Global Blue Ammonia Market Size Set to Cross USD 1.4 Billion by 2030, Booming at CAGR of 63.12% During 2024–2030

Published | 12 January 2024

Global Blue Ammonia Market is gaining traction because of the growing demand for clean energy and stringent government regulations supporting fuels from sustainable sources.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Blue Ammonia Market size at USD 75.29 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Blue Ammonia Market size to boom at a CAGR of 63.12% reaching a value of USD 1,418.24 million by 2030. The growing emphasis on decarbonization among nations and the move toward clean energy in several industries, including power generation and transportation, are significant growth factors for the Global Blue Ammonia Market. Additionally, it is projected that over the forecast period, growing public-private investments in the infrastructure needed to produce blue ammonia will also drive the Global Blue Ammonia Market.

Opportunity: Increasing investments in blue ammonia production infrastructure

With rising demand for clean energy across industries and countries, natural gas-producing countries, including Russia and Middle Eastern countries, are investing in blue ammonia production infrastructure. For instance, Abu Dhabi National Oil Company (ADNOC) announced a world-scale “blue” ammonia production facility in Ruwais, Abu Dhabi, in the United Arab Emirates (UAE) with a production capacity of 1,000 kilotons per annum. Furthermore, countries are also collaborating to boost research and development activities to expand the blue ammonia application. Russia and Japan have recently joined hands to study the possibility of transporting blue ammonia produced in Russia’s Siberia for utilization at coal-fired power generation plants in Japan. Such developments are anticipated to present lucrative growth opportunities for the companies in the Global Blue Ammonia Market.

Global Blue Ammonia Market – By Application

Based on application, the Global Blue Ammonia Market is segmented into transportation, power generation, and industrial feedstock. The industrial feedstock segment accounts for the highest share of the market. Blue ammonia serves as the transition between gray ammonia and green ammonia. It enables enterprises to rapidly lower their carbon footprints while also constructing infrastructure for green ammonia. Blue ammonia helps to decarbonize the fertilizer, petrochemical, and steel industries. However, the transportation segment is also registering a significant growth rate owing to the increasing use of blue ammonia as an alternative fuel.

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Impact of Escalating Geopolitical Tensions on Global Blue Ammonia Market

The escalating geopolitical tensions are hindering the growth of Global Blue Ammonia market. For instance, Russia is a leading producer of ammonia. However, the ongoing Russian war on Ukraine has disrupted supply chains and hindered the production of blue ammonia, leading to its shortage in the global market. Industry analysts have cautioned that due to international sanctions imposed on Russia because of the invasion of Ukraine, blue ammonia producers may find it more difficult to import the necessary production equipment and hire specialized Western contractors to construct processing facilities. Countries are currently being forced to prepare new supply lines due to export prohibitions. The obvious outcome is that nations that previously imported fertilizers would now strategically need to expand their need for new fertilizer manufacturing locally. This situation would exacerbate the need for technological advancements in the production of hydrogen, an essential component of ammonia.

Global Blue Ammonia Market – By Region

The in-depth research report on the Global Blue Ammonia Market covers a number of country-specific markets across five major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. North America dominates the Global Blue Ammonia Market. Blue ammonia is emerging as an efficient fuel to boost the low-carbon economy and therefore is gaining immense traction in various sectors, particularly in the shipping industry. Furthermore, the United States has favorable policies to boost the research and development activities surrounding blue ammonia on its ground, which is anticipated to drive the Global Blue Ammonia Market during the forecast period.

Competitive Landscape

Major players operating in the Global Blue Ammonia Market include Yara International ASA, Saudi Arabian Oil Co., OCI, Ma'aden, CF Industries Holdings, Inc., Mitsubishi Heavy Industries, Ltd, Air Liquide S.A., Engie S.A., Mitsui & Co., Ltd, Técnicas Reunidas, S.A., Kawasaki Heavy Industries, Ltd, Sumitomo Mitsui Construction Co., Ltd, Daelim Industrial Co., Ltd, Wood Group PLC, and Linde plc.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Global Blue Ammonia Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Blue Ammonia Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Blue Ammonia Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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