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Green Ammonia Market (Technology - Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM), and Solid Oxide Electrolysis (SOE); End User - Power Generation, Idustrial Feedstock, Agriculture, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : July, 2021

  • Rep Id : CM00864

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on the green ammonia market provides an in-depth analysis of segments and sub-segments in the global as well as regional green ammonia market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional green ammonia market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global green ammonia market. According to the report, the global green ammonia market is projected to grow at a CAGR of 47% over the forecast period of 2021-2027, growing from nearly USD 10 billion in 2021 to about USD 100 billion in 2027.

 

Market Insight

Ammonia is one of the most significant chemicals widely used across agriculture, industrial, and power sectors. It is also one of the promising candidates for alternative energy carriers. Ammonia is most commonly produced by the Haber-Bosch process that gives high greenhouse gas emissions and uses high amounts of energy. Thus, ammonia production proves to be a harmful process for the environment. Researchers from various institutes, and companies are finding an environment-friendly, energy-efficient, and economically viable method for ammonia production. Ammonia produced by such methods is known as green ammonia. Green ammonia is made of hydrogen derived from water electrolysis, and nitrogen from the air. Along with agriculture applications, green ammonia is used for energy generation and energy storage. Moreover, several market players are also focusing on using green ammonia for carbon capture.

 

The spread of novel coronavirus has affected the global economy including several industries. The chemical and power sector are some of the majorly affected industries in the world. As the Covid-19 pandemic spread across the world, governments in several countries implemented strict restrictions on civilians as well as organizations in order to control the spread. Many chemical plants were shut down during the pandemic due to a shortage of labor and lockdown restrictions. Manufacturers producing green ammonia were also compelled to close their facilities due to the restrictions. Moreover, the power sector witnessed lower demand from commercial and industrial end-users. This hampered fossil fuel as well as renewable energy industries. Lower demand for renewable energy affected the green ammonia market, as many renewable energy players use green ammonia to store and transport the energy. Furthermore, the Covid-19 pandemic affected the financial sector that funds green energy, carbon capture, and other innovative industries that use green ammonia. This, in turn, hampered the market over the short term.

 

The rise in the shift towards environment-friendly products and services is driving the growth green ammonia market. Consumers across the world are becoming aware of the amount of pollution caused by the chemical industry. As green ammonia produces less carbon dioxide and other greenhouse gasses, consumers Moreover, governments of many countries have imposed regulations on the factories to curb their carbon output and greenhouse gas emissions. Due to this, many chemical companies are turning to produce green ammonia. Furthermore, the growing demand for efficient energy storage alternatives is anticipated to augment the growth of the green ammonia market. Ammonia is easy to store in bulk as a liquid, and cheaper to transport than petroleum products. However, the higher initial capital to set up green ammonia plants is likely to hamper the market growth. Nevertheless, the growing interest in carbon capturing is expected to boost the market growth over the forecast period, as ammonia poses a greater ability to capture and store carbon dioxide.

 

In terms of region, the global green ammonia market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe, among the regions, holds the largest share in the global green ammonia market. The growing number of green hydrogen projects in countries such as Germany and the Netherlands are supporting the domination of Europe in the global green ammonia market. These hydrogen energy projects use ammonia to produce pure hydrogen gas. Moreover, government policies in many European nations favor the adoption of green energy sources such as biofuel, hydrogen, and other renewable energy sources. On the other hand, the Asia Pacific region is anticipated to grow at the fastest rate over the forecast period. The rapid growth in the Asia Pacific region is majorly attributed to the rise in the demand for environment-friendly and cost-efficient production processes for ammonia synthesis. Furthermore, the government initiatives to promote green energy is expected to boost the green ammonia market in the Asia Pacific over the forecast period.

 

Green Ammonia Market


Segment Covered

The report on the global green ammonia market covers segments such as technology, and end user. On the basis of technology, the sub-markets include alkaline water electrolysis (AWE), proton exchange membrane (PEM), and solid oxide electrolysis (SOE). On the basis of end user, the sub-markets include power generation, idustrial feedstock, agriculture, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Siemens AG, Maire Tecnimont SpA, Nanjing Kapsom Engineering Limited, MAN Energy Solutions, ITM Power, Nel Hydrogen Solutions, ThyssenKrupp AG, Yara International ASA, Haldor Topsoe A/S, and CF Industries Holdings, Inc.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the green ammonia market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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