Kenneth Research, in its repository of market research reports, have recently added a report on the Global Green Ammonia Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Global Green Ammonia Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global Green Ammonia Market products.
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It is also anticipated to grow on account of the growing demand for alternative renewable energy sources, backed by the growing concern for pollution worldwide emitted from burning conventional fuel sources. Total electricity capacity from renewable energy sources around the world increased from around 750,000MW in 2000 to about 2,500,000MW in 2019. Additionally, electricity from hydropower energy, wind, solar, and bioenergy, grew from around 780000MW, 16000MW, 1200MW, and 29000MW in 2000 to 1300000MW, 620000MW, 580000MW, and 120000MW in 2019 respectively.
Global Green Ammonia Market is valued approximately at USD 9.52 million in 2019 and is anticipated to grow with a healthy growth rate of more than 53.90% over the forecast period 2020-2027. Green ammonia production is where the process of making ammonia is 100% renewable and carbon-free. Contrasting from conventional ammonia, which is manufactured using natural gas as feedstock, green ammonia is made by using solar/wind/hydropower to produce electricity that then feeds an electrolyser to extract hydrogen from water, while nitrogen is separated from air using an air separation unit. Increasing investments in green fuel and large-scale green energy plans drive the green Ammonia market. Furthermore, growing governmental stringency towards reduction of greenhouse gas emissions from traditional ammonia methods propels the attention towards green ammonia. Moreover, ammonia is extensively used in multiple end-use industries namely, fertilizers, dyes, fabrics, explosives and pesticides. The extensive use of Ammonia in these industries and the parallel shift towards green ammonia drives the market growth. Worldwide, about 72% of the total ammonia is fashioned from natural gas by means of the steam reforming process. This fallouts in high level of carbon dioxide discharges. However, Higher preliminary capital requirements for green ammonia plant set-up impedes the growth of the market over the forecast period of 2020-2027. Although, use of ammonia as a maritime fuel presents a lucrative opportunity for the market. The International Maritime Organization (IMO) 2020 protocols has lowered the limit of sulfur in transportation oil utilized in onboard ships to 0.5% m/m (mass by mass). This will result in transition towards higher quality marine fuels, which will bring growth opportunities for the green ammonia market.
The regional analysis of global Green Ammonia market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the extensive use of ammonia and stringent government regulations. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as booming chemical production and rising focus towards renewable energy production would create lucrative growth prospects for the Green Ammonia market across Asia-Pacific region.
Major market player included in this report are:
MAN Energy Solutions
Green Hydrogen Systems
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Alkaline Water Electrolysis (AWE)
Proton Exchange Membrane (PEM)
Solid Oxide Electrolysis (SOE)
By End User:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2022 to 2031
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Target Audience of the Global Green Ammonia Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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