According to a recent FMI analysis, the worldwide ammonium sulphate market will grow at a 7.5% CAGR from 2022 to 2032. The market is anticipated to be valued at US$ 6.18 billion by the end of the assessment period. Because of its expanding use in agriculture, the demand for ammonium phosphate is increasing.
Furthermore, ammonium phosphate is being used in the biopharmaceutical, bakery, and confectionery sectors. This, in turn, has a beneficial impact on the growth of the ammonium phosphate market. From 2017 to 2021, the industry grew significantly, with a 5% value CAGR and a total value of $2.79 billion.
The COVID-19 pandemic affected the demand for ammonium phosphate positively as the same is widely used in the production of disinfectants and surface cleaners. In addition, modification of ammonium phosphate for maximizing the use of the same is creating opportunities for the market.
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The increasing use of ammonium phosphate in Europe for water retention purposes and for agriculture in Asia Pacific is further contributing to the market growth. Furthermore, the use of ammonium phosphate for wood preservation and soil retention is favoring the growth of the market. In the upcoming years, the dependency on ammonium phosphate is expected to increase by end user industries owing to its multi-purpose use.
Key Takeaways from the Market Study
- By production process, caprolactam is expected to hold 40% market share for ammonium sulphate in 2022.
- North America is expected to hold 45% for ammonium phosphate market in 2022.
- Asia Pacific is expected to possess 40% of market share for global ammonium sulphates market in the assessment period 2022-2032.
- Europe is expected to procure 35% of market share for ammonium sulphates market in the forecast period 2022-2032.
“The increasing use of ammonium phosphate in end user industries especially in the agricultural sector by different geographical locations is increasing the demand for the same.” says an FMI analyst
Market Competition
Key players in the ammonium sulphate market are Koninklijke DSM N.V. (Fibrant), JSC KuibyshevAzot, UBE Industries Ltd, Toray Industries Inc., China Petrochemical Development Corporation, China Petroleum & Chemical Corporation (Sinopec Corp.), JSC “Grodno Azot”, Grupa Azoty, Domo Chemicals, Gujarat State Fertilizers & Chemicals Ltd, Sumitomo Chemical, Evonik Industries AG
- In August 2022, JSC “Grodno Azot” announced that it will be partially limiting the production of nitrogen fertilizer due to the increase in prices of natural gas.
- DOMO Chemicals, a key player in the ammonium sulphate market is focusing on producing the same sustainable and reducing their overall carbon footprint.
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More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global ammonium phosphate market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Production (Process Caprolactam, Coke Oven Gas, Gypsum, and Neutralization & Others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segmentation
Ammonium Sulphate by Production Process:
- Ammonium Sulphate for Caprolactam
- Ammonium Sulphate for Coke Oven Gas
- Ammonium Sulphate for Gypsum
- Ammonium Sulphate for Neutralization & Others
Ammonium Sulphate by Region:
- North America Ammonium Sulphate Market
- Latin America Ammonium Sulphate Market
- Europe Ammonium Sulphate Market
- Asia Pacific Ammonium Sulphate Market
- Middle East & Africa Ammonium Sulphate Market
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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