Clean Ammonia Market Growth and Fertilizer Industry Outlook
Expect strong emerging demand for clean ammonia
As of March 2022, 33 countries along with the
EU have set net-zero emissions targets, in
accordance with the Paris Agreement. Major
ammonia producers like China, India, and the
US have net-zero emissions targets which will
require industries to abate emissions moving
forward.
Key Demand Sources
B
Power Generation - Asia pacific has a goal to co-
fire ammonia in coal power plants through
incremental steps starting in late 2020's
Marine Fuel - International Marine Organization
(IMO) have committed to a 40% reduction in
intensity by 2030, and 70% by 2050, driving the
need for low/zero-carbon fuel alternatives
-
Hydrogen Europe, Japan and South Korea
have stated policies for integration of hydrogen
into their energy systems.
Agriculture & Other - Potential for a premium to
develop in agricultural markets for clean ammonia
to be used to produce low-carbon food, fuel and
fiber
Clean Ammonia Demand Growth Potential¹
Million Tonnes
Other Decarbonization
Power Generation / Hydrogen Carrier
Marine Fuel
Initial demand
Up to 26Mmt
Long term growth
Up to 90Mmt
2030
2040
1.
2021 Global merchant ammonia trade of approximately 18Mmt.
Demand upside
Up to 320Mmt
2050
22
Source: Argus, McKinsey, IHS, Climate Action Tracker, NutrienView entire presentation