Europe Green Ammonia Market to Grow with a CAGR of 40.19 % through 2032
Raising demand from power generation and transportation
sector are the major driver of the Europe Green Ammonia Market in the forecast
period 2024-2032
According to TechSci Research report, “Europe Green
Ammonia Market - By Region, Competition, Forecast and Opportunities, 2022-2032”,
Europe Green Ammonia Market Size is anticipated to increase at a CAGR of 40.19%
and is expected to reach USD 3702.93 Million by 2032. Green ammonia, recognized
as an eco-friendly substitute for conventional ammonia production techniques,
is gaining substantial traction in the global drive to combat climate change
and transition towards a more sustainable future. This innovative approach to ammonia
manufacturing harnesses renewable energy sources like wind, solar, or
hydropower to carry out water electrolysis, generating hydrogen (H2), which is
subsequently combined with nitrogen (N2) from the atmosphere to produce ammonia
(NH3). This process eliminates the carbon emissions linked to traditional
ammonia production, rendering green ammonia a carbon-neutral or even
carbon-negative substance. The surging interest in green ammonia is notably
propelled by its potential to revolutionize the energy sector. Green ammonia
emerges as an efficient carrier of clean energy due to its easy storage and
transportability. It serves as an exceptional fuel for power generation,
especially in regions with limited access to renewable electricity, as it emits
no carbon dioxide (CO2) during combustion. As nations worldwide endeavor to
shift away from fossil fuels and minimize their carbon footprint, the role of
green ammonia as a clean energy vector becomes increasingly prominent.
Furthermore, green ammonia presents a promising
solution for decarbonizing various modes of transportation, including long-haul
shipping, aviation, and the automotive industry. The conversion of green
ammonia into hydrogen fuel cells for vehicles or as a marine bunker fuel holds
significant potential to substantially reduce emissions and promote sustainable
transportation alternatives. Its ease of handling and transportability make
green ammonia a pragmatic choice for applications in regions where
electrification poses challenges. The agricultural sector, a major consumer of
ammonia, is also undergoing transformation with the integration of green
ammonia. Traditional ammonia production relies on fossil fuels and is linked to
substantial greenhouse gas emissions. By embracing green ammonia-based fertilizers,
the agricultural industry can reduce its carbon footprint, align with
sustainable farming practices, all while maintaining crop yields.
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Moreover, the chemical industry is increasingly
acknowledging the advantages of employing green ammonia as a fundamental
component in various industrial processes, contributing to a reduction in the
environmental footprint of industrial production. In the global pursuit of
net-zero emissions and the transition towards a circular economy, green ammonia
stands ready to assume a crucial role in the realization of these ambitious
objectives.
The Europe 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 55.67%
during the forecast period 2024-2032. Alkaline Water Electrolysis (AWE) is swiftly emerging
as a highly promising technique for producing green ammonia, and it comes with
several notable advantages that contribute to its increasing popularity in both
sustainable agriculture and various industries. A standout feature of AWE is
its reliance on clean and renewable energy sources like wind or solar power to
drive the electrolysis process. This results in minimal to zero carbon
emissions during the production of ammonia, aligning seamlessly with the
imperative goal of reducing greenhouse gas emissions and addressing climate
change head-on. Additionally, AWE offers remarkable scalability, rendering it
suitable for a broad spectrum of applications, from large-scale industrial
settings to smaller, decentralized systems. Its adaptability and capacity to
adjust production levels to meet specific requirements enhance its overall
appeal.
Moreover, AWE excels in terms of energy efficiency,
ensuring the effective utilization of surplus renewable energy. This means that
excess energy generated during periods of peak availability can be effectively
stored as green ammonia, serving as an invaluable energy carrier or clean fuel
source across diverse applications, including its pivotal role in fertilizers.
The green ammonia produced through AWE also boasts a high level of purity,
making it compatible with a wide array of industries beyond agriculture,
including power generation and transportation. To sum it up, Alkaline Water
Electrolysis stands as a sustainable and versatile method for green ammonia
production, epitomizing the principles of environmental stewardship, energy
efficiency, and scalability that are indispensable for a sustainable future.
Based on the end use, the power generation segment is
expected to register the highest growth of 55.97% during the forecast period,
2024-2032. The increasing demand for green ammonia in power generation
applications is a response to the global pursuit of cleaner and more
sustainable energy sources. Green ammonia, a product of renewable energy-driven
electrolysis, is gaining recognition for its substantial potential as a clean
energy carrier and a solution for energy storage. Its role in the power
generation sector is multifaceted. Firstly, green ammonia can be employed
directly as a fuel in gas turbines or engines, providing a dependable and
emissions-free means of electricity generation. Additionally, it serves as a
versatile energy carrier, allowing surplus renewable energy to be converted
into ammonia during periods of excess supply. This ammonia can then be
efficiently converted back into electricity when required, effectively storing
intermittent renewable energy.
Furthermore, the ability of green ammonia to transport
hydrogen safely and in a denser form positions it as a vital component of the
burgeoning hydrogen economy. Ammonia's ease of transport and storage makes it
an excellent medium for the international trade of hydrogen, which is
considered a fundamental element in the transition to clean energy. The power
generation sector is increasingly acknowledging green ammonia's potential to
reduce carbon emissions, bolster grid stability, and facilitate the integration
of renewable energy sources. Consequently, it is being recognized as a pivotal
solution for achieving a sustainable and low-carbon future within the power
generation industry. This growing recognition is fueling the escalating demand
for green ammonia in this critical application.
Based on country, France will witness
fastest growth during the forecast period, 2024-2032. The demand for green
ammonia in France is experiencing a significant upsurge as the nation
intensifies its commitment to sustainability and clean energy solutions. Green
ammonia, produced through renewable energy-driven electrolysis, is gaining
prominence as a versatile and eco-friendly energy carrier. France, with its
dedication to reducing carbon emissions and transitioning to greener energy
sources, sees green ammonia as a vital component of its sustainable energy
landscape. In particular, the agriculture sector in France is increasingly
adopting green ammonia as a clean and efficient source of nitrogen-based
fertilizers, aligning with eco-conscious farming practices. The transportation
sector is also showing interest in green ammonia as a potential fuel for
reducing emissions in road, maritime, and aviation applications. France's
strong emphasis on renewable energy sources, such as wind and solar power,
offers ideal conditions for green ammonia production, further boosting its
demand. Additionally, government incentives and initiatives to promote clean
energy technologies are fostering a favourable environment for green ammonia
adoption in France. As the nation strives to meet its ambitious climate goals
and promote sustainable practices, the demand for green ammonia is poised for
continued growth across various sectors, contributing to France's sustainable
energy transition.
Major companies operating in Europe Green Ammonia Market
are:
- Yara International ASA
- ThyssenKrupp AG
- Siemens Energy AG
- BASF SE
- NEL Hydrogen AS
- Green Hydrogen Systems A/S
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“The agricultural sector is increasingly embracing
green ammonia to address the environmental repercussions associated with
traditional ammonia production. Green ammonia presents a sustainable
alternative for manufacturing ammonia-based fertilizers, effectively reducing
emissions while upholding crop yields. As the world confronts challenges
related to food security and environmental considerations, the agricultural
industry is placing greater emphasis on environmentally responsible farming
practices. Furthermore, government backing, and favorable policies are playing
a pivotal role in propelling the green ammonia market forward. The presence of
incentives, subsidies, and regulatory measures that advocate for the adoption
of renewable energy sources and eco-friendly practices is incentivizing
industries to shift towards green ammonia production. These initiatives are in
alignment with global sustainability objectives and the overarching goal of
curbing 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.
“Europe 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 Europe 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 Europe Green Ammonia
Market.
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