The blue ammonia global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Blue Ammonia Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
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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Scope Of Blue Ammonia Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Blue Ammonia Market Overview
Market Drivers -
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.
Market Trends -
Major companies operating in the blue ammonia market are developing innovative
solution such as blue and green ammonia project to sustain their position in
the market. These project revolutionizes ammonia production by expanding
capacity by boosting efficiency and environmental sustainability. For instance,
in October 2022, KBR Inc., a US-based engineering company, launched a massive
10,000 (metric tons per day) MTPD blue and green ammonia solution that
incorporates sophisticated digital technologies to create dependable, flexible,
and scalable solutions for meeting clean ammonia and hydrogen demands for the
energy transition. This unique solution highlights the increased interest in
using ammonia as a fuel source and integrating advanced digital technologies to
improve energy efficiency and sustainability.
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
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Regional Insights -
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.
Key Companies -
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.
Table of Contents
1. Executive Summary
2. Blue Ammonia Market Report Structure
3. Blue Ammonia Market Trends And Strategies
4. Blue Ammonia Market – Macro Economic Scenario
5. Blue Ammonia Market Size And Growth
…..
27. Blue Ammonia Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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