The Green Ammonia Market size was valued at USD 328.25 million in 2023 and is expected to grow to USD 29.53 billion by 2031 and grow at a CAGR of 74.5% over the forecast period of 2024-2031.
Green ammonia is a promising alternative to traditional ammonia production methods. This innovative approach utilizes renewable energy sources, such as wind, solar, or hydropower, to produce ammonia without emitting harmful greenhouse gases. The production of traditional ammonia is a significant contributor to global carbon emissions, making green ammonia a crucial step towards a more sustainable future. By utilizing renewable energy sources, green ammonia production reduces the carbon footprint of ammonia production and helps to mitigate the effects of climate change. Furthermore, green ammonia has the potential to revolutionize the agriculture industry. Ammonia is a key component in fertilizer production, and the use of green ammonia in fertilizer production could significantly reduce the environmental impact of agriculture.
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The Green Ammonia Market is a rapidly growing industry that is gaining traction in the global market. This sustainable alternative to traditional ammonia production methods has the potential to revolutionize the fertilizer and chemical industries. Green Ammonia is produced through a process called electrolysis, which involves splitting water into hydrogen and oxygen using electricity. The hydrogen is mixed with nitrogen to produce green ammonia. This process is not only environmentally friendly, but it also has the potential to reduce the cost of ammonia production. The demand for green ammonia is increasing as more companies and governments are committing to reducing their carbon footprint. The use of green ammonia in the fertilizer industry can help reduce greenhouse gas emissions and improve soil health. Additionally, green ammonia can be used as a fuel for transportation, which can further reduce carbon emissions. The global green ammonia market is expected to grow significantly in the coming years, with major players in the industry investing in research and development to improve the production process and increase efficiency. As the world continues to prioritize sustainability, the green ammonia market is poised to become a major player in the global economy.
Drivers
Increasing demand for renewable energy sources
Growing need to reduce greenhouse gas emissions
The increasing necessity to decrease greenhouse gas emissions is the primary growth factor behind the development of green ammonia. This innovative solution aims to address the pressing issue of climate change by providing a sustainable alternative to traditional ammonia production methods. By utilizing renewable energy sources, green ammonia production can significantly reduce carbon emissions and contribute to a cleaner, healthier environment. As the world continues to prioritize environmental sustainability, the demand for green ammonia is expected to grow rapidly in the coming years.
Restrain
Lack of infrastructure for the storage and transportation of green ammonia
High cost associated with the production of green ammonia
The high production costs associated with green ammonia is a significant obstacle to the growth of the green ammonia market. The production process for green ammonia requires advanced technology and specialized equipment, which can be quite expensive. Additionally, the cost of renewable energy sources, such as wind and solar power, which are necessary for the production of green ammonia, can also be high. Furthermore, the lack of infrastructure for the transportation and storage of green ammonia can also contribute to the high costs associated with its production. This is because the current infrastructure is primarily designed for traditional ammonia, which is produced using fossil fuels.
Opportunities
Development of new technologies for the production and storage of the green ammonia
Increasing interest in sustainable agriculture practices
Challenges
Necessity of greater investment in research and development
Growing focus on building a hydrogen-based economy
The Russia-Ukraine war has disrupted the supply chain for green ammonia, as both countries are major producers and exporters of ammonia. Prior to the war, a pipeline of 2,500 kilometers transported 2.5 million tonnes of ammonia annually from the Russian city of Togliatti to three Black Sea ports located in southern and western Ukraine. But operations on the pipeline ceased after Russia’s invasion of Ukraine in February 2022. This has resulted in to decrease in the supply of green ammonia which further impacted the growth of the market. This conflict has led to increased political tensions and economic sanctions, which have affected the production and transportation of green ammonia.
The global recession affected the green ammonia market significantly. With the economy slowing down, the demand for green ammonia has decreased, leading to a decline in prices for green ammonia fertilizers. According to the Agricultural Marketing Service (AMS), an agency of the U.S. Department of Agriculture, ammonia prices have steadily declined from $1,434 per ton on November 3rd, 2022, to $1,237 per ton on February 23rd, 2023. This decline of $197 per ton or nearly 14% has resulted in a decrease in production and sales, creating a challenging environment for companies operating in the green ammonia market.
Despite these challenges, there are still opportunities for growth in the green ammonia market. The agriculture industry, a major consumer of ammonia, is increasingly focused on sustainability. As a result, there is a growing demand for green ammonia as a fertilizer, which presents an opportunity for companies operating in the green ammonia market.
By Gasifier Technology
Proton Exchange Membrane
Solid Oxide Electrolysis
Alkaline Water Electrolysis
By Application
Power Generation
Refrigeration
Transportation
Others
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North America dominated the green ammonia market with a revenue share of about 29.36% in 2023. This dominance is attributed to the favorable government policies, technological advancements, and growing demand for sustainable energy sources. One of the key drivers of North America's success in the green ammonia market is its supportive regulatory environment. Governments in the region have implemented policies and regulations to encourage the adoption of renewable energy sources, including green ammonia. This has created a favorable business climate for companies operating in the industry, allowing them to invest in research and development and expand their operations. In addition, North America has been at the forefront of technological advancements in the green ammonia sector. The region boasts some of the world's leading research institutions and companies, which have developed innovative technologies to produce green ammonia more efficiently and cost-effectively. This has given North American companies a competitive edge in the global market, allowing them to offer high-quality products at competitive prices. Furthermore, the growing demand for sustainable energy sources has also contributed to North America's dominance in the green ammonia market. Consumers are increasingly aware of the environmental impact of traditional energy sources and are seeking out cleaner alternatives. Green ammonia, which is produced using renewable energy sources, is seen as a viable solution to this problem. As a result, the demand for green ammonia has been steadily increasing year by year.
Asia Pacific is expected to grow with a significant CAGR of about 136.25% during the forecast period in the green ammonia market This growth is driven by increasing demand for sustainable and environmentally-friendly energy sources, as well as the region's growing population and expanding industrial sector. As countries in the Asia Pacific region continue to prioritize sustainable development and reduce their carbon footprint, the demand for green ammonia as a clean energy source is expected to rise. Additionally, the region's large and growing population, coupled with its expanding industrial sector, is driving demand for energy sources that are both reliable and sustainable.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players are Siemens Energy, ThyssenKrupp AG, Nel Hydrogen, Yara International, MAN Energy Solutions, ITM Power PLC, Hydrogenics, McPhy Energy, Green Hydrogen Systems, EXYTRON, Electrochaea, and other key players mentioned in the final report.
In February 2023, Brooge Energy Ltd., an infrastructure provider based in the Cayman Islands, announced a partnership with Siemens Energy (Munich) through its subsidiary, Brooge Renewable Energy (BRE). The collaboration aims to construct a PV solar farm that will supply BRE's Green Hydrogen and Green Ammonia project in Abu Dhabi.
In April 2023, Yara Clean Ammonia (Yara), a subsidiary of Yara International ASA in the fertilizer and chemical industry, and VNG, a Leipzig-based gas company, plan to join forces in the field of clean ammonia. This collaboration will actively support the ambitious implementation plans outlined in the German Hydrogen Strategy.
| Report Attributes | Details |
| Market Size in 2023 | US$ 328.25Mn |
| Market Size by 2031 | US$ 29.53 Bn |
| CAGR | CAGR of 74.5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Gasifier Technology (Proton Exchange Membrane, Solid Oxide Electrolysis, and Alkaline Water Electrolysis) • By Application (Power Generation, Fertilizer, Refrigeration, Transportation, and Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Siemens Energy, ThyssenKrupp AG, Nel Hydrogen, Yara International, MAN Energy Solutions, ITM Power PLC, Hydrogenics, McPhy Energy, Green Hydrogen Systems, EXYTRON, Electrochaea |
| Key Drivers | • Increasing demand for renewable energy sources • Growing need to reduce greenhouse gas emissions |
| Market Opportunities | • Development of new technologies for the production and storage of the green ammonia • Increasing interest in sustainable agriculture practices |
Ans: The Green Ammonia Market recorded a value of 328.25 million in 2023.
Ans: The expected CAGR of the global Green Ammonia Market during the forecast period is 117.2%
Ans: The major key players in the Green Ammonia Market are Siemens Energy, ThyssenKrupp AG, Nel Hydrogen, Yara International, MAN Energy Solutions, ITM Power PLC, Hydrogenics, McPhy Energy, Green Hydrogen Systems, EXYTRON, Electrochaea.
Ans: North America led the Green Ammonia Market in 2023.
Ans: Lack of infrastructure for the storage and transportation of green ammonia and the high cost associated with the production of green ammonia are the restraining factors of the Green Ammonia Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Green Ammonia Market Segmentation, By Gasifier Technology
8.1 Proton Exchange Membrane
8.2 Solid Oxide Electrolysis
8.3 Alkaline Water Electrolysis
9. Green Ammonia Market Segmentation, By Application
9.1 Power Generation
9.2 Fertilizer
9.3 Refrigeration
9.4 Transportation
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Green Ammonia Market by Country
10.2.2North America Green Ammonia Market by Gasifier Technology
10.2.3 North America Green Ammonia Market by Application
10.2.4 USA
10.2.4.1 USA Green Ammonia Market by Gasifier Technology
10.2.4.2 USA Green Ammonia Market by Application
10.2.5 Canada
10.2.5.1 Canada Green Ammonia Market by Gasifier Technology
10.2.5.2 Canada Green Ammonia Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Green Ammonia Market by Gasifier Technology
10.2.6.2 Mexico Green Ammonia Market by Application
10.3 Europe
10.3.1 Europe Green Ammonia Market by Country
1.3.3.2 Europe Green Ammonia Market by Gasifier Technology
10.3.3 Europe Green Ammonia Market by Application
10.3.4Germany
10.3.4.1 Germany Green Ammonia Market by Gasifier Technology
10.3.4.2 Germany Green Ammonia Market by Application
10.3.5 UK
10.3.5.1 UK Green Ammonia Market by Gasifier Technology
10.3.5.2 UK Green Ammonia Market by Application
10.3.6 France
10.3.6.1 France Green Ammonia Market by Gasifier Technology
10.3.6.2 France Green Ammonia Market by Application
10.3.7 Italy
10.3.7.1 Italy Green Ammonia Market by Gasifier Technology
10.3.7.2 Italy Green Ammonia Market by Application
10.3.8 Spain
10.3.8.1 Spain Green Ammonia Market by Gasifier Technology
10.3.8.2 Spain Green Ammonia Market by Application
10.3.9 The Netherlands
10.3.9.1 Netherlands Green Ammonia Market by Gasifier Technology
10.3.9.2 Netherlands Green Ammonia Market by Application
10.3.10 Rest of Europe
10.3.10.1 Rest of Europe Green Ammonia Market by Gasifier Technology
10.3.10.2 Rest of Europe Green Ammonia Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Green Ammonia Market by Country
10.4.2Asia Pacific Green Ammonia Market by Gasifier Technology
10.4.3 Asia Pacific Green Ammonia Market by Application
10.4.4 Japan
10.4.4.1 Japan Green Ammonia Market by Gasifier Technology
10.4.4. 2Japan Green Ammonia Market by Application
10.4.5. South Korea
10.4.5.1 South Korea Green Ammonia Market by Gasifier Technology
10.4.5.2. South Korea Green Ammonia Market by Application
10.4.6 China
10.4.6.1 China Green Ammonia Market by Gasifier Technology
10.4.6.2. China Green Ammonia Market by Application
10.4.7 India
10.4.7.1 India Green Ammonia Market by Gasifier Technology
10.4.7.2. India Green Ammonia Market by Application
10.4.8 Australia
10.4.8.1 Australia Green Ammonia Market by Gasifier Technology
10.4.8.2. Australia Green Ammonia Market by Application
10.4.9 Rest of Asia-Pacific
10.4.9.1 APAC Green Ammonia Market by Gasifier Technology
10.4.9.2. APAC Green Ammonia Market by Application
10.5 The Middle East & Africa
10.5.1 The Middle East & Africa Green Ammonia Market by Country
10.5.2 The Middle East & Africa Green Ammonia Market by Gasifier Technology
10.5.3 The Middle East & Africa Green Ammonia Market by Application
10.5.4 Israel
10.5.7.1 Israel Green Ammonia Market by Gasifier Technology
10.5.7.2 Israel Green Ammonia Market by Application
10.5.5 UAE
10.5.5.1 UAE Green Ammonia Market by Gasifier Technology
10.5.5.2 UAE Green Ammonia Market by Application
10.5.6South Africa
10.5.6.1 South Africa Green Ammonia Market by Gasifier Technology
10.5.6.2 South Africa Green Ammonia Market by Application
10.5.7 Rest of Middle East & Africa
10.5.7.1 Rest of Middle East & Asia Green Ammonia Market by Gasifier Technology
10.5.7.2 Rest of Middle East & Asia Green Ammonia Market by Application
10.6 Latin America
10.6.1. Latin America Green Ammonia Market by Country
10.6.2. Latin America Green Ammonia Market by Gasifier Technology
10.6.3 Latin America Green Ammonia Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Green Ammonia Market by Gasifier Technology
10.6.4.2 Brazil Green Ammonia Market by Application
10.6.5Argentina
10.6.5.1 Argentina Green Ammonia Market by Gasifier Technology
10.6.5.2 Argentina Green Ammonia Market by Application
10.6.6 Rest of Latin America
10.6.6.1 Rest of Latin America Green Ammonia Market by Gasifier Technology
10.6.6.2 Rest of Latin America Green Ammonia Market by Application
11. Company Profile
11.1 Siemens Energy
11.1.1 Market Overview
11.1.2 Financials
11.1.3 Product/Services/Offerings
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 ThyssenKrupp AG
11.2.1 Market Overview
11.2.2 Financials
11.2.3 Product/Services/Offerings
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Nel Hydrogen
11.3.1 Market Overview
11.3.2 Financials
11.3.3 Product/Services/Offerings
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Yara International
11.4.1 Market Overview
11.4.2 Financials
11.4.3 Product/Services/Offerings
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 MAN Energy Solutions
11.5.1 Market Overview
11.5.2 Financials
11.5.3 Product/Services/Offerings
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 ITM Power PLC
11.6.1 Market Overview
11.6.2 Financials
11.6.3 Product/Services/Offerings
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Hydrogenics
11.7.1 Market Overview
11.7.2 Financials
11.7.3 Product/Services/Offerings
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 McPhy Energy
11.8.1 Market Overview
11.8.2 Financials
11.8.3 Product/Services/Offerings
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Green Hydrogen Systems
11.9.1 Market Overview
11.9.2 Financials
11.9.3 Product/Services/Offerings
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 EXYTRON
11.10.1 Market Overview
11.10.2 Financials
11.10.3 Product/Services/Offerings
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 Electrochaea
11.11.1 Market Overview
11.11.2 Financials
11.11.3 Product/Services/Offerings
11.11.4 SWOT Analysis
11.11.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
13. USE Cases and Best Practices
14. Conclusion
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