries Inc., ITOCHU Corporation, BASF SE, Siemens Energy AG, Saudi Basic Industries Corporation, Thyssenkrupp AG, Nutrien Ltd., Linde PLC, Mitsubishi Heavy Industries Ltd., Air Liquide S.A., Yara International ASA, Ma'aden, CF Industries Holdings Inc., TechnipFMC PLC, EuroChem Group AG, Sumitomo Mitsui Construction Co. Ltd., Haldor Topsoe A/S, Engie S.A., Qatar Fertiliser Company (P.S.C.), ADNOC Group, Casale S.A.
Contents of the report:
1. Executive Summary
2. Blue Ammonia Market Report Structure
3. Blue Ammonia Market Trends And Strategies
4. Blue Ammonia Market - Macro Economic Scenario
5. Blue Ammonia Market Size And Growth
…..
27. Blue Ammonia Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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