According to the United Nations report, the world population is projected to reach 8.6 billion in 2030 and 9.8 billion in 2050. This rising population is increasingly pressuring the agricultural industry to improve crop production. For instance, as per the United Nations Food and Agriculture Organization (FAO), to feed the growing population, the agriculture industry will need to produce 70% more food while only being able to use 5% more land. Since most of the arable land is already farmed, therefore this growth is required to meet from high yield, thereby driving the market for agrochemicals. Ammonium sulfate is one of the first fertilizers for crop production. Nowadays, it is primarily used where there is a need for supplemental nitrogen (N) and sulfur (S) to meet the nutritional requirement of growing plants. It provides an excellent source of S which has numerous essential functions in plants, including protein synthesis. Therefore, it is expected that increasing demand for fertilizer would propel the market for ammonium sulfate.
According to UnivDatos Market Insights (UMI)’ research report “Global Ammonium Sulfate Market”, the market is expected to showcase a growth of around 6% during the forecast period. Growing fertilizers demand in order to improve the yield and a large number of non-agricultural application areas are some of the key factors driving the market for ammonium sulfate.
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Based on type, the market is bifurcated into dry and solid. Among both, the dry category accounted for a prominent share in the market and is expected to maintain its position during the forecast period due to its preference from agricultural, pharmaceuticals, food & beverage industries. Since dry ammonium sulfate is higher in purity, therefore it is preferred in areas where high purity of raw materials is required.
Based on application, the market is categorized into fertilizers, pharmaceuticals, food & feed additives, water treatment, and others. Among these, fertilizers are among the largest consumer of ammonium sulfate. Due to the presence of a high amount of sulfur, which supports or drives numerous essential plant functions, including protein synthesis, ammonium sulfate is used in the agriculture industry. Moreover, rice cultivating farmers use ammonium sulfate in flooded soil, since nitrate-based fertilizers are a poor choice due to denitrification losses.
Asia-Pacific accounted significant share of the market in 2020
Asia-Pacific accounted for a significant share of the market and is expected to showcase significant growth over the forecast period. This can be ascribed to the large base of the end-use industry as well as the presence of a large number of ammonium sulfate-producing companies in the regional economies that contributes to the easy availability at a lower cost.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Ammonium Sulfate market include BASF SE, Evonik Industries AG, Lanxess AG, Sumitomo Chemical Co. Ltd., Honeywell International Inc., Domo Chemical GmbH, Arkema S.A., OCI N.V., Fibrant BV, and Aarti Industries Limited. These companies are taking several strategic decisions to meet the growing demand and increase their market share.
“Global Ammonium Sulfate Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Type (Dry and Liquid)
2. By Application (Fertilizers, Pharmaceuticals, Food & Feed Additives, Water Treatment, and Others)
3. By Region (North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of APAC), and Rest of World)
4. By Company (BASF SE, Evonik Industries AG, Lanxess AG, Sumitomo Chemical Co. Ltd., Honeywell International Inc., Domo Chemical GmbH, Arkema S.A., OCI N.V., Fibrant BV, and Aarti Industries Limited)
Key questions answered in the study:
1. What are the current and future trends of the global ammonium sulfate industry?
2. How the industry has been evolving in terms of type and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global ammonium sulfate industry?
5. What are the customer orientation, purchase behavior, and expectations from the global Ammonium Sulfate suppliers across various region and countries?
