Global Ammonia Fuel Market to Grow at a CAGR of 14.35% by 2030

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Global Ammonia Fuel Market to Grow at a CAGR of
14.35 by 2030
According to ChemAnalyst report, Global Ammonia
Fuel Market Plant Capacity, Production,
Operating Efficiency, Demand Supply, End Use,
Distribution Channel, Region, Competition,
Trade, Customer Price Intelligence Market
Analysis, 2015-2030, global Ammonia fuel market
has shown monumental growth in historic period
and is anticipated to achieve a healthy CAGR of
14.35 during the forecast period. Due to
increasing demand in search for the replacement
of fossil fuels with biomass feedstock that can
be further used in the production of Ammonia,
which can potentially be a best commodity for
hydrogen economy or a key fuel in the future,
several factors have been brought into light.
Ammonia fuel is highly functional in
Agricultural, pharmaceutical, marine, dye,
textile, plastic and other industries. Get more
information Ammonia Fuel Market to Grow at a
CAGR of 14.35 by 2030 Ammonia (NH3) is a
colourless inorganic compound composed of
Nitrogen and Hydrogen with a pungent smell. It
is a valuable source of NO2 which is important
for the plant growth. Ammonia is one of the most
important chemicals that is commercialized on a
large industrial scale in the world. The industry
possesses a well-defined infrastructure for
production, handling and distribution of fuels.
Ammonia fuel is also known as green ammonia. It
is produced via renewable sources of energy and
thus is produced with zero carbon emissions. It
is a clean fuel
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that can be used in internal combustion engines
as both neat and blended with petroleum fuel.
Ammonia fuel can be produced via three
technologies namely alkaline water electrolysis,
proton exchange membrane, and solid oxide
electrolysis. Green hydrogen that is produced
through this route is further synthesised to
ammonia fuel, by the process of solid oxide
electrolysis technology. Methane, water and air
is most commonly used to produce green ammonia
using steam methane reforming (SMR) and the
Haber process. About 90 of carbon dioxide is
mass produced during the process while consuming
a lot of energy. However, use of low carbon
hydrogen for the production of green ammonia is
likely to reduce the Co2 emissions in the
upcoming years. Ammonia fuel has numerous
applications in power generation, transportation,
agricultural and industrial feedstock. Ammonia
is widely used by various end use industries
including wastewater treatment, textile,
chemical, leather, paper, cosmetic,
pharmaceutical and others. Ammonia also finds its
demand in the manufacturing of pesticides, dyes,
refringent gas, engine oils, plastics and
fabrics. Fertilizer application in agriculture
industry is the major dominating segment of
global ammonia market. Carbon and steel industry
prefers Ammonia over other fuels as it does not
degrade steel and aluminium even under adverse
environmental conditions. Expanding investments
in the clean energy and green fuel plans coupled
with growing demand of Ammonia as a maritime fuel
is expected to drive the demand of Ammonia fuel
market during the forecast period. Request
Sample Ammonia Fuel Market Size Companies are
increasing their investments in green Ammonia
fuel for expanding green energy projects to
produce net-zero Co2 emission on large which will
boost the Ammonia Fuel market worldwide.
However, high capital expenditure and initial
costs related with ammonia fuel and less
awareness about ammonia as a fuel is expected to
hinder the demand growth during the forecast
period. Along with the increasing demand of
green hydrogen and various government initiatives
including the South Korea government initiative
to have three hydrogen powered cities by 2022 is
also expected to provide opportunity for demand
growth of ammonia fuel as green hydrogen is the
raw material for ammonia fuel.
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• The production of Green Hydrogen as a key fuel
  for future can further bolster the Global
  ammonia market growth due to following reasons
• The ability to get stored in the liquid form in
  large quantities which will help the
  manufacturer and distributer to transport
  chemical around the world through tanks and
  ships.
• Ammonia can be exclusively used to produce
  electricity by a fuel cell by giving nitrogen
  and water as only by-products and becoming a
  zero-carbon fuel. Marine industry is all set to
  adapt ammonia as a main fuel by replacing other
  fuel oils.
• Ammonia can be used as a Hydrogen carrier as it
  is cheaper to store and transport and can be
  transformed to Hydrogen gas when required.
• Ammonia is considered as a potent neurotoxin
  which can alter the functioning of Central
  Nervous System (CNS) and can cause neurological
  disorders. The long-term exposure of ammonia can
  cause damage to lungs and eyes. It can accumulate
  in the bloodstream resulting in blockage,
  coughing and irritation in throat.
• Due to the onset of COVID-19, countries caused
  nationwide lockdowns which had a huge impact on
  several industries and its economies. Renewable
  energy was among the affected industries during
  the pandemic. This had an impact on the demand
  of ammonia fuel for the first half of 2020.
  Therefore, the demand for ammonia fuel fell
  during the coronavirus pandemic due to halting of
  plants that are being set up.
• Region wise, Europe region holds the major share
  of global demand for ammonia fuel due to early
  adoption and many technological advancements.
  Increasing demand of green fuels is also a
  factor driving demand growth in Europe during the
  forecast period.
• According to ChemAnalyst report, Global Ammonia
  Fuel Market Plant Capacity, Production,
  Operating Efficiency, Demand Supply,
  Application, End Use, Distribution Channel,
  Region, Competition, Trade, Customer Price
  Intelligence Market Analysis, 2015-2030, some
  of the major players operating in global

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Ammonia Fuel market are Siemens, Haldor Topsoe,
ITM Power, Nel Hydrogen Solutions, MAN Energy
Solutions, Yara International and Others. Being
linked to the downstream application such as
Agriculture, pharmaceutical and chemical etc,
the global Ammonia Fuel Industry has shown a
tremendous growth along with the growing
population and changing in the consumer
preference. It is projected that India is going
to become the world's fifth largest consumer
market by 2025. In addition, growing per capita
income worldwide poised a stronger outlook to
the countrys acetone demand. The nationwide
lockdown affected the supply chain logistics and
caused immediate shortage of raw materials hence
increased the prices of Ammonia fuel. Meanwhile,
China serves as the key growth region as well
with sufficiently installed capacities. With new
competitors emerging across the Asian acetone
market, it is extremely important to keep an eye
which region will grab the biggest market share
in the upcoming years. said Mr. Karan Chechi,
Research Director with TechSci Research, a
research- based management consulting firm
promoting ChemAnalyst worldwide. About
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