Prominent Manufacturers Are Looking To Divest From Traditional Concepts of Production and Product to Invest In Pre-emptive Development of Products Such As Ammonium Sulfate for Water Treatment and Air Purification, a Trend Which Will Widen Future Growth Prospects
Seoul, South Korea, July 22, 2022 (GLOBE NEWSWIRE) -- The global ammonium sulfate market is forecast to expand at a 3.6% value CAGR from 2022-2032, reaching a valuation of US$ 4.9 Billion, concludes a recently concluded Fact.MR study. According to the report, the industry is poised to be valued at US$ 3.43 Billion by the end of 2022. Extensive applications in fertilizer and agrochemical manufacturing are expected to open opportunistic doors in the forthcoming decade.
From 2015 to 2021, sales of ammonium sulfate rose at a CAGR of 3.8%, closing in at a valuation of US$ 3.31 Billion. Ammonium sulfate is mainly produced as a by-product of caprolactam and coke oven processes. Caprolactam is widely used for the manufacturing of nylon fibers. Nylon fibers have a wide range of applications including textiles, carpets, industrial yarn, and fishing lines and nets.
For Critical Insights on Ammonium Sulfate Market, Request a Sample Report
Increasing customer traction from agriculture intensive economies coupled with favorable statutory regulations regarding use of alternative nitrate fertilizers are central drivers of ammonium sulfate adoption. Asian regions will play a vital role as developing countries in these regions witness increasing demand for agricultural products that employ ammonium sulfate as key fertilizers.
What is the Growth Outlook for Ammonium Sulfate in the Asia Pacific?
Asia Pacific region dominated the ammonium sulphate market by holding 34.8% of the share of the global market and is anticipated to continue its dominance during the forecast period. Increasing demand for agricultural yield and food crops due to the increasing population in China, India, Bangladesh, Indonesia, Pakistan, and Japan is expected to boost the demand for fertilizers and agrochemicals, further supporting regional growth. Additionally, the presence of an ample number of manufacturers in the region is likely to foster growth rate.
Constant innovations in the field are expected to create significant growth opportunities, accounting for more than a quarter of the total market value. This region's developing economies are experiencing a rapid increase in food consumption, which is causing an increase in agricultural production and a need for more ammonium sulfate.
To learn more about Ammonium Sulfate Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=4544
Key Segments Covered in the Ammonium Sulfate Industry Survey
Food & Feed Additives
Middle East & Africa
The ammonium sulfate market is highly competitive, with major international brands focusing on long-term relationships with end-users. With the expansion of water treatment operations and the expansion of the pharmaceutical sector, competition is expected to increase in the coming years.
In 2019, Arkema has completed its acquisition of Arrmaz, a producer of specialty surfactants for crop nutrition, infrastructure, and the mining industry. This acquisition is another step forward in Arkema's journey toward specialty chemicals, and it is expected to strengthen the company's product profile.
In April 2019, the four leading producers, namely BASF, Domo Chemicals, Lanxess, and Fibrant, joined forces to form Ammonium Sulfate Producers Europe (ASPE) under the guidance of the European Chemical Industry Council (Cefic) to promote the benefits of their products.
Get Customization on Ammonium Sulfate Market Report for Specific Research Solutions
Key players in the Ammonium Sulfate Market
Key Takeaways from Ammonium Sulfate Market Study
By form, solid ammonium sulfate is expected to yield over 90% revenue in 2022
7 out of 10 ammonium sulfate product sales to occur in the fertilizer manufacturing industry
Asia Pacific to emerge as the most lucrative ammonium sulfate manufacturing hub, accumulating 34.8% revenue
Europe to be the 2nd most opportunistic market, flourishing at a CAGR of 4% until 2032
Global ammonium sulfate market to expand 1.3x from 2022 to 2032
Fact.MR’s Domain Expertise in Chemicals and Materials Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals and materials division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
Explore More Chemical and Materials Industry Reports:
Hard Coatings Market- The global hard coatings market revenue topped US$ 750 Million in 2020, in spite of recessionary impacts induced by the COVID-19 pandemic. Sales remained high amid high uptake in the food processing industry. Future prospects are likely to receive significant nudge, with the market anticipated to reach a valuation exceeding US$ 1 Billion by 2031.
Automotive Ceramics Market- The market for automotive ceramics experienced steady growth until 2020, closing in at approximately US$ 2 Billion amid high deployment across several automotive allied industrial domains, most notably across electronics manufacturing. A new forecast by Fact.MR anticipates demand for automotive ceramics to expand 1.4X from 2021 to 2031.
Solid State Battery Market- In 2020, the global Solid State Battery Market were valued at US$ 56.9 million. At around 30% CAGR, projected market growth during 2021 - 2031 is expected to be significantly higher than previous years. By 2031, the market for portable solid state batteries is expected to account for an absolute dollar opportunity of nearly US$ 911 Million.
Super Absorbent Polymers Market - Detailed industry analysis reveals that worldwide super absorbent polymer consumption is predicted to increase at 4.9% CAGR to reach a valuation of US$ 9.7 Billion by 2032.
Paper Dyes Market- The global paper dyes market is slated to experience modest growth through 2021 and beyond, with worldwide revenue having surpassed US$ 950 Million as of 2020. A new forecast by Fact.MR estimates that paper dye revenues will increase at a decade-long CAGR of over 2%.
Automotive Ceramics Market- The market for automotive ceramics experienced steady growth until 2020, closing in at approximately US$ 2 Bn amid high deployment across several automotive allied industrial domains, most notably across electronics manufacturing. A new forecast by Fact.MR anticipates demand for automotive ceramics to expand 1.4X from 2021 to 2031.
Solid State Battery Market- In 2020, the global Solid State Battery Market were valued at US$ 56.9 million. At around 30% CAGR, projected market growth during 2021 - 2031 is expected to be significantly higher than previous years. By 2031, the market for portable solid state batteries is expected to account for an absolute dollar opportunity of nearly US$ 911 Mn.
Stone Paper Market- Recently released stone paper business analysis by Fact.MR, a market research and competitive intelligence provider, reveals that the market is estimated to grow 1.8X by the end of 2031. Advertising and marketing captures a lion’s share of the demand for stone paper with 1.5% Y-o-Y growth in FY2020 as compared to FY2019.
Biofuels Market- Newly-released biofuels industry analysis by Fact.MR reveals that global revenue from the sales of biofuels in 2020 was US$ 134 Bn. The industry is likely to expand at a CAGR of 4.8% during 2021 – 2031. Bioethanol is expected to be the highest revenue generating segment, accounting for an absolute dollar opportunity of nearly US$ 53.6 Bn over the next ten years.
Aerospace Composites Market- Aerospace Composites Industry analysis shows that the global market was valued at US$ 32 Bn in 2020, and is projected to top US$ 56 Bn by 2031, expanding at an impressive CAGR of 9% across forecast period as per Fact.MR's report.
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.