Dublin, Aug. 08, 2023 (GLOBE NEWSWIRE) — The “Europe Green Ammonia Market – Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Production Method, By End Use, By Region and Competition” report has been added to ResearchAndMarkets.com’s offering.
Europe Green Ammonia market is anticipated to grow appreciably to 2028
The European ammonia sector plays a crucial role in ensuring food security by utilizing nearly 10 billion cubic meters of natural gas annually as a feedstock to produce fertilizers.
However, with the growing emphasis on sustainability and reducing carbon emissions, the emergence of green ammonia presents a transformative solution for the energy and agriculture industries. Green ammonia, produced through electrolysis using renewable electricity, offers a clean and efficient energy source that aligns with the European Union’s ambitious targets for increased adoption.
Unlike conventional ammonia, green ammonia is free from carbon dioxide emissions, making it an eco-friendly fuel for transportation and electricity generation. Additionally, its role as a nitrogen-rich fertilizer offers a greener alternative to conventional fertilizers, benefiting agricultural practices while minimizing environmental impact.
With easy transportation and storage, the green ammonia market is set to flourish in the coming years, shaping a sustainable future for Europe’s energy and agriculture sectors.
Growing technological Efforts to lessen Climate Change Effects are Market Driving factors
Climate change is one of the most significant challenges facing the world today, and Europe has been a leader in addressing this challenge by setting ambitious climate targets and promoting the development of clean energy technologies such as green ammonia. Green ammonia is used in different technology for the processing or production of fuels and products.
During production, green ammonia emits no carbon dioxide, unlike conventional ammonia production, which is responsible for significant greenhouse gas emissions. By replacing conventional ammonia with green ammonia, Europe can significantly reduce its carbon footprint and help combat climate change.
Hence, European Union has also recognized the potential of green ammonia and has set ambitious targets to increase its production and use. The European Union’s Green Deal aims to make Europe climate-neutral by 2050 and to reduce greenhouse gas emissions by at least 55% by 2030.
To achieve these goals, the European Union has placed a target of producing 10 million tons of renewable hydrogen by 2030, which will be used to produce green ammonia in Europe. Therefore, the Europe Green Ammonia Market is going to hold an impressive market share to fulfill their sustainability goals.
Growing Demand for Renewable Energy Based Products is Driving the Market Growth
Renewable energy and green ammonia are closely linked in Europe, as the production of green ammonia requires renewable energy sources such as wind and solar power.
The development of renewable energy has played a critical role in making green ammonia production more feasible and cost-effective. For the production of green ammonia, wind power is one of the most common sources of renewable energy. Wind turbines can be used to generate electricity to power the electrolysis process used to produce green ammonia.
In Europe, countries such as Denmark, Germany, and the Netherlands are leading the way in wind energy production, making them well-positioned to produce green ammonia using wind power. Solar power is another key source of renewable energy used in green ammonia production.
Solar panels can be used to generate electricity to power the electrolysis process, and concentrated solar power (CSP) can be used to generate high-temperature heat for the Haber-Bosch process used to produce ammonia. Europe has a significant solar energy potential, particularly in Southern Europe, which could be harnessed for green ammonia production.
Rising Sustainable agriculture and Products are Driving the Market Demand
Sustainable agriculture and the green ammonia market are closely connected, as green ammonia can be used as a sustainable fertilizer to support sustainable agriculture practices.
Sustainable agriculture aims to reduce the environmental impact of agricultural practices while promoting the long-term viability of the agricultural sector. Conventional fertilizers used in agriculture are often produced using fossil fuels, which results in significant greenhouse gas emissions.
Green ammonia, on the other hand, is produced using renewable energy and waste streams such as carbon dioxide, resulting in significantly lower greenhouse gas emissions. By using green ammonia as a fertilizer, sustainable agriculture practices can reduce the carbon footprint of the agricultural sector. Furthermore, sustainable agriculture practices aim to maintain and improve soil health, which is critical for crop growth and long-term agricultural sustainability.
Green ammonia can contribute to soil health by providing essential nutrients such as nitrogen, which is essential for plant growth. By using green ammonia as a fertilizer, sustainable agriculture practices can improve soil health and promote the long-term viability of agricultural production.
Apart from these, green ammonia can be produced using renewable energy and waste streams, creating a closed-loop system that reduces waste and promotes resource efficiency. Sustainable agriculture practices also aim to promote closed-loop systems by reducing waste and promoting resource efficiency.
By using green ammonia as a fertilizer, sustainable agriculture practices can contribute to the development of a circular economy in which resources are used more efficiently. Hence, the green ammonia market and sustainable agriculture practices are interconnected, with the growth of one supporting the growth of the other.
By promoting the development of sustainable agriculture practices and the green ammonia market, Europe can play a leading role in promoting sustainable development and addressing the global challenges of climate change and resource depletion. Therefore, the Europe Green Ammonia Market is going to hold an impressive market share in the coming period to fulfill the demand for sustainable fertilizer and products by farmers.
Favorable Government Efforts are Driving the Demand for Europe Green Ammonia Market
The EU’s plan for green ammonia includes several initiatives, such as they will support the development of renewable energy sources, such as wind and solar power, which will be used to power the electrolysis process. Second, it will provide funding for research and development to improve efficiency and reduce the costs of green ammonia production.
Moreover, European Union will promote the use of green ammonia in the agriculture and transport sectors. Apart from these, the European Union is committed to making green ammonia a key component of its energy and climate policies. By investing in research and development and supporting the development of renewable energy sources, the EU is paving the way for a cleaner, more sustainable future.
As green ammonia technology continues to evolve and improve, it is likely that it will play an increasingly important role in meeting Europe’s energy and climate goals as the strong will of the governments is expected to increase the production and demand of green ammonia in Europe for the forecast period and in the future.
Recent Developments
- In February 2023, CEPSA EP SA and Fertiberia SA formed a tactical alliance to boost green hydrogen production and decarbonize the industry in Huelva. This collaboration will help Fertiberia SA to accelerate the growth of its green ammonia production.
- The consortium of companies led by ThyssenKrupp is planning to build a new plant in the city of Duisburg, Germany, and is expected to begin operations in 2025. The plant will have a production capacity of 1,000 tons of green ammonia per day, making it one of the largest green ammonia plants in Europe. The green ammonia will be produced in the plant using renewable energy sources, such as wind and solar power, and will emit significantly lower greenhouse gas emissions compared to traditional ammonia production methods.
Competitive landscape
Company Profiles: Detailed analysis of the major companies in Europe Green Ammonia market.
- Yara international ASA
- Haldor Topsoe Holding A/S
- Thyssenkrup AG
- Siemens Energy AG
- BASF SE
- ACME Group
- GKN Ammonia Ltd.
- Fertiglobe plc
- NEL Hydrogen AS
- Green Hydrogen Systems A/S
Report Scope:
Europe Green Ammonia Market, By Production Method:
- Alkaline Water Electrolysis
- Proton Exchange Membrane
- Solid Oxide Electrolysis
Europe Green Ammonia Market, By End Use:
- Power Generation
- Transportation
- Fertilizers
- Others
Europe Green Ammonia Market, By Country:
- France
- Germany
- United Kingdom
- Italy
- Spain
- Finland
- Greece
- Portugal
- Bulgaria
- Netherland
For more information about this report visit https://www.researchandmarkets.com/r/pg4ezv
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