Aluminum Phosphide Market - Regional Analysis
Asia Pacific Market Insights
Asia Pacific industry is anticipated to account for largest revenue share of 36% by 2035. The market is expanding due to several factors, including the rise in major corporations' investments in emerging countries, and advancements in the agricultural industry.
The Asia Pacific region is expected to lead the market in the next ten years due to notable advancements in the domain of food security. Grain storage facilities are being planned for countries such as China, Vietnam, India, and the Philippines.
For instance, according to the world’s largest food grain storage program in India, a godown with a 2000-ton capacity will be built in each block as part of this plan. Through the cooperative sector, the program seeks to increase India's foodgrain storage capacity by 700 million tonnes.
Furthermore, the market expansion can contribute to the growing agricultural industry in the region. These factors are bolstering the market growth in the region.
North American Market Insights
The North American aluminum phosphide market is poised to hold a share of 28% by the end of 2035. The market is expected to grow in the upcoming years due to advancements in technology and a rise in the need for pesticides in the region.
Further, the high demand for semiconductors paved the way for the market. For instance, sales of semiconductors worldwide reached USD 574.1 billion in 2022, a 3.3% rise from 2021. Also, greater prospects for market expansion are being created by the major corporations' increased investments in grain storage facilities.
The agricultural research and development industry will grow as a result of increased efforts and financial support by the governments in the region.
