Ammonia is a chemical utilized in nitrogenous fertilizers manufacturing, such as ammonium nitrate and urea. It can also be utilized for other uses, such as running engines. The production of green ammonia involves producing ammonia that is wholly renewable and carbon-free.
Uses of Green Ammonia
• Energy Storage: It is easy to store the high volume of ammonia in a liquid form at modest pressures between 10 to 15 bar, or it can be refrigerated to -33°C. It makes it an ideal chemical stored as a renewable energy resource.
• Zero-Carbon Fuel: Ammonia can be burnt in an engine, or it can be used in a fuel cell for producing electricity. Ammonia usage releases only two by-products such as nitrogen and water.
• The maritime industry is projected to adopt green ammonia as a substitute for fuel oil in marine engines.
In 2021, the green ammonia industry contributes $16.4%, and it is projected to capture $6,559.1 million, advancing at a rate of 94.6% from 2021 to 2030. It is attributed to the in-progress industrial projects for green ammonia production in Oman, Mauritania, and Oceania.
In addition, the announced project with a capacity of 15-metric-ton is projected to be achieved by 2030, accounting for delivering the 8% of the current ammonia production capacity of 54 projects. Along with this, the strict regulations to attain the zero-emission goals fuel NH3 production through various clean methods.
Under the production segment, alkaline water electrolysis captures a significant share of the industry, accounting for 97.5%. It is attributed to the rising penetration of hydrogen projects in numerous countries, such as China, Australia, and Germany, which are increasingly concentrating on developing a hydrogen-based economy.
Thus, it creates opportunities for green ammonia by utilizing AWE technology, which is economic, mature, and conventional, led by the surging investments in hydrogen infrastructure. Numerous industrial plants utilize this method for chemical manufacturing. For instance, CF Industries Holdings Inc. partnered with ThyssenKrupp AG for delivering the 20MW AWE plant for hydrogen manufacturing in Louisiana, U.S.
APAC captures the largest share of the industry, amounting to $5.18 million, and it is expected to capture $3,008.70 million in 2030, advancing at a rate of 102.8%. It is led by stringent government regulations and the UN commitment to ensuring zero emissions. Wind and solar energy are crucial for carrying out AWE, in order to adhere to strict emission laws and regulations, and attain the zero-carbon goals.
The green ammonia industry is projected to rise due to the decline in the consistently rising cost of chemical production. Pilot uses are predicted to be frequent in the coming led by zero emissions awareness. Moreover, North America, European Union, and APAC have set their priorities, as the majority of countries have agreed to meet the binding target of net zero in 2050.
In addition, the increasing understanding of long-term sustainable energy storage, and the right usage of green ammonia in the production of agricultural fertilizers, electricity, and other products, with having no harm to the environment proliferate the industry growth.
Therefore, the rising environmental awareness and participation of countries in attaining the zero-emission goal by 2050 boost the demand for green ammonia.