Global Blue Ammonia Market

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, Distributors & Traders), By End User(Chemical industry, agriculture, Industrial Power Heating, Transportation), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15B2035 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 90 | Figures: 76

Blue Ammonia Market Insights

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.

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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).

The market for blue ammonia is becoming highly competitive as the demand for low- or zero-carbon alternatives grows along a range of industries. 'Mitsubishi Heavy Industries, Ltd.', 'Siemens Energy AG', 'Ammonia Casale S.A.', 'Haldor Topsoe A/S', 'thyssenkrupp AG', 'CF Industries Holdings, Inc.', 'TechnipFMC plc', 'Air Liquide S.A.', 'Yara International ASA', 'Linde plc', 'Engie S.A.', 'BASF SE', 'OCI N.V.', 'Nutrien Ltd.', 'Trammo, Inc.', 'Sumitomo Mitsui Construction Co., Ltd.', 'Marubeni Corporation', 'Técnicas Reunidas, S.A.', 'Kawasaki Heavy Industries, Ltd.', 'Toyo Engineering Corporation'

The transport industry consumes a lot of energy and fuel and contributes significantly to the world’s largest carbon emissions. Blue ammonia use as a low-carbon alternative to traditional fuels can aid in reducing carbon emissions in this sector.

Infrastructure Investments: To meet the growing demands for blue ammonia, additional investment has been put into to the infrastructure required to produce, transport, and store the material. This involves building the new production plants, pipelines, and storage tanks.

North America dominated the 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.

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Global Blue Ammonia Market

Report ID: SQMIG15B2035

$5,300
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