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.
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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 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. 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 ammon |