Wilmington, Delaware, United States, , March 22, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Ammonium Sulfate Market is anticipated to witness significant growth due to extensive usage of ammonium sulfate in applications such as fertilizers and water treatment. Ammonium sulfate has high solubility, which makes it useful in various agricultural processes, which drives market demand.
The global Ammonium Sulfate Market is likely to expand at a CAGR of 5% between 2021 and 2031. The global market is expected to reach US$ 5.9 Bn by 2031.
Ammonium sulfate is a nitrogen fertilizer that is widely used in agricultural production, as it enhances crop quality and produces a higher yield. Rise in demand for higher crop yield in the agriculture sector is projected to drive the global industry. It is widely utilized as a fertilizer in the cultivation of juice and rice to increase agricultural yield. Fertilizers aid in lowering the pH balance of soil, and by utilizing them, producers are able to create a reliable revenue stream.
Ammonium sulfate, which is available in both liquid and solid forms, acts as an acid regulator in bread and as an ingredient in animal feed. Its consumption in the agriculture sector has increased in countries such as India, Japan, the U.S., and the U.K., which in turn is propelling the global Ammonium Sulfate Market in these countries.
Increasing production of crops, animal feed and fuel is likely to raise market demand for ammonium sulphate in these countries. Introduction of contemporary agricultural techniques has enhanced output capacity of ammonium sulfate producers. Increase in production capabilities is likely to boost demand for ammonium sulfate, especially in the production of agrochemicals.
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Ammonium sulfate contains both nitrogen and sulfur. The formulation is designed for widespread use in fertilizer applications in the agriculture industry. It is most often used as a supplement for nitrogen-deficit soil and lawns. Moreover, the product is increasingly combined with nitrogen fertilizers to improve the stability and usefulness of fertilizers, which is likely to bolster industry growth.
Key Findings of Market Report
- Demand for industrial grade ammonium sulfate has increased in the past few years. It easily dissolves in water, has little metal, and contains hardly any organic contaminants. Industrial grade ammonium sulfate is more readily produced by companies in the ammonium sulfate industry. Leather industry uses industrial grade ammonium sulfate as a deliming agent, while the pulp and chipboard industry uses it as an additive.
Industrial grade ammonium sulfate has become popular as a nitrifying agent in yeast production as well as an addition for fire extinguishers. Therefore, demand for industrial grade ammonium sulfate is rising, which, in turn, is likely to drive market expansion in the near future.
Global Ammonium Sulfate Market: Regional Landscape
- Asia Pacific accounted for significant share of the global industry in 2020. Increase in demand for ammonium sulfate is attributed to rise in usage of fertilizers in the agricultural sector. Agriculture is a primary industry in several countries in Asia Pacific such as Sri Lanka, Bangladesh, and India. The agriculture industry is expanding at a sluggish pace; however, ongoing research and development is expected to create significant opportunities in the ammonium sulfate in the region
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Global Ammonium Sulfate Market: Growth Drivers
- The COVID-19 outbreak has had a favorable effect on the ammonium sulfate industry in India, with companies reporting record earnings despite the limitations put in place to stop the virus' spread. As a result, Indian producers are increasing their efforts to guarantee the supply of fertilizers and additives. Players in the global Ammonium Sulfate Market are keeping a close eye on the post-COVID-19 scenario and are expected to attempt to adjust as necessary.
Market participants are embracing financial flexibility by placing an emphasis on issues such as debt management. According to analysts, during the recent pandemic, the players in the Ammonium Sulfate Market are able to maintain their stability owing to a robust supply chain and financial flexibility. - Fertilizers contain chemicals such as sulfur and nitrogen. Hence, rise in consumer demand for fertilizers is driving the global Ammonium Sulfate Market. The fertilizers segment accounted for significant market share in 2020. The segment is expected to expand at a CAGR of 5.8% from 2021 to 2031. The chemical is mostly utilized to lessen the acidity of alkaline soils due to high pH levels.
The product includes sulfur and nitrogenous components, which plants utilize to make proteins. Furthermore, the chemical is extensively utilized for flooded soils used for rice farming, since nitrate-based fertilizers are a bad choice, as these could cause leaching and denitrification
Global Ammonium Sulfate Market: Key Players
Key players in the global Ammonium Sulfate Market
- ArcelorMittal S.A.
- General Chemical Corporation
- Honeywell International
- Evonik Industries AG
- Arkema S.A.
- BASF SE.
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Global Ammonium Sulfate Market: Segmentation
Form
- Solid
- Liquid
Application
- Fertilizer
- Additive (Pharma and Food)
- Water Treatment
- Flame Retardant
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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