Ammonium Sulfate Global Market Report 2023
Major players in the ammonium sulfate market are Lanxess, Arkema, Sumitomo Chemical, Domo Chemicals, Evonik Industries, Helm AG, Honeywell International, BASF SE, AdvanSix, Fibrant, Ube Industries, OCI Nitrogen, Martin Midstream, and Gujarat State Fertilizers and Chemicals (GSFC).
New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ammonium Sulfate Global Market Report 2023" - https://www.reportlinker.com/p06325399/?utm_source=GNW
The global ammonium sulfate market grew from $3.3 billion in 2022 to $3.54 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The ammonium sulfate market is expected to grow to $4.43 billion in 2027 at a CAGR of 5.7%.
The ammonium sulfate market consists of sales of ammonium sulfate that is used as a food additive and as insecticide.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Ammonium sulfate is a white, odorless solid widely used as a soil fertilizer and for other agricultural uses.It is also used as a food additive, wood preservative, reagent, and others.
Ammonium sulfate refer to an inorganic salt obtained by a reaction of sulfuric acid and two equivalents of ammonia.
Asia-Pacific was the largest region in the ammonium sulphate market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the ammonium sulfate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main forms of ammonium sulfate are solid and liquid.The solid ammonium sulfate refers to ammonium sulfate, which is solid in the form.
The solid ammonium sulfate is commonly in the form of salt or powder, used as a fertilizer in agriculture. The main applications of ammonium sulfate include fertilizers, pharmaceuticals, food and feed additives, water treatment, and other applications.
The increasing demand for agrochemicals is driving the ammonium sulfate market.Agrochemicals are chemicals applied on agricultural land to enhance the soil’s nutrient content and promote crop development by eliminating harmful insects.
The agricultural communities across the globe are adopting to agrochemicals to increase the productivity of the crops.Ammonium sulfate is the most commonly used agrochemical for alkaline soils, since the ammonium ions are released when added to moist soil.
As a result, a small quantity of acid is produced, reducing the soil’s pH equilibrium.Furthermore, it contributes nitrogen, which promotes plant growth.
According to the report published by CARE Ratings, a credit rating, research and advisory committee, on agrochemicals industry in 2021, the technical grade agrochemical production increased by 11.9% in FY21. Thus, the rise in demand for agrochemicals is expected to boost the demand for ammonium sulfate during the forecast period.
Research and development activities are a key trend gaining popularity in the ammonium sulfate market.Organizations are undertaking research and development activities to achieve efficiency in the production process of ammonium sulfate.
For instance, in 2020, Alto University, a Finland-based research university, has developed the NPharvest project in collaboration with different stakeholders.NPHarvest is a method that makes it possible to recover significant levels of nitrogen and phosphorus, which are found in wastewater, in a way that results in a slurry high in phosphorus and calcium and pure ammonium sulfate solution that can be used as fertilizer.
Energy and natural resources can be conserved by using the NPHarvest process for manufacturing recycled fertilizer since it decreases the quantity of nutrients discharged into waterways and the amount of energy and chemicals needed for aeration and wastewater treatment.
In July 2022, Evonik Corporation is a German-based specialty chemicals has partnered with Interoceanic Corporation, a US-based company involved procurement and distribution of bulk chemical fertilizer and industrial chemicals.With this collaboration, Evonik aimed to provide Interoceanic Corporation with blueSulfate, a liquid ammonium sulphate (8-0-0-9) solution (IOC).
By distributing high-value byproducts of its methionine manufacturing network for crop fertilization through IOC, this partnership complements Evonik’s goal to concentrate on its core business in animal nutrition.
The countries covered in the ammonium sulfate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The ammonium sulfate market research report is one of a series of new reports that provides Ammonium sulfate market statistics, including ammonium sulfate industry global market size, regional shares, competitors with an ammonium sulfate market share, detailed ammonium sulfate market segments, market trends and opportunities, and any further data you may need to thrive in the ammonium sulfate industry. This ammonium sulfate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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