Market Outlook:

The Green Ammonia market size is poised to reach USD 0.29 Billion by 2024, with a projected escalation to USD 7.12 Billion by 2032, reflecting a compound annual growth rate (CAGR) of 66.0% during the forecast period (2024-2032). 

The market growth comes from its demand by both green chemical producers and power-generating facilities. The worldwide effort to assist sustainability through low-carbon technology drives market expansion. People use this chemical for lower carbon fuel due to international zero-carbon requirements and government support systems. More demand for eco-friendly fertilizers and ammonia-powered ships combined with electrolyser updates and improved ammonia production make this option more practical to use. Many countries including Japan Germany and the United States are actively supporting ammonia development because it helps with hydrogen transportation toward a hydrogen economy.

Market Dynamics:

Driver:

According to IRENA solar and wind energy will dominate renewable power production over the next years because they offer strong market potential. As of 2022 the worldwide renewable energy capacity reached 3,372 GW producing 2.79 terawatts of energy through a 9.6% increase. Hydropower with 1,256 GW capacity led all other renewable energy sources while taking up 37% of the available power sources installed globally. The majority of these power sources consisted of solar and wind energy systems which reached contributing totals of 1,053 GW and 899 GW respectively. Bioenergy produced 149 GW while geothermal generated 15 GW and marine energy 524 MW.

As both solar and wind power grow faster because of more investments and cheaper costs the world demands better ways to store energy. Low grid connection limits renewable power use so hydrogen stands as the best energy storage option. Making surplus energy into hydrogen and turning it into ammonia improves power system reliability through a better storage option than liquid hydrogen. Growing renewable energy systems increase the market for green ammonia use as an energy carrier/storage option.

Restraint:

The high cost required to set up green ammonia production plants blocks market expansion at present. Modern ammonia plants operate reliability for about 15 to 20 years. A new ammonia facility needs USD 1,300 to 2,000 per ton production capacity during development. Green ammonia production costs 1.5 times more than when natural gas powers regular ammonia manufacturing. About 75% of all running expenses in an ammonia manufacturing plant originate from the usage of natural gas or coal. Running electrolyzer units raises the expense of operating a green ammonia production facility. Green ammonia production at small factories becomes expensive due to high capital workload.

Opportunity:

Ships generate 3% of global greenhouse gases since they consume large amounts of diesel and high-sulfur fuel. Heavy fuel oil acts as the main bunker oil in ships after making its appearance as a byproduct during oil distillation. Combining this oil with high sulfur fuel in ship engines results in harmful SOx polluting the air. Shipping companies need to change their energy supply to reduce harmful emissions. To enable safer ship operations around the world the International Maritime Organization 2020 rules decreased sulfur content to 0.5% m/m during transport. The green ammonia industry will attract new players because ship operators will need to use higher-quality marine fuels because of this change.

Key Players:

•     ACME (India)
•     YARA (Norway)
•     BASF SE (Germany)
•     Siemens Energy (Germany)
•     ENGIE (France)
•     CF Industries Holdings Inc. (US)
•     Uniper SE (Germany)
•     Greenko Group (India)
•     First Ammonia (US)
•     Starfire Energy (US)
•     Allied Green Ammonia Pty Ltd (Australia)
•     thyssenkrupp AG (Germany)
•     Nel ASA (Norway)
•     ITM Power PLC (UK)
•     Green Hydrogen Systems (Denmark)
•     McPhy Energy S.A. (France)
•     Cummins Inc. (US)
•     Enapter S.r.l. (Italy)
•     Topsoe (Denmark)
•     FuelPositive (UK)
•     LONGi (China)
•     Iberdrola S.A. (Spain)
•     Hiringa Energy Ltd (New Zealand)
•     CEEC Global Ltd (China)

Recent Development:

• In February 2025 Uniper SE and Kyuden International formed an MoU to study business opportunities through joint activities in hydrogen and ammonia trading as well as renewable energy and CCUS projects. The companies collaborate Uniper's worldwide green energy operations with Kyuden International's resources to find market opportunities in Asia and worldwide. This deal will help Kyuden International develop further across Europe since Uniper offers proven power generation methods.

• Sungrow Hydrogen signed an equipment deal in January 2025 with ACME for the Oman 320 MW green ammonia plant. The company needs to deliver this equipment by 2025. Our facility will start working in 2026 by making 300 tons of eco-friendly ammonia daily.

• During November 2024 ACME Cleantech and BASF formed an agreement to send European customers green ammonia supplies. They have established written agreements to investigate additional ventures in green ammonia production with each other.

Segment Insights:

By Technology

SOEC systems bring industrial and high-temperature waste heat together to improve overall energy efficiency and cut the power needed to produce hydrogen making them a green ammonia production technology leader. These installations require less power for each unit of hydrogen generation and create more money savings particularly when energy costs are expensive. The Sun-Over-Electric-Cell design can use renewable power from solar and wind to make hydrogen which becomes green ammonia when processed. The system works best with renewable energy sources to promote a greener power generation method for our energy future.

By End-user

Businesses who want to decrease their environmental impact and meet governmental emission standards work to reduce their impact. Because it produces carbon-neutral ammonia from renewable energy Green ammonia stands out as production material for many chemical industry processes including fertilizer production. The agriculture industry needs substantial amounts of ammonia-based fertilizers to operate its farming activities. People use green ammonia to make environment-friendly fertilizers because both soil health and eco-preservation need urgent attention. Using green ammonia helps lower farm operations impacts and supports better farming methods for sustainable results. Green ammonia acts as a storage option for excess renewable energy and then turns into power or serves as raw material for industries. Green ammonia serves two purposes to store energy while improving power system balance which draws interest from companies adding renewable power to their operations.

Regional Insights:

Europe spends large sums building what is needed to make store and ship green ammonia across the region. The new green ammonia facilities support businesses to store and transport more product across Europe. Many European countries now want to use more renewable power resources in their energy systems. The European region has adequate solar power and wind energy supplies to produce green hydrogen which is further converted into green ammonia. The integration of green ammonia and renewable energy systems works as an energy buffering system to carry surplus power. People across society now back climate solutions and renewable energy which grows the demand for green ammonia. The community supports clean energy by pushing organizations and governments to build green ammonia projects as part of their sustainability programs.

Segmentation:

By Capacity

• Small-Scale
• Medium-Scale
• Large-Scale

By Application

• Power Generation
• Transportation
• Industrial Feedstock

By Technology

• Alkaline Water Electrolysis
• Proton Exchange Membrane Electrolysis
• Solid Oxide Electrolysis

By Region

North America

• USA
• Canada
• Mexico

Europe

• France
• UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Rest of Asia Pacific

Middle East & Africa

• GCC
• South Africa
• Rest of the Middle East & Africa

South America

• Brazil
• Argentina
• Rest of South America

What to Expect from Industry Profile?

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Green Ammonia market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Green Ammonia market.

3. Leading company profiles reveal details of key Green Ammonia market players’ global operations, strategies, financial performance & recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Green Ammonia market with forecast for the decade by both market share (%) & revenue (USD Million).

FAQ’s

1) What are the major factors driving the growth of the Global Green Ammonia Market?

• Growing agricultural productivity, notably in Asia and Africa, is driving up fertilizer demand on a global scale.

2) What would be the CAGR of the Global Green Ammonia Market over the forecast period?

• The Global Green Ammonia Market is poised to grow at a CAGR of 66.0% from 2024 to 2032.

3) Which region will provide more business opportunities for the growth of the Global Green Ammonia Market in the future?

• The Europe region is expected to create more opportunities in the market.

4) Who are the major players dominating the Global Green Ammonia Market?

• ACME (India), YARA (Norway), BASF SE (Germany), Siemens Energy (Germany), ENGIE (France), CF Industries Holdings, Inc. (US).

5) What are the segments in the Global Green Ammonia Market?

• By Technology, By Application, By Capacity, are the industry key segments considered for research study.

6) What is the estimated market revenue for the Global Green Ammonia Market in 2032?

• The estimated revenue for the Global Green Ammonia Market in 2032 is USD 7.12 Billion.