The Business Research Company’s report on the Amusement Parks Global Market Report 2025 Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the blue ammonia market further?
The increasing demand for low-carbon fuels is expected to propel the growth of the blue ammonia market going forward. Low-carbon fuels are energy sources that produce a minimal amount of carbon dioxide emissions compared to traditional fossil fuels, thus contributing less to global warming and climate change. They are in demand due to the increasing need to reduce greenhouse gas emissions and mitigate climate change impacts. Blue ammonia is produced by converting natural gas into hydrogen and capturing the emitted carbon dioxide, thus useful as a low-carbon fuel. For instance, in January 2024, according to the International Energy Agency, a France-based intergovernmental agency, Biofuel demand is expected to grow by 38 billion liters between 2023 and 2028, marking a nearly 30% increase compared to the previous five years. Overall, total biofuel demand is projected to rise by 23%, reaching 200 billion liters by 2028. Therefore, the increasing demand for low-carbon fuels is driving the growth of the blue ammonia market.
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What are the key factors influencing the forecasted market size of the blue ammonia industry?
The blue ammonia market size has grown strongly in recent years. It will grow from $13.95 billion in 2024 to $14.93 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increased use of low-emission fuel, the increase in funding and incentives, scope of sustainable energy future, increasing moves towards a hydrogen economy, its potential to cut greenhouse gas emissions.
The blue ammonia market size is expected to see strong growth in the next few years. It will grow to $18.55 billion in 2029 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing worldwide emphasis on hydrogen as a clean fuel option, growing demand for blue ammonia to generate power, growing concerns about climate change, growing initiatives aimed at bolstering the hydrogen-based economy, the imperative to reduce greenhouse gas emissions. Major trends in the forecast period include increased technology of steam methane reforming (SMR), increased usage of advanced technologies, establishing technological innovations, increased availability of carbon capture technology, rapid technological advancements.
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Who are the leading competitors in the blue ammonia market?
Major companies operating in the blue ammonia market are Saudi Arabian Oil Group, ExxonMobil Corporation, Shell PLC, Uniper SE, Koch Industries Inc., ITOCHU Corporation, BASF SE, Siemens Energy AG, Saudi Basic Industries Corporation, Thyssenkrupp AG, Nutrien Ltd., Linde PLC, Mitsubishi Heavy Industries Ltd., Air Liquide S.A., Yara International ASA, Ma’aden, CF Industries Holdings Inc., TechnipFMC PLC, EuroChem Group AG, Sumitomo Mitsui Construction Co. Ltd., Haldor Topsoe A/S, Engie S.A., Qatar Fertiliser Company (P.S.C.), ADNOC Group, Casale S.A.
Which emerging trends are set to transform the blue ammonia market landscape?
Major companies operating in the blue ammonia market are developing innovative solution such as blue and green ammonia project to sustain their position in the market. These project revolutionizes ammonia production by expanding capacity by boosting efficiency and environmental sustainability. For instance, in October 2022, KBR Inc., a US-based engineering company, launched a massive 10,000 (metric tons per day) MTPD blue and green ammonia solution that incorporates sophisticated digital technologies to create dependable, flexible, and scalable solutions for meeting clean ammonia and hydrogen demands for the energy transition. This unique solution highlights the increased interest in using ammonia as a fuel source and integrating advanced digital technologies to improve energy efficiency and sustainability.
How do different geographies compare in terms of market share and growth potential in the blue ammonia market?
North America was the largest region in the blue ammonia market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blue ammonia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the blue ammonia market are experiencing the fastest growth?
The blue ammonia market covered in this report is segmented –
1) By Technology: Steam Methane Reforming, Autothermal Reforming, Gas Partial Oxidation, Other Technologies
2) By Distribution Channel: Distribution Or Wholesalers, E-Commerce, Direct Sale
3) By Application: Power Generation, Industrial Feedstock, Agriculture, Pharmaceuticals, Transportation, Chemical And Petrochemicals, Other Applications
Subsegments:
1) By Steam Methane Reforming: Conventional SMR, SMR With Carbon Capture And Storage (CCS)
2) By Autothermal Reforming: ATR With Carbon Capture And Storage (CCS), ATR Without CCS
3) By Gas Partial Oxidation: GPO With Carbon Capture And Storage (CCS), GPO Without CCS
4) By Other Technologies: Biomass Gasification, Electrolysis
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How is the blue ammonia market defined?
Blue ammonia refers to ammonia produced by converting natural gas into hydrogen and carbon dioxide, with the CO2 being captured, stored, or utilized to reduce emissions. It serves as a cleaner energy source for power generation and industrial processes and as a potential medium for hydrogen transport and storage, supporting the transition to low-carbon energy systems.
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