Global Green Ammonia Market Report and Forecast 2024-2032

Global Green Ammonia Market Outlook

The global green ammonia market size has grown to a value of more than 3.51 million tons in 2023. It is expected to expand further at a CAGR of roughly 58.3% in the forecast period of 2024-2032. The market value will reach around 218.69 million tons by 2032.

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News and Developments in the Market

In August 2023, Avaada Group, an integrated energy group, signed an MoU (Memorandum of Understanding) with the Rajasthan Government’s Department of industries and commerce for the setup of a green ammonia facility in Kota, Rajasthan.

The MoU signed is a part of the investment promotion strategy for the Invest Rajasthan Summit 2023 held in New Delhi. The proposal was an investment of Rs 40,000 crores. This development will provide direct and indirect employment to over 13,000 people.

In August 2023, The Suez Canal Economic Zone (SCZONE) signed 7 new Memorandum of Understanding  for green fuel production agreements with the Sovereign Fund of Egypt, Egyptian Electricity Transmission Company and (NREA) New and Renewable Energy Authority, with 7 International companies from India, United Kingdom, UAE, and Saudi Arabia.

In July 2023, Yara Clean Ammonia signed an agreement for collaboration with Pilbara Ports Authority to utilise clean ammonia as a marine fuel in Western Australia.

Yara clean ammonia has access to 18 ammonia terminals and several ammonia production and consumption sites, and they operate the global ammonia network with 12 ships, making it one of the biggest global networks for ammonia.

The agreement also states that safe bunker infrastructure and guidelines for safety analysis will be followed to accelerate the creation and uptake of clean ammonia.

Global Green Ammonia Market Trends

Ammonia is a colourless gas, composed of nitrogen and hydrogen. It has a very pungent smell. Ammonia is essential for many biological processes. Green ammonia is made with hydrogen that comes from water electrolysis and is 100% renewable and carbon-free.

• The growing need for renewable energy generation is driving the green ammonia market due to depleting fossil fuel reserves.

• Ammonia is rising as maritime fuel, which helps in minimising carbon pollution. This is making multiple chemical producers transition into manufacturing sustainable and environmentally friendly products, like green ammonia.

• Green ammonia is also increasingly being implemented for organic fertilisers as the demand for sustainable agricultural production methods rises.

Global Green Ammonia Market Analysis

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Based on technology, the market segments include alkaline water electrolysis and proton exchange membrane. Based on the end-user, it can be bifurcated into fertiliser, chemical and petrochemicals, utilities, and marine transport, among other uses. The regional markets for the green ammonia market can be divided into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

The extensive EMR report provides an in-depth evaluation of the market based on Porter's five forces model and a SWOT analysis

The green ammonia market report comprehensively analyses key players in the market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• CF Industries Holding, Inc.

• Yara International

• Iberdrola, S.A.

• Acme Group

• OCI N.V.

• Nort H2

• Greenfield Nitrogen LLC

• Madoqua Renewables

• NextChem

• FerSam Group

• Others

Technologies in the Green Ammonia Market include Alkaline Water Electrolysis and Proton Exchange Membrane

Based on technology, the market is divided into alkaline water electrolysis and proton exchange membrane. The alkaline water electrolysis is a hydrogen production method in which water is split into hydrogen and oxygen gas with the use of electricity.

It is one of the oldest and the most widely adopted water electrolysis technology. It gives manufacturers the ability to scale up the megawatt range for production capacities.

Although the process can be very demanding with capital investment, operational, and maintenance expenses, proton exchange membranes are easier to construct than alkaline technology. Although PEM is the more expensive option, it has greater potential for cost reduction and technical improvements.

Green Ammonia finds End-Uses in Fertiliser, Chemical, Petrochemicals, Utilities, and Marine Transport

Based on end-uses, the green ammonia market includes fertiliser, chemical and petrochemicals, utilities, and marine transport, among others.

The agricultural industry is experiencing an increased demand for sustainable, eco-friendly fertilisers. This is due to the increased environmental concerns and rising soil quality due to the overuse of chemical fertilisers. This is expected to propel the demand for green ammonia in the market as it reduces the generation of carbon.

Green ammonia has been increasingly adopted as a marine fuel alternative as this fuel generates no carbon dioxide when burned. In addition, it is a sustainable option and can be made with renewable materials like water and air.

Region Outlook for Green Ammonia Market

Among the various regional markets for green ammonia, Europe is expected to hold major shares of the market owing to the increasing implementation of renewable energy sources. With governments of different countries in the region promoting and investing in the development of renewable energy sources, the market is likely to witness robust growth.

North American governments are also increasing their adoption of green ammonia in agricultural procedures to reduce environmental degradation.

The Asia Pacific market is expected to rise rapidly as countries like China, India, and Japan are increasingly shifting towards renewable energy due to depleting fossil fuel energy reserves.

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Competitive Landscape

CF Industries Holding Inc. is a global company engaged in manufacturing and providing clean energy to increase sustainability. Their products include ammonia, urea, urea ammonium nitrate, ammonium nitrate, and fertilisers, among other products.

They have 9 complexes in the United States, Canada, and the United Kingdom, which comprises of 17 ammonia plants.

Yara International is a chemical company based in Norway. They are engaged in the production of green fertilisers, climate-friendly crop nutrition, and digital farming tools for precision farming.

Their products include nitrogen fertiliser, fertigation, and foliar.

Iberdrola S.A. is a multinational electric utility company based in Spain. They are actively engaged in innovating and manufacturing unique products. Their products include smart solar, smart mobility, and smart metres, among many other products that promote energy management and saving.

Acme Group is a leading global company in providing sustainable and renewable energy. They are setting up world-scale green ammonia and hydrogen plants in SCZONE in Oman.

This facility will aim to meet the demands in Europe and Asia. With this facility, they will aim to produce around 0.9 million tons of green ammonia every year.

OCI N.V. is a global producer and distributor of products based on nitrogen and methanol. They provide energy solutions to agricultural and industrial customers.

Their nitrogen fertilisers include anhydrous ammonia, granular urea, calcium ammonium nitrate, urea ammonium nitrate, and ammonium sulphate.

Their production capacity is approximately 16.1 million tons per year.

Nort H2 is an association of several companies including Equinor, Eneco, Gasunie, Groningen Seaports, RWE, and Shell Netherlands. These companies are currently involved in researching the possibility of the application of large-scale production, storage, and distribution of green hydrogen.

Greenfield Nitrogen LLC is a company in the United States that is focused on creating a network for green hydrogen and ammonia plants to serve the rising renewable energy need in the market.

Madoqua Renewables is a renewable chemical project company working in south Europe and Netherlands region. Their expertise lies in the development of sustainable infrastructure development and energy transition to renewable alternatives.

They are directly focused on producing and distributing hydrogen and its derivatives including green ammonia, methanol, and synthetic fuels.

NextChem is a subsidiary of Maire Tecnimont, operating in the field of green and renewable chemicals and energy transition technologies. It is based in Italy.

Their services help in energy transition and reduce the harmful impact on our environment.

Key Highlights of the Report