BIS Research Study Highlights Global Green Ammonia Market to Reach $18.8 Billion by 2031
FREMONT, Calif., June 9, 2022 /PRNewswire/ — The global green ammonia market is expected to reach $18.28 billion in terms of revenue by 2031, at a CAGR of 23.24%, suggests BIS Research’s premium study.
Green ammonia refers to ammonia produced by processes that use renewable energy sources such as wind, hydro and solar.
Green ammonia plays a crucial role in meeting the challenges of food production to feed the ever-growing world population and as CO2-free source of energy. The growth of the green ammonia market is driven by the growing awareness of the use of green chemicals, the growing attention to reducing carbon emissions, and the technological developments related to the use of green ammonia .
The market is expected to benefit from the growing focus on green fuel as green ammonia is used for shipping. The growing focus on reducing greenhouse gas (GHG) emissions is expected to create potential market demand for green ammonia.
The detailed study is a compilation of 101 market data tables and 13 figures spread over 189 pages and an in-depth TOC on “Global Green Ammonia Market – Analysis and Forecast, 2022-2031″
Demand – Drivers and Limits
The following are the demand drivers for the green ammonia market:
- Increased consumer awareness and preference for sustainable products
- Strict rules and regulations related to carbon emissions
- Increased investment in green ammonia production
The market is expected to face some limitations owing to the following challenges:
- Low marketing of green ammonia
- High cost of production
Reasons to buy this report
This exclusive Global Green Ammonia Market Report will help you in the following ways:
- An in-depth competitive benchmarking analysis of 14 key players has been conducted to provide a holistic view of the global Green Ammonia market landscape.
- Market segregation based on production technology.
- Investment landscape including product adoption scenario, financing and patent analysis.
Market Analyst’s View:
According Prasad Gaderesearch analyst, BIS Research“Green ammonia is the best substitute for traditionally manufactured ammonia because it is highly sustainable. The growing shift towards environmentally friendly products and services and the increased demand for efficient energy is one of the key drivers of market growth.”
See the report in the global green ammonia market
Key Companies Operating in the Market and Competitive Landscape
The companies profiled were selected based on input collected from primary experts, analyzing company coverage, product portfolio and market penetration.
In 2024, the major players in the segment expected to lead the green ammonia market are expected to enter the market using long-term solid oxide electrolysis (SOE) technology, which accounts for approximately 56.8% of the market. Players using other technologies, including alkaline water electrolysis (AWE) account for 36.3% and proton exchange membrane (PEM), account for around 6.9% of total production.
Some of the most prominent established names in this market are:
Business Type 1: Solid Oxide Electrolysis (SOE)
- H2U Technologies, Inc.
- Haldor Topsoe A/S
- ACME Group
- NewGen Energy Ltd.
Business Type 2: Alkaline Water Electrolysis (AWE)
- Thyssenkrupp SA
- Yara International
- CF Industries Holdings, Inc.
- Air Products Inc.
Business Type 3: Proton Exchange Membrane (PEM)
- Iberdrola S.A.
Companies that are not part of the previously mentioned pool have been well represented in the various sections of the report (where applicable).
Who should buy this report?
Companies that produce and market Green Ammonia and Traditionally Manufactured Ammonia, end-use sectors, research institutes and regulatory bodies involved in Green Ammonia should purchase this report.
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Key questions answered by the report:
- What are the major drivers and trends impacting the green ammonia market?
- What impact has COVID-19 had on the green ammonia market across the globe?
- What are the steps taken by existing players to improve their market positioning, and what are some of the key strategies adopted by new players entering this market?
- What are the main production technologies and end-use sectors in the market, and how will they perform in the coming years?
- What are the latest developments around the world for the green ammonia industry and what are the consumption patterns?
- For a new company looking to enter the green ammonia market, what areas could it focus on to stay ahead of the existing competition?
- What kinds of new strategies are being adopted by existing market players to strengthen their market position in the industry?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focused on deep technologies and related emerging trends that may disrupt market dynamics in the near future. We publish over 200 market intelligence studies annually that focus on multiple deep technology verticals.
Our strategic market analysis emphasizes market estimates, technology analysis, high growth emerging applications, deeply segmented country-level granular market data, and other significant market parameters helpful in making strategic decision making for senior management.
BIS Research offers group studies as well as custom studies and expert consultations to companies, providing them with specific and actionable insights into new technology markets, business models and the competitive landscape.
BIS Healthcare vertical offers health technology market insights for medical devices, digital health, life sciences, robotics and imaging, information technology, precision medicine and other emerging health technologies, spanning the entire industry spectrum. Over the past 5 years, BIS Healthcare has published over 50 reports under the Precision Medicine banner. Additionally, BIS Research has successfully nominated the top 25 precision medicine voices on its Insight Monk platform for the past two years.
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