The Development Status and Prospects of Green Ammonia Technology
In terms of market prospects, according to the green ammonia market report published by the globally renowned market research and consulting company Future Market Insights, the global green ammonia market is expected to develop at an astonishing 90% rate in the next decade, reaching $5.4 billion by 2030. By the end of 2028, the European green ammonia market is expected to have the world's largest market share, generating revenue of $558.03 million, up from $7.49 million in 2019, thanks to an estimated compound annual growth rate of 65.37% during the forecast period from 2022 to 2032. The Asia Pacific region is expected to occupy the second largest market share globally, with a revenue potential of 190.69 million US dollars. For a single country, the Netherlands may have the largest market revenue by 2028, reaching $271.2 million, while Germany's market revenue is expected to grow at the fastest rate of 86.35% during the forecast period.
In terms of industrialization bottleneck, the capital intensive nature is the main obstacle to the industrialization of green ammonia production, mainly due to the higher cost of preparing green ammonia through renewable energy and electrolytic cells compared to traditional processes. Therefore, unless the cost further decreases, most synthetic ammonia manufacturers will find it difficult to shift from traditional synthetic ammonia production to green synthetic ammonia production. At present, large chemical enterprises in China and Japan continue to use the traditional technology of natural gas steam methanation. The green ammonia projects invested in and built in the past two years mainly include global giants, large Chinese enterprises, and government supported projects.
Overall, in the context of globalization in carbon emissions reduction, some countries have strengthened carbon tax policies and Chinese government funding to support low-carbon projects. International giants and large Chinese enterprises have actively responded to policy calls, taking the lead in laying out green ammonia energy and market layout in advance. In the next decade, with the joint promotion of government and enterprises, the green ammonia industry will develop rapidly.