New York, United States, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The Global Blue Ammonia Market Size is to Grow from USD 36.2 Million in 2022 to USD 5,847 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 66.2% during the projected period.
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Blue ammonia, an emerging novelty in the energy sector, acts as a conduit for hydrogen transport and utilization, particularly in the context of sustainable energy transitions. The applicability of blue ammonia extends to a wide range of applications. It establishes itself as a renowned hydrogen carrier, providing a safe and efficient means of transporting hydrogen, a clean energy source. Furthermore, the applications of blue ammonia are not restricted to hydrogen transfer. It has the potential to replace or supplement traditional fossil fuels as a direct fuel source, particularly in power generation. Furthermore, it could serve as a more environmentally friendly feedstock in a variety of businesses, signaling a transition toward more sustainable industrial methods. The global blue ammonia market is a developing but essential dependent within the sustainable energy industry. Blue ammonia is distinguished by its environmentally friendly manufacturing procedure. Unlike traditional ammonia manufacturing, which emits considerable CO2, blue ammonia techniques collect and store these emissions, making it a more environmentally friendly option. Blue ammonia is looking as a potent challenger, with an opportunity to drastically impact the international energy and chemical industrial landscapes, as governments look for sustainable energy choices and decreased carbon footprints.
Browse key industry insights spread across 210 pages with 110 market data tables and figures & charts from the report on the "Global Blue Ammonia Market Size, Share, and COVID-19 Impact Analysis, By Technology (Steam Methane Reforming, Autothermal Reforming, Gas Partial Oxidation), By Application (Power Generation, Industrial Feedstock, Agriculture, Pharmaceuticals, Transportation, Chemical & Petrochemicals, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The steam methane reforming segment is dominating the market with the largest revenue share over the forecast period.
On the basis of technology, the global blue ammonia market is segmented into the steam methane reforming, autothermal reforming, and gas partial oxidation. Among these, the steam methane reforming segment is dominating the market with the largest revenue share of 57.3% over the forecast period, primarily due to its established nature, existing infrastructure, and high efficiency at large scales. One of the most prevalent methods for creating hydrogen is steam methane reforming. Methane (from natural gas) reacts with water in the presence of a catalyst to produce hydrogen and carbon dioxide.
The agriculture segment accounted for the largest revenue share of more than 32.8% over the forecast period.
On the basis of application, the global blue ammonia market is segmented into power generation, industrial feedstock, agriculture, pharmaceuticals, transportation, chemical & petrochemicals, and others. Among these, the agriculture segment is dominating the market with the largest revenue share of 32.8% over the forecast period due to its extensive use as a fertilizer. Ammonia is used extensively in agriculture, particularly as a fertilizer in the form of urea and ammonium nitrate. The agriculture sector can reduce its carbon footprint by employing blue ammonia, promoting more sustainable farming techniques.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 38.7% market share over the forecast period. This is owing to increased efforts in this region by key market participants in establishing various infrastructures for the production of blue ammonia products. North America possesses the infrastructure and capabilities to pursue research and development in blue ammonia, thanks to a strong foundation in technology and innovation. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period. This is due to the region's rapid expansion and development, as well as favorable government policies that encourage the usage of renewable energy sources. The development of ammonia-specific transportation and storage facilities ensures its wider industrial application and safe use. During the forecast period, the Europe market is expected to rise at a significant CAGR.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Blue Ammonia Market include Shell, OCI, Ma’aden, Linde plc, Uniper SE, LSB Industries, CF Industries Holdings, Inc., Yara International ASA, Saudi Arabian Oil Co., ITOCHU Corporation, Técnicas Reunidas S. A., PAO NOVATEK, ADNOC Group, Hydrofuel Canada Inc., QATAR FERTILISER COMPANY, ExxonMobil Corporation, Dastur Energy and among others.
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Recent Developments
- On April 2023, Saudi Aramco successfully conveyed the first consignment of blue ammonia to Japan as part of a collaborative effort involving numerous companies from the low-carbon ammonia value chain. Aramco's feedstock was used by SABIC Agri-Nutrients to manufacture ammonia, which was subsequently sold to Fuji Oil Company by Aramco Trading Company. Mitsui O.S.K. Lines was in charge of transporting the liquid to Japan, where it was transported to the Sodegaura Refinery for co-fired power generation, with technical assistance from Japan Oil Engineering Co.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Blue Ammonia Market based on the below-mentioned segments:
Blue Ammonia Market, Technology Analysis
- Steam Methane Reforming
- Autothermal Reforming
- Gas Partial Oxidation
- Others
Blue Ammonia Market, Application Analysis
- Power Generation
- Industrial Feedstock
- Agriculture
- Pharmaceuticals
- Transportation
- Chemical & Petrochemicals
- Others
Blue Ammonia Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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