The global blue ammonia market revenue was around US$ 13.12 billion in 2022 and is estimated to reach US$ 21.7 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2023 to 2031.
Blue ammonia is a version of low-carbon fuel and an essential feedstock for blue Hydrogen. It is composed of nitrogen and “blue” Hydrogen obtained from natural gas feedstocks, with carbon dioxide as a product from hydrogen production seized and stored. It is used for a broad range of industrial applications, including shipping and transportation, power generation, and industries including cement, steel, fertilizer production, and others.
Market Driving Factors
Increasing initiatives desired to support the hydrogen-based economy drive market growth. The utilization of hydrogen gas as a main energy source in transportation, power generation, and industrial processes plays a key role in the transition towards a hydrogen-based economy. In addition, the imperative aims of this transition are to lower greenhouse gas emissions, reduce dependence on fossil fuels, and combat climate change difficulties. Furthermore, blue ammonia emerges as a fascinating fuel choice in the journey toward a hydrogen economy owing to its versatile applications and lower carbon emissions. Thus, blue ammonia is gaining popularity as a good clean energy carrier and fuel source.
The potential of blue ammonia as a fuel for power generation and transportation boosts the market growth. This is due to the ammonia is currently being utilized more often in turbine engines, either instantly for combustion or indirectly for industrial feedstock by improving it back into hydrogen and nitrogen. Additionally, ammonia is easier to store and transport than liquid hydrogen since it does not require to be chilled to excessively lower temperatures and has a higher energy density than liquid hydrogen.
A limited understanding of blue ammonia within specific industries limits the market growth.
Regional Analysis
North America dominated the market in terms of the largest revenue. This can be attributed to the proactive efforts of main market players within this region who are actively engaged in the advancement of different infrastructures for blue ammonia production. For instance, in February 2023, Linde successfully joined into a lasting agreement to offer environmentally friendly hydrogen and several industrial gases to OCI's expansive blue ammonia plant situated in Texas, and Beaumont. Linde will take charge of managing the ownership, construction, and operation of an on-site complex, which will contain a significant air separation plant and incorporate auto-thermal reforming with carbon capture.
Asia Pacific dominates the market in terms of the fastest rate during the forecast period. Japan has emerged as a leader in electronic technology, largely attributable to its significant efforts in promoting connector technologies. Unlike other countries, Japan has continuously made significant strides in ammonia procurement technology through broad, long-term development projects, which offer many benefits.
Segmentation Insights
Technology Insight
The auto-thermal reforming (ATR) segment dominates the market in terms of the highest share during the projection period. ATR is acquiring prominence as an appealing option for upcoming blue hydrogen projects, especially when seamlessly integrated with carbon capture technology, owing to its multiple advantages. Furthermore, critical players in the energy and chemical industries, such as Equinor, Air Liquide, Air Products, and others. They are actively embracing ATR for large-scale blue hydrogen facilities.
Manufacturing Process Insight
The steam methane reforming segment is dominating the market. This is due to its affordable and eco-friendly technique of creating pure hydrogen. Under high pressures and temperatures, a catalyst is used to facilitate the direct reaction of steam and methane during the process. Additionally, a catalyst is utilized during the process to help the direct reaction of steam and methane under high pressure and temperature conditions. Synthesis gas is the end product of this process. Syngas is mixed with nitrogen to make ammonia. Steam methane reforming is a highly productive process making great use of the chemical and heat energy of the reactants.
Prominent Companies
Segmentation Outline
The global blue ammonia market segmentation focuses on Technology, Manufacturing Processes, Distribution Channels, Applications, and Region.
By Technology
By Manufacturing Process
By Distribution Channel
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL BLUE AMMONIA MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: BLUE AMMONIA MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL BLUE AMMONIA MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL BLUE AMMONIA MARKET, BY TECHNOLOGY
5.1 OVERVIEW
5.2 AUTOTHERMAL REFORMING (ATR)
5.3 HABER-BOSCH PROCESS
6 GLOBAL BLUE AMMONIA MARKET, BY MANUFACTURING PROCESS
6.1 OVERVIEW
6.2 THERMOCHEMICAL PROCESS
6.3 STEAM METHANE REFORMING (SMR)
6.4 ELECTROCHEMICAL PROCESS
7 GLOBAL BLUE AMMONIA MARKET, BY DISTRIBUTION CHANNEL
7.1 OVERVIEW
7.2 DISTRIBUTION/WHOLESALERS
7.3 E-COMMERCE
7.4 DIRECT SALE
8 GLOBAL BLUE AMMONIA MARKET, BY APPLICATION
8.1 OVERVIEW
8.2 FUEL
8.2.1 POLYMERS
8.2.2 FERTILIZERS
8.2.3 POWER GENERATION
8.2.4 PHARMACEUTICALS
8.3 ENERGY STORAGE
8.3.1 RENEWABLE ENERGY INTEGRATION
8.3.2 GRID-SCALE ENERGY STORAGE
9 GLOBAL BLUE AMMONIA MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL BLUE AMMONIA MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 AIR LIQUIDE S.A.
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 AMMONIA CASALE S.A.
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 CF INDUSTRIES HOLDINGS, INC
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 HALDOR TOPSOE A/S
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 LINDE PLC
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 MITSUBISHI HEAVY INDUSTRIES, LTD
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 SIEMENS ENERGY AG
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. TECHNIPFMC PLC
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 THYSSENKRUPP AG
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 YARA INTERNATIONAL ASA
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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