According to a recent market study published by Growth Market Reports, titled, Global Blue Ammonia Market by Technology (Steam Methane Reforming (SMR), Autothermal Reforming (ATR), Gas Partial Oxidation, and Coal Gasification), Application (Hydrogen Carrier, Bunker Fuel, Power Generation & Energy Storage, Fertilizers, and Others), End Use (Transportation, Energy & Power, Industrial Feedstock, and Others), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa): Size, Share, Trends and Opportunity Analysis, 2016-2035, the market was valued at USD 76.7 Million in 2023 and is projected to expand at a growth rate of 49.9% by 2035.

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As per Growth Market Reports industry analyst, Gargi Athalye, the global blue ammonia market is anticipated to register significant growth during the forecast period, 2024-2035. Ammonia, one of the most traded base chemicals globally, with natural gas as a feedstock, is primarily utilized in the manufacturing of fertilizers. However, an increasing number of manufacturers are looking for substitutes. Blue ammonia, is produced from natural gas, although with the CO2 being captured and stored, to minimize the carbon footprint. Many nations believe that this is a viable short-term solution to increase sustainability and for which the first initiatives are already underway. Blue ammonia has the potential to decarbonize combustion fuels in the future and economically decarbonize the fertilizer industry by utilizing low-cost natural gas.

Saudi Aramco recently announced a landmark blue ammonia project. Subsequently, 40 tons of ammonia produced at one of the nation's fertilizer facilities were exported to Japan, to burn ammonia in a power plant alongside coal to generate electricity. Meanwhile, 20 tons of CO2 were captured for Enhanced Oil Recovery at Uthmaniyah field of Saudi Aramco, while 30 tons were supplied to a nearby methanol plant (Ibn-Sina).

Primary and secondary research methodology is used for keen observation and study of the blue ammonia market. Primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies to stay updated with the latest market trends & developments. Validation of the estimated market size and current & future trends is done by the key opinion leaders (KOLs). These KOLs are the CXO level people from key companies in the market and possess experience of around 10-20 years in the market. Secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details & developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The outbreak of coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus to the online supply of consumer electronic gadgets and automotive components, creating manufacturing issues.

The World Health Organization (WHO) labeled the COVID-19 outbreak as a public health emergency of global concern and proclaimed it as a global pandemic in March 2020. This deadly virus has become one of the biggest pandemics in the human history. The COVID-19 outbreak is a public health emergency that affected almost every industry. The long-term effects of the pandemic are expected to affect the growth of various industries during the forecast period, especially across Eastern Europe, European Union, the US, and Eastern & Central Asia.

As of November 11, 2023, this pandemic had infected over 697,242,234 people, and over 6,933,514 people died from the disease. COVID-19 cases have been registered in more than 231 countries and territories. Many countries are economically weak, while others have poor healthcare systems that affect the economy and life of people.

Key Takeaways from the Study:

  • Key players in the market include Saudi Arabian Oil Co., Ma’aden, MITSUI & CO., LTD., Qatar Fertiliser Company (Q.P.S.C.), ADNOC Group, PAO NOVATEK, and OCI.

Report Scope:

Report Metric

Details

Market Value in 2023

USD 76.7 Million

Market Growth Rate (from 2024 to 2035)

49.9%

Historical Data

2020 & 2022

Base Year

2023

Forecast Period

2024 – 2035

Units Considered

Value (USD Million)

Market Segments

By Technology (Steam Methane Reforming (SMR), Autothermal Reforming (ATR), Gas Partial Oxidation, and Coal Gasification), Application (Hydrogen Carrier, Bunker Fuel, Power Generation & Energy Storage, Fertilizers, and Others), End Use (Transportation, Energy & Power, Industrial Feedstock, and Others), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa)

Key Companies Profiled

Saudi Arabian Oil Co., Ma’aden, MITSUI & CO., LTD., Qatar Fertiliser Company (Q.P.S.C.), ADNOC Group, PAO NOVATEK, and OCI.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

 

Target Audience:

  • Supply-side: End Use Industries

  • Demand Side: Blue ammonia manufacturing companies

  • Regulatory Side: Concerned government authorities and other regulatory bodies.