APAC Green Ammonia Market: Current Analysis and Forecast (2024-2032)

Report Description

APAC Green Ammonia Size & Forecast

The APAC Green Ammonia was valued at USD 14.9 Million and is expected to grow at a strong CAGR of around 80.9% during the forecast period (2024-2032). Owing to rising investment in renewable energy.

APAC Green Ammonia Analysis

APAC is one of the major regions in the Green Ammonia market with a CAGR of 80.9% from 2024-32F. This is because of the increasing awareness among people about sustainable living and additionally, government initiatives are driving the Green Ammonia market in the region. Under the Paris Agreement (signed in 2015 by all countries in the region), they must reduce their greenhouse emissions to limit the global temperature increase to no more than 2 degrees Celsius and pursue efforts to limit the increase to 1.5 degrees Celsius. Renewable Energy adoption is necessary to meet these targets and most countries in the region example, Japan has the basic Hydrogen Strategy to have 200,000 FCVs by 2025 and 800,000 FCVs by 2030 and thus expand its number of Hydrogen stations to 320 by 2025.

APAC Green Ammonia Trends

This section discusses the key market trends that are influencing the various segments of APAC Green Ammonia as identified by our team of research experts.

Growing consumption of fertilizers

The global population is growing rapidly; therefore, there is a need to increase agricultural production to fulfill the food requirements of the growing population. The use of chemical fertilizers to enhance agricultural production has become a common practice across the globe. Furthermore, demand for organic and environment-friendly fertilizers is also rising. Organic fertilizers are formulated with natural plant residues and waste, animal manures & excreta, micro-organisms, and botanical extracts to enhance agricultural production. Therefore, factors such as the growing need to increase agricultural production and increasing awareness about the harmful effects of chemical inputs and benefits of organic fertilizers augment the consumption of various environment-friendly fertilizers.

China is Expected to Grow with Significant CAGR During Forecast Period

China being the most populated country in the world is making a significant shift away from fossil fuels and is focusing on adopting renewable sources for its energy needs. In the UN General Assembly Meeting 2020, Chinese President Xi Jinping announced that China would commit to achieving Carbon neutrality before 2060. In addition, China has already initiated programs to adopt clean hydrogen technologies. For instance, according to the new Energy Vehicle Industry Plan (2021-35), China’s States Council is planning to use hydrogen for heavy vehicle transportation and is developing infrastructure for this expansion. The new draft of the Energy Law released by China last year included Hydrogen as an energy source for the first time. This is an important step in the process of adopting hydrogen as an energy source for future developments in China. Also, China is the world’s largest ammonia producer, however, green ammonia production is still very much unexplored in the country. Therefore, China provides the most opportunity for key stakeholders in the green ammonia industry.

APAC Green Ammonia Industry Overview

The APAC Green Ammonia is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Siemens, Thyssenkrupp, Nel Hydrogen, Green Hydrogen Systems, MAN Energy Solutions, Uniper, BASF, Enapter, ENGIE, Hiringa Energy, BASF, Enaex SA, and JGC Holding Corporation.

APAC Green Ammonia News

• Feb 2023: Siemens Energy and Brooge Energy plans to collaborate on the development of green hydrogen and ammonia project in Abu Dhabi.
• November 2022: The consortium of the Methanol-to-SAF project “M2SAF” sees five companies (which includes BASF) from the entire value chain joining forces to develop a novel process technology to facilitate the selective production of SAF that can be used as a drop-in fuel up to 100%. This production process should generate only minimal additional CO2 emissions and be easy to integrate into existing production plants. The starting point of the process is sustainably produced methanol from CO2 and green hydrogen.

APAC Green Ammonia Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The APAC Green Ammonia market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the APAC Green Ammonia Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the APAC Green Ammonia market were the three major steps undertaken to create and analyze the adoption of APAC Green Ammonia in major Countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the APAC Green Ammonia market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the APAC Green Ammonia market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the APAC Green Ammonia market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as technology and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the APAC Green Ammonia market. Further, we conducted factor analysis using dependent and independent variables such as technology and end-users of the APAC Green Ammonia market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the APAC Green Ammonia market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the APAC Green Ammonia market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the APAC Green Ammonia market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the APAC Green Ammonia market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the APAC Green Ammonia market. data was split into several segments & sub-segments after studying various parameters and trends in the areas of the technology and End-user in the APAC Green Ammonia market.

The main objective of the APAC Green Ammonia Study

The current & future market trends of the APAC Green Ammonia market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the APAC Green Ammonia market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the technology and end-user
• Define and analysis of the regulatory framework for the APAC Green Ammonia industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the APAC Green Ammonia market for the major region
• Major countries studied in the report include China, Japan, India, Australia, and the Rest of APAC
• Company profiles of the APAC Green Ammonia market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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