Richmond, Nov. 14, 2023 (GLOBE NEWSWIRE) -- According to a research report "Blue Ammonia Market, By Technology (Steam methane reforming, Autothermal reforming, Gas partial oxidation), By Application (Transportation, Power Generation, Industrial Feedstock) and Region.
Global Blue Ammonia Market Report Scope:
| Report | Details |
| Market size value in 2022 | USD 75 Million |
| Market size value in 2030 | USD 3,269.9 Million |
| CAGR (2023-2030) | 60.3% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Technology, Application, Region and Geography |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Blue Ammonia Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
Blue Ammonia is an environmentally responsible method for producing this chemical compound via steam methane reformation. Initially, hydrogen is derived as a byproduct from captured and stored carbon dioxide. Subsequently, it is combined with nitrogen to yield ammonia. The characteristics of blue ammonia's end product are identical to conventionally manufactured ammonia. However, a key distinction lies in the capture and prevention of CO2 emissions generated during the production process, contributing to a shift towards alternative, less carbon-intensive products. Moreover, blue ammonia holds significance across a variety of industries beyond its environmental benefits, including pharmaceuticals, textiles, cleaning products, and wastewater treatment.
Furthermore, the demand for blue ammonia has surged in recent years, driven by growing government initiatives to establish blue ammonia-based economies and substantial investments in blue ammonia infrastructure. With the increasing adoption of low-emission fuels, the blue ammonia market is poised for significant growth.
Major vendors in the Global Blue Ammonia Market - Yara International, Saudi Arabian Oil Co., OCI, CF Industries Holdings, Inc., QATAR FERTILISER COMPANY (QAFCO), Ma’aden, Shell, ExxonMobil Corporation, LSB Industries, ITOCHU Corporation, Técnicas Reunidas S. A., PAO NOVATEK, ADNOC Group, Linde plc, Equinor ASA, EuroChem Group, Uniper SE, and Others.
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The diverse application potential of blue ammonia acts as a driving force for market expansion.
Major driving factor of the market is the diverse application potential of blue ammonia acts as a driving force for market expansion. While blue ammonia's primary role is in sustainable ammonia production, it also finds applications in various other sectors, including pharmaceuticals, textiles, cleaning products, and wastewater treatment. This versatility increases its attractiveness to different industries, enhancing its market growth prospects. Moreover, blue ammonia's capability to serve as an eco-friendly fuel in power generation and transportation sectors opens up new possibilities for reducing carbon emissions. As industries explore and adapt to the multifaceted benefits of blue ammonia, its market demand continues to grow, making it a key driver in the global market.
Market Dynamics
Drivers:
- Carbon Emission Reduction Imperatives
- Growing demand for blue ammonia to generate power
- Renewable Hydrogen Production
- Diverse Application Potential
Opportunities:
- Increasing efforts toward empowering hydrogen economy
- The rise of carbon credit and offset programs
- Technological Advancements and Innovation
The Expanding Nutraceuticals Industry Create the Significant Opportunities
The expanding hydrogen economy offers a substantial opportunity for the Global Blue Ammonia Market. Hydrogen, a crucial component in ammonia production, is increasingly being produced from renewable sources, and blue ammonia aligns with this trend. As the hydrogen economy grows, blue ammonia can play a pivotal role by providing a means to store, transport, and utilize hydrogen efficiently. This can extend to applications in sectors such as fuel cells, transportation, and industrial processes. The market's alignment with the hydrogen economy positions it to thrive within a broader context of sustainability and green energy solutions. Additionally, as industries, research institutions, and governments invest in research and development, they explore ways to enhance the production process, reduce costs, and improve the overall efficiency of blue ammonia. This presents a dual benefit: the market can achieve cost-effectiveness and increased production capacity while also further reducing carbon emissions. Innovations such as advanced catalysts, optimized manufacturing processes, and improved carbon capture techniques can drive the growth of blue ammonia.
The Market For Blue Ammonia Is Dominated By North America.
In 2022, the North American region dominated the Blue Ammonia Market with the highest market share. The region exhibits a strong presence in the global Blue Ammonia market. The region is actively pursuing sustainable and low-carbon energy solutions to address environmental concerns and reduce carbon emissions. It is characterized by robust research and development activities, with a focus on the integration of renewable energy sources into ammonia production. The United States, in particular, is investing significantly in green hydrogen production, a key component in Blue Ammonia manufacturing. Regulatory support and government initiatives promoting carbon capture and utilization further strengthen the market's prospects in North America. The adoption of Blue Ammonia aligns with the region's commitment to decarbonization goals and provides opportunities for exporting sustainable ammonia to international markets.
Asia Pacific is anticipated to achieve highest Compound Annual Growth Rate (CAGR) from 2022 to 2030. The primary driver of this growth is the increasing consumer expenditure on health and wellness products, influenced by evolving lifestyles and higher disposable incomes. Economies such as China, India, and Japan are expected to play a pivotal role in propelling the industry's expansion. Additionally, the China gummy industry took the lead in the Asia Pacific market.
Countries like Japan, South Korea, and China are making substantial investments in green hydrogen production, and Blue Ammonia aligns with these initiatives. APAC's growing population, industrialization, and commitment to reducing carbon emissions are driving the demand for sustainable ammonia.
Overall, while North America currently dominates the Blue Ammonia market, Asia-Pacific, with countries like China and India, is expected to witness substantial growth and become a key player in the coming years.
The Steam Methane Reforming Segment Is Anticipated To Hold The Largest Market Share During The Forecast Period
Based on technology, market is segmented into Steam methane reforming, Autothermal reforming and Gas partial oxidation. The Steam Methane Reforming segment is expected to account for largest revenue share in the global blue ammonia market over the forecast period. Driving factors such as cost-effective and energy-efficient method of manufacturing pure hydrogen, steam methane reforming leads the market, with the largest market share and the highest growth rate.
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