Biomass Balanced Ammonia Market Is Projected To Hit US$ 5.8 Billion With 7.8% CAGR By 2034 | Fact.MR Report

(MENAFN- GlobeNewsWire - Nasdaq) Biomass-Balanced Ammonia market Set for Significant Growth, says first of its own kind

Rockville, MD , Feb. 06, 2025 (GLOBE NEWSWIRE) -- Fact.MR, recently compiled and released a report on Biomass Balanced Ammonia Market and revealed vast potential underlying in global biomass-balanced ammonia market.

According to the report the global biomass-balanced ammonia market surpassed market value of US$ 2.7 billion in value in 2024, and with a CAGR of 7.8% throughout the period of 2024 to 2034 surpassing the value of US$ 5.8 billion by the end of 2034. The market is expected to be driven by increasing demand from agriculture, industrial chemicals, and energy storage sectors.

Market Insights

Biomass-balanced ammonia not only represents a new route toward the greening of the chemical industry but is also the main material impact to carbon emissions. This mode of production, that applies the renewable biomasses instead of the fossil feedstocks, relative to the applied biomass-balanced ammonia to this process, the amount of carbon dioxide removed from the atmosphere compared to the amount produced is able to be stated as a positive value, which is characteristic for this technology.

Discovering sustainable solutions has always been the primary pillar of sustainable development goals the same as new technologies have been and will be the drivers of economy; Biomass-balanced ammonia has become one of the essential solutions for companies to achieve their ESG goals and for the entire globe to achieve the necessary decarbonization.

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Key Takeaways from Market Study:

• The global biomass-balanced ammonia market is projected to grow at a CAGR of 7.8%, reaching US$ 5.8 billion by 2034.
• Agriculture remains the largest end-use sector, accounting for approximately 65% of the market share.
• The industrial chemicals sector contributes 20% of market demand, while energy storage applications account for 15%, with significant growth expected.
• North America accounts for one-fourth of the global demand, with the U.S. leading due to robust decarbonization initiatives.
• Europe leads the market with a 40% share, driven by advanced biorefinery infrastructure and supportive policies like the EU's Fit for 55 initiative.
• The Asia-Pacific region is witnessing the fastest growth, with a CAGR of 9.2% through 2034, fueled by China's decarbonization goals and India's National Green Hydrogen Mission.

Leading Players Driving Innovation in the Biomass Balanced Ammonia Market:

Acron Group; Agrium Inc. (now part of Nutrien); BASF SE; CF Industries Holdings, Inc.; Hindalco Industries Limited; Koch Industries, Inc.; Nutrien Ltd.; OCI N.V.; Yara International ASA; Other Market Players

Regional Insights:

North America, the U.S. at the forefront, holds the most developed biomass-balanced ammonia market in the world. Primary actions like the Inflation Reduction Act have instigated the proliferation of the production of renewable feedstocks, together with the assistance of the vast agricultural residuals in the Canadian market. The region is responsible for almost one fourth of the global demand.

Europe is another key consumer and producer, holding over 35% of the global market. Countries like Germany and the Netherlands benefit from the technological advantages given by biorefineries, while the Scandinavian countries face development problems in spite of strong policies. The EU's sustainability policies have driven the adoption of biomass-balanced ammonia in various industrial and agricultural sectors.

The Asia-Pacific region is the fastest-growing market, with a projected CAGR of 9.2%. Driving forces for the regional development of China and India are decarbonization plans and injections of finances into green hydrogen. Further, Japan and South Korea concentrate on energy storage applications in the lifecycle of the product.

Brazil leads the way in Latin America with its vast agricultural residues being the main source for producing sustainable fertilizers. Argentina's energy sector which is rapidly developing in renewable energy also helps.

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Recent Industry Developments:

• BASF SE had launched a biomass-balanced ammonia pilot plant in Germany in 2024.
• In June 2022, Yara International cooperated with Japanese companies for supplying biomass ammonia for hydrogen storage applications.

The biomass-balanced ammonia market is set to continue its upward trajectory, with a projected valuation of US$ 5.8 billion by 2034. Agricultural modernization, industrial decarbonization, and advancements in hydrogen storage technologies are the forces that will propel market expansion. Driving forces for the development of emerging economies are the large resources of biomass and the implementation of renewable energy technology.

Biomass Balanced Ammonia Industry News:

CF Industries made a US$2 billion investment in a low-carbon ammonia production facility in North America in September 2023.

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