USD 13.30 million
Report ID:
SQMIG15B2035 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
90
|Figures:
76
Global Blue Ammonia Market size was valued at USD 13.30 million in 2022 and is poised to grow from USD 14.00 million in 2023 to USD 21.17 million by 2031, growing at a CAGR of 5.3% during the forecast period (2024-2031).
Ammonia has become a useful fuel to store & transport as a result of growing demand in fuel made from hydrogen. Ammonia can be reconverted into gas to be used in fuel cells for cars as well as other dean-burning equipment. The use of blue ammonia as a fuel or power source can lower carbon emissions in the energy and transportation sectors. There is a growing demand for low-carbon or carbon-free alternatives like blue ammonia as a result of the global push to reduce carbon emissions and reach net-zero emissions by 2031.
The demand for blue ammonia is also being fueled by the growth of the electricity and transportation industries, which are significant consumers of fuel and energy. A significant factor is the availability of carbon capture technology, which makes it possible to generate blue ammonia with less carbon emissions than with traditional ammonia manufacturing techniques.
Governments as well as companies across the world are making significant investments in low or zero-carbon alternatives, such blue ammonia, to reduce their carbon footprint. The transportation and electricity sectors are expected to dominate the industry as the largest consumers of energy and fuel. Furthermore, it is anticipated that the growth of the mining, agriculture, and chemical industries will provide a wealth of new opportunities for the blue ammonia market.
It is expected that greater market growth will result from investments made in R&D to improve the efficiency and cost-effectiveness of blue ammonia production. Significant market opportunities are also expected to come from the development of a robust infrastructure to support blue ammonia production, storage, and transportation.
US Blue Ammonia Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 13.30 million
Largest Segment
Steam Methane Reforming (SMR)
Fastest Growth
Steam Methane Reforming (SMR)
Growth Rate
5.3% CAGR
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Global Blue Ammonia Market is segmented by production method, application, end use industry and region. Based on production, the market is segmented into steam methane reforming (SMR) (with carbon capture, without carbon capture), autothermal reforming (ATR) (with carbon capture, without carbon capture) and partial oxidation (POX) (with carbon capture, without carbon capture). Based on application, the market is segmented into fertilizers (nitrogen fertilizers, compound fertilizers), industrial chemicals (hydrogen production, nitric acid production), power generation (fuel for power plants, hydrogen fuel cells), transportation (marine fuel, heavy-duty vehicles) and others (refrigeration, explosives). Based on end use industry, the market is segmented into agriculture (crop production, soil fertility management), chemical industry (chemical synthesis, industrial processes), energy sector (renewable energy integration, energy storage), transportation (shipping, heavy transport) and others (pharmaceuticals, textiles). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Blue Ammonia Market Analysis by Technology
The Auto Thermal Reforming (ATR) segment dominated the global market. This process involves the direct reaction of methane and oxygen (O2) over a catalyst at high temperature (800-1000°C) and pressure (20-40 bar). The reaction produces syngas which is then reacted with nitrogen to produce ammonia. ATR is a more energy-intensive process than SMR, but it is more efficient in terms of energy utilization. Additionally, ATR produces a higher yield of ammonia than SMR, making it a more efficient process overall process provides for more comprehensive carbon capture.
The Steam Methane Reforming (SMR) segment is expected to grow at the fastest CAGR. It involves the direct reaction of methane (CH4) and steam (H2O) over a catalyst at high temperature (700-1100°C) and pressure (20-40 bar). This reaction produces synthesis gas (syngas) which is then reacted with nitrogen (N2) to produce ammonia (NH3). SMR is a highly efficient process, utilizing both the heat and chemical energy of the reactants. The process is also relatively inexpensive, making it the most cost-effective method of producing blue ammonia
Blue Ammonia Market Analysis by End User
Ammonia is used extensively in the chemical industry, and blue ammonia can be used as a feedstock for making a variety of compounds. The market is predicted to benefit significantly from the development of the chemicals industry.
Ammonia is also used by farmers as a fertilizer. In the agriculture sector, blue ammonia can be used as a low-carbon alternative for normal ammonia. It is anticipated that a sizable portion of blue ammonia will be used by the agriculture industry.
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North America dominated the global market owing to growing emphasis on decreasing carbon emissions and reaching net-zero emissions by the year 2050. The usage of blue ammonia as a low-carbon substitute to liquid fuels and energy sources can help accomplish this objective. The US is the largest producer and consumer of blue ammonia in the region.
The Asia Pacific region is expected to witness the highest growth in the market, owing to the increasing demand for blue ammonia as a source of energy and fertilizer. Countries such as India, China, Japan, and South Korea are the key markets in the region, and are expected to register a high growth rate in the market.. The growing demand from the industrial, agricultural, and energy sectors in the region is expected to fuel the growth of the market in the region.
Europe is expected to be the second-largest contributor to the global blue ammonia market, owing to the increasing demand for blue ammonia as a source of energy and fertilizer. The countries in the region, such as Germany, the UK, and France, are expected to register a high growth rate in the market.
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Blue Ammonia Market Drivers
Growing usage in transport industry
Growing use as fuel in power generation
Blue Ammonia Market Restraints
High production cost
Lack of regulatory frameworks
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The market for blue ammonia is becoming highly competitive as the demand for low- or zero-carbon alternatives grows along a range of industries.
Blue Ammonia Market Top Player’s Company Profiles
Blue Ammonia Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global blue ammonia market analysis, governments as well as companies across the world are making significant investments in low- or zero-carbon alternatives, such blue ammonia, to reduce their carbon footprint. The transportation and electricity sectors are expected to dominate the industry as the largest consumers of energy and fuel. Furthermore, it is anticipated that the growth of the mining, agriculture, and chemical industries will provide a wealth of new opportunities for the blue ammonia market. The production of blue ammonia has greatly benefited from technological developments, which have increased its efficiency and decreased its cost.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 13.30 million |
Market size value in 2031 | USD 21.17 million |
Growth Rate | 5.3% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Blue Ammonia Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Blue Ammonia Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Blue Ammonia Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Blue Ammonia Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG15B2035
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