Green Ammonia Market Report and Forecast 2023-2028

According to the report, the global green ammonia market is projected to grow at a CAGR of 58.3% between 2023 and 2028. Aided by the escalating demand for carbon-free fuel alternatives and the burgeoning applications of green ammonia in various sectors, the market is expected to grow significantly by 2028.

Green ammonia, also known as renewable ammonia, is manufactured from water, air, and renewable energy sources, usually wind or solar power. It is typically used in various applications, including fertiliser production, industrial refrigeration, and as a potential carbon-free fuel source.

Green ammonia is significant in the global pursuit of decreasing carbon emissions, helping to fight climate change and support a sustainable energy transition, thus propelling the green ammonia market growth. Beyond its environmental benefits, green ammonia also possesses excellent properties as a chemical feedstock and potential energy carrier, rendering it a valuable component in a diverse range of industrial applications.

The increasing global focus on carbon-neutral energy sources is boosting the global green ammonia market demand. With the growing awareness about the environmental impacts associated with traditional fossil fuels, there has been a noteworthy shift towards renewable energy sources, leading to a surge in demand for green ammonia. Furthermore, the rising trend of decarbonisation across various industries, including energy, transportation, and agriculture, has contributed to green ammonia's escalating popularity.

The expanding applications of green ammonia in numerous sectors also significantly contribute to the green ammonia market development. In the energy sector, green ammonia has potential as a carbon-free fuel, able to be utilised in fuel cells and traditional internal combustion engines. The agricultural sector relies on green ammonia as a key component in producing nitrogen-based fertilisers, while the refrigeration industry utilises it due to its excellent cooling properties.

Additionally, the escalating demand for carbon-free solutions in the energy and transportation sectors has led to an increased focus on green ammonia as a sustainable alternative. With the rise of clean technology and mounting pressure to curtail greenhouse gas emissions, green ammonia has emerged as a major player in the energy transition, thereby stimulating the green ammonia market expansion.

Market Segmentation

The market can be divided based on technology, end use, and region.

Market Breakup by Technology

• Alkaline Water Electrolysis
• Proton Exchange Membrane

Market Breakup by End Use

• Fertiliser
• Chemical and Petrochemicals
• Utilities
• Marine Transport
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global green ammonia companies. Some of the major key players explored in the report are as follows:

• CF Industries Holding, Inc.
• Yara International
• Iberdola, S.A.
• Acme Group
• OCL N.V.
• Nort H2
• Greenfield Nitrogen LLC
• Madoqua Renewables
• NextChem
• FerSam Group
• Others

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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.