Dublin, Sept. 23, 2024 (GLOBE NEWSWIRE) -- The "Global Low Carbon Ammonia Market (2024 Edition): Analysis By Type (Green Ammonia, and Blue Ammonia), By Technology, By End-Use, By Region, By Country: Market Insights and Forecast (2022-2032)" report has been added to ResearchAndMarkets.com's offering.
The report provides a complete analysis for the historical year 2022, the Actual year 2023, the estimates of 2024 and the forecast period of 2027-2032.
Global Low Carbon Ammonia market showcased growth at a CAGR of 46.98% during 2022-2025. The market was valued at USD 691.39 Million in 2023 which is expected to reach USD 56,048.60 Million in 2032. The demand for low carbon ammonia is not only driven by traditional fertilizer and industrial applications but also by emerging sectors such as energy storage, hydrogen fuel cells, and green transportation.
The low-carbon ammonia market is expected to experience significant growth in the coming years, driven by increasing environmental awareness, government support, and technological advancements. Regional variations in renewable energy availability, policy frameworks, and market demand will influence the pace and scale of low carbon ammonia adoption across different parts of the world.
Ammonia is already a strategically important global commodity. While it has a range of various applications in the chemical industry, refrigeration, mining, pharmaceuticals, etc., it is its use for the production of synthetic nitrogen fertilisers which makes it a key element in global food security, supporting food production for around half of the global population.
Additionally, Low carbon ammonia has a carbon footprint markedly lower than fossil fuels, so it can be used as a clean energy source for Power generation and energy storage, as an energy carrier to facilitate international trade for renewable energy, and as an alternative fuel - with the most promising market being international shipping.
Moreover, the ammonia industry is inextricably linked to the hydrogen industry. To reach global ambitions of transitioning into a carbon neutral economy by 2050, appropriate green energy storage becomes more and more important and Low carbon ammonia rises in interest not only as a feedstock for the production of fertilisers or other chemicals but also as an energy or hydrogen carrier.
Furthermore, Ammonia is also used directly as a fertilizer in North America. Ammonia-derived fertilizers are vital for supporting global food production; by one estimate, only half of the current global population could be fed without synthetic ammonia. Japan and South Korea have set ambitious targets for the use of low carbon hydrogen and ammonia in their national energy strategies. The escalation of carbon emissions penalties in the European Union and the introduction of the Carbon Border Adjustment Mechanism (CBAM) in 2026 will enhance the competitiveness of LC ammonia supply in Europe and beyond.
Scope of the Report
- The report analyses the Low Carbon Ammonia Market by Value (USD Million).
- The report analyses the Low Carbon Ammonia Market by Volume (000' Metric Tonnes).
- The report analyses the Low Carbon Ammonia Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Brazil, Germany, United Kingdom, France, China, Japan, South Korea, and India).
- The report presents the analysis of Low Carbon Ammonia Market for the historical year 2022, the Actual year 2023, the estimates of 2024 and the forecast period of 2027-2032.
- The report analyses the Low Carbon Ammonia Market By Type (Green Ammonia, and Blue Ammonia)
- The report analyses the Low Carbon Ammonia Market By Technology (Solid Oxide Electrolysis, Alkaline Water Electrolysis, Proton Exchange Membrane Electrolyzer, Steam Methane Reforming (SMR), Autothermal Reforming (ATR), and Gasification).
- The report analyses the Low Carbon Ammonia Market By End-Use (Industrial Feedstock, Power Generation, Transportation, and Other End-Uses).
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Types, by Technology & by End-Use.
- Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
Analyst Recommendations
- Technological Advancements and Industry Collaboration
- Diversify Market Applications
Competitive Positioning
- Companies' Product Positioning
- Market Position Matrix
- Market Share Analysis of Low Carbon Ammonia Market
Company Profiles
- Siemens Energy AG
- ThyssenKrupp AG
- Yara International ASA
- Saipem S.p.A.
- Nutrien
- Technip Energies NV
- CF Industries Holdings, Inc.
- Toyo Engineering Corporation
- LSB Industries, Inc.
- Nel ASA
For more information about this report visit https://www.researchandmarkets.com/r/cd5oon
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