Green Ammonia Market Forecast to Surge with Increasing Global Shift Towards Low-Carbon and Renewable Energy Solutions

Global Green Ammonia Market Size, Share & Trends Analysis Report By Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM) Electrolysis, Solid Oxide Electrolysis), End-Use Application (Transportation, Power Generation, Industrial Feedstock), By Region, And Segment Forecasts, 2025-2034

The global Green Ammonia market is estimated to reach over USD 140.2 billion by the year 2034, exhibiting a CAGR of 70.0% during the forecast period.

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It is expected that renewable ammonia will emerge as a widely used chemical during the forecast period, driven by intensified efforts from various governments to achieve low or zero carbon emissions. The product is projected to become a key commodity for transporting renewable energy across regions in the coming years. Additionally, the market for renewable ammonia is set to grow due to increasing demand across multiple end-use industries, including fertilizers, power generation, transportation, and more. The rising need for green ammonia in pharmaceutical and industrial feedstock applications is also anticipated to contribute to market expansion.

The global market was notably impacted by the COVID-19 pandemic, with lockdown measures and travel restrictions disrupting operations and leading to labor shortages. These factors hindered market activities, resulting in operational challenges and the temporary closure of manufacturing facilities. However, as applications of renewable ammonia increase, coupled with heightened environmental concerns and favorable government regulations, the market is expected to experience significant growth during the forecast period.

List of Prominent Players in the Green Ammonia Market:
• Siemens Energy
• Thyssenkrupp Ag
• Man Energy Solutions
• Nel Asa
• ITM Power
• Mcphy Energy S.A.
• Enapter S.R.L.
• Green Hydrogen Systems
• Fuelpositive Corporation
• Stamicarbon
• Hydrogenics
• Hygenco
• Electrochaea
• Starfire Energy
• Exytron
• Aquahydrex
• Yara International
• BASF SE
• Engie
• Uniper SE
• Queensland Nitrates

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Market Dynamics:
Drivers:
The global market for green ammonia is anticipated to experience significant growth during the forecast period, driven by increasing environmental concerns and a growing preference for renewable energy sources. The expansion of this market is further accelerated by the introduction of stringent environmental regulations and government initiatives aimed at reducing reliance on fossil fuels. Additionally, the rising demand for fertilizers to boost agricultural production and improve crop quality is contributing to the growing need for green ammonia.

Challenges:
Governments worldwide are implementing policies to reduce greenhouse gas emissions, leading to a higher consumer demand for low-carbon products such as green ammonia. Over the past few years, there has been a notable decrease in the cost of renewable energy sources like wind and solar, which has enhanced the economic viability of producing green ammonia using renewable energy.

Regional Trends:
North America is the largest consumer of green ammonia, primarily for applications in transportation, power generation, and agriculture. The growing population and rising food demand have spurred the expansion of the agricultural sector, further driving the regional demand for green ammonia. Agriculture remains a crucial industry in the United States, with the demand for corn, cereals, and other corn-based products increasing globally. As of 2021, the U.S. had over 2 million farms, covering approximately 895 million acres of farmland, with average farm sizes around 445 acres.

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Recent Developments:
• In May 2022, According to LSB Industries, Inc., it has agreements with ThyssenKrupp Uhde USA, LLC and Bloom Energy to build a project that will create about 30,000 metric tonnes of green or zero-carbon ammonia annually at LSB's facility in Pryor, Oklahoma.

Segmentation of Green Ammonia Market-
By Technology-
• Alkaline Water Electrolysis
• Proton Exchange Membrane
• Solid Oxide Electrolysis
By End-Use Application-
• Power Generation
• Transportation
• Industrial Feedstocks
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.