Bio-Ammonia Industry - Regional Synopsis
North America Market Statistics
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. North America industry is anticipated to account for largest revenue share by 2037, owing to rising demand for nitrogen fertilizers among the farmers, along with increase in awareness among the end users for environmentally friendly solutions.
APAC Market Analysis
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.
