Blue Ammonia Market

Global Blue Ammonia Market Size (2024 to 2032)

The Global Blue Ammonia market is predicted to reach USD 21.01 million in 2024 and USD 31.76 million by 2032, growing at a CAGR of 5.3% during the forecast period.

Current Scenario of the Global Blue Ammonia Market

The global blue ammonia market has witnessed substantial growth over the past decade, primarily fueled by the shift toward sustainable energy solutions and the increasing focus on reducing carbon emissions. The adoption of carbon capture technologies in blue ammonia production has positioned it as a cleaner alternative to conventional ammonia, aligning with the global agenda of achieving climate targets.

Key industry players, including Saudi Aramco, Mitsubishi, and CF Industries, have intensified their investments in production facilities, aiming to capitalize on the rising demand for blue ammonia. This demand is particularly driven by industries focused on green energy and hydrogen production. The Middle East, North America, and Asia are emerging as key regions, where favorable government policies and industrial expansion are further propelling market growth.

Strategic collaborations have also played a pivotal role in the market's expansion. Notable developments include partnerships like the joint venture between Saudi Aramco and Japan's IHI Corporation, which have contributed to strengthening the blue ammonia supply chain. Industry forecasts suggest that production will grow at a compound annual growth rate (CAGR) exceeding 6% through 2030, supported by significant investments in new production plants.

Additionally, advancements in carbon capture technologies are driving down production costs and enhancing the competitiveness of blue ammonia. As global demand for cleaner fuels continues to rise, the blue ammonia market is poised for rapid expansion, presenting substantial growth opportunities for key market participants.

MARKET TRENDS

Growing Demand for Low-Carbon Solutions

The increasing demand for low-carbon energy alternatives is significantly propelling the growth of the blue ammonia market. Blue ammonia, developed using carbon capture and storage (CCS) technologies, plays a pivotal role in curbing carbon emissions, particularly within energy-intensive sectors such as fertilizers and chemicals. According to the International Energy Agency (IEA), ammonia production accounts for approximately 2% of global energy-related CO2 emissions, underscoring the importance of adopting blue ammonia. In 2022, prominent players such as CF Industries and Mitsui made strategic investments in blue ammonia projects, aiming to produce millions of tons annually by 2030. This upsurge in demand is further supported by government policies promoting decarbonization initiatives and carbon pricing mechanisms.

Expansion of Blue Ammonia Infrastructure

The development of blue ammonia production infrastructure has seen a considerable rise globally, driven by substantial investments across key regions. In 2021, Saudi Aramco, in collaboration with SABIC, shipped its inaugural blue ammonia cargo to Japan, marking a critical milestone in the global energy transition. Other regions, including the United States and Australia, have also committed to large-scale investments, with projects such as the $4 billion U.S. Gulf Coast blue ammonia facility slated for completion by 2027. The ongoing infrastructure expansion is projected to increase the global blue ammonia supply by over 8% annually through 2030.

Strategic Partnerships and Collaborations

Collaborative efforts between leading companies and government entities have emerged as key contributors to market growth. For example, in 2023, Japan’s Itochu and Mitsubishi joined forces with Saudi Aramco to establish large-scale production and export of blue ammonia to Asia. This trend is fueled by the pressing need to secure sustainable energy supplies while minimizing emissions. Additionally, partnerships across industries such as energy, chemicals, and agriculture are fostering the development of integrated blue ammonia supply chains. These collaborations are expected to drive innovation and boost the market to an estimated $5.7 billion by 2030.

MARKET DRIVERS

Hydrogen Economy Development

The growth of the hydrogen economy serves as a critical driver for the blue ammonia market, as ammonia is a key hydrogen carrier. Blue ammonia is readily storable and transportable, offering an efficient solution for hydrogen distribution. Given hydrogen’s central role in global decarbonization efforts, countries like Japan and South Korea are incorporating blue ammonia into their national hydrogen strategies. According to the Hydrogen Council, the global hydrogen economy could reach $2.5 trillion by 2050, with blue ammonia playing a prominent role. In 2023, Japan received its largest-ever blue ammonia shipment from Saudi Arabia, underscoring its commitment to hydrogen integration.

Policy and Regulatory Support

Government policies and regulations designed to lower carbon emissions are providing a robust foundation for the growth of the blue ammonia market. In the United States, the Inflation Reduction Act (2022) offers tax credits for carbon capture technologies, directly benefiting blue ammonia production. Similarly, the European Union’s Green Deal promotes projects aimed at reducing carbon footprints, bolstering the adoption of blue ammonia across Europe. Meanwhile, Saudi Arabia has committed to producing 3 million tons of blue ammonia annually by 2030, as part of its Vision 2030 sustainability strategy. These policy-driven initiatives create an encouraging environment for investment and expansion within the blue ammonia sector.

Industrial Demand for Decarbonization

Growing industrial demand for decarbonization is fueling the adoption of blue ammonia, particularly in the fertilizer, chemical, and maritime sectors. The fertilizer industry, a significant contributor to global CO2 emissions, is increasingly transitioning toward blue ammonia to meet sustainability goals. Yara International, a global leader in fertilizer production, announced in 2023 its plans to increase blue ammonia usage, aiming for a 30% reduction in emissions. Additionally, the International Maritime Organization’s (IMO) regulations on shipping emissions are driving interest in ammonia as a sustainable marine fuel, offering a promising solution to reduce carbon emissions in the shipping sector, which accounts for nearly 3% of global CO2 emissions.

MARKET RESTRAINTS

High Production Costs

One of the key challenges facing the blue ammonia market is the elevated cost of production, primarily driven by the implementation of carbon capture and storage (CCS) technologies. Although blue ammonia presents a lower-carbon alternative to conventional ammonia, the integration of CCS systems imposes significant financial strain. Industry estimates indicate that the production costs for blue ammonia can be up to 50% higher than those for traditional ammonia. This is attributed to the intricate processes required for capturing, transporting, and storing CO2. In 2023, despite rising demand, multiple projects in North America experienced delays due to escalating costs related to the expansion of CCS infrastructure. Until technological innovations reduce costs or carbon pricing mechanisms further incentivize adoption, high production expenses will continue to hinder widespread market penetration.

Lack of Infrastructure and Logistics

The underdevelopment of infrastructure required for the distribution and storage of blue ammonia poses another significant limitation for the market. While blue ammonia is viewed as an efficient hydrogen carrier, the current infrastructure is insufficient to support large-scale usage, particularly for hydrogen transportation. Key markets such as Japan and South Korea lack the necessary import terminals, pipelines, and storage facilities to manage increased volumes. In 2022, Japan’s Ministry of Energy reported that growing demand for blue ammonia could be hampered by inadequate infrastructure, which remains a bottleneck. Establishing this infrastructure is both capital-intensive and time-consuming, delaying broader utilization.

Environmental Concerns with Carbon Storage

While blue ammonia contributes to carbon emission reduction, concerns persist regarding the long-term environmental impacts of carbon storage. Although CCS technologies are effective, questions remain about the security and reliability of underground storage sites, as well as the potential for leakage. Research from the Global CCS Institute indicates that while CCS can capture up to 90% of CO2 emissions, the long-term safety of storing these emissions remains uncertain. Some critics argue that an over-reliance on CCS may detract from the pursuit of fully renewable solutions, such as green ammonia, which relies on renewable energy sources. In 2023, several environmental groups raised concerns over the emphasis on CCS in blue ammonia projects, advocating for increased investment in fully sustainable alternatives.

MARKET OPPORTUNITIES

Expansion into Emerging Markets

Emerging markets, particularly in Asia and the Middle East, offer a substantial growth avenue for the blue ammonia market. Countries such as India and China are increasingly integrating low-carbon fuels into their energy transition strategies. In 2023, India unveiled plans to significantly scale up its hydrogen economy, with blue ammonia poised to play a vital role as a hydrogen carrier. Similarly, China's growing demand for ammonia as a key feedstock in fertilizers and chemicals is driving the exploration of low-carbon alternatives to meet the country’s emissions reduction targets. According to the International Energy Agency (IEA), Asia is projected to account for over 40% of blue ammonia demand by 2030, spurred by industrial requirements and clean energy initiatives.

Integration with Renewable Energy Projects

The integration of blue ammonia production with renewable energy projects is creating new opportunities for reducing the overall carbon footprint of the ammonia supply chain. In 2023, several projects combined renewable energy sources such as wind and solar with blue ammonia production, using excess renewable power to fuel ammonia plants. For instance, Fortescue Future Industries in Australia announced a $2 billion investment in hybrid renewable-blue ammonia ventures, aiming to bolster the sustainability of ammonia production. This approach has the potential to further reduce carbon intensity and accelerate adoption in regions focused on decarbonization.

Adoption in Maritime and Heavy Industry

The maritime and heavy industrial sectors present significant opportunities for blue ammonia as a low-carbon fuel. The International Maritime Organization (IMO) has set ambitious targets to reduce carbon emissions from global shipping by 50% by 2050, positioning blue ammonia as a leading alternative to conventional marine fuels. In 2023, Maersk, one of the largest shipping companies, conducted trials using ammonia-powered ships, with plans for large-scale deployment if successful. Additionally, heavy industries such as steel and cement are increasingly exploring blue ammonia as an alternative energy source to decarbonize their operations, making it a crucial element in future growth as these sectors transition toward lower carbon outputs.

MARKET CHALLENGES

Technological Limitations in Carbon Capture

One of the primary challenges for the blue ammonia market is the current technological limitations of carbon capture. While carbon capture and storage (CCS) remains a critical component in blue ammonia production, it is still in the early stages of large-scale deployment. A 2022 report from the Global CCS Institute indicated that fewer than 30 commercial CCS projects are operational globally, far below the capacity required to meet global climate goals. Additionally, CCS efficiency rates can vary, impacting blue ammonia's overall carbon reduction potential. In 2023, several blue ammonia projects in the U.S. Gulf Coast experienced delays due to challenges in scaling CCS technologies, highlighting the need for further advancements in this area.

Competition from Green Ammonia

Blue ammonia faces increasing competition from green ammonia, which is produced entirely from renewable energy sources without emitting carbon. The continued decline in the cost of renewable energy further bolsters the appeal of green ammonia. For instance, data from IRENA shows that solar energy costs have decreased by 85% between 2010 and 2021, making green ammonia more cost-competitive over time. Countries such as Australia and Chile have made considerable investments in green ammonia projects, with Chile targeting to become a global hub for green ammonia by 2030. This growing competition from fully renewable alternatives poses a challenge to blue ammonia’s future market share.

Public Perception and Environmental Advocacy

Public perception and environmental advocacy present another challenge to the blue ammonia market. While blue ammonia offers a reduction in carbon emissions compared to traditional ammonia, it still relies on fossil fuels, leading to criticism from environmental groups that see it as a temporary solution. In 2023, several environmental NGOs advocated for a stronger emphasis on green ammonia and fully renewable energy sources, arguing that blue ammonia extends reliance on fossil fuels. This sentiment has made it more challenging for blue ammonia projects to secure public and financial backing, as stakeholders increasingly push for more sustainable alternatives. For example, Equinor’s blue ammonia project in Norway faced protests in 2022, with critics urging a faster shift toward green ammonia.

IMPACT OF COVID-19 ON THE BLUE AMMONIA MARKET

The COVID-19 pandemic had a profound impact on the blue ammonia market, disrupting supply chains, delaying production schedules, and altering demand patterns. In 2020, the global industrial sector experienced a sharp slowdown as widespread lockdowns were enforced. This led to significant interruptions in ammonia production, including blue ammonia, as critical industries such as fertilizers and chemicals faced reduced demand. Furthermore, logistical challenges stemming from restrictions on goods movement and labor shortages exacerbated delays in ammonia transportation and production processes.

Ongoing investments in blue ammonia projects were also adversely affected. Many initiatives were either postponed or scaled down due to financing uncertainties and disruptions across the global energy landscape. For example, key projects in the Middle East and the U.S. encountered construction delays as a result of international travel restrictions, supply chain bottlenecks, and workforce limitations. According to a 2021 report by McKinsey, industrial investments in decarbonization, including blue ammonia, temporarily declined as companies prioritized managing the immediate economic consequences of the pandemic.

In the post-pandemic period, the blue ammonia market has witnessed a resurgence, with renewed investments and strategic developments. The global momentum towards decarbonization has intensified, prompting countries and industries to integrate low-carbon technologies into their recovery plans. As industries, particularly in agriculture and energy, resumed full-scale operations, demand for blue ammonia has rebounded. Additionally, governments have introduced stimulus measures aimed at promoting clean energy projects, including blue ammonia. In 2022, for instance, the U.S. government increased funding for carbon capture initiatives as part of its infrastructure bill, providing a boost to the blue ammonia sector.

While the pandemic temporarily hindered market growth, the subsequent recovery has created favorable conditions for blue ammonia, solidifying its role as a key component in the global energy transition.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Blue Ammonia Market By Technology

Steam Methane Reforming (SMR)

Largest Segment: Steam Methane Reforming (SMR) continues to dominate blue ammonia production, accounting for over 65% of the market share. Its established technology and cost efficiency in producing both ammonia and hydrogen make it widely used across industries. SMR involves reforming natural gas, with integrated carbon capture systems to reduce emissions. Key drivers include the technology’s maturity and availability in industrial applications. According to reports from the International Energy Agency (IEA), SMR is expected to maintain its lead as more countries adopt blue ammonia to decarbonize industrial processes, particularly in fertilizers and chemicals. Major projects, such as those on the U.S. Gulf Coast, are focused on enhancing carbon capture efficiency in SMR systems to align with sustainability goals. The segment is projected to grow steadily at a CAGR of 4% through 2030, driven by the global transition to decarbonization and increasing adoption of carbon capture technology.

Fastest Growing Segment: Autothermal Reforming (ATR)

Autothermal Reforming (ATR) is the fastest-growing technology segment in the blue ammonia market, anticipated to expand at a CAGR of 6.5% by 2030. ATR technology reformulates natural gas into ammonia using oxygen, steam, and a catalyst while capturing CO2 more efficiently than SMR. This higher efficiency makes ATR increasingly preferred in regions focusing on deep decarbonization, particularly in Europe. The technology's superior energy efficiency and its potential to integrate with renewable energy sources have fueled its adoption. In 2023, increased investment in ATR technologies across Europe was prompted by stringent carbon emission regulations and growing carbon capture capacity.

Global Blue Ammonia Market By Application

Fertilizer

Largest Segment: The fertilizer sector represents the largest application of blue ammonia, constituting over 55% of the market. Ammonia, particularly for nitrogen-based fertilizers, is vital as a feedstock in agriculture. The demand for low-carbon ammonia is growing as the agricultural sector works to reduce its carbon footprint. In 2023, Yara International, one of the global leaders in fertilizer production, announced its plans to integrate blue ammonia into its supply chain to achieve a 30% reduction in CO2 emissions by 2030. This segment is expected to maintain a stable CAGR of 4%, as global population growth continues to drive demand for agricultural output and sustainable fertilizers.

Fastest Growing Segment: Maritime Transport

Maritime transport is the fastest-growing application of blue ammonia, with an expected CAGR of 8% by 2030. The International Maritime Organization (IMO) has set ambitious goals to reduce shipping emissions by 50% by 2050, positioning blue ammonia as a promising zero-carbon fuel for ships. In 2023, major shipping companies, including Maersk, initiated trials of ammonia-powered vessels, signaling a shift toward low-emission maritime fuels. This segment’s growth is further bolstered by rising investments in port infrastructure to facilitate ammonia as a fuel, especially across key regions like Asia and Europe.

Power Generation

Largest Segment: Power generation holds a notable share in the blue ammonia market, contributing around 15% to the overall market. As utilities aim to decarbonize their energy portfolios, blue ammonia is increasingly being used as a low-carbon fuel in gas turbines and co-fired power plants. In 2022, Japan began trials with blue ammonia in its coal-fired power plants to advance its net-zero carbon objectives by 2050. The demand for cleaner fuel sources without compromising reliability is a significant growth driver for this segment, with an expected CAGR of 5% through 2030, largely propelled by policy frameworks supporting clean energy transitions.

Fastest Growing Segment: Hydrogen Carrier

The use of blue ammonia as a hydrogen carrier represents the fastest-growing segment within power generation, with a projected CAGR of 9% by 2030. Ammonia's ability to be easily transported and decomposed to release hydrogen positions it as an efficient medium for hydrogen transport in the energy sector. The segment’s expansion is driven by rising investments in the hydrogen economy, particularly in regions like Japan, South Korea, and Europe. In 2023, Japanese companies successfully imported blue ammonia from Saudi Arabia for hydrogen transport, marking a significant achievement in cross-border hydrogen logistics.

Other Current Uses

Largest Segment: Refrigeration

In the category of "other current uses," refrigeration stands as the largest segment, accounting for nearly 8% of the blue ammonia market. Ammonia has long been a preferred refrigerant for large-scale industrial cooling systems due to its high efficiency and lower environmental impact compared to traditional refrigerants. With increasing regulatory pressure on hydrofluorocarbons (HFCs), blue ammonia has gained traction as an eco-friendly alternative. In 2022, Europe took the lead in implementing stricter HFC regulations, driving the adoption of ammonia-based refrigeration systems as a more sustainable option.

Fastest Growing Segment: Pharmaceuticals

The pharmaceuticals sector is the fastest-growing segment within "other current uses," with a projected CAGR of 7% by 2030. Ammonia is utilized in pharmaceutical production for pH control, and the industry’s focus on sustainable processes has led to increased exploration of low-carbon ammonia sources. In 2023, several pharmaceutical companies in North America initiated transitions to blue ammonia in their manufacturing processes to meet sustainability objectives. This sector’s growth is driven by rising investments in green chemistry and tightening regulatory standards aimed at reducing the environmental impact of pharmaceutical production.

REGIONAL ANALYSIS

North America: "Pioneering Decarbonization with Blue Ammonia"

North America holds around 30% of the global blue ammonia market, with a projected CAGR of 6% through 2030.

North America is a leader in blue ammonia production, driven by its abundant natural gas resources and advanced carbon capture technologies. The U.S. Gulf Coast is home to numerous large-scale blue ammonia projects, including a $4 billion facility under development by CF Industries, expected to produce 3 million tons annually by 2027. This region benefits from strong government incentives such as the U.S. Inflation Reduction Act (2022), which includes tax credits for carbon capture and low-carbon technologies. Canada is also making strides, with new projects announced in Alberta, aiming to capture carbon emissions while meeting increasing demand from agriculture and power sectors.

In 2023, North America saw a surge in demand from industries such as fertilizers and maritime transport. The U.S. has also started exporting blue ammonia to regions like Japan, marking its growing role as a global supplier. Moreover, public and private sector investments are accelerating, with carbon capture projects expanding rapidly in the U.S. and Canada. This positions North America as a key player in the blue ammonia market's future.

Europe: "Leading the Charge for a Carbon-Free Future"

Europe blue ammonia market is expected to grow at a CAGR of 7% by 2030.

Europe is at the forefront of sustainability initiatives, which is driving rapid growth in the blue ammonia market. The European Union’s Green Deal and its ambitious decarbonization targets have spurred investment in clean energy technologies, including blue ammonia. Europe’s focus on achieving net-zero emissions by 2050 is boosting blue ammonia adoption, especially in maritime and industrial sectors. Countries like the Netherlands and Norway are key players, with large-scale projects underway. In 2023, Norway’s Equinor launched a major blue ammonia plant aimed at reducing emissions while exporting to other European countries. European ports, such as Rotterdam, are rapidly expanding their infrastructure to handle ammonia shipments, positioning themselves as hubs for blue ammonia imports and exports. Germany and France are also ramping up investments in ammonia-fueled power generation to meet their decarbonization goals. Additionally, Europe's push to reduce its reliance on Russian natural gas has accelerated the development of domestic blue ammonia projects as an alternative energy source.

Asia-Pacific: "Asia's Green Energy Revolution with Blue Ammonia"

Asia-Pacific is experiencing rapid growth in the blue ammonia sector, fueled by its increasing demand for low-carbon energy solutions. Japan, South Korea, and China are leading the region’s adoption, with a focus on integrating blue ammonia into their hydrogen economy strategies. In 2022, Japan received its largest shipment of blue ammonia from Saudi Arabia, underscoring its commitment to reducing carbon emissions and enhancing energy security. South Korea is also making significant investments, with several blue ammonia projects aimed at decarbonizing power plants and maritime transport.

Japan is at the forefront, with companies like Mitsubishi and Itochu entering large-scale joint ventures to develop blue ammonia supply chains. China is expanding its blue ammonia production capacity to meet its growing industrial demand, particularly in fertilizers and chemicals. In 2023, India announced new policies to support the hydrogen economy, with blue ammonia expected to play a key role. The region's overall growth is being driven by government incentives, strategic partnerships, and infrastructure investments to handle ammonia imports and production.

Middle East & Africa: "The New Frontier for Blue Ammonia Innovation"

The Middle East, particularly Saudi Arabia and the UAE, is emerging as a key player in the global blue ammonia market. The region’s vast natural gas reserves and commitment to sustainability goals are driving significant investments in blue ammonia production. Saudi Aramco has made substantial progress in developing blue ammonia infrastructure, with the first shipment of blue ammonia sent to Japan in 2021. The Middle East aims to become a global leader in blue ammonia exports, leveraging its geographic location and energy expertise.

In 2023, Saudi Arabia unveiled plans to build one of the world’s largest blue ammonia facilities as part of its Vision 2030 strategy. The UAE is following suit, with ADNOC exploring blue ammonia projects in partnership with global energy companies. Africa, though in its early stages, has shown interest, with Egypt looking to become a regional hub for blue ammonia production due to its vast natural gas reserves and strategic location for exports to Europe. Overall, the Middle East and Africa are poised to capitalize on growing demand from Asia and Europe.

Latin America: "Sustainability Meets Growth in Latin America’s Blue Ammonia Sector"

Latin America is gradually expanding its blue ammonia footprint, driven by its rich natural gas resources and increasing focus on sustainable energy solutions. Brazil and Argentina are leading this effort, with several initiatives to integrate carbon capture technology into ammonia production. These efforts align with the region's broader strategy to reduce emissions and support agricultural industries that rely heavily on ammonia-based fertilizers.

Brazil’s National Hydrogen Strategy, launched in 2022, prioritizes both green and blue ammonia as key components of its energy transition. Similarly, Argentina has begun exploring blue ammonia production in its gas-rich regions, with potential export markets in North America and Europe. In 2023, partnerships between Latin American countries and European companies were announced to jointly develop blue ammonia supply chains. The region’s growing agricultural sector, which accounts for a large portion of ammonia demand, is driving the shift toward low-carbon alternatives to meet sustainability goals.

COMPETITIVE LANDSCAPE AND KEY PLAYERS IN THE MARKET

The blue ammonia market is witnessing heightened competition as key players worldwide continue to increase production capacity, invest in technological advancements, and forge strategic partnerships. Market leaders such as CF Industries, Saudi Aramco, and Yara International dominate the sector, leveraging their extensive experience in ammonia production and carbon capture technologies. These industry giants are focused on expanding blue ammonia facilities to address the surging global demand, particularly from high-impact sectors such as fertilizers, maritime transport, and energy.

The competitive landscape is further intensified by the entry of energy firms, including oil and gas titans like Royal Dutch Shell, Equinor, and TotalEnergies. These companies are diversifying their portfolios by adopting low-carbon solutions, positioning blue ammonia as a critical element in their broader sustainability and transition strategies. Simultaneously, Asian conglomerates like Mitsubishi and Itochu are solidifying their presence in the market through joint ventures, particularly targeting growing demand in hydrogen economies such as Japan and South Korea.

Regionally, the Middle East is emerging as a pivotal player, aiming to become a global export hub. This shift is propelled by significant investments from companies like ADNOC and SABIC. In contrast, North American and European companies are emphasizing innovation in carbon capture technology and ammonia infrastructure, seeking to fortify their competitive positions. As a result, the market is evolving into a dynamic and rapidly shifting competitive landscape.

List of key participants in the Global Air Fryer market include

• CF Industries Holdings Inc.
• Saudi Aramco
• Yara International
• Mitsubishi Corporation
• Equinor ASA
• Itochu Corporation
• Air Products and Chemicals, Inc.
• Royal Dutch Shell
• ADNOC (Abu Dhabi National Oil Company)
• Maersk
• Linde PLC
• SABIC (Saudi Basic Industries Corporation)
• Woodside Energy
• TotalEnergies
• Sumitomo Corporation

RECENT HAPPENINGS MARKET

• In October 2023, CF Industries announced a $4 billion investment to develop a blue ammonia production facility on the U.S. Gulf Coast, aiming to produce 3 million tons annually by 2027, positioning the company as a leading low-carbon ammonia supplier.
• In August 2023, Saudi Aramco expanded its partnership with SABIC to enhance its blue ammonia export capabilities, sending large shipments to Japan. This move is part of its strategy to dominate the global blue ammonia export market.
• In September 2023, Yara International signed an agreement with Ørsted to produce blue ammonia using renewable energy in Norway, aiming to integrate carbon capture with wind power to meet growing demand for sustainable fertilizers.
• In January 2024, Mitsubishi Corporation partnered with the Japanese government and Saudi Aramco to establish a joint venture for blue ammonia production, securing long-term energy supplies for Japan's hydrogen economy.
• In February 2024, Equinor initiated the development of a new blue ammonia facility in Norway, investing $1.5 billion to capture 95% of its CO2 emissions, advancing its decarbonization strategy.
• In November 2023, ADNOC began construction on its new blue ammonia plant in Abu Dhabi, aiming for completion by 2026. This project aligns with the UAE’s Vision 2030 to lead in clean energy exports.
• In March 2023, Maersk launched its first trial of ammonia-powered vessels, collaborating with global ports to assess the viability of blue ammonia as a sustainable maritime fuel.
• In July 2023, Itochu Corporation formed a strategic alliance with Australia’s Fortescue Future Industries to develop blue ammonia infrastructure, focusing on supplying the Asia-Pacific market.
• In December 2023, Air Products and Chemicals Inc. expanded its partnership with ExxonMobil to scale up blue ammonia production in Texas, targeting both domestic and international markets.
• In June 2023, Royal Dutch Shell invested $2 billion in blue ammonia projects across Europe, with a focus on integrating carbon capture technology to meet the region’s strict emissions targets.

DETAILED SEGMENTATION OF THE GLOBAL BLUE AMMONIA MARKET INCLUDED IN THIS REPORT

This research report on the global blue ammonia market has been segmented and sub-segmented based on manufacturing process, end-user industry, and region.

By Technology

• Steam Methane Reforming
• Autothermal Reforming

By Application

• Fertilizer
• Power Generation
• Hydrogen Carrier
• Refrigeration
• Pharmaceuticals

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa