Global Blue Ammonia Market Size and Share Projected to Reach Around USD 22.91 Billion By 2032, at 5.8% CAGR Growth: Polaris Market Research

NEW YORK, Nov. 30, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Blue Ammonia Market Share, Size, Trends, Industry Analysis Report, By Technology (AutoThermal Reforming (ATR), Haber-Bosch Process); By Manufacturing Process; By Distribution Channel; By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

According to research report, the global blue ammonia market size and share is predicted to grow from USD 13.12 billion in 2022 to USD 22.91 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 5.8% from 2023 to 2032, according to the latest report by Polaris Market Research.

What is Blue Ammonia? How Big is Blue Ammonia Market Size & Share?

• Overview

Blue ammonia is a low-carbon procedure of making the chemical compound utilizing steam methane overhauling. Hydrogen is foremost procured as a by-product of carbon dioxide, which has been seized and set aside. It is then mixed with nitrogen to make ammonia. The rapidly rising demand for blue ammonia market can be attributed to the fact that with an increase of regard in hydrogen as a fuel, ammonia has become an effortlessly transportable method to reserve it. Hydrogen, a clean combustion fuel with zero carbon discharge, can be acquired by transfiguring ammonia into the gas to utilize in applications such as fuel cells for cars.

The blue ammonia market growth can be attributed to the growing demand for low-carbon fuels covering several industries, which is pushing the need for market revenues. Escalating worries about climate change and the compelling to lessen greenhouse gas emissions have created a sizeable global requirement for low carbon fuels realizes applications in manifold sectors such as fertilizer production, electricity creation and transportation. Lately, the sustained development in gas production and LNG convergence has sanctioned gas producers and industries to augment the production of blue ammonia. Consequently, the growth in ammonia production and its diminishing carbon forcefulness are in tandem with worldwide objects of transforming away from carbon-based fuel.

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Who is the Manufacturers and Players of Blue Ammonia?

• Air Liquide S.A.
• Ammonia Casale S.A.
• CF Industries Holdings, Inc.
• Haldor Topsoe A/S
• Linde ple
• Mitsubishi Heavy Industries, Ltd
• Siemens Energy AG
• TechnipFMC ple
• thyssenkrupp AG
• Yara International ASA

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Important Highlights from the Report

• The market growth can be attributed to an increase in regard for hydrogen as a fuel. Ammonia has become an effortlessly transportable method to preserve it
• Escalating worries about climate change and the compel to lessen greenhouse gas emissions have created a sizeable global requirement for low-carbon fuels, thus propelling the market
• The blue ammonia market segmentation is primarily based on technology, manufacturing process, distribution channel, application, end-use, and region.
• North America has dominated the market with the largest share in 2022.

Blue Ammonia Market Details

Market's Prime Determinants of Growth, Trends, and Opportunities

Growth Drivers

Reduction of greenhouse gas emissions: The usage of hydrogen gas as the foremost energy starting point in power creation, transportation, and industrial procedures represents an important role in the move toward the hydrogen-based economy. The blue ammonia market size is expanding as the assertion pushes this transformation to lessen greenhouse gas emissions, lessen reliance on fossil fuels, and fight climate change provocations. Blue ammonia surfaces as an interesting fuel alternative in the expedition towards a hydrogen economy because of its low carbon emissions and flexible administration. Blue ammonia is acquiring a foothold as an encouraging clean energy bearer and fuel source. It is created by apprehending carbon dioxide emissions from industrial ventures and using them in an amalgamation of ammonia, providing a more viable alternative to conventional ammonia production procedures.

Potential to carry hydrogen: The contemporarily advanced perspective to ammonia manufacturing is proliferating because of its probability of slashing greenhouse gas emissions and representing a crucial role in the move to a more viable energy future. The blue ammonia market sales are soaring as one of the prominent benefits of blue ammonia is its potential to convey hydrogen. Provided the growing emphasis on hydrogen as an immaculate energy alternative systematic delivery and storage are important. It also has a prospective as a direct fuel for power generation and as a chemical feedstock in many industries.

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Trends and Opportunities

Growing usage in turbine engines: The market's revenue growth is being pushed by the probability of blue ammonia as a fuel for both transportation and power generation. Blue ammonia is growingly detecting administration in turbine engines either via direct kindling or as an unintended starting point for industrial procedures by transforming it back into nitrogen and hydrogen. Primarily, ammonia brags many benefits over liquid hydrogen rendering it as a more pragmatic alternative. Dissimilar to liquid hydrogen, ammonia does not require cooling to immensely low temperatures and provide an escalated energy density.

Segmental Analysis

• Steam Methane Reforming Segment Witnessed a High Surge in Terms of Revenue Share

Based on the manufacturing process, the steam methane reforming segment witnessed a high surge in terms of revenue share. The blue ammonia market demand is on the rise as the steam reforming is positioned as the foremost industrial procedure for creating Synthesis Gas utilized in the making of hydrogen, green ammonia, and methanol. Nevertheless, the steam reforming procedure is linked with noteworthy carbon dioxide emissions in spite of its many advantages.

• Auto Thermal Reforming Dominated the Market

Based on technology, auto thermal reforming dominated the market. The blue ammonia market trends include ATR gaining foothold as a pleasing option for impending blue hydrogen projects especially when flawlessly non segregated with carbon capture technology because of its several benefits. Prominent players in the chemical and energy industries, such as Air Liquide, Equinor, Air Products, and others, are diligently acquiring ATR for extensive blue hydrogen facilities.

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Regional Insights

Which Country has the Largest Blue Ammonia?

North America: This region held the largest blue ammonia market share due to the energetic endeavours of prominent market players within this region who are diligently occupied in the advancement of several frameworks for blue ammonia production. For instance, on February 6, 2023, Linde effectively embarked on an enduring arrangement to offer environmentally friendly hydrogen and several industrial gases to OCI's sweeping blue ammonia plant in Beaumont, Texas. Linde will administer handling the construction, possession, and functioning of an on-the-spot complex, which will circumscribe a sizeable air disconnection plant and embrace auto thermal reforming with carbon capture. The contemporary resource will be immaculately combined into Linde's considerable industrial gas framework within the Gulf Coast region.

Asia Pacific: The market in this region is engaged to encounter the speediest revenue growth rate. Japan especially has surfaced as a leader in electronic technology, extensively credited to its sizeable endeavors in progressing connector technologies. Instead of other countries, Japan has always obtained outstanding advancement in ammonia acquisition technology through substantial, durable advancement resourcefulness creating several benefits. As an example, on May 31, 2021, North American midstream company Pembina endorsed an alliance with one of the Japan's biggest trading organizations to initiate a full-length blue ammonia supply chain, securing Western Canada's ammonia production to Japan and other Asian markets.

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Key Questions Answered in the Report

• What is the current and expected blue ammonia market value?
• At what CAGR is the market expected to grow during the forecast period?
• Which factors are driving the market growth?
• What are the key market trends and opportunities?
• Which segment accounts for the largest blue ammonia market share?
• Who are the prominent players in the industry?

Polaris Market Research has segmented the Blue Ammonia market report based on technology, manufacturing process, distribution channel, application, end-use, and region:

Blue Ammonia, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

• AutoThermal Reforming (ATR)
• Haber-Bosch Process

Blue Ammonia, Manufacturing Process Outlook (Revenue - USD Billion, 2019 - 2032)

• Thermochemical Process
• Steam Methane Reforming (SMR)
• Electrochemical Process

Blue Ammonia, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Distribution/Wholesalers
• E-commerce
• Direct Sale

Blue Ammonia, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Fuel
  • Polymers
  • Fertilizers
  • Power Generation
  • Pharmaceuticals
• Energy Storage
  • Renewable Energy Integration
  • Grid-scale Energy Storage

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research