Ammonium Sulfate Market Segmentation by Application (Pharmaceuticals, Fertilizers, Water Treatment, Food & Beverages, and Others); and by Product Type (Liquid, and Solid)â€“Global Demand Analysis & Opportunity Outlook 2031
27 Oct 2022
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022...
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Global Ammonium Sulfate Market Highlights Over 2022-2031
The global ammonium sulfate market is estimated to grow at a ~6% CAGR over the forecast period, i.e., 2022 – 2031. Moreover, the market registered a revenue of approximately USD 3.0 billion in 2021. The growth of the market can be attributed to the rise in the utilization of fertilizers in the agriculture sector. As per the World Bank, global fertilizer consumption has increased to 136.8 kilograms per hectare of arable land in 2018 from 71 kilograms per hectare of arable land in 1976. Moreover, the property of getting easily dissolved in the water and blending with other fertilizers is anticipated to surge the growth of the global ammonium sulfate market.
The COVID-19 pandemic had a negative impact on the global ammonium sulfate market. Furthermore, the supply of raw materials was disturbed owing to the restrictions imposed by the government. In addition, there was a decrease in the demand for ammonium sulfate from the customers and a decline in the supply from the manufacturers.
The global ammonium sulfate market is segmented by product type into liquid and solid. Out of these, the solid segment is anticipated to hold the largest share over the forecast period in the global ammonium sulfate market. This can be attributed to its dissolving property that can be easily mixed with many options available, such as crystals, powder, granules, capsules, and others. Moreover, there has been an increase in the demand for ammonium sulfate for fertilization purposes by farmers.
Global Ammonium Sulfate Market Regional Synopsis
Regionally, the global ammonium sulfate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of the rise in the demand for fertilizers in the agriculture sector. Moreover, countries such as India and Sri Lanka consider agriculture under the primary sector in their economy. As per the World Bank, in India, fertilizer consumption has increased from 175 kilograms per hectare of arable land in 2018 to 2.2 kilograms per hectare of arable land in 1961. In addition, there has been increasing in the demand for food crops owing to the rise in the percentage of the population in countries such as China and India which is anticipated to boost the demand for fertilizers. Moreover, the government is providing subsidies to the people working in agriculture that is further expected to drive the growth of the ammonium sulfate market in the Asia Pacific region.
Our in-depth analysis of the global ammonium sulfate market includes the following segments:
Food & Beverages
By Product Type
Growth Drivers and Challenges Impacting the Growth of the Global Ammonium Sulfate Market
Rise in the utilization of fertilizers in the agriculture sector
Dissolvable and blending property of ammonium sulfate
Harmful effect on the health of humans
Side effect of ammonium sulfate on the environment
Key Companies Dominating the Global Ammonium Sulfate Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global ammonium sulfate market that are included in our report are Merck KGaA, Evonik Industries AG, Honeywell International Inc., BASF SE, LANXESS, NOVUS INTERNATIONAL, Sumitomo Chemical Co., Ltd., EuroChem Group, ArcelorMittal, Fibrant., and others.
Latest Developments in the Global Ammonium Sulfate Market:
5 May 2022: Evonik Industries AG launched its Applied Technology Center in Brazil, Sao Paulo, Americana to provide new facilities that will expand local capabilities for developing biocompatible solutions for sustainable agriculture.
7 July 2021: Fibrant, and DSM announced the task completion of major reduction in CHG emission by July 2021 through implementing several technology improvements.
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The report includes detailed company profiles of the major players dominating the market.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
Rise in the utilization of fertilizers in the agriculture sector and dissolvable and blending property of ammonium sulfate are the major factors driving the growth of the ammonium sulfate market.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022-2031.
Harmful effect on the health of humans and side effect of ammonium sulfate on the environment are estimated to hamper the market growth.
Which region will provide more business opportunities for growth of ammonium sulfate market in future?
Asia Pacific region will provide more business opportunities for growth of ammonium sulfate market in future.
The major players in the market are Merck KGaA, Evonik Industries AG, Honeywell International Inc., BASF SE, LANXESS, NOVUS INTERNATIONAL, Sumitomo Chemical Co., Ltd., EuroChem Group, ArcelorMittal, Fibrant, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, application, and by region.
Which segment captures the largest market size in product type segment in the ammonium sulfate market?
The solid segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
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- Merck KGaA
- Evonik Industries AG
- Honeywell International Inc.
- BASF SE
- NOVUS INTERNATIONAL
- Sumitomo Chemical Co.Ltd.
- EuroChem Group