Green Ammonia Market Size

Report on Industry Size & Market Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Green Ammonia Market is Segmented by Application (Fertilizers, Maritime/Shipping Fuel, Power Generation, and Other Applications), and Geography (Asia-Pacific, North America, Europe, and Rest of the World). The Report Offers Market Size and Forecasts in Volume (tons) for all the Above Segments.

Green Ammonia Market Size

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Green Ammonia Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) > 70.00 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Green Ammonia Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Green Ammonia Market Analysis

The Green Ammonia Market is expected to register a CAGR of greater than 70% during the forecast period.

The COVID-19 pandemic moderately impacted the overall industry growth. However, the surging demand for power generation propelled the consumption of green ammonia post-pandemic.

  • Increased agriculture production and the rising demand for renewable energy are the major factors expected to drive the global green ammonia market growth.
  • High capital investment is one of the key factors restraining overall industry growth.
  • The emerging application of green ammonia as a marine fuel will likely offer new growth opportunities to the market in the coming years.
  • North America dominated the green ammonia market owing to the rising application in power generation in the United States.

Green Ammonia Market Trends

Growing Agricultural Production

  • Ammonia is important in agriculture as it binds airborne nitrogen and makes nitrogen the most important crop nutrient available for nitrogen fertilizer production.
  • The demand for green ammonia is increasing with the growing population and rising need for green fertilizers. Green ammonia is intended to produce carbon-neutral fertilizer products, decarbonizing the food value chain.
  • Green ammonia is essential for sustainable food production. Several manufacturers are focusing on producing carbon-free fertilizers. For instance, Yara International is working towards making carbon-free fertilizer, and clean hydrogen is the major enabler for making CO2-free or green ammonia, which is the key ingredient for green fertilizer.
  • The growing population is estimated to increase food production by as much as 68 percent by 2050.
  • The European fertilizer industry made tremendous improvements in the energy efficiency of ammonia production. The value of agricultural output rose sharply in nominal terms (+8.3 %) in 2021. More than 55.3% of the value of the total output of the EU's agricultural industry came from crops that were EUR 248.7 billion (USD 290 billion) in 2021, within which cereals and vegetables, and horticultural plants were the most valuable crops.
  • China is the world's largest consumer of feed grains and supports this robust level through domestic and imported supplies. China's agricultural sector maintained a development momentum in the first three quarters of 2022, with the value-added output of the primary industry increasing by 4.2% year-on-year to Yuan 5.48 trillion (USD 755 billion). In 2021, China's agricultural production value amounted to around Yuan 7.83 trillion (USD 1.2 trillion).
  • Therefore, the factors above are projected to boost the consumption of green ammonia in the agriculture sector.
Green Ammonia Market - Value Added of the Agriculture Sector, in USD billion, in the United States, 2017-2022

North America Expected to Dominate the Market

  • North America is the largest consumer of green ammonia, driven mainly by agriculture, power generation, and transportation.
  • The rising population in the United States increased the need for food, which, in turn, propelled the agriculture sector. It further upsurged the consumption of green ammonia within the region.
  • The agriculture sector is one of the major sectors in the United States. The increasing global demand for corn, cereals, and other corn products is fueling the growth of the agriculture industry in the United States. In 2021, the total number of farms stood at over 2 million.
  • On average, farm sizes are around 445 acres, and there are about 895 million acres of farmland across the country. In 2021, the net value added to the agricultural sector amounted to approximately USD 190 billion.
  • Canada led other selected nations in terms of average total farm area, with farms in Canada reporting 809.4 acres per farm in 2021. Canada exported nearly USD 82.2 billion in agriculture and food products (including raw agricultural materials, fish and seafood, and processed foods) in 2021.
  • Furthermore, the supply of green ammonia to energy companies will drive the regional market. For instance, in 2022, German energy firms Uniper and E.ON plan to work on deals with Canada's EverWind to buy 1 million tonnes of green ammonia a year from the middle of the decade.
  • Therefore, the factors above are projected to boost the consumption of green ammonia in the agriculture and power generation industries.
Green Ammonia Market - Growth Rate by Region, 2023-2028

Green Ammonia Industry Overview

The global green ammonia market is partially consolidated, with a few major players dominating a significant portion. Some major companies are Siemens, ThyssenKrupp AG, Yara International, Nel Hydrogen, and MAN Energy Solutions, among others (not in any particular order).

Green Ammonia Market Leaders

  1. ThyssenKrupp AG

  2. Yara International

  3. Nel Hydrogen

  4. MAN Energy Solutions

  5. Siemens

*Disclaimer: Major Players sorted in no particular order

Green Ammonia Market Concentration
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Green Ammonia Market News

  • May 2022: LSB Industries, Inc. announced that it entered into agreements with thyssenkrupp Uhde USA, LLC and Bloom Energy to develop a project to produce approximately 30,000 metric tons of zero-carbon or green ammonia per year at LSB's Pryor, Oklahoma facility.
  • April 2022: Yara International and Azane Fuel Solutions have signed a commercial agreement to establish a carbon-free ammonia fuel bunker network in Scandinavia. The ammonia bunker terminals will be designed and constructed by Azane Fuel Solutions and delivered to Yara. Yara International will use its position to deliver green ammonia to the shipping industry.

Green Ammonia Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

      1. 4.1.1 Increasing Agricultural Production

      2. 4.1.2 Rising Demand for Renewable Energy

    2. 4.2 Market Restraints

      1. 4.2.1 High Capital Investment

      2. 4.2.2 Other Market Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Application

      1. 5.1.1 Fertilizers

      2. 5.1.2 Maritime/Shipping Fuel

      3. 5.1.3 Power Generation

      4. 5.1.4 Other Applications (Hydrogen Carrier, etc.)

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Rest of North America (Canada and Mexico)

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 France

        4. 5.2.3.4 Italy

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 Rest of the World

        1. 5.2.4.1 South America

        2. 5.2.4.2 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Casale SA

      2. 6.4.2 EXYTRON GmbH

      3. 6.4.3 Green Hydrogen Systems

      4. 6.4.4 ITM Power

      5. 6.4.5 MAN Energy Solutions

      6. 6.4.6 McPhy Energy

      7. 6.4.7 Nanjing Kopsom Engineering Ltd.

      8. 6.4.8 NEL Hydrogen

      9. 6.4.9 Siemens

      10. 6.4.10 ThyssenKrupp AG

      11. 6.4.11 Technip Energies NV

      12. 6.4.12 Yara International

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Emerging Application of Green Ammonia as a Marine Fuel

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Green Ammonia Industry Segmentation

Green ammonia is made with hydrogen from water electrolysis powered by alternative energy. Moreover, it offers high efficiency and yield, requires low maintenance, and is eco-friendly as it does not emit CO2. The market is segmented into application and geography. By application, the market is segmented into fertilizers, maritime/shipping fuel, power generation, and other applications. The report also covers the market size and forecasts for the green ammonia market in 9 countries across major regions. The market sizing and forecasts for each segment have been done on the basis of volume (Tons).

Application
Fertilizers
Maritime/Shipping Fuel
Power Generation
Other Applications (Hydrogen Carrier, etc.)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Rest of North America (Canada and Mexico)
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Rest of the World
South America
Middle-East and Africa
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Green Ammonia Market Research FAQs

The Green Ammonia Market is projected to register a CAGR of greater than 70% during the forecast period (2024-2029)

ThyssenKrupp AG, Yara International, Nel Hydrogen, MAN Energy Solutions and Siemens are the major companies operating in the Green Ammonia Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Green Ammonia Market.

The report covers the Green Ammonia Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Green Ammonia Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The Alkaline water electrolysis segment is estimated to be the fastest-growing segment of the Green Ammonia Market.

Green Ammonia Industry Report

The global green ammonia market, which offers a carbon-free alternative to traditional ammonia, is anticipated to experience significant growth due to the escalating demand for eco-friendly fertilizers and an increased focus on renewable energy projects. Produced from renewable energy sources such as solar, wind, and hydropower, green ammonia is utilized in a variety of applications including transportation, power generation, and as an industrial feedstock. The market's expansion is propelled by the growing need for sustainable fertilizers, a response to the rapid increase in global agricultural production and the degradation of soil conditions from extensive use of chemical fertilizers. Despite the high initial cost of establishing green ammonia plants posing a challenge, opportunities are present in the rising demand for biofuels and the intensifying focus on constructing a hydrogen-based economy. The alkaline water electrolysis technology segment is projected to hold the largest market share, with the power generation application segment expected to grow the fastest. Europe is predicted to be the dominant market during the forecast period. Mordor Intelligence™ Industry Reports provide statistics for the Green Ammonia market share, size, and revenue growth rate, along with an analysis that includes a market forecast outlook and historical overview. A sample of this industry analysis is available as a PDF download.

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Green Ammonia Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)