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CHEMICALS AND ADVANCED MATERIALS

Bio-Ammonia Market Segmentation by Application (Fertilizer, and Fuel); and by End-User (Power Generation, Transportation, Industrial Feedstock, and Others) – Global Demand Analysis and Opportunity Outlook 2029

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Extensive insights into the Growth of Bio-ammonia Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Bio-ammonia Market Highlights 2020-2029

The bio-ammonia market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Increasing awareness related to the ecological and green products, along with extensive research associated with bio-based products, are expected to fuel the progress of this market. The growth of the market can also be attributed to the increasing government initiatives for climate change on a global level. According to the data collected from the United States Environmental Protection Agency, in 2019, the estimated greenhouse emissions in the country were around 10 percent of the total greenhouse gas emissions. Moreover, rise in initiatives by the government to stabilize the volatility in the prices of raw materials in the near future, is also anticipated to create numerous opportunities for the growth of the market.

Global-Bio-ammonia-Market

The market is segmented based on application into fertilizer and fuel, out of which, the fertilizer segment is anticipated to grab the largest share by the end of  2028, owing to a rise in the demand for fertilizers in the agriculture sector and for the growing advancements towards the research and development of advanced bio-fertilizers. On the basis of end-user, the power generation segment in the global bio-ammonia market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that bio-ammonia acts as a sustainable fuel for power generation. Electricity generated by using green ammonia is observed to be the cleaner version of gas and hence, which in turn is expected to drive the growth of the bio-ammonia market during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

chemicalsThe chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Bio-Ammonia Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. Amongst these regions, the market in the North America is anticipated to hold the largest market share owing to the rising demand for nitrogen fertilizers among the farmers, followed by the increase in awareness among the end users for environmentally friendly solutions. Furthermore, the market in the Asia Pacific is evaluated to grow with the highest CAGR during the forecast period. The growth of the market in the region can be attributed to the increasing population, growing disposable income, and for the changes in lifestyles of consumers in developing countries such as India, China, and Indonesia, which is raising the demand for agriculture products, thereby driving the consumption of bio-ammonia in the region. Moreover, growing concern for the emissions from the agricultural sector is also anticipated to drive the market growth in the region. As per the analysis of Asian Development Bank, the Asia Pacific accounts for 37% of the world's total emissions from agricultural production, and China alone accounts for more than 18% of the total.

Bio-Ammonia-Market-Share

The global bio-ammonia market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global bio-ammonia market includes the following segments:

By Application

  • Fertilizer
  • Fuel

By End-User

  • Power generation
  • Transportation
  • Industrial feedstock
  • Others

Growth Drivers

  • Rising demand for eco-friendly fertilizers
  • Increase in research & development activities for bio-based products

Challenges

  • Low production capacity of Bio-ammonia

Top Featured Companies Dominating the Market

  • SynGest Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • BioNitrogen Corp
  • Agrebon Inc.
  • Other prominent players

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