Facing green push on farm, fertilizer makers look to sea for growth
2/15/2021
Two of the world s biggest fertilizer producers, CF Industries Holdings Inc and Yara International Asa, are seeking to cash in on the green energy transition by reconfiguring ammonia plants in the United States and Norway to produce clean energy to power ships.
The consumption of oil for transportation is one of the top contributors to global greenhouse gas emissions that cause climate change, and fertilizer producers join a growing list of companies adjusting their business models to profit from a future lower-carbon economy.
By altering the production process for ammonia normally used for fertilizer, the companies told Reuters they can produce hydrogen for fuel or a form of carbon-free ammonia used either as a carrier for hydrogen or as a marine fuel to power cargo and even cruise ships.
Diesel Exhaust Fluid (Adblue) 2021 Global Market Share, Trends, Segmentation & Forecast To 2026
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Fertilizers Market 2021 Industry Size, Share, Price, Trend and Forecast to 2026
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Global Ammonium Phosphate Market to Reach US$47.9 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Ammonium Phosphate estimated at US$38 Billion in the year 2020, is projected to reach a revised size of US$47.9 Billion by 2027, growing at a CAGR of 3.4% over the analysis period 2020-2027.
Mono-Ammonium Phosphate (MAP), one of the segments analyzed in the report, is projected to grow at a 3.6% CAGR to reach US$14.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Di-Ammonium Phosphate (DAP) segment is readjusted to a revised 3.3% CAGR for