Overview and Scope
Blue ammonia refers to ammonia produced by converting natural gas into hydrogen and carbon dioxide, with the CO2 being captured, stored, or utilized to reduce emissions. It serves as a cleaner energy source for power generation and industrial processes and as a potential medium for hydrogen transport and storage, supporting the transition to low-carbon energy systems.
Sizing and Forecast
The blue ammonia market size has grown strongly in recent years. It will grow from $13 billion in 2023 to $13.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increased use of low-emission fuel, the increase in funding and incentives, scope of sustainable energy future, increasing moves towards a hydrogen economy, its potential to cut greenhouse gas emissions.
The blue ammonia market size is expected to see strong growth in the next few years. It will grow to $17.6 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing worldwide emphasis on hydrogen as a clean fuel option, growing demand for blue ammonia to generate power, growing concerns about climate change, growing initiatives aimed at bolstering the hydrogen-based economy, the imperative to reduce greenhouse gas emissions. Major trends in the forecast period include increased technology of steam methane reforming (SMR), increased usage of advanced technologies, establishing technological innovations, increased availability of carbon capture technology, rapid technological advancements.
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Segmentation & Regional Insights
The blue ammonia market covered in this report is segmented –
1) By Technology: Steam Methane Reforming, Autothermal Reforming, Gas Partial Oxidation, Other Technologies
2) By Distribution Channel: Distribution/Wholesalers, E-Commerce, Direct Sale
3) By Application: Power Generation, Industrial Feedstock, Agriculture, Pharmaceuticals, Transportation, Chemical And Petrochemicals, Other Applications
North America was the largest region in the blue ammonia market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blue ammonia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for low-carbon fuels is expected to propel the growth of the blue ammonia market going forward. Low-carbon fuels are energy sources that produce a minimal amount of carbon dioxide emissions compared to traditional fossil fuels, thus contributing less to global warming and climate change. They are in demand due to the increasing need to reduce greenhouse gas emissions and mitigate climate change impacts. Blue ammonia is produced by converting natural gas into hydrogen and capturing the emitted carbon dioxide, thus useful as a low-carbon fuel. For instance, in December 2021, according to the International Energy Agency, a France-based intergovernmental agency, the demand for low-carbon fuels (biofuels) is expected to increase by 28% by 2026, to reach 186 billion liters compared to 157 billion in 2021. Therefore, the increasing demand for low-carbon fuels is driving the growth of the blue ammonia market.
Key Industry Players
Major companies operating in the blue ammonia market are Saudi Arabian Oil Group, ExxonMobil Corporation, Shell PLC, Uniper SE, Koch Industries Inc., ITOCHU Corporation, BASF SE, Siemens Energy AG, Saudi Basic Industries Corporation, Thyssenkrupp AG, Nutrien Ltd., Linde PLC, Mitsubishi Heavy Industries Ltd., Air Liquide S.A., Yara International ASA, Ma’aden, CF Industries Holdings Inc., TechnipFMC PLC, EuroChem Group AG, Sumitomo Mitsui Construction Co. Ltd., Haldor Topsoe A/S, Engie S.A., Qatar Fertiliser Company (P.S.C.), ADNOC Group, Casale S.A.
The blue ammonia market report table of contents includes:
- Executive Summary
- Blue Ammonia Market Characteristics
- Blue Ammonia Market Trends And Strategies
- Blue Ammonia Market – Macro Economic Scenario
- Global Blue Ammonia Market Size and Growth
- Blue Ammonia Market Segmentation
- Blue Ammonia Market Regional And Country Analysis
…………..
- Key Mergers And Acquisitions In The Blue Ammonia Market
- Blue Ammonia Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Blue Ammonia Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Blue Ammonia Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Blue Ammonia Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………
Table 74: Saudi Arabian Oil Group Financial Performance
Table 75: ExxonMobil Corporation Financial Performance
Table 76: Shell PLC Financial Performance
Table 77: Uniper SE Financial Performance
Table 78: Koch Industries Inc. Financial Performance
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