According to UnivDatos, the “Europe Green Ammonia Market” was valued at USD 36.7 Million and is expected to grow at a strong CAGR of around 77.2% during the forecast period (2024-2032) owing to rising investment in renewable energy.

The Europe region is projected to dominate the forecast period as the region has the highest number of automotive manufacturers and production units that cater to the demand for green ammonia. The foremost factors attributed to the boom of the market are the increasing favorable government policies, technological advancements, investment by governments and private players, economic growth, and policies to reduce decarbonization. Moreover, the increasing awareness among people about renewable energies and increased focus on using ammonia to deliver hydrogen as a clean-burning fuel for industries. Additionally, numerous green hydrogen projects and the growing investment in the region are also driving the market growth. Likewise, factors such as supportive government policies, efforts to meet the rising power, transportation fuel demand using renewable energy sources, and decrease the dependency on fossil fuels to reduce carbon emissions are significant contributors to the growth of the market. Similarly, while the decarbonization of ammonia production for fertilizers is already critical to meeting net-zero emissions targets, green ammonia also has immense potential to serve as a next-generation zero-carbon fuel. In this way, it represents a highly flexible way of storing renewable energy and a key complementary technology to direct electrification. For instance, The EU hydrogen strategy aims to create at least 6 GW of electrolyzer capacity by 2024, enough to produce up to 1 Mt/yr of green hydrogen. In addition, the company HEGRA (co-owned by Yara, Aker Clean Hydrogen, and Statkraft), aims to electrify and decarbonize the ammonia plant at Herøya (Norway), enabling large-scale green ammonia production. Furthermore, this project will reduce CO2 emissions by 800,000 tonnes annually, equivalent to 300,000 fossil-fueled cars. With this, the company marks the beginning of developing a Norwegian value chain for green ammonia and hydrogen.

Further, the Europe Green Ammonia Market is expected to grow at a strong CAGR of approximately 77.2% during the forecast period (2024-2032). Germany is anticipated to emerge as one of the fastest-growing clean hydrogen market due to the various government plans launched by the government of the Germany, to achieve renewable energy targets, climate change mitigation efforts, and decarbonizing industrial processes. Moreover, supportive government policies & regulations, and technological advancements have also fostered the demand for green ammonia in the region.

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Based on technology, the market is divided into alkaline water electrolysis, proton exchange membrane, and solid oxide electrolysis. Among these, the alkaline water electrolysis dominated the green ammonia and is expected to show the same trend in the forecast period. Alkaline water electrolysis is one of the most common types of technologies used to split water into the gases hydrogen and oxygen which uses a potassium hydroxide (KOH) solution and a nickel cathode, and has been the most widely adopted method for producing green ammonia due to its simplicity, maturity, and cost-effectiveness. The considerable supply of KOH and the established supplier network for this chemical decreased production prices and improved scalability. Whilst other electrolysis techniques, which include proton exchange membrane (PEM) and solid oxide electrolysis (SOE), show promise, they face challenges in terms of higher operating temperatures, corrosion resistance, and scaling troubles, which preclude their massive adoption.

Based on end-users, the market is segmented into industrial feedstock, power generation, transportation, and others. Among these, the industrial feedstock segment has dominated the market in 2022 and is expected to dominate during the forecast period. Industrial feedstock, typically derived from natural gas, provides a well-set up supply chain and infrastructure, which makes it less complicated to scale up production and meet the high needs of various industries. Moreover, currently, the main role of ammonia is as the basic feedstock for inorganic fertilizers that currently support food production for around half of the world’s population. Around 70% of ammonia is used to make fertilizers, with the remainder used for a wide range of industrial applications, such as plastics, explosives, and synthetic fibers. Secondly, the price of manufacturing green ammonia from industrial feedstock is typically less as compared to different renewable sources, which includes biomass or solar power, which makes it more economically feasible for mass production. For instance, The EU hydrogen strategy aims to create at least 6 GW of electrolyzer capacity by 2024, enough to produce up to 1 Mt/yr of green hydrogen.

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