Newark, NJ, May 27, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global ammonium sulfate market is expected to grow from USD 3.30 billion in 2020 to USD 4.55 billion by 2028, at a CAGR of 4.1% during the forecast period 2021-2028
There are factors that are driving the growth of the global ammonium sulfate market. Some of them include the pharmaceutical industry, population increase, increased investment, research and development activities, awareness of the benefits of the product and limited arable land, and consumption of the product. such as chemical sulfur and nitrogen in soil fertilizers. Increasing the preference for ammonium sulfate for flooded soils used in rice cultivation as a nitrate fertilizer is a poor choice as it leads to denitrification and leaching. Moreover, various benefits of growing plant products such as protein synthesis are further influencing the Ammonium Sulfate market.
Ammonium sulfate is used as a fertilizer for crop production where sulfur and nitrogen are needed to increase soil fertility. Ammonium sulfate is produced as a by-product of industrial processes including coke oven plants and caprolactam. It is also used to purify proteins, food additives and flame retardants. In addition, it is used to produce ammonium salts, including ammonium persulfate. Apart from this, ammonium sulfate is also used in industrial chemicals, pharmaceutical applications, and feed supplements for livestock. Thus, it is also produced as a by-product during the production of methyl methacrylate (MMA), acrylonitrile and caprolactam (CPL). Ammonium sulfate is preferred as a soil fertilizer because it is readily absorbed by plants and is suitable for low pH soils.
The global ammonium sulfate market is expected to experience significant growth owing to the increasing supply of ammonium sulfate. In addition, the increasing use of ammonium sulfate in the agricultural sector to manufacture water soluble fungicides, insecticides and herbicides is expected to drive the market growth. In addition, the increasing use of ammonium sulfate in textile and leather products for dyeing and printing purposes is also increasing the growth of the market. Factors restraining the growth of the market are the availability of substitutes such as ammonium nitrate and the high costs associated with the production of ammonium sulfate during the forecast period. Rising concerns about the health of individuals in the immediate vicinity of the functional area are challenging the growth of the market.
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The major players operating in the ammonium sulfate market are Honeywell International Inc., LANXESS, ArcelorMittal, GSFC, DOMO Chemicals GmbH, OCI Nitrogen, GFS Chemicals, Inc., Martin Midstream Partners LP, AdvanSix, BASF SE, Vertellus Holdings LLC , GAC Chemical Corporation, Evonik Industries AG, Nutrien Ltd., Koninklijke DSM NV, Arkema, Merck KGaA and Sumitomo Corporation. To gain significant market share in the global Ammonium Sulfate market, major players are now focusing on adopting product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships. . Ube Industries, Ltd and DOMO Chemicals GmbH are key manufacturers operating in the ammonium sulfate market.
- For example, in January 2020, Domo Chemicals finalized the acquisition of Solvay’s performance polyamides business with the aim of improving its industrial expertise and product portfolio.
- For example, in April 2020, Ube Industries, Ltd. said the company is planning a merger by incorporating its wholly-owned subsidiary.
The fertilizer segment dominated the market and held the largest market share of 28.26% in 2020.
Based on the application, the global ammonium sulfate market is segmented into food and feed additives, fertilizers, water treatment, pharmaceuticals, and textiles. The fertilizer segment dominated the market and held the largest market share of 28.26% in 2020. This growth is attributed to the unique properties of the product which control the pH in alkaline soils.
The strong segment dominated the market and held the largest market share of 59.02% in 2020.
On the basis of the product, the global ammonium sulfate market is segmented into liquid and solid. The strong segment dominated the market and held the largest market share of 59.02% in 2020. This growth is attributed to a growing awareness of the quality and yield of crops and the low cost compared to its substitutes. such as ammonium nitrate and ammonium chloride.
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Regional Segment Analysis of Ammonium Sulfate Market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Russia, rest of Europe)
- Asia-Pacific (China, Japan, India, rest of APAC)
- Latin America (Brazil, Argentina)
- The Middle East and Africa (South Africa, Saudi Arabia and the rest of the MEA)
On the basis of geography, the Ammonium Sulfate market has been categorized as North America, Europe, Latin America, Asia-Pacific, Middle East and Africa. The Asia-Pacific region held the largest market share of 29.03% in 2020. This growth is attributed to increased food consumption, high agricultural production, increased dependence on nitrogen fertilizers and growth demographic. On the other hand, the European region is experiencing significant growth due to the increasing demand in the agricultural sector, followed by the rapid development of agrifood industries. The restrictions imposed by Europe on the consumption of nitrates are likely to increase the demand for ammonium sulphate in the region in the coming years.
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About the report:
Global Ammonium Sulfate Market is analyzed on the basis of value (USD Billion). All segments were analyzed globally, regionally and nationally. The study includes analysis of over 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges to gain key insights into the market. The study includes the carrier’s five force model, attractiveness analysis, commodity analysis and competitor position grid analysis.
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