Green Ammonia: Introduction
Green ammonia is ammonia that is produced with hydrogen obtained through the electrolysis of water, powered by renewable energy sources such as solar, wind, and hydropower. Green ammonia can be used in several industries such as agriculture, energy storage, and marine.
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Key Drivers and Restraints of Green Ammonia Market
- Carbon emission has been increasing significantly across the globe. For instance, GHG emission in Asia Pacific increased from 15,238 MtCO2 in 2016 to 15,856 MtCO2 in 2019. Ammonia is a key contributor of GHG emission, as the production of one ton of ammonia releases on an average 2.867 tons of CO2. Government of various countries have introduced several targets and initiatives to reduce carbon emissions across the world. For instance, the European Union has set a target to reduce carbon emissions by 55% by 2030. Rise in efforts to reduce carbon emissions is estimated to drive the green ammonia market during the forecast period.
- Increase in investments in development of green ammonia plants is anticipated to propel the green ammonia market. For instance, in August 2021, Acme Solar Holdings Ltd announced plans to build a green ammonia facility worth US$ 3.5 Bn in Duqm to supply green ammonia to Europe, and Asia.
- Rise in demand for green ammonia as maritime fuel is boosting the demand for green ammonia during the forecast period. The shipping industry accounted for approximately 2.5% of the global greenhouse emissions in 2019, due to high consumption of sulfur and diesel fuel for ships. The maritime industry is making a several efforts to reduce GHG emissions by utilizing cleaner fuels. For instance, on January 1, 2020, the International Maritime Organization introduced IMO 2020 to improve air quality and protect human health. According to IMO 2020, the sulfur content in fuel oil used on board ships operating outside emission control areas should not be more than 0.50% m/m. This is projected to offer lucrative opportunities to the green ammonia market during the forecast period.
COVID-19 Impact Analysis
- The COVID-19 pandemic has adversely impacted all industries including green ammonia. Governments of various countries have imposed nationwide lockdowns to limit the spread of the disease. This has led to a restriction on the movement of goods and the people. As a result, several companies had to cancel or defer the construction of green ammonia manufacturing facilities due to the shortage in availability of workforce and raw materials. Delay in the construction of manufacturing facilities has adversely impacted the green ammonia market.
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Europe Expected to Constitute Major Share of Global Green Ammonia Market
- In terms of region, the global green ammonia market can be divided into Middle East Africa, Latin America, Asia Pacific, Europe, and North America
- The green ammonia market in Europe is expected to expand at a rapid pace due to the expansion of green hydrogen projects across the region. For instance, in May 2021, Germany announced plans to invest more than US$ 9 Bn in green hydrogen projects.
Key Players Operating in Global Market
Key companies operating in the global green ammonia market include:
- Haidor Topsoe
- thyssenkrupp Industrial Solutions
- ITM Power
- Nel Hydrogen Solutions
Global Green Ammonia Market: Research Scope
Global Green Ammonia Market, by Technology
- Proton Exchange Membrane
- Alkaline Water Electrolysis
- Solid Oxide Electrolysis
Global Green Ammonia Market, by End-user
- Power Generation
- Industrial Feedstock
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Industrial Feedstock End-user Segment Expected to Hold Prominent Share of Global Market
- The global green ammonia market can be segmented based on end-user, technology, and region
- Based on end-user, the global green ammonia market can be segregated into transportation, power generation, and industrial feedstock. The industrial feedstock segment is projected to hold key share of the global green ammonia market during the forecast period. Rise in demand for carbon neutral fertilizers is expected to propel the demand for green ammonia during the forecast period.
- In terms of technology, the global green ammonia market can be divided into proton exchange membrane, alkaline water electrolysis, and solid oxide electrolysis
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