The global ammonia market is expected to triple in size by 2050, with low-carbon ammonia accounting for two-thirds of the growth, according to a new report by S&P Global Commodity Insights. The increased demand for low-carbon ammonia, driven by decarbonisation policies, is expected to transform the industry, with markets diversifying to include power generation, marine bunker fuel and industry feedstock. Global trade of ammonia is predicted to increase ten-fold by 2050, with the Americas, Middle East and Australia emerging as major exporters and Europe and East Asia as major demand centres. However, the report highlights several key uncertainties that could impact the development of the market, including the need for policy support for green ammonia and the development of certification and classification systems to harmonise international trade.
Resource: https://esgnews.com/sp-global-report-ammonia-market-to-triple-by-2050-with-nearly-all-growth-coming-from-low-carbon-supply/