Green Ammonia Market worth $6.2 billion by 2030

 Green Ammonia Market worth $6.2 billion by 2030

The global Green Ammonia Market is estimated to grow at a CAGR 66.0% between 2024 to 2030 to reach a market size of USD 6.2 billion by 2030, from an estimated USD 0.3 billion in 2024. Green ammonia may be produced using renewable energy sources such as wind and solar power. This integration promotes the use of excess renewable energy, which would otherwise be limited, and converts it into a reliable and transportable source of energy. This ability to store and transmit renewable energy minimizes intermittency while increasing system stability. The chemical, fertilizer, and industrial industries are under growing pressure to adopt sustainable practices and reduce their carbon footprint. Green ammonia is a possible option for these companies to produce green chemicals and fertilizers that fulfill sustainability and regulatory requirements.

The development of a global hydrogen economy is driving the demand for green ammonia. As an efficient hydrogen carrier, green ammonia is crucial for transporting hydrogen over long distances and enabling its use in various applications, including power generation, transportation, and industrial processes.