Rockville , Nov. 13, 2023 (GLOBE NEWSWIRE) -- A study published by Fact.MR, a market research and competitive intelligence provider, reveals that the global ammonium sulfate market is pegged at US$ 3.69 billion for 2024. Revenue from the sales of ammonium sulfate is projected to increase at a CAGR of 3.7% from 2024 to 2034. Increasing demand for ammonium sulfate in the formulation of nitrogenous fertilizers, used in the agriculture sector, is predicted to contribute to revenue streams.
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Rising adoption of modern farming practices is prompting ammonium sulfate manufacturers to increase their production capacities. In addition, shrinking cultivable land is predicted to positively influence demand for fertilizers.
- The Food and Agriculture Organization (FAO) provided data about the contribution of agricultural land to total land area globally. In 2018, the percentage of agricultural land reached 36.9% in 2018, which was 37% in 2017.
Adoption of ammonium sulfate as one of the popular food & feed additives is forecasted to contribute to market growth in the coming years. Moreover, its use in the removal of high levels of potassium is predicted to contribute to increased sales.
| Report Attribute | Details |
| Value Projection (2034) | US$ 5.31 Billion |
| Growth Rate (2024-2034) | 3.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 124 Tables |
| No. of Figures | 172 Figures |
Key Takeaways from Market Study
- Worldwide sales of ammonium sulfate reached US$ 3.56 billion in 2023.
- The global ammonium sulfate market is estimated at US$ 3.69 billion in 2024.
- Global demand for ammonium sulfate is forecasted to reach a market valuation of US$ 5.31 billion by the end of 2034.
- The market is predicted to expand at a CAGR of 3.7% from 2024 to 2034.
- Asia Pacific held 35% of global revenue share in 2023.
“Reduced cultivable land and growing crop demand with fast-paced urbanization is predicted to augment sales of ammonium sulfate in fertilizers,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- BASF SE
- Nouryon, Evonik Industries
- OCI Nitrogen
- Akamai
- SABIC
- Novus International
- Lanxess Corporation
- Honeywell International
- Sumitomo Chemical
- Royal DSM
- Domo Chemicals
- Stereos S.A.
- Helm AG
Demand for Ammonium Sulfate Increasing in Agriculture to Boost Crop Production
Asia Pacific accounted for 35% share of global market revenue in 2023. Growing demand for agricultural produce owing to the rising population in regional countries, including India, China, Pakistan, and Bangladesh, is contributing to the increased need for agrichemicals and fertilizers, thus driving market growth. In addition, the presence of several ammonium sulfate manufacturers in Asia Pacific is also fostering market growth opportunities.
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Winning Strategies
Prominent market players are resorting to acquisitions, mergers, etc., to expand their reach across geographies.
For instance:
- Domo Chemicals, in January 2020, acquired Performance Polyamides Business of Solvay to expand its product portfolio and industry expertise.
Country-wise Insights:
What's Holding US Suppliers of Ammonium Sulphate Secure in Their Position?
"Increasing Use of Ammonium Sulphate in Nitrogen Fertilisers for Cereal Manufacturing"
Because more and more people need nitrogen fertilisers to grow crops like wheat and maize, sales of ammonium sulphate are expected to rise sharply in the US. It is a well-liked nitrogen fertiliser used in the nation to produce crops.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the ammonium sulfate market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on form (solid, liquid), application (fertilizers, food & feed additives, pharmaceuticals, water treatment, textile dyeing), and sales channel (direct sales, indirect sales), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Explore More Related Studies Published by Fact.MR Research:
Zinc Sulphate Market: The global zinc sulphate market is valued to be US$ 1.9 billion in 2023 and it is anticipated to grow at a CAGR of 6.7% to reach US$ 3.7 billion by the end of 2033.
Magnesium Sulphate Market: The global magnesium sulfate market is set to enjoy a valuation of US$ 783.6 million in 2022 and further expand at a CAGR of 5.3% to reach US$ 1,351.2 million by the end of 2032.
Aluminium Potassium Sulphate Market: The global aluminium potassium sulphate market is set to estimate a valuation of US$ 49.4 million in 2023 and it is expected to grow at a CAGR of 5.1% to reach US$ 81.3 million by the end of 2033.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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