Europe, a diverse region with strong economies like Germany, France, Spain, Italy, Russia, and other emerging markets, experiences a rising need for ammonia crackers. The demand surge is due to the region's expanding industries, especially transportation, power generation, and metals. Europe stands out as a significant market for ammonia crackers, with continuous advancements and project launches within the area driving this prominence.
According to the BIS Research market intelligence report, the Europe ammonia crackers market was valued at $54.40 million in 2022 and is anticipated to reach $415.61 million by 2032, witnessing a CAGR of 24.9% during the forecast period 2023-2032.
Regulatory advancements, ongoing research, and collaboration between industry leaders contribute to the growth of the Europe ammonia crackers market. The growth results from the dynamic landscape and the flourishing end-use sectors. As a hub for ammonia crackers, Europe's robust market reflects the region's ongoing developments and consistent project announcements.
The ammonia crackers market derives its energy from various sectors that depend on its vital operations, encompassing heat treatment, the metal industry, oil and gas, power generation, transportation, and various other uses. Within the domain of ammonia crackers, the distributed segment is poised to take the lead in the European market throughout the forecast period spanning from 2023 to 2032.
Moreover, in 2022, Europe took the lead in the ammonia crackers market due to its robust presence in manufacturing, especially in sectors like the metal industry, heat treatment, and transportation.
Key industry players such as Siemens Energy and ThyssenKrupp AG, deeply embedded in the ammonia crackers supply chain, notably bolstered the market's growth prospects in the region.
Here are some recent development updates on European ammonia crackers market:
Yara International announced in September 2023 that it would invest €100 million to modernize its ammonia cracker in Porsgrunn, Norway. The upgrade is expected to reduce CO2 emissions from the plant by 30% and increase capacity by 10%.
Fertiberia announced in August 2023 that it would invest €150 million to build a new ammonia cracker in Puertollano, Spain. The plant is expected to be operational in 2025 and will produce 1,000 tonnes of ammonia per day.
Thyssenkrupp Uhde announced in June 2023 that it had been awarded a contract to build a new ammonia cracker for Ammonia Serv in Brunsbüttel, Germany. The plant is expected to be operational in 2026 and will produce 1,200 tonnes of ammonia per day.
Siemens Energy announced in May 2023 that it had been awarded a contract to supply a new ammonia cracker to Yara International for its Porsgrunn plant in Norway. The cracker is expected to be operational in 2026 and will be the most efficient ammonia cracker in the world.
OCI announced in July 2023 that it would invest €200 million to expand its ammonia cracker in Geleen, the Netherlands. The expansion is expected to increase capacity by 20%.
The rising demand for efficient hydrogen carriers is propelling the ascent of large-scale ammonia crackers. Companies like Siemens Energy, Proton Ventures, and Amogy Inc. actively invest in developing these larger-scale systems. Anticipations place the power generation and mobility sectors at the forefront of large-scale ammonia cracker advancements. In contrast, the market for small-scale ammonia crackers is mature and fragmented, with numerous companies operating within this space.
