North America Green Ammonia Market to Grow with a CAGR of 37.47 % through 2028
Growing demand from power
generation and transportation sector are the major driver of the North America
Green Ammonia Market in the forecast period 2024-2028.
According to
TechSci Research report, “North America Green Ammonia Market - By Country,
Competition, Forecast and Opportunities, 2018-2028”, North America Green
Ammonia Market Size is anticipated to increase at a CAGR of 37.47%. Green ammonia, a sustainable and
environmentally friendly alternative to traditional ammonia production methods,
is gaining momentum as a key player in the global effort to combat climate
change and transition towards a more sustainable future. This innovative
approach to ammonia production relies on renewable energy sources, such as
wind, solar, or hydropower, to electrolyze water, creating hydrogen (H2), which
is then combined with nitrogen (N2) from the air to produce ammonia (NH3). The
process eliminates the carbon emissions associated with conventional ammonia
production, making green ammonia a carbon-neutral or even carbon-negative
substance. One of the primary drivers of the growing interest in green ammonia
is its potential to revolutionize the energy sector. Green ammonia serves as an
efficient carrier of clean energy, as it can be easily stored and transported.
When ammonia is combusted, it releases no carbon dioxide (CO2) emissions,
making it an ideal fuel for power generation, particularly in areas with
limited access to renewable electricity. As countries around the world strive
to transition away from fossil fuels and reduce their carbon footprint, green
ammonia's role as a clean energy vector is becoming increasingly significant.
Moreover, in the
transportation sector, green ammonia offers a promising solution to decarbonize
long-haul shipping, aviation, and even the automotive industry. The conversion
of green ammonia into hydrogen fuel cells for vehicles or as a marine bunker
fuel holds potential to significantly reduce emissions and promote sustainable
transportation alternatives. Additionally, its ease of handling and transportability
make green ammonia a practical choice for applications in regions where
electrification is challenging. Agriculture,
a sector responsible for a substantial portion of global ammonia consumption,
is also undergoing a transformation with the introduction of green ammonia.
Traditional ammonia production relies on fossil fuels and is associated with
significant greenhouse gas emissions. By adopting green ammonia-based
fertilizers, the agricultural industry can reduce its carbon footprint and
align with sustainable farming practices while maintaining crop yields.
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Furthermore, the
chemical industry is recognizing the benefits of green ammonia as a raw
material for various processes, further reducing the environmental impact of
industrial production. As the world seeks to achieve net-zero emissions and
transition to a circular economy, green ammonia is poised to play a pivotal
role in realizing these ambitious goals.
The North
America Green Ammonia Market is segmented into production method, end use, country
distribution, and company
Based on the
production method, the alkaline water electrolysis segment is expected to
register the highest growth of 55.08% during the forecast period
2024-2032.Alkaline Water Electrolysis (AWE) is increasingly gaining traction as
a highly promising method for producing green ammonia, and its adoption is
surging in the realms of sustainable agriculture and industry. The compelling
advantages of AWE are a driving force behind its rising popularity. One of the
most significant benefits is its reliance on clean and renewable energy
sources, such as wind or solar power, to fuel the electrolysis process. This
crucial feature results in minimal or even zero carbon emissions during ammonia
production, perfectly aligning with the global imperative to reduce greenhouse
gas emissions and combat climate change.
Moreover, AWE
stands out for its exceptional scalability, making it suitable for a wide
spectrum of applications ranging from large-scale industrial operations to
smaller, decentralized systems. Its versatility allows for the adjustment of
production volumes to meet specific demands, thus enhancing its practicality
and appeal. Additionally, AWE boasts a high level of energy efficiency,
enabling the effective harnessing of surplus renewable energy. This means that
excess energy generated during periods of peak availability can be efficiently
stored as green ammonia, serving as a valuable energy carrier or a clean fuel
source across various sectors, including the fertilizer industry.
Furthermore,
green ammonia produced through AWE exhibits high purity, making it compatible
with a broad array of industries beyond agriculture. Its applications span
sectors such as power generation and transportation, underscoring its
versatility and relevance in addressing multifaceted sustainability challenges.
In essence, Alkaline Water Electrolysis represents a sustainable and flexible
approach to green ammonia production, embodying the core principles of
environmental responsibility, energy efficiency, and scalability that are paramount
for a sustainable future.
Based
on the composition, the organic segment is expected to register the highest
growth of 5.41% during the forecast period 2024-2028. Organic Green Ammonia offer a multitude
of benefits that render them indispensable in the fight against corrosion.
Firstly, they prioritize environmental friendliness, typically exhibiting
biodegradability and lower toxicity compared to some alternative inhibitor
varieties. This aligns harmoniously with the growing emphasis on sustainability
and eco-conscious practices spanning various industries. Organic inhibitors
showcase remarkable versatility and compatibility with a wide array of
materials and systems, rendering them suitable for an extensive range of
applications, spanning from industrial processes to the marine and automotive
sectors. Their capacity to establish a protective film on metal surfaces aids
in curtailing corrosion rates, thereby extending the operational life of
crucial equipment and structures. Organic inhibitors often deliver enduring
protection, diminishing the necessity for frequent reapplication, and reducing
maintenance expenditures. Moreover, they prove effective across a broad
spectrum of temperatures and pH levels, ensuring consistent corrosion
protection in diverse environmental conditions. All in all, organic Green
Ammonia combine efficacy, environmental responsibility, and adaptability,
establishing them as the favored choice for industries in search of robust and
sustainable solutions for corrosion control.
Based on the end
use, the power generation segment is expected to register the highest growth of
55.38% during the forecast period, 2024-2032. In the realm of business and
energy, the demand for green ammonia in power generation applications is
experiencing a steady and upward trajectory. The global pursuit of cleaner and
more sustainable energy sources has placed green ammonia in the spotlight.
Produced through the efficient process of renewable energy-powered
electrolysis, green ammonia represents a pivotal solution as a clean energy
carrier and storage medium. The multifaceted role of green ammonia in power
generation is indeed noteworthy. Firstly, it serves as a direct and
emission-free fuel source in gas turbines and engines, offering a reliable
means of electricity generation. This capacity to produce electricity without
harmful emissions aligns perfectly with the industry's aspirations for cleaner
power generation methods.
Moreover, green
ammonia shines as an energy carrier, demonstrating its exceptional ability to
convert surplus renewable energy into ammonia during periods of excess supply.
Subsequently, it can effortlessly revert to electricity when the demand arises.
This innovative approach to energy storage mitigates the intermittent challenge
associated with renewable sources, effectively facilitating a more stable and
reliable grid.
Furthermore,
green ammonia plays a pivotal role in the emerging hydrogen economy by serving
as a safe and efficient means of transporting hydrogen. With its robust
transport and storage capabilities, ammonia stands as an optimal medium for
international hydrogen trade—an integral component of the global transition to
clean energy. Recognizing its potential to reduce carbon emissions, enhance
grid stability, and seamlessly integrate renewables, the power generation
sector increasingly views green ammonia as a linchpin for achieving
sustainability and low-carbon objectives. Consequently, the growing demand for
green ammonia in power generation applications underscores its critical role in
propelling the industry toward a cleaner and more sustainable future.
Based
on country, United States will witness fastest growth during the forecast
period, 2024-2032. In the United States, there is a noticeable surge in the
demand for green ammonia, propelled by the imperative to shift towards cleaner
and more sustainable practices in both the energy and agriculture sectors.
Green ammonia, characterized by its production through renewable energy sources
and sustainable methodologies, is gaining prominence as a versatile and
environmentally responsible solution. Within the energy realm, green ammonia
has captured increasing interest as a clean fuel and energy carrier. It holds
tremendous potential for decarbonizing a range of industries, encompassing
power generation, transportation, and industrial processes. As the United
States endeavours to curtail greenhouse gas emissions and combat climate
change, green ammonia has emerged as a pivotal player in advancing these
critical environmental objectives.
Additionally,
the agricultural sector in the United States, heavily reliant on ammonia-based
fertilizers, is exploring the adoption of green ammonia to mitigate the
environmental repercussions associated with conventional ammonia production.
Green ammonia offers a promising avenue for reducing emissions in agriculture
while preserving crop yields, aligning seamlessly with the sector's escalating
commitment to sustainable and environmentally conscious farming practices. The
commitment of the U.S. government to renewable energy and sustainability
initiatives, coupled with substantial investments in green technology and
infrastructure, is poised to act as a driving force in the escalating demand
for green ammonia throughout the nation. As the nation actively seeks
innovative solutions to address pressing environmental challenges and fulfil
ambitious climate targets, green ammonia is primed to assume a pivotal role in
shaping a more sustainable future across a multitude of industries in the
United States.
Major companies
operating in North America Green Ammonia Market are:
- Greenfield Nitrogen
LLC
- Avina Clean
Hydrogen Inc.
- AmmPower Corp
- LSB Industries,
Inc.
- CF Industries
Holdings, Inc.
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“The
agricultural sector is increasingly turning to green ammonia to mitigate the
environmental impact of traditional ammonia production. Green ammonia offers a
sustainable alternative to produce ammonia-based fertilizers, reducing
emissions while maintaining crop yields. As the world grapples with food
security challenges and environmental concerns, the agriculture industry is
placing a stronger emphasis on eco-friendly farming practices. Additionally, government
support and favorable policies are playing a pivotal role in driving the green
ammonia market. Incentives, subsidies, and regulations that promote the use of
renewable energy and environmentally friendly practices are encouraging
industries to transition to green ammonia production. These initiatives align
with global sustainability goals and the reduction of greenhouse gas emissions creates
a lucrative opportunity in the market growth,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“North
America Green Ammonia Market, By Production Method (Alkaline Water
Electrolysis, Proton Exchange Membrane, Solid Oxide Electrolysis), By End Use
(Power Generation, Transportation, Fertilizers, Others), By Country, By Competition
Forecast & Opportunities, 2018-2028F”, has
evaluated the future growth potential of North America Green Ammonia Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in North America Green Ammonia Market.
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