The global ammonium sulfate market size is expected to gain momentum by reaching USD 1.50 billion by 2028 from USD 1.08 billion in 2021 while exhibiting a CAGR of 4.8% between 2021 to 2028. In its report titled, “Ammonium Sulfate Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 1.04 billion in 2020.
With the increasing demand for Sulphur as a macronutrient, it is directly used in the feedstock to increase its productivity. However, it can be provided to crops directly or in blended form as N+S products or compound NPK+S. Thereby promoting the demand for ammonium sulfate products in the market.
The outbreak of the COVID-19 pandemic has crippled the global economy, and this market also suffered a loss. Most of the manufacturing was shut amidst lockdown, and people preferred staying indoors. Apart from that, agricultural practices were also at a halt, and this negatively affected the market growth. However, companies are trying to run the sales, despite restrictions by the governments. They are aiming to cope up in the coming quarters.
List of Key Players Profiled in the Ammonium Sulfate Market:
BASF (Ludwigshafen, Germany)
Evonik (Essen, Germany)
Sumitomo Corporation (Tokyo, Japan)
Lanxess (Cologne, Germany)
Domo chemicals (Leuna, Germany)
Arkema (Colombes, France)
Fibrant (Urmond, Netherlands)
Royal DCM (Heerlen, Netherlands)
Novus International (Missouri, U.S.)
What does the Report Provide?
The market report provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the growth of the market.
Drivers & Restraints
Increasing Adoption by Industrial Sector to Boost Market Growth
The increasing usage of ammonium sulfate in the industrial sector for various applications such as flame retardants increases the combustion temperature of the burning material and decreases maximum weight loss rates. This then increases the production of residue or char. It is also used in wood preservation, water treatment, and others is expected to drive the ammonium sulfate market growth. Furthermore, it is also adopted in the healthcare sector, where it helps in precipitation and fractionation of vaccines is anticipated to aid its growth in upcoming years.
Asia Pacific to Remain at Forefront Backed by Increasing Demand for Fertilizers
Asia Pacific is expected to remain at the forefront and hold the highest position in the market for ammonium sulfate during the forecast period owing to the presence of major crop-producing countries, such as India. For instance, according to a report published by Knoema in 2018, the fertilizer consumption by India was 175 kilograms per hectare. This increased from 12.4 kilograms per hectare in 1969 to 175 kilograms per hectare in 2018. The growth rate is annually 5.96%. The region’s market stood ad USD 0.36 billion in 2020.
Europe is expected to showcase a significant ammonium sulfate market share during the forecast period. For instance, according to research conducted by Europa, the EU-27 cereals production was nearly 299 million tons in the year 2019. Therefore, strong manufacturing, as well as consumer base for fertilizers, is likely to boost the market.
Key Players to Focus on Collaborations to Strengthen their Positions in This Market
Key players in the market are deepening their engagement to come up with innovative and comfortable products to allure their consumers. They are coming up with new launches and widening their offerings to expand in the market for ammonium sulfate.
By application, the market is bifurcated into fertilizers and industrial.
Based on the application, the industrial segment is expected to witness significant growth in upcoming years owing to increasing applications in textile dyeing, feed additives, food additive, leather processing, water treatment, and flame retardant manufacturing companies.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Recent Industry Developments – Policies, Partnerships, New Type Launches, and Mergers & Acquisitions
Qualitative Insights – Impact of COVID-19 on Global Ammonium Sulfate Market
Supply Chain Challenges
Steps taken by Government/Companies to overcome this impact
Potential opportunities due to COVID-19 outbreak
Key Industry Development
January 2018: ASpure launched various food additives to enhance the taste. The company offers a high purity inorganic salt obtained from chemical synthesis without any involvement of biological agents.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –