Green Ammonia Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031

Description

The global green ammonia market is set for unprecedented growth, with its valuation anticipated to rise from $235.4 million in 2024 to $11.53 billion by 2031, reflecting a remarkable CAGR of 74.4% during the forecast period. Green ammonia, produced using renewable energy sources, has emerged as a sustainable alternative, addressing environmental challenges and promoting energy efficiency across industries.

Market Insights

Green ammonia, derived through eco-friendly processes powered by wind, solar, or hydropower, is gaining traction due to its sustainability and lower carbon footprint compared to traditional ammonia. Key trends driving the market include:

Climate-conscious production: The need to reduce greenhouse gas emissions has positioned green ammonia as a viable solution.
Technological advancements: Innovations in electrolysis and nitrogen synthesis are making green ammonia production more efficient.
Policy and subsidy support: Governments worldwide are implementing initiatives to promote green technologies, bolstering market growth.

These factors, combined with rising environmental awareness and the demand for renewable resources, underscore the market's potential.

Market Growth Drivers

1. Regulatory Initiatives and Policy Support

Governments worldwide are implementing policies to transition towards greener technologies. Traditional ammonia production contributes over 400 million tons of CO2 annually, more than 1% of global emissions. In response:

India's National Green Hydrogen Mission: Targets 550,000 MT of green ammonia production with a regulatory framework to support hydrogen and its derivatives.
Global commitments: Agreements like the Paris Accord incentivize green ammonia adoption through subsidies, tax credits, and grants.

These initiatives are encouraging manufacturers to adopt sustainable practices and invest in green ammonia technologies.

2. Sustainability in Agriculture

Green ammonia is gaining popularity in agriculture as a sustainable alternative to traditional fertilizers. With rising environmental concerns, farmers are shifting towards eco-friendly practices.

Studies show green ammonia fertilizers can reduce farming's carbon footprint by 90%, especially for corn and grain crops.
This shift is transforming agriculture, aligning it with global sustainability goals.

Market Restraints

1. Inadequate Infrastructure

Green ammonia production requires specialized infrastructure for electrolysis, storage, and transportation. Many regions lack the necessary facilities, hindering scalability.

Traditional ammonia relies on established supply chains, whereas green ammonia faces challenges in adapting infrastructure to integrate renewable energy sources.

2. High Costs

The high initial investment for green ammonia plants and the cost of electrolysis processes pose challenges.

Green ammonia production requires substantial renewable energy, elevating both operational and capital costs.
Despite long-term benefits, the upfront cost remains a barrier for widespread adoption.

Future Opportunities

1. Technological Advancements

Advancements in electrolyzer technologies promise to reduce production costs and increase efficiency. Notable developments include:

Siemens Energy and Fortescue Future Industries investing in industrial-scale green ammonia technologies.
A $5 billion green ammonia plant in NEOM aiming to build a zero-carbon city.

Such innovations are set to drive down costs and accelerate adoption in the coming years.

2. Expanding Agricultural Applications

The agriculture sector presents significant growth opportunities:

Increasing demand for sustainable fertilizers is expected to boost green ammonia consumption.
Farmers and agribusinesses are likely to invest in green ammonia to meet eco-friendly standards, driving market growth.

Regional Analysis

1. Europe: Leading the Charge

Europe dominates the green ammonia market due to its:

Stringent environmental regulations and commitment to sustainability.
Strong focus on renewable energy and technological innovations in ammonia production.
Established infrastructure and support for green hydrogen initiatives.

2. Asia Pacific: Rapid Growth

Asia Pacific is set to experience rapid growth driven by:

Rising agricultural demand and industrialization in countries like India and China.
Significant investments in renewable energy infrastructure to support green ammonia production.

3. North America: Strong Potential

North America's market growth is fueled by:

Advanced technology adoption in ammonia production.
Supportive policies and incentives for green energy projects.

Competitive Analysis

The green ammonia market is witnessing intense competition among key players, focusing on innovation, strategic collaborations, and investments. Leading companies include:

CF Industries Holdings, Inc
BASF SE
Yara International ASA
Maire Tecnimont S.p.A.
ACME Group
Fertiglobe plc
NEL Hydrogen
ThyssenKrupp AG
ITM Power
Holder Topsoe
Green Hydrogen Systems
Greenfield Nitrogen LLC
Siemens
Others

Green Ammonia Market Segmentation

By Production Process:

Alkaline Water Electrolysis
Proton Exchange Membrane
Solid Oxide Electrolysis

By End Use:

Fertilizer
Transportation
Power Generation
Industrial Feedstock
Others

By Region:

North America
Latin America
Europe
Asia Pacific
East Asia
Middle East and Africa (MEA)

1. Executive Summary

1.1. Global Green Ammonia Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Economic Overview
- 2.6.1. World Economic Projections
2.7. PESTLE Analysis

3. Price Analysis, 2019 - 2023

3.1. Global Average Price Analysis by Production Process, 2019 - 2023
3.2. Prominent Factor Affecting Green Ammonia Prices
3.3. Global Average Price Analysis by Region

4. Global Green Ammonia Market Outlook, 2019 - 2031

4.1. Global Green Ammonia Market Outlook, by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Alkaline Water Electrolysis
  - 4.1.1.2. Proton Exchange Membrane
  - 4.1.1.3. Solid Oxide Electrolysis
4.2. Global Green Ammonia Market Outlook, by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Fertilizer
  - 4.2.1.2. Transportation
  - 4.2.1.3. Power Generation
  - 4.2.1.4. Industrial Feedstock
  - 4.2.1.5. Others
4.3. Global Green Ammonia Market Outlook, by Region, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. North America
  - 4.3.1.2. Europe
  - 4.3.1.3. Asia Pacific
  - 4.3.1.4. Latin America
  - 4.3.1.5. Middle East & Africa

5. North America Green Ammonia Market Outlook, 2019 - 2031

5.1. North America Green Ammonia Market Outlook, by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Alkaline Water Electrolysis
  - 5.1.1.2. Proton Exchange Membrane
  - 5.1.1.3. Solid Oxide Electrolysis
5.2. North America Green Ammonia Market Outlook, by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Fertilizer
  - 5.2.1.2. Transportation
  - 5.2.1.3. Power Generation
  - 5.2.1.4. Industrial Feedstock
  - 5.2.1.5. Others
- 5.2.2. Attractiveness Analysis
5.3. North America Green Ammonia Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. U.S. Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 5.3.1.2. U.S. Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 5.3.1.3. Canada Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 5.3.1.4. Canada Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031

6. Europe Green Ammonia Market Outlook, 2019 - 2031

6.1. Europe Green Ammonia Market Outlook, by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Alkaline Water Electrolysis
  - 6.1.1.2. Proton Exchange Membrane
  - 6.1.1.3. Solid Oxide Electrolysis
6.2. Europe Green Ammonia Market Outlook, by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Fertilizer
  - 6.2.1.2. Transportation
  - 6.2.1.3. Power Generation
  - 6.2.1.4. Industrial Feedstock
  - 6.2.1.5. Others
- 6.2.2. Attractiveness Analysis
6.3. Europe Green Ammonia Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Germany Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.2. Germany Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.3. U.K. Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.4. U.K. Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.5. France Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.6. France Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.7. Italy Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.8. Italy Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.9. Turkey Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.10. Turkey Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.11. Russia Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.12. Russia Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.13. Rest of Europe Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 6.3.1.14. Rest of Europe Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031

7. Asia Pacific Green Ammonia Market Outlook, 2019 - 2031

7.1. Asia Pacific Green Ammonia Market Outlook, by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Alkaline Water Electrolysis
  - 7.1.1.2. Proton Exchange Membrane
  - 7.1.1.3. Solid Oxide Electrolysis
7.2. Asia Pacific Green Ammonia Market Outlook, by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Fertilizer
  - 7.2.1.2. Transportation
  - 7.2.1.3. Power Generation
  - 7.2.1.4. Industrial Feedstock
  - 7.2.1.5. Others
- 7.2.2. Attractiveness Analysis
7.3. Asia Pacific Green Ammonia Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. China Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.2. China Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.3. Japan Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.4. Japan Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.5. South Korea Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.6. South Korea Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.7. India Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.8. India Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.9. Southeast Asia Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.10. Southeast Asia Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.11. Rest of Asia Pacific Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 7.3.1.12. Rest of Asia Pacific Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031

8. Latin America Green Ammonia Market Outlook, 2019 - 2031

8.1. Latin America Green Ammonia Market Outlook, by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Alkaline Water Electrolysis
  - 8.1.1.2. Proton Exchange Membrane
  - 8.1.1.3. Solid Oxide Electrolysis
8.2. Latin America Green Ammonia Market Outlook, by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Fertilizer
  - 8.2.1.2. Transportation
  - 8.2.1.3. Power Generation
  - 8.2.1.4. Industrial Feedstock
  - 8.2.1.5. Others
- 8.2.2. Attractiveness Analysis
8.3. Latin America Green Ammonia Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. Brazil Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 8.3.1.2. Brazil Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 8.3.1.3. Mexico Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 8.3.1.4. Mexico Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 8.3.1.5. Argentina Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 8.3.1.6. Argentina Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 8.3.1.7. Rest of Latin America Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 8.3.1.8. Rest of Latin America Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031

9. Middle East & Africa Green Ammonia Market Outlook, 2019 - 2031

9.1. Middle East & Africa Green Ammonia Market Outlook, by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Alkaline Water Electrolysis
  - 9.1.1.2. Proton Exchange Membrane
  - 9.1.1.3. Solid Oxide Electrolysis
9.2. Middle East & Africa Green Ammonia Market Outlook, by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Fertilizer
  - 9.2.1.2. Transportation
  - 9.2.1.3. Power Generation
  - 9.2.1.4. Industrial Feedstock
  - 9.2.1.5. Others
- 9.2.2. Attractiveness Analysis
9.3. Middle East & Africa Green Ammonia Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2019 - 2031
- 9.3.1. Key Highlights
  - 9.3.1.1. GCC Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 9.3.1.2. GCC Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 9.3.1.3. South Africa Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 9.3.1.4. South Africa Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 9.3.1.5. Egypt Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 9.3.1.6. Egypt Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 9.3.1.7. Nigeria Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 9.3.1.8. Nigeria Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 9.3.1.9. Rest of Middle East & Africa Green Ammonia Market by Production Process, Value (US$ Mn) and Volume (Units), 2019 - 2031
  - 9.3.1.10. Rest of Middle East & Africa Green Ammonia Market by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031

10. Competitive Landscape

10.1. By Derivative vs by End Use Heatmap
10.2. Company Market Share Analysis, 2024
10.3. Competitive Dashboard
10.4. Company Profiles
- 10.4.1. CF Industries Holdings, Inc
  - 10.4.1.1. Company Overview
  - 10.4.1.2. Product Portfolio
  - 10.4.1.3. Financial Overview
  - 10.4.1.4. Business Strategies and Development
- 10.4.2. BASF SE
  - 10.4.2.1. Company Overview
  - 10.4.2.2. Product Portfolio
  - 10.4.2.3. Financial Overview
  - 10.4.2.4. Business Strategies and Development
- 10.4.3. Yara International ASA
  - 10.4.3.1. Company Overview
  - 10.4.3.2. Product Portfolio
  - 10.4.3.3. Financial Overview
  - 10.4.3.4. Business Strategies and Development
- 10.4.4. Maire Tecnimont S.p.A.
  - 10.4.4.1. Company Overview
  - 10.4.4.2. Product Portfolio
  - 10.4.4.3. Financial Overview
  - 10.4.4.4. Business Strategies and Development
- 10.4.5. ACME Group
  - 10.4.5.1. Company Overview
  - 10.4.5.2. Product Portfolio
  - 10.4.5.3. Financial Overview
  - 10.4.5.4. Business Strategies and Development
- 10.4.6. Fertiglobe plc
  - 10.4.6.1. Company Overview
  - 10.4.6.2. Product Portfolio
  - 10.4.6.3. Financial Overview
  - 10.4.6.4. Business Strategies and Development
- 10.4.7. NEL Hydrogen
  - 10.4.7.1. Company Overview
  - 10.4.7.2. Product Portfolio
  - 10.4.7.3. Financial Overview
  - 10.4.7.4. Business Strategies and Development
- 10.4.8. ThyssenKrupp AG
  - 10.4.8.1. Company Overview
  - 10.4.8.2. Product Portfolio
  - 10.4.8.3. Financial Overview
  - 10.4.8.4. Business Strategies and Development
- 10.4.9. ITM Power
  - 10.4.9.1. Company Overview
  - 10.4.9.2. Product Portfolio
  - 10.4.9.3. Financial Overview
  - 10.4.9.4. Business Strategies and Development
- 10.4.10. Holder Topsoe
  - 10.4.10.1. Company Overview
  - 10.4.10.2. Product Portfolio
  - 10.4.10.3. Financial Overview
  - 10.4.10.4. Business Strategies and Development
- 10.4.11. Green Hydrogen Systems
  - 10.4.11.1. Company Overview
  - 10.4.11.2. Product Portfolio
  - 10.4.11.3. Financial Overview
  - 10.4.11.4. Business Strategies and Development
- 10.4.12. Greenfield Nitrogen LLC
  - 10.4.12.1. Company Overview
  - 10.4.12.2. Product Portfolio
  - 10.4.12.3. Financial Overview
  - 10.4.12.4. Business Strategies and Development
- 10.4.13. Siemens
  - 10.4.13.1. Company Overview
  - 10.4.13.2. Product Portfolio
  - 10.4.13.3. Financial Overview
  - 10.4.13.4. Business Strategies and Development

11. Appendix

11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations

List of Region/Countries

North America U.S. Canada
Europe Germany U.K. France Italy Turkey Russia Rest of Europe
Asia Pacific China Japan South Korea India Southeast Asia Rest of Asia Pacific
Latin America Brazil Mexico Rest of Latin America
Middle East & Africa GCC South Africa Rest of Middle East & Africa