Green Ammonia Market Outlook 2028

Green ammonia is derived from renewable energy sources. The production of green ammonia uses hydrogen sourced from renewable energy source instead of natural gas or coal and thereby reduces greenhouse gas emissions. It is a renewable and carbon-free ammonia production process. The global green ammonia market is estimated to grow with a CAGR of 62.84% during the forecast period, i.e., 2021-2028. Factors such as the growing concern for environmental pollution caused due to the rising greenhouse gas emissions from the production of ammonia from conventional fossil fuels is one of the major factors anticipated to drive the market growth. Further, the increasing adoption of energy-efficient technologies for the production of ammonia is also anticipated to create numerous opportunities for market growth during the forecast period. Green ammonia is used across various industries as a building block such as fabrics, pesticides, fertilizer, plastics, explosives, and dyes in residential and commercials applications and it is the 2nd most-produced chemical globally. As a result, it is very important to monitor the amount of GHG emissions emitted from the manufacturing of ammonia, which in turn is anticipated to drive the market growth. The market is further projected to garner a revenue of close to USD 850 Million by the end of 2028 from a value of around USD 13 Million in 2019.

The global green ammonia market is segmented by numerous segments, and include segmentation by technology, application, and by region. The technology segment is bifurcated into alkaline water electrolysis, proton exchange membrane, and solid oxide electrolysis. Out of these segments, the solid oxide electrolysis segment is anticipated to hold the largest market share throughout the forecast period and further attain a market revenue of around USD 496 Million by the end of 2028.

Some of the market players in the global green ammonia market that are mentioned in our report are Nel ASA, Siemens AG, ITM Power, thyssenkrupp Industrial Solutions, MAN Energy Solutions SE, McPhy Energy S.A., and others.