Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Ammonia Crackers Market - Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific ammonia crackers market (excluding China) is projected to reach $458.52 million by 2032, growing at a CAGR of 27.5% during the forecast period 2023-2032. A sustainable future is supported by hydrogen and its components, such as ammonia, which are essential to the green transition and natural gas replacement. Additionally, due to its low volumetric density even when compressed to high pressures or liquefied, hydrogen makes usage as an economically viable energy vector easier in a variety of applications, including industrial and transportation. Hydrogen has been produced near to its delivery and consumption points, requiring little in the way of specialized transportation infrastructure. 
Trends: Current and Future
- Ongoing Research for Scaling Up of Cracking Technologies
- Transition towards Low-Carbon Hydrogen, Aiding the Growth of Ammonia Crackers
Business Dynamics
- Business Drivers
- Increasing Awareness Regarding Green Hydrogen
- Increased Adoption of Ammonia Crackers in End-User Industries
- Need for Effective Hydrogen Carrier
- Business Challenges
- Toxicity of Liquid Ammonia and Trace Amounts of Ammonia in Hydrogen after Decomposition
- High Cost of Green Hydrogen Production and Requirement of Significant Amount of Energy in Cracking
- Business Strategies
- Product and Market Developments
- Corporate Strategies
- Mergers and Acquisitions, Partnerships, and Joint Ventures
- Business Opportunities
- Government Initiatives for Net-Zero Emission
- Increasing Adoption of Green Hydrogen into Mobility Sector
Market Introduction
The market for ammonia crackers is showing signs of heterogeneity, with large-scale counterparts still in the process of developing and small-scale counterparts at the mature stage. The producers of green hydrogen and green ammonia, technology suppliers, end customers, and primary ammonia cracker manufacturers make up this vibrant ecosystem. The market is still in its evolutionary stage, with Europe and Asia-Pacific leading the way. These areas are closely followed by China, North America, the United Kingdom, and the Rest of the World, all of which support worldwide innovation and growth in this field.
Market Segmentation
Segmentation 1: by End User
- Heat Treatment
- Metal Industry
- Oil and Gas
- Power Generation
- Mobility
- Others
Segmentation 2: by Cracker Type
- Centralized
- Decentralized
Segmentation 3: by Capacity
- Small Scale (< 250 Nm3/hr)
- Medium Scale (250-1,000 Nm3/hr)
- Large Scale (>1,000 Nm3/hr)
Segmentation 4: by Region
- China
- Asia-Pacific and Japan - Japan, India, South Korea, and Rest-of-Asia-Pacific & Japan
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and regional presence. Some of the prominent names in this market are:
- Suzhou Since Gas Technology Co. Ltd.
- Nuberg GPD
- MVS Engineering Pvt. Ltd.
Key Questions Answered in the Report
- What are the major market drivers, challenges, and opportunities in the Asia-Pacific ammonia crackers market?
- What are the steps taken by the existing players to improve/maintain their market positioning, and what are some of the key strategies adopted by new players entering this market space?
- Which are the major companies in the ammonia crackers ecosystem? What are their market shares?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 84 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $51.48 Million |
| Forecasted Market Value (USD) by 2032 | $458.52 Million |
| Compound Annual Growth Rate | 27.5% |
| Regions Covered | Asia Pacific |
For more information about this report visit https://www.researchandmarkets.com/r/2hjpas
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