PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421683
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421683
The global blue ammonia market size is expected to reach USD 22.91 billion by 2032, according to a new study by Polaris Market Research. The report "Blue Ammonia Market Share, Size, Trends, Industry Analysis Report, By Technology (AutoThermal Reforming (ATR), Haber-Bosch Process); By Manufacturing Process; By Distribution Channel; By Application; By End-Use; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Blue ammonia has garnered significant interest for its potential as a turbine engine fuel across a range of applications. This includes its direct use in combustion and its indirect utilization as an industrial feedstock through conversion into nitrogen and hydrogen. A standout advantage of ammonia lies in its superior transport and storage characteristics when compared to liquid hydrogen. Unlike liquid hydrogen, ammonia does not require extremely low temperatures for storage and boasts a higher energy density. These advantages offer substantial benefits, especially when contrasted with the storage, purity requirements, and transportation challenges associated with hydrogen.
For countries that were previously dependent on imported fertilizers but are now pursuing local supply options for strategic reasons, the need for increased fertilizer production has become apparent. This shift has further heightened the demand for blue ammonia.
Nevertheless, the market's revenue growth is expected to encounter limitations due to competition from other low-carbon fuels. Notably, green ammonia has gained substantial attention both from a commercial and policy perspective. This interest arises from its versatility in multiple industries as a tool for decarbonization. Green ammonia serves various transportation sectors, including heavy-duty trucks, railways, aircraft, and maritime vessels. Additionally, it provides a means to curtail carbon emissions within the agricultural and chemical sectors and extends its benefits to the decarbonization of electricity generation and transportation as a whole.
Additionally, a study published in the National Library of Medicine in June 2021 highlighted the significant impact of coronary artery disease (CAD) on global health. CAD alone is responsible for approximately 610,000 deaths annually, accounting for an estimated one in four deaths and making it the foremost cause of mortality in the United States. With the incidence of CAD rising, there is a growing demand for effective Blue Ammonia devices to address this pressing medical need. Consequently, this factor is projected to drive the demand for Blue Ammonias throughout the forecast period.
Polaris Market Research has segmented the Blue Ammonia market report based on technology, manufacturing process, distribution channel, application, end-use, and region: