New Report Forecasts 88% CAGR for Global Green Ammonia Market Through 2028
BOSTON, Sept. 8, 2023 /PRNewswire/ -- As a carbon-free carrier for fuel cells, ammonia is a green energy linchpin. But manufacturing gray ammonia itself runs counter to many green-energy goals. Gray ammonia's Haber-Bosch production process generates 2% of the world's CO2e emissions every year. Green ammonia's much smaller carbon footprint will propel what was a $24.3 million market in 2022 to a $719.4 million global market in 2028.
BCC Research analysts predict that green ammonia prices may plummet as low as $250/ton as manufacturers develop and deploy new technologies.
BOSTON, Sept. 8, 2023 /PRNewswire/ -- As a carbon-free carrier for fuel cells, ammonia is a green energy linchpin. But manufacturing gray ammonia itself runs counter to many green-energy goals. Gray ammonia's Haber-Bosch production process generates 2% of the world's CO2e emissions every year. Green ammonia's much smaller carbon footprint will propel what was a $24.3 million market in 2022 to a $719.4 million global market in 2028.
In their recently published Global Green Ammonia Market, BCC analysts explore:
- Growing demand for eco-friendly fertilizers and biofuels. These and other factors will double the demand for green ammonia by 2050, sources at Thyssenkrupp AG predict.
- Blue ammonia as a transitional step between the gray ammonia present and the green ammonia future.
- Technologies driving green ammonia industry growth, such as hybrid PV-wind power plants, anion-exchange membranes (AEM), offshore wind, and alkaline water electrolysis.
- Green ammonia technology startups to watch, such as HOELLER.
- Mining's shift to green ammonia–how major players like Enaex and Fortescue Metals Group are driving the transformation.
- Companies investing heavily in green ammonia, including ITM Power, YARA International, and Siemens Energy.
Global Green Ammonia Market is a must-read for professionals working in fertilizer manufacturing, chemical production, agriculture, mining, biofuels, green energy, shipping and transport, ammonia trading, and environmental regulation.
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