Bio Ammonia Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Bio Ammonia Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : August, 2020 | Chemical & Materials | PPT format

Report Digest

Bio Ammonia Market Introduction

Bio ammonia is anhydrous ammonia that is manufactured sustainably by making use of corn biomass or woody biomass. As the ammonia industry has been ill-famous for burdening the planet with greenhouse gases by consuming a major chunk of fossil fuels and conventional energy sources, industry players are shifting to manufacturing bio ammonia to mitigate their carbon footprint.

The techno-economic advantages of following sustainable ammonia production are aiding bio ammonia manufacturers to introduce cost-effective and eco-friendly ingredient in fertilizers as well as fuels. As manufacturing of bio ammonia reduces CO2 emissions to a greater extent, a ballooning environmentally aware end-user base is likely to boost demand for bio ammonia, thereby triggering growth of the bio ammonia market. 

Bio Ammonia Market – Notable Developments

BioNitrogen Corp, Agrebon, and SynGest are among the leading players in the bio ammonia market.

  • SynGest Inc., a San Francisco-based company in the bio ammonia market, recently announced that the funds of nearly US$ 2.5 million have been approved by the Iowa Power Fund board for its planned bio ammonia plant in Iowa. The company announced that the bio ammonia plant will make use of over 150 thousand tons of corn biomass to produce more than 50 thousand tons of bio ammonia every year, which will be sufficient to fertilize over 500 thousand acres of agricultural land.
  • Yara International ASA, a Norwegian chemical company, announced recently that it has partnered with ENGIE, a French multinational electric utility company to design a large-scale renewable hydrogen project that will be integrated with Yara’s existing green ammonia plant in Pilbara, Western Australia.

In April 2018, Yara collaborated with BASF SE, a German chemical company, to invest nearly US$ 600 million in its new, world-scale ammonia plant in Freeport, Texas, USA. The company also declared that the newly built bio ammonia plant has can produce over 750 thousand metric tons of ammonia annually by following an environmentally friendly and cost- production process that uses by-product hydrogen instead of natural gas for producing bio ammonia. 

Bio Ammonia Market Dynamics

Growing Demand for Ammonia as a Sustainable Ingredient in Agricultural Fertilizer will Support the Bio Ammonia Market

With the growing awareness about the negative effects of chemical fertilizers, the agriculture sector is making a shift away from chemicals and adopting environmentally friendly, chemical-free bio-fertilizers. Leading players in the bio ammonia market are harnessing the power of ammonia to introducing cost-effective and eco-friendly bio-fertilizing by using bio ammonia.

Ammonia is one of the most common ingredients in agricultural fertilizers, and leading players in the bio ammonia market are adopting a bio-based approach to manufacture bio-fertilizers using sustainable manufacturing processes alongside bio ammonia. Growing awareness about the environmental impact of chemicals in fertilizers is expected to augur well for manufacturers in the bio ammonia market to pave their way in the agricultural fertilizers industry in the coming future. 

Increasing Industrial Growth and Plummeting Fossil Fuel Sources will Boost Adoption of Bio Ammonia as a Sustainable Fuel

The trend of industrialization is on the rise across the world, resulting in burgeoning manufacturing production and industrial output, which is one of the primary factors to amplify the energy demand worldwide. Increased industrialization has led to creating potential risks of energy crisis worldwide, the industrial sector holds a large share in total energy consumption. According to the U.S. Energy Information Administration (EIA), the industrial sector accounted for more than one-third of the total energy consumption in the United States (U.S.), in 2017, thereby creating needs for sustainable fuel sources, such as bio ammonia.

Manufacturers in various industrial sectors are becoming more conscious about their fossil fuel consumption, and increasing efforts to limit it is triggering demand for renewable fuels such as bio ammonia. Furthermore, bio ammonia market players are likely benefit from the rise in prices charged by utility providers, as it will drive industry players to shift from conventional energy sources to bio ammonia as a biological fuel. Thereby, growing awareness about mitigating consumption of fossil fuels with the increasing industrialization is expected to complement growth of the bio ammonia market in the upcoming years. 

Bio Ammonia Market Segmentation

Based on the product types, the bio ammonia market is segmented into,

  • Bio Ammonia Manufactured with Woody Biomass
  • Bio Ammonia Manufactured with Corn Biomass
  • Others

Based on its end-use or applications, the bio ammonia market is segmented into,

  • Fuel
  • Fertilizers
  • Others

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.