The green ammonia market will grow at a mammoth rate of 94.6% by the end of this decade, to reach USD 6,559.1 million by 2030. This has a lot to do with the numerous industrial projects for producing Green Ammonia that are underway in Mauritania, Oceania, and Oman.
The 15-metric-ton capacity of the projects, which is sought after till 2030, is about 8% of the existing production of the chemical from 54 projects. Basically, the strict regulations pertaining to emissions and zero-emission goals are powering the production of NH3 with the help of clean methods.
Based on production, the AWE category had the largest share of 97.5%, in the past. The main reason for this is the growth in the projects of green hydrogen in the nations, such as China, Australia and Germany, which are concentrating on investing in the making of a hydrogen-based economy.
Sequentially, the investments in hydrogen infra will then give rise to prospects for the production of green ammonia with the help of this technology, which is cost-effective, conventional and mature. There are numerous industrial plants making use of this technique for the manufacturing of the chemical.
APAC green ammonia market had a value of approximately USD 5.18 million in the past, which will showcase an explosive rate of 102.8%, for reaching USD 3,008.70 million by the end of this decade.
This has a lot to do with the strict regulations of the governments and the commitment of the United Nations to guarantee zero emissions by 2050. Solar and wind power are booming for the implementation of AWE, due to the strict laws regarding emissions and zero-carbon goals.
Australia will have the fastest growth in the region ion the future, as a result of the snowballing investment of the national government in building a green hydrogen economy. As stated by the data, numerous green ammonia plants are in the phase of construction with a combined capacity of 20,000–60,000 tons on a yearly basis.
Ammonia is used as a feedstock for nitrogen-containing, inorganic, fertilizers; so, fertilizers dominated the industry, with about 53.7% share in the past.