The global ammonium sulfate market size is expected to reach USD 5.04 billion by 2030, as per the new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.7% from 2022 to 2030. The advancement in agriculture technology would drive the demand for fertilizers, which would indirectly result in the growing demand for ammonium sulfate.
Ammonium Sulfate Market Report Highlights
- By product, solid ammonium sulfate held the largest revenue share of over 90.0% in 2021 due to an increase in demand for agricultural fertilizers
- The fertilizers application segment accounted for the largest revenue share of over 70.0% in 2021 as there is a boost in the demand for food products on account of the population explosion. This is anticipated to drive the demand for the product in fertilizer production globally
- Asia Pacific held the largest volume share of over 45.0% in 2021. The fertilizers demand is high in the APAC economies as agriculture is the primary sector. This, in turn, will increase the demand for ammonium sulfate
Gain deeper insights on the market and receive your free copy with TOC now @: Ammonium Sulfate Market Report
Ammonium sulfate is an inorganic water salt comprising sulfur and nitrogen. The composition is used in the agricultural sector as fertilizer. It has the ability to provide stability and functionality to the fertilizer. Benefits associated with these fertilizers include water-solubility, easy blending abilities with nitrogenous fertilizers, and elevation of soil. These benefits ensure high plant growth, thereby leading to the high demand from farming communities.
Rice is a staple food crop in most Asian countries and is grown by almost two billion people according to the Food and Agriculture Organization (FAO). North America accounted for the third-largest market share after Asia Pacific and Europe in 2021. The Ministry of Health, Labor, and Welfare declared the product as safe for health with no health problems associated, therefore it is accepted and utilized across the globe.
The global market is very competitive; thus several manufacturers are investing in the development of technologies for the production method of the product. Manufacturers are focusing on mergers and acquisitions to increase their global presence and broaden their product portfolio. For instance, in 2019, Sumitomo Chemical announced the merger of Sumitomo Chemical India Limited and Excel Crop Care Limited to expand the business in India.
Ammonium Sulfate Market Insights By Demographics
Asia Pacific held the largest volume share. The growth is attributed to the increase in demand for fertilizers used in the agriculture sector in the region, which in turn, will boost the demand for ammonium sulfate. Europe accounted for the second-largest share in terms of volume. The growth is credited to the increase in demand for fertilizers used in multiple crop production. Multiple agencies are establishing regulations regarding the utilization of synthetic fertilizers in the region. Central and South America are anticipated to register a high CAGR over the forecast period due to an increase in the demand for high-quality ammonium sulfate-based fertilizers used in the healthy growth of the major crops, which include grapes, soybeans, sunflower seeds, and wheat.
Industry Share Analysis By Major Companies
The market for ammonium sulfate is highly competitive with the big international brands focusing on the development of long-term relationships with the end users. With the further increase in the water treatment operations and the growth of the pharmaceutical sector, the competition is anticipated to increase in the coming years. Companies have established themselves as key manufacturers and they focus on research and development for novel uses of the product. Some prominent players in the global ammonium sulfate market include:
- BASF SE
- Evonik Industries
- Lanxess Corporation
- Novus International
- Sumitomo Chemical
For Any Questions or Inquire please visit @: https://www.grandviewresearch.com/industry-analysis/ammonium-sulfate-market/request/rs5
Ammonium Sulfate Market Segmentation
Grand View Research has segmented the global ammonium sulfate market on the basis of product, application, and region:
- Ammonium Sulfate Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
- Ammonium Sulfate Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
- Ammonium Sulfate Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
- List of Key Players in Ammonium Sulfate Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
For Any Questions or Inquire please visit @: https://www.grandviewresearch.com/special-pricing/1151/rfsp2
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Contact:
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll-Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com