The global market for low-carbon ammonia as a marine fuel is becoming a crucial component of the shipping industry’s efforts to reduce carbon emissions. This emerging market is projected to experience significant growth in the next decade, highlighting its importance in the transition to more sustainable maritime practices.
According to research conducted by Fact.MR, the market for low-carbon ammonia is anticipated to grow from $4.11 billion in 2026 to $11.46 billion by 2036. This growth represents a robust compound annual growth rate (CAGR) of 10.8%, underscoring the increasing interest and investment in alternative marine fuels.
As shipping companies face stringent regulations and rising pressure to adopt greener technologies, low-carbon ammonia offers a viable solution. Its potential to reduce greenhouse gas emissions positions it as a key player in the decarbonization of maritime transport.
In summary, the low-carbon ammonia market is poised for remarkable expansion, driven by the shipping industry’s commitment to sustainability and compliance with environmental standards. This trend not only reflects a shift in fuel sources but also signifies a broader movement towards cleaner energy solutions in global shipping.
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