(EMAILWIRE.COM, April 11, 2025 )
Global Green Ammonia Market size was worth US$ 0.2 billion in 2023 and is estimated to reach US$ 5.9 billion by 2031, growing at a CAGR of 52.95% during the forecast period 2024-2031.
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Market Dynamics
Green Ammonia as a Maritime Fuel
The shipping industry currently accounts for approximately 3% of global greenhouse gas emissions, largely due to its reliance on diesel and high-sulfur fuels. Heavy fuel oil, the most prevalent bunker fuel used by ships, is a byproduct of crude oil distillation. When this high-sulfur fuel is combusted, it releases toxic sulfur oxides (SOx) into the atmosphere.
Facing increasing pressure to cut emissions, the maritime sector is actively transitioning to cleaner energy alternatives.
The International Maritime Organization (IMO) has enforced a stricter sulfur limit for marine fuels, reducing it to 0.5 percent mass by mass (m/m) for ships operating outside designated emission control areas. This regulatory shift is paving the way for higher-quality marine fuels, thereby creating significant growth opportunities for green ammonia as a sustainable maritime fuel option.
Market Segments
