Blue Ammonia Market Size, Share, Growth Analysis, By Technology(Steam Methane Reforming (SMR) and AutoThermal Reforming (ATR)), By Sale Channel(Direct Company Sale, Direct Import), By End User(Chemical industry, agriculture) - Industry Forecast 2024-2031

Global Blue Ammonia Market size was valued at USD 12.62 million in 2019 and is poised to grow from USD 13.28 million in 2023 to USD 19.92 million by 2031, growing at a CAGR of 5.2% in 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.