Farmington, Jan. 25, 2023 (GLOBE NEWSWIRE) — The global Green Fertilizers Market was valued at USD 2,145.73 Million in 2022 and is projected to reach USD 3,332.26 Million by 2030, growing at a CAGR of 4.5% from 2023 to 2030. The fertilizer industry has identified the most promising green fertilizer technology. The challenge is to create a profitable way for low-carbon products. This can be accomplished by reducing costs, resolving technological issues on the supply side, and creating a market for high-quality, low-carbon-footprint meals. Mineral fertilizers today enable the world to produce fifty percent of its food. However, its creation requires a great deal of energy.
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Approximately 5% of the world’s total gas consumption is utilized to produce ammonia. Renewable energy must be utilized to produce ammonia, a vital component of mineral fertilizers, to reduce the quantity of carbon dioxide emitted by this process. Green ammonia, often known as “low-carbon fertilizer,” could aid in reducing the amount of carbon consumed in food production.
Green Fertilizers Market Recent Developments:
- In 2022, Norwegian fertilizer giant Yara and leading agricultural cooperative Lantmannen signed a commercial agreement to bring a fossil fuel-free nitrate-based fertilizer to the market next year. Fertilizer is manufactured by Yara and sold by Lantmannen in its home country of Sweden. Fertilizers will be made from ammonia produced using renewable energy such as hydroelectric power, not natural gas.
- In January 2021, ThyssenKrupp AG won an engineering contract with Canadian energy company Hydro-Quebec to install an 88-megawatt (MW) water electrolysis plant. The water electrolysis plant has been identified as having the potential to produce 11,100 metric tons of green hydrogen per year.
Green Fertilizers Market Segmentation Analysis:
Alkaline water electrolysis (AWE), a well-known, dependable, and time-honored form of electrolysis, is anticipated to increase at the highest pace over the projected period. Alkaline water electrolysis is a type of electrolysis that use two electrodes and a potassium or sodium hydroxide solution as the electrolyte. Because the catalysts are less expensive and the gas is cleaner, it is increasingly employed to produce green ammonia. Additionally, alkaline water electrolysis is more lasting due to the fact that the electrolyte can be altered and the anodic catalyst dissolves less rapidly.
Both ammonium nitrate and calcium ammonium nitrate are effective nitrate-based fertilizers in the European environment. Small amounts of ammonium (NH4+) are absorbed immediately by plants, hence the requirement for ammonium nitrate fertilizer will increase. The positively charged ion is less mobile than nitrate (NO3) and adheres to minerals in the soil. Therefore, the plant’s roots must develop toward the ammonium.
In the future years, Europe will dominate the global marketplace. Overall, the European fertilizer industry has greatly boosted the energy efficiency of ammonia production. Due to the physicochemical constraints of existing technology, it is anticipated that further investments will only minimally boost productivity. Europe’s ammonia facilities are the most energy-efficient and release the least CO2 in the world, notwithstanding their average age.
During the projection period, the United States is predicted to be one of the fastest-growing markets for the production and consumption of green fertilizer. By 2030, it is predicted that the country would occupy a considerable share of the global green fertilizer industry. Green fertilizer market growth in the United States is impacted by the presence of top green fertilizer manufacturing businesses and important technology providers, the implementation of severe laws, and the growing popularity of green fertilizers.
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Scope of Report:
|Growth Rate||4.5% from 2023 to 2030|
|Market Size in 2022||USD 2,145.73 Million|
|Revenue Forecast by 2030||USD 3,332.26 Million|
|By Technology||Alkaline water electrolysis, Proton Exchange Membrane, Solid Oxide Electrolysis|
|By Fertilizer||Packaging, Ammonium nitrate (AN), Calcium ammonium nitrate (CAN)|
|By Companies||Yara International ASA, Siemens Energy, Origin Energy Limited, Iberdrola, S.A., HY2GEN AG, Hive Energy, Haldor Topsor A/S, H2U Technologies, Inc., Fusion-Fuel, Fertiglobe, Eneus Energy Limited, Enaex Energy, Dyno Nobel, CF Industries Holdings, Inc., Ballance Agri-Nutrients, Aker Clean Hydrogen, Air Products Inc., ACME Group, and Others|
|Historical Year||2017 to 2021|
|Forecast Year||2023 to 2030|
Green Fertilizers Market Dynamics:
Population and economic expansion together with growing urbanization will bring about significant change. Droughts, wildfires, high rainfall, and an increase in pests are all current indicators of how climate change is impacting agriculture in the United States. Since 1990, agricultural greenhouse gas emissions have increased by 11%, representing 9% of all greenhouse gas emissions in the United States. As the United States joins the rest of the world in attempting to halt climate change, the agriculture sector will be required to decrease greenhouse gas emissions and make farms more resistant to climate change. This will necessitate more sustainable agricultural practices, sometimes known as “climate-smart” agriculture.
All mineral nitrogen fertilizers begin with ammonia, which connects the nitrogen in the air to the food we consume. About 70 percent of ammonia is used to produce fertilizers, while the remaining 30 percent is utilized to manufacture plastics, explosives, and synthetic fibers. The future usage of ammonia as a source of low-carbon energy is not the primary focus of the analysis in this technology roadmap. About 2% of all final energy consumption and 1.3% of all CO2 emissions are caused by ammonia production.
During the February freeze in Texas, a significant portion of natural gas production was halted or redirected away from usual applications, contributing to the price increase. The gas was subsequently transferred to Texas due to the strong demand. Due to this, ammonia factories in Oklahoma, Texas, and Louisiana, which account for around 60% of overall production, were forced to close. This decreased output by 250,000 tonnes.
Green Fertilizers Market Key Segments Covered:
Top Market Players:
Yara International ASA, Siemens Energy, Origin Energy Limited, Iberdrola, S.A., HY2GEN AG, Hive Energy, Haldor Topsor A/S, H2U Technologies, Inc., Fusion-Fuel, Fertiglobe, Eneus Energy Limited, Enaex Energy, Dyno Nobel, CF Industries Holdings, Inc., Ballance Agri-Nutrients, Aker Clean Hydrogen, Air Products Inc., ACME Group, and Others.
- Alkaline water electrolysis
- Proton Exchange Membrane
- Solid Oxide Electrolysis
- Ammonium nitrate (AN)
- Calcium ammonium nitrate (CAN)
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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