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Blue Ammonia Market Analysis by Technology (Steam methane reforming, Autothermal reforming, Gas partial oxidation), By Application (Fertilizers, Hydrogen Production, Energy Storage, Chemicals Manufacturing), By End-User Industry (Agriculture, Energy, Chemicals, Transportation) and by Region: Global Forecast, 2024 - 2033

  • PUBLISHED ON
  • 2024-02-12
  • NO OF PAGES
  • 191
  • CATEGORY
  • Chemicals & Materials

Market Overview

The Blue Ammonia market is predicted to develop at a compound annual growth rate (CAGR) of 14.5% from 2024 to 2033, when it is projected to reach USD 5.42 Billion, based on an average growth pattern. The market is estimated to reach a value of USD 2.34 Billion in 2024.

                                  

                                   

SOURCE: We Market Research

The term blue ammonia market describes the extraction, use, and storage of ammonia produced via a method that reduces the impact of carbon emissions on the environment. Carbon capture and storage (CCS) technologies are integrated into blue ammonia production, in contrast to typical grey ammonia production, which releases carbon dioxide into the atmosphere. Blue ammonia is a desirable alternative for businesses looking for greener energy sources because of its sustainable approach, which reduces greenhouse gas emissions. Blue ammonia is a promising product that can help decarbonize a number of industries, including transportation, energy production, and agriculture, and the market is expected to rise as efforts to tackle climate change become more widespread.

The market for blue ammonia is propelled by multiple critical aspects that foster its expansion and acceptance. The industry is looking for greener energy alternatives like blue ammonia due to growing environmental concerns and strict laws aimed at lowering carbon emissions. Additionally, the manufacturing of blue ammonia is becoming more practical and affordable due to developments in carbon capture and storage (CCS) technologies. Additionally, the market is expanding because to the rising need for renewable energy sources and ammonia's adaptability across a range of industries, including transportation, energy, and agriculture. Consequently, there is an increase in expenditures towards blue ammonia projects, suggesting that this environmentally beneficial energy source has a bright future.

 

Market Scope

Report Attributes

Description

Market Size in 2024

USD 2.34 Billion

Market Forecast in 2033

USD 5.42 Billion

CAGR % 2024-2033

14.5%

Base Year

2023

Historic Data

2016-2022

Forecast Period

2024-2033

Report USP

 

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

By Technology, By Application, By End-User Industry and By Region

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

 

Blue Ammonia Industry: Dynamics & Restrains

                                    

 

Market opportunity:

                                        


We Market Research: Blue Ammonia Dashboard

Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.

                                     

Blue Technology Segmentation

Market- By Technology Analysis

By Technology, the Blue Ammonia Market is Categories into Steam methane reforming, Autothermal reforming, Gas partial oxidation. The Steam methane reforming segment accounts for the largest share of around 49% in 2024.

                                

The market for blue ammonia is driven by the Steam Methane Reforming (SMR) sector due to its cost-effectiveness, scalability, and established infrastructure. SMR, which is widely used in the ammonia sector, benefits from existing knowledge to facilitate a more seamless integration into production processes, making it appealing to sectors looking for effective and reliable low-carbon solutions.

The following segments are part of an in-depth analysis of the global Blue Ammonia market:

Market Segments

 

By   Application

·         Fertilizers

·         Hydrogen Production

·         Energy Storage

·         Chemicals Manufacturing

By   End-User Industry

·         Agriculture

·         Energy

·         Chemicals

·         Transportation

 

 Blue Ammonia Industry: Regional Analysis

North America Market Forecast

North America dominate the Blue Ammonia Market with the highest revenue generating market with share of more than 47%. The North American market for blue ammonia is supported by substantial deposits of natural gas and strict emission standards. Blue ammonia projects are becoming more and more popular in the region due to government incentives, technology developments, and industry desire for sustainable solutions.

                               


Europe Market Statistics

Europe is the second-largest market for Blue Ammonia. The demand for blue ammonia is fueled in Europe by strong efforts to decarbonization and renewable energy. The development of the carbon capture and storage (CCS) industry is aided by carbon pricing schemes, supportive regulations, and large investments in CCS equipment.

Asia Pacific Market Forecasts

Asia Pacific is expected to be the fastest-growing market for Blue Ammonia during the forecast period. Growing air pollution concerns and rising energy demand in the Asia-Pacific area have sparked interest in greener energy sources like blue ammonia. The quick adoption of blue ammonia in the area is a result of investments in hydrogen infrastructure, industrial growth, and government incentives.

Key Market Players

                                  

1.      Global Blue Ammonia Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Blue Ammonia Market Scope and Market Estimation

1.2.1. Global Blue Ammonia Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2033)

1.2.2. Global Blue Ammonia Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033

1.3.    Market Segmentation

1.3.1. Component of Global Blue Ammonia Market

1.3.2. Technology of Global Blue Ammonia Market

1.3.3. End-User Industry of Global Blue Ammonia Market

1.3.4. Region of Global Blue Ammonia Market

2.      Executive Summary

2.1.    Global Blue Ammonia Market Industry Trends under COVID-19 Outbreak

2.1.1. Global COVID-19 Status Overview

2.1.2. Influence of COVID-19 Outbreak on Global Blue Ammonia Market Industry Development

2.2.    Market Dynamics

2.2.1. Drivers

2.2.2. Limitations

2.2.3. Opportunities

2.2.4. Impact Analysis of Drivers and Restraints

2.3.    Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.    Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.    Porter’s Five Forces Analysis

2.5.1. Bargaining Power of Suppliers

2.5.2. Bargaining Power of Buyers

2.5.3. Threat of Substitutes

2.5.4. Threat of New Entrants

2.5.5. Competitive Rivalry

2.6.    Value Chain / Ecosystem Analysis

2.7.    Russia-Ukraine War Impacts Analysis

2.8.    Economic Downturn Analysis

2.9.      Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

3.      Global Blue Ammonia Market Estimates & Historical Trend Analysis (2019 - 2022)

4.      Global Blue Ammonia Market Estimates & Forecast Trend Analysis, by TECHNOLOGY

4.1.    Global Blue Ammonia Market Revenue (US$ Mn) Estimates and Forecasts, by TECHNOLOGY, 2019 to 2033

4.1.1. Steam methane reforming

4.1.2. Autothermal reforming

4.1.3. Gas partial oxidation

5.      Global Blue Ammonia Market Estimates & Forecast Trend Analysis, by Application

5.1.    Global Blue Ammonia Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2033

5.1.1. Fertilizers

5.1.2. Hydrogen Production

5.1.3. Energy Storage

5.1.4. Chemicals Manufacturing

6.      Global Blue Ammonia Market Estimates & Forecast Trend Analysis, by End-User Industry

6.1.    Global Blue Ammonia Market Revenue (US$ Mn) Estimates and Forecasts, by End-User Industry, 2019 to 2033

6.1.1. Agriculture

6.1.2. Energy

6.1.3. Chemicals

6.1.4. Transportation

7.      Global Blue Ammonia Market Estimates & Forecast Trend Analysis, by Region

7.1.    Global Blue Ammonia Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2033

7.1.1. North America

7.1.2. Europe

7.1.3. Asia Pacific

7.1.4. Middle East & Africa

7.1.5. South America

8.      North America Blue Ammonia Market: Estimates & Forecast Trend Analysis

8.1.    North America Blue Ammonia Market Assessments & Key Findings

8.1.1. North America Blue Ammonia Market Introduction

8.1.2. North America Blue Ammonia Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

8.1.2.1.   By TECHNOLOGY

8.1.2.2.   By Application

8.1.2.3.   By End-User Industry

8.1.2.4.   By Country

8.1.2.4.1.     The U.S.

8.1.2.4.2.     Canada

8.1.2.4.3.     Mexico

9.      Europe Blue Ammonia Market: Estimates & Forecast Trend Analysis

9.1.    Europe Blue Ammonia Market Assessments & Key Findings

9.1.1. Europe Blue Ammonia Market Introduction

9.1.2. Europe Blue Ammonia Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

9.1.2.1.   By TECHNOLOGY

9.1.2.2.   By Application

9.1.2.3.   By End-User Industry

9.1.2.4.        By Country

9.1.2.4.1.     Germany

9.1.2.4.2.     U.K.

9.1.2.4.3.     France

9.1.2.4.4.     Italy

9.1.2.4.5.     Spain

9.1.2.4.6.     Russia

9.1.2.4.7.     Rest of Europe

10.  Asia Pacific Blue Ammonia Market: Estimates & Forecast Trend Analysis

10.1.  Asia Pacific Market Assessments & Key Findings

10.1.1.   Asia Pacific Blue Ammonia Market Introduction

10.1.2.   Asia Pacific Blue Ammonia Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

10.1.2.1.    By TECHNOLOGY

10.1.2.2.    By Application

10.1.2.3.    By End-User Industry

10.1.2.4.    By Country

10.1.2.4.1. China

10.1.2.4.2. Japan

10.1.2.4.3. India

10.1.2.4.4. Australia

10.1.2.4.5. South Korea

10.1.2.4.6. ASEAN

10.1.2.4.7. Rest of Asia Pacific

11.  Middle East & Africa Blue Ammonia Market: Estimates & Forecast Trend Analysis

11.1.  Middle East & Africa Market Assessments & Key Findings

11.1.1.   Middle East & Africa Blue Ammonia Market Introduction

11.1.2.   Middle East & Africa Blue Ammonia Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

11.1.2.1.    By TECHNOLOGY

11.1.2.2.    By Application

11.1.2.3.    By End-User Industry

11.1.2.4.    By Country

11.1.2.4.1. U.A.E.

11.1.2.4.2. Saudi Arabia

11.1.2.4.3. Egypt

11.1.2.4.4. South Africa

11.1.2.4.5. Rest of Middle East & Africa

12.  South America Blue Ammonia Market: Estimates & Forecast Trend Analysis

12.1.  South America Market Assessments & Key Findings

12.1.1.   South America Blue Ammonia Market Introduction

12.1.2.   South America Blue Ammonia Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

12.1.2.1.    By TECHNOLOGY

12.1.2.2.    By Application

12.1.2.3.    By End-User Industry

12.1.2.4.    By Country

12.1.2.4.1. Brazil

12.1.2.4.2. Argentina

12.1.2.4.3. Colombia

12.1.2.4.4. Rest of South America

13.  Competition Landscape

13.1.  Global Blue Ammonia Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

13.2.  Global Blue Ammonia Market Competition White Space Analysis, By End-User Industry

13.3.  Global Blue Ammonia Market Competition Heat Map Analysis, By End-User Industry

13.4.  Global Blue Ammonia Market Concentration & Company Market Shares (%) Analysis, 2022

14.  Company Profiles

14.1.                     Yara International ASA (Norway)

14.1.1.   Company Overview & Key Stats

14.1.2.   Financial Performance & KPIs

14.1.3.   Product Portfolio

14.1.4.   Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

14.2.      OCI (Netherlands)

14.3.      Ma'aden (Saudi Arabia)

14.4.      CF Industries Holdings, Inc. (US)

14.5.      Topsoe( Denmark)

14.6.      Saudi Arabian Oil Company (Saudi Arabia)

14.7.      ExxonMobil Corporation (US)

14.8.      Shell plc (Netherlands)

14.9.      Mitsubishi Corporation (Japan)

14.10.  ADNOC Group (United Arab Emirates)

14.11.  Nouryon (Netherlands)

14.12.  Others

15.  Research Methodology

15.1.  External Transportations / Databases

15.2.  Internal Proprietary Database

15.3.  Primary Research

15.4.  Secondary Research

15.5.  Assumptions

15.6.  Limitations

15.7.  Report FAQs

16.  Research Findings & Conclusion

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
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  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size of Blue Ammonia Market in 2024?

Blue Ammonia Market was valued at USD 2.34 Billion in 2024.

What is the growth rate for the Blue Ammonia Market?

Blue Ammonia Market size will increase at approximate CAGR of 14.5% during the forecasted period.

Which are the top companies operating within the market?

Major companies operating within the Blue Ammonia Market are Yara International ASA (Norway), OCI (Netherlands), Ma'aden (Saudi Arabia), CF Industries Holdings, Inc. (US), Topsoe (Denmark), Saudi Arabian Oil Company (Saudi Arabia), ExxonMobil Corporation (US), Shell plc (Netherlands), Mitsubishi Corporation (Japan), ADNOC Group (United Arab Emirates), Nouryon (Netherlands) and Others.

Which region dominates the Blue Ammonia Market?

North America dominates the market with an active share of 47%.

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