New York, July 27, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe Green Ammonia Market- Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028” – https://www.reportlinker.com/p06480208/?utm_source=GNWGreen ammonia is an emerging technology that has the potential to revolutionize the energy and agriculture industries by providing a clean and efficient source of energy. The European Union (EU) has recognized the importance of this technology and has set ambitious targets to increase the production and use of green ammonia.
Green ammonia is produced through a process called electrolysis, which uses renewable electricity to split water into hydrogen and oxygen.The hydrogen is then combined with nitrogen to create ammonia, which can be used as a fertilizer or fuel.Growing technological Efforts to lessen Climate Change Effects are Market Driving factors.
Climate change is one of the most significant challenges facing the world today, and Europe has been a leader in addressing this challenge by setting ambitious climate targets and promoting the development of clean energy technologies such as green ammonia.Green ammonia is used in different technology for the processing or production of fuels and products.Growing Demand for Renewable Energy Based Products is Driving the Market Growth
Renewable energy and green ammonia are closely linked in Europe, as the production of green ammonia requires renewable energy sources such as wind and solar power.The development of renewable energy has played a critical role in making green ammonia production more feasible and cost-effective.Rising Sustainable agriculture and Products are Driving the Market Demand.
Sustainable agriculture and the green ammonia market are closely connected, as green ammonia can be used as a sustainable fertilizer to support sustainable agriculture practices.Sustainable agriculture aims to reduce the environmental impact of agricultural practices while promoting the long-term viability of the agricultural sector.Favorable Government Efforts are Driving the Demand for Europe Green Ammonia Market
The EU’s plan for green ammonia includes several initiatives, such as they will support the development of renewable energy sources, such as wind and solar power, which will be used to power the electrolysis process.Second, it will provide funding for research and development to improve efficiency and reduce the costs of green ammonia production.Recent Developments
• In February 2023, CEPSA EP SA and Fertiberia SA formed a tactical alliance to boost green hydrogen production and decarbonize the industry in Huelva. This collaboration will help Fertiberia SA to accelerate the growth of its green ammonia production.
• The consortium of companies led by ThyssenKrupp is planning to build a new plant in the city of Duisburg, Germany, and is expected to begin operations in 2025. The plant will have a production capacity of 1,000 tons of green ammonia per day, making it one of the largest green ammonia plants in Europe. The green ammonia will be produced in the plant using renewable energy sources, such as wind and solar power, and will emit significantly lower greenhouse gas emissions compared to traditional ammonia production methods.
Market Segmentation
Europe green ammonia market is segmented based on the production method, end-use, and country.Based on the production method, the market is divided into alkaline water electrolysis, proton exchange membrane, and solid oxide electrolysis.Company Profiles
Yara International ASA, Haldor Topsoe Holding A/S, ThyssenKrupp AG, Siemens Energy AG, BASF SE, ACME Group, GKN Ammonia Ltd., Fertiglobe plc, NEL Hydrogen AS, and Green Hydrogen Systems A/S are some of the key players of Europe Green Ammonia Market.• Europe Green Ammonia Market, By Production Method:
o Alkaline Water Electrolysis
o Proton Exchange Membrane
o Solid Oxide Electrolysis
• Europe Green Ammonia Market, By End Use:
o Power Generation
o Transportation
o Fertilizers
o Others
• Europe Green Ammonia Market, By Country:
o France
o Germany
o United Kingdom
o Italy
o Spain
o Finland
o Greece
o Portugal
o Bulgaria
o NetherlandRead the full report: https://www.reportlinker.com/p06480208/?utm_source=GNWReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
(GlobeNewsWire)