Bio Ammonia Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
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.
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,
Based on its end-use or applications, the bio ammonia market is segmented into,
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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