A recently published study by FMI expects the global ammonium sulphate market to augment at a 7.5% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of USD 6.18 Billion is expected for the market. The demand for ammonium sulphate is growing owing to its increasing usage in the agricultural sector. Moreover, application of ammonium sulphate has found a place in the biopharmaceutical and cake and confectionery industries too. This, in turn, is positively influencing the growth of ammonium sulphate market.
The increasing use of ammonium sulphate in Europe for water retention purposes and for agriculture in Asia Pacific is further contributing to the market growth. Furthermore, the use of ammonium sulphate for wood preservation and soil retention is favoring the growth of the market. In the upcoming years, the dependency on ammonium sulphate is expected to increase by end user industries owing to its multi-purpose use.
The ammonium sulfate market is driven by several prominent factors that contribute to its growth:
- Increasing Demand for Nitrogenous Fertilizers: The primary driver for the ammonium sulfate market is its extensive use as a nitrogen-based fertilizer. With the growing global population and the need for enhanced agricultural productivity, the demand for effective fertilizers like ammonium sulfate is rising significantly.
- Enhancement of Soil Fertility: Ammonium sulfate improves soil fertility by providing essential nutrients, particularly nitrogen and sulfur, which are crucial for plant growth. Its application helps in correcting soil pH levels, especially in alkaline soils, making it suitable for a wide range of crops.
- Rising Agricultural Activities: Increased agricultural activities driven by the demand for food products are propelling the growth of the ammonium sulfate market. Farmers are increasingly adopting ammonium sulfate to boost crop yields and quality.
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 sulphate 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 sulphate 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.
Key Segments Profiled in the Ammonium Sulphate Industry Survey
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
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