Ammonia Sourcing Intelligence Forecast To Register CAGR Of Over 5.4% Till 2030
Ammonia Procurement Intelligence The ammonia category is anticipated to grow at a CAGR of 5.4% from 2023 to 2030. Asia Pacific region dominated the category with more than 50% in 2022. According to Ammonia Energy Association, India accounts for 8% of the global production. A rise in the production of fertilizers is expected to drive the demand, as approximately 70% of this product is used to make fertilizers. Ammonia production also accounts for 1.3% of CO2 emissions, owing to which governments of various countries are focusing on adopting low-carbon ammonia to reduce greenhouse gas emissions. For instance, the Government of India approved USD 2.4 billion budget for National Green Hydrogen Mission in January 2023, which aims to achieve 5 million mt/year of renewable hydrogen by 2030. To achieve net-zero emissions, various new production methods are emerging, such as electrolytic hydrogen from green ammonia. Order your copy of the Ammonia category procurement intellig...