Green Ammonia Market Exploring the Efficiency and Innovation: ACME Group, BASF SE, Ballard power system

The power generation segment held the largest share of nearly two-fifths of the global green ammonia market in 2021 & is expected to maintain a prominent growth

OREGON, PORTLAND, UNITED STATES, August 9, 2023/EINPresswire.com/ -- The power generation segment held the largest share of nearly two-fifths of the global green ammonia market in 2021 and is expected to maintain a prominent growth during the forecast period. However, the others segment is expected to exhibit the highest CAGR of 81.2% in 2031. The report also studies the transportation and industrial feedstock segments.

Green ammonia refers to ammonia produced using renewable energy sources, such as solar, wind, or hydroelectric power, instead of fossil fuels. The production of ammonia conventionally relies on a process called the Haber-Bosch process, which converts nitrogen and hydrogen gases into ammonia under high pressure and temperature, with hydrogen typically sourced from natural gas. This process is energy-intensive and generates a significant amount of carbon dioxide emissions.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/green-ammonia-market/purchase-options

The market in Asia-Pacific is likely to show the fastest CAGR of 81.1% during the forecast period. However, Europe was the largest market in 2021, accounting for nearly two-fifths of the global green ammonia market and is likely to maintain its dominance during the forecasted timeframe. The other regions studied in the report include North America and LAMEA.

In the context of sustainable and environmentally friendly practices, the concept of green ammonia has gained attention. Green ammonia production involves utilizing renewable energy to generate the hydrogen required for the ammonia synthesis process, effectively reducing or eliminating carbon emissions associated with the production.

The alkaline water electrolysis segment held the largest share in 2021, accounting for more than three-fifths of the global green ammonia market and would dominate the market in terms of revenue through 2031. However, the solid oxide electrolysis segment is estimated to witness the fastest CAGR of 81.3% during the forecast period. The report also offers an analysis of the proton exchange membrane segment.

𝐓𝐡𝐞 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐨𝐟 𝐠𝐫𝐞𝐞𝐧 𝐚𝐦𝐦𝐨𝐧𝐢𝐚 𝐢𝐧𝐯𝐨𝐥𝐯𝐞𝐬 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐬𝐭𝐞𝐩𝐬:

Renewable Energy Generation: Renewable energy sources like solar, wind, and hydropower are used to produce electricity.

Water Electrolysis: The generated electricity is then used to perform water electrolysis, splitting water molecules into hydrogen and oxygen gases. This hydrogen is used as the feedstock for ammonia production.

Ammonia Synthesis: The hydrogen gas is combined with nitrogen gas (often sourced from the air) using the Haber-Bosch process to produce ammonia (NH3).

Rise in public concern and government regulations related to carbon emissions and the protection of environmental health drive the growth of the global green ammonia market. Region-wise, the market in Europe is likely to dominate in terms of revenue and Asia-Pacific is expected to achieve the fastest CAGR during the forecast period. By technology, the alkaline water electrolysis segment would dominate the market in terms of revenue through 2031.

𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐨𝐟 𝐆𝐫𝐞𝐞𝐧 𝐀𝐦𝐦𝐨𝐧𝐢𝐚:

𝐑𝐞𝐝𝐮𝐜𝐞𝐝 𝐂𝐚𝐫𝐛𝐨𝐧 𝐄𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐬: Green ammonia production eliminates or significantly reduces carbon emissions, as it avoids the use of fossil fuels in both the hydrogen production and ammonia synthesis steps.

𝐄𝐧𝐞𝐫𝐠𝐲 𝐒𝐭𝐨𝐫𝐚𝐠𝐞: Ammonia can be used as a carrier of hydrogen, which is difficult to store and transport in its pure form. Ammonia can be more easily stored and transported, making it a potential energy carrier and storage solution.

𝐑𝐞𝐧𝐞𝐰𝐚𝐛𝐥𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧: Green ammonia production provides a way to integrate renewable energy sources into industrial processes, contributing to the decarbonization of various sectors, including agriculture, chemical production, and transportation.

𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐓𝐫𝐚𝐝𝐞: Green ammonia could potentially become a valuable export commodity, allowing regions rich in renewable energy resources to supply ammonia to areas with high ammonia demand.

According to the report published by Allied Market Research, the global green ammonia market generated $0.02 billion in 2021, and is estimated to reach $6.5 billion by 2031, witnessing a CAGR of 80.1% from 2022 to 2031.

However, there are also challenges associated with green ammonia production, including high initial costs, energy efficiency considerations, and the need for advanced technologies to optimize the ammonia synthesis process. As of my last knowledge update in September 2021, research and development efforts were ongoing to address these challenges and advance the feasibility of large-scale green ammonia production.

Leading players of the global green ammonia market analyzed in the research include Siemens AG, NEL ASA, ThyssenKrupp, ITM Power, CF Industries Holdings, Inc., Ballard Power Systems, AMMPower Corp, FuelPositive Corporation, Haldor Topsoe, Uniper, Hyport Duqm, Enapter, Starfire Energy, Engie, BASF SE, Yara International, Hiringa Energy, and Queensland Nitrates Pty. Ltd.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟑𝟒𝟑 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) @ https://bit.ly/3Z8LzeK

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