Global Ammonia Crackers Market to 2032 Surges with 25.7% CAGR, Signaling a Cleaner Energy Landscape Ahead - ResearchAndMarkets.com

×

Error message

  • Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).

The global ammonia crackers market is poised for significant growth, with an estimated valuation of $1,574.44 million in 2032, up from $201.6 million in 2023, exhibiting a robust Compound Annual Growth Rate (CAGR) of 25.7%.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Thursday, September 28, 2023
Information
Tags: 
Chemicals, Plastics, Manufacturing, Proton, Hydrogen, Lotte Chemical, Compound annual growth rate, Climate change, Syzygy, Orangi Pilot Project, Growth, Region, Ecosystem, Petrochemical, Coal, Lithium, Ammonia
Geotags: 
NORTH AMERICA, CHINA, EUROPE, JAPAN, AMERICAS
⚠ generated by AI ↴
Organisation: 
RESEARCH AND MARKETS, RESEARCHANDMARKETS.COM
Summary
Key Points: 
  • The global ammonia crackers market is poised for significant growth, with an estimated valuation of $1,574.44 million in 2032, up from $201.6 million in 2023, exhibiting a robust Compound Annual Growth Rate (CAGR) of 25.7%.
  • Ammonia crackers, which are crucial for hydrogen production, hold the potential to revolutionize the energy sector, reducing reliance on fossil fuels and mitigating climate change impacts.
  • Ammonia, a hydrogen carrier, is a vital component in the transition towards a greener, more sustainable energy landscape.
  • End User: The ammonia crackers market serves various industries, including heat treatment, the metal industry, oil and gas, power generation, mobility, and others.


The "Ammonia Crackers Market - A Global and Regional Analysis: Focus on Cracker Type, Capacity, End User, and Region - Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.

The global ammonia crackers market is poised for significant growth, with an estimated valuation of $1,574.44 million in 2032, up from $201.6 million in 2023, exhibiting a robust Compound Annual Growth Rate (CAGR) of 25.7%.

Ammonia crackers, which are crucial for hydrogen production, hold the potential to revolutionize the energy sector, reducing reliance on fossil fuels and mitigating climate change impacts.

Market Overview

Ammonia, a hydrogen carrier, is a vital component in the transition towards a greener, more sustainable energy landscape. It enables the cost-effective storage and distribution of substantial quantities of energy, making it a key player in the quest for a carbon-neutral energy sector.

Market Lifecycle Stage

The ammonia crackers market is in a dynamic state of development. Small-scale ammonia crackers have reached maturity, while large-scale counterparts are still in the developing stage. Key players in the ecosystem include ammonia cracker manufacturers, green hydrogen and green ammonia producers, technology providers, and end users. Asia-Pacific, Europe, North America, China, the U.K., and Rest-of-the-World are the prominent regions driving market growth.

Market Segmentation

  1. End User: The ammonia crackers market serves various industries, including heat treatment, the metal industry, oil and gas, power generation, mobility, and others. Increased initiatives related to decarbonization are expected to drive high adoption rates in mobility and power generation.
  2. Cracker Type: The market is segmented into centralized and decentralized ammonia crackers. Decentralized ammonia crackers are anticipated to lead the market during the forecast period.
  3. Capacity: Capacity segments include small-scale (<250 Nm3/hr), medium scale (250-1,000 Nm3/hr), and large-scale (>1,000 Nm3/hr). Small-scale ammonia crackers led the market in 2022, primarily due to demand from end-use industries such as the metal industry, heat treatment, and mobility.
  4. Region: Key regions for ammonia crackers production include Asia-Pacific and Japan, Europe, China, the U.K., North America, and Rest-of-the-World. Asia-Pacific and Europe are expected to be prominent regions for ammonia crackers production due to increased import of green ammonia as a hydrogen carrier.

Recent Developments

  • In June 2023, Proton Ventures conducted diverse studies related to ammonia cracking and initiated efforts to develop commercial pilot projects for ammonia cracking, which would significantly contribute to global hydrogen production facilities.
  • In September 2022, Syzygy Plasmonics, LOTTE Chemical, LOTTE Fine Chemical, and Sumitomo Corporation of Americas partnered to test Syzygy's fully electric, photocatalytic ammonia cracking reactor on a commercial scale in South Korea.

Demand Drivers and Limitations

Drivers:

  • Increasing Awareness Regarding Green Hydrogen
  • Increased Adoption of Ammonia Crackers in End-User Industries
  • Need for Effective Hydrogen Carrier

Limitations:

  • Toxicity of Liquid Ammonia and Trace Amounts of Ammonia in Hydrogen after Decomposition
  • High Cost of Green Hydrogen Production and Significant Energy Requirements in Cracking

Key Market Players and Competition Synopsis

Several companies play a crucial role in the ammonia crackers market, divided into three categories based on capacity: small scale (<250 Nm3/hr), medium scale (250-1,000 Nm3/hr), and large scale (>1,000 Nm3/hr). Key players in each category include:

Small Scale:

  • Lindberg/MPH
  • Borel Swiss
  • Gasbarre Products, Inc.
  • Suzhou Since Gas Technology Co., Ltd.
  • Nuberg GPD
  • MVS Engineering Pvt. Ltd.

Medium Scale:

  • Siemens Energy
  • Air Liquide
  • KBR Inc.
  • AMMPOWER
  • Duiker Combustion Engineers
  • Suzhou Since Gas Technology Co., Ltd.
  • AMOGY Inc.
  • MVS Engineering Pvt. Ltd.

Large Scale:

  • Haldor Topsoe A/S
  • Siemens Energy
  • Air Liquide
  • thyssenkrupp AG
  • KBR Inc.
  • Duiker Combustion Engineers

These companies are actively contributing to the advancement of ammonia cracking technology and its applications across various industries. Collaboration and innovation are key drivers in the competitive landscape of the ammonia crackers market.

Key Questions Answered in the Report

  • What are the steps taken by the existing players to improve/maintain their market positioning, and what are some of the key strategies adopted by new players entering this market space?
  • Which are the major companies in the ammonia crackers ecosystem? What are their market shares?
  • How does the supply chain function in the global ammonia crackers market?
  • How much is the green hydrogen and green ammonia market and how is it expected to grow over forecast period?
  • How is the cost of ammonia crackers determined? What are the factors impacting the cost of ammonia crackers?
  • What is the cost comparison for centralized vs. decentralized ammonia crackers?
  • What is impact of ongoing research for scaling up of ammonia cracking technologies?
  • How does supply chain of centralized and decentralized ammonia crackers vary?
  • What are the major patents filed by the companies active in the ammonia crackers market?
  • How much is the growth potential of large scale ammonia crackers in the next decade?

Key Attributes:

Report Attribute Details
No. of Pages 188
Forecast Period 2023 - 2032
Estimated Market Value (USD) in 2023 $201.6 Million
Forecasted Market Value (USD) by 2032 $1574.44 Million
Compound Annual Growth Rate 25.7%
Regions Covered Global

For more information about this report visit https://www.researchandmarkets.com/r/vr3wbv

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Copyright: 
Copyright Business Wire 2023