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Global Blue Ammonia Market Outlook 2024-2050
BLUE AMMONIA MARKET
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Ammonia is a versatile chemical with diverse applications. It is crucial for fertilizers in agriculture, a key ingredient in many household products, and a potential clean fuel source for transportation and power generation. However, conventional ammonia production is a major source of greenhouse gas emissions.
Blue ammonia offers a solution to this challenge, providing a cleaner alternative for various sectors.
The United States blue ammonia market is valued at $30.07 million in 2024 and is set to garner $16869.56 million by 2050, growing at a CAGR of 51.78% during 2045-2050.
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A low-carbon fuel produced by capturing and storing carbon dioxide emissions from the conventional ammonia production process, blue ammonia is used for various applications such as power generation, transportation, and industrial feedstock. Moreover, it is also seen as a promising way to enable the transition to a hydrogen economy, as it can efficiently store and transport hydrogen without emitting carbon dioxide.
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The United Nations Climate Change Conference, COP28, in December 2023, concluded with a historic agreement to transition away from fossil fuels and address the urgent challenge of escalating climate change. During the summit, President Sultan Al Jaber promoted blue ammonia as a decarbonization solution.
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Industries across the globe are witnessing significant transformation on account of this low-carbon fuel, offering a cleaner alternative for power generation, transportation, and industrial applications!
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