Green Ammonia Market Size To Reach $6.16 Billion By 2030 At 66% CAGR

(MENAFN- GetNews) The global Green Ammonia Market Size is expected to grow from USD 0.29 billion in 2024 to USD 6.16 billion by 2030, with a CAGR of 66.0% from 2024 to 2030.

The global Green Ammonia Market Size is expected to grow from USD 0.29 billion in 2024 to USD 6.16 billion by 2030, with a CAGR of 66.0% from 2024 to 2030 . Green ammonia may be produced using renewable energy sources such as wind and solar power. This integration promotes the use of excess renewable energy, which would otherwise be limited, and converts it into a reliable and transportable source of energy. This ability to store and transmit renewable energy minimizes intermittency while increasing system stability. Green ammonia is a possible option for companies to produce green chemicals and fertilizers that fulfill sustainability and regulatory requirements.

The green ammonia industry is being driven by demand from green chemical makers and the power-generating industry. Similarly, the global push for sustainable and low-carbon solutions will also propel the market growth. It is gaining traction as a low-carbon alternative for fertilizers, maritime fuel, and hydrogen storage, driven by net-zero targets, stricter emission regulations, and government incentives. Rising demand for sustainable fertilizers and ammonia-powered vessels, along with advancements in electrolyzer efficiency and ammonia synthesis, are making it more viable. Additionally, its role as a hydrogen carrier supports the broader hydrogen economy, with countries like Japan, Germany, and the US investing heavily in its commercialization.

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The rapid growth of solar and wind energy, driven by rising investments and falling costs, is increasing the need for efficient energy storage. Limited grid connectivity prevents full utilization of renewable power, making hydrogen a key storage solution. Converting surplus energy into hydrogen and storing it as ammonia, which has a higher energy density and is easier to transport than liquid hydrogen, enhances energy supply reliability. As renewable energy generation expands, the demand for green ammonia as a storage and transport medium will grow.

Solid Oxide Electrolysis can integrate waste heat from industrial operations and high-temperature sources, enhancing overall system efficiency and reducing energy requirements for hydrogen production, making them a promising option for green ammonia production. Their higher efficiency allows them to consume less power per unit of hydrogen compared to low-temperature electrolysis, leading to lower operational costs, especially in regions with high electricity prices. Additionally, Solid Oxide Electrolysis can effectively utilize renewable energy sources like solar and wind to produce green hydrogen, which can then be converted into green ammonia. Their ability to operate efficiently with variable renewable energy inputs further supports the transition to a sustainable energy system.

Europe has made enormous investments in the infrastructure required to produce, store, and distribute green ammonia. The construction of pipelines, terminals, and storage facilities improves the scalability and logistics of green ammonia, allowing it to be widely adopted throughout the area. Furthermore, European nations have made significant pledges to increase the percentage of renewable energy in their energy mix. The availability of wind and solar resources in Europe offers a solid foundation for the creation of green hydrogen, which is subsequently converted into green ammonia. The combination of green ammonia with renewable energy sources helps to stabilize the system and store extra energy. Similarly, rising public knowledge and support for renewable energy and climate action are driving higher demand for green ammonia. The general public and stakeholders are campaigning for greener energy options, encouraging businesses and governments to incorporate green ammonia into their sustainability initiatives.

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Key Market Players:

Some of the major players in the Green Ammonia Market are Siemens Energy (Germany), ACME Group (India), Iberdrola, S.A. (Spain), ThyssenKrupp AG (Germany), Nel ASA (Norway), and Yara (Norway).

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