The global green ammonia market is anticipated to grow at a significant CAGR of 7.8% during the forecast period (2021-2027). Ammonia has nine times the energy density of Li-ion batteries, and three times that of compressed hydrogen, creating potential as a carbon-free energy carrier. Although, the ammonia as a fertilizer has a well-established market; the market for green ammonia is still on its traction to grow across the globe. The green ammonia offers several benefits as a power generation source and transportation fuel; therefore, key players of the market are investing in the green ammonia projects to exploit the actual potential of the green ammonia market.
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For instance, in March 2021, Haldor Topsoe announced to develop green ammonia for marine fuel in Germany. The project is leded by Aquamarine Investment Partners and manager of private capital. They signed an MoU with the Danish company Haldor Topsoe, which is working on several projects to produce green hydrogen, green ammonia, eMethanol, and green fuels. The plant is expected to developin multiple stages using Topsoe’s proprietary solid oxide electrolyzer cells (SOEC) to produce green hydrogen from 100 megawatts of renewable electricity. The hydrogen will be further processed using Topsoe technology to produce 300 tons/day of green ammonia. The ammonia can then be used as a green marine fuel or as fertilizer. The plant is expected to be operational by 2024.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Technology
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Haldor Topsøe A/S, Yara International ASA, CF Industries Holdings, Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
Ø Deviation from the pre-COVID-19 forecast
Ø Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Green ammonia Market Report Segment
By Technology
- Alkaline Water Electrolysis (AWE)
- Proton Exchange Membrane (PEM)
- Solid Oxide Electrolysis (SOE)
By Application
- Transportation Fuel
- Power Generation and Energy Storage
- Fertilizer
- Other (Textile & Pharmaceuticals, Explosives, Refrigeration & Heat Transfer Application)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
