Ammonium Sulfate Market Size & Forecast
The Ammonium Sulfate Market was valued at approximately USD 4.6 Billion in 2023 and is expected to grow at a robust CAGR of around 6.84% during the forecast period (2024-2032) owing to the increasing demand for agrochemicals, and taste-enhancing additives in the food industry primarily drives the market.
Ammonium Sulfate Market Analysis
The global ammonium sulfate market has been experiencing a steady growth rate of 6.84%, because of demand for nitrogen-based fertilizers, growth of agricultural operations, and a boost in the usage of nitrogen in the production industries. Due to the thriving population in the world, there continues to be pressure on agricultural yields. Ammoniac sulfate has 21% nitrogen content, and this makes it one of the most vital fertilizers for increasing crop production. For example, in April of 2024, Domo Chemicals began a new plant in China approximately two hundred kilometers southeast of Shanghai. This entailed the use of ~USD 15 million (14 million euros).
To grow in the global ammonium sulfate market, companies are adopting several strategic alliances to maintain a competitive edge. For instance, in July 2022, Evonik entered into an agreement to supply blueSulfate®, a liquid ammonium sulfate (8-0-0-9) solution from its site in Mobile, Alabama, to Interoceanic Corporation (IOC). This agreement supports Evonik’s strategy to focus on its core business in Animal Nutrition by marketing high-value co-products of its methionine production network for fertilizing crops via IOC.
Ammonium Sulfate Market Trends
This section discusses the key market trends influencing the ammonium sulfate segments as identified by our research experts.
Dry Type Transforming Industry
The dry form is easier to store than the wet form of the product and this makes it easier to transport across the country, making cost and time efficient for agricultural suppliers and users. Also, the dry form can be mixed with other granulated fertilizers: this is highly appreciated in intensive agricultural practices due to the homogeneity of the coatings. Current market trends reveal that dry ammonium sulfate in its granular form has also been adopted in precision farming strategies when it’s used as a high-analysis fertilizer with low risk to the environment. Also, there is more information concerning the depletion of sulfur in the soil across the world in the current world. For example, a paper published in “Agronomy” in 2022 explained that the amount of sulfur in the European agricultural ground is declining because of its deficiency, as the call for sulfur-containing fertilizers such as ammonium sulfate rises.
Asia Pacific Dominated the Market in 2023
The Asia Pacific ammonium sulfate market is rapidly growing due to the region’s extensive use of agriculture and the rising application of ammonium sulfate in industries. Farmers must use fertilizers to bring back or even improve soil fertility owing to the differences in climate in the areas and the different types of soil in the Asia-Pacific region. Being a compound containing nitrogen and sulfur in abundance, ammonium sulfate benefits crops in terms of yield. Governments are spending more on the processing and improvement of agricultural facilities and structures, which in turn is increasing the need for ammonium sulfate. For instance, China, Japan, Vietnam, and Thailand have decided to ensure agrarian productivity by introducing improved fertilizers. In addition, China is the top country in the world for ammonium sulfate export. As of 2021, ammonium sulfate export in China was 10.6 million tons, which accounts for 64.21% of the world’s ammonium sulfate export. The increasing population and the food crisis that has resulted from it put pressure on the farm sector, hence growing the ammonium sulfate market.
Ammonium Sulfate Industry Overview
The ammonium sulfate is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are BASF SE, Evonik Industries AG, LANXESS, Sumitomo Chemical Co. Ltd., Honeywell International Inc., Yunnan Yingfu Trading Co., Ltd., Arkema, OCI N.V., Fibrant, and Aarti Industries Ltd.
Ammonium Sulfate Market News
For instance, in 2023, Koch Industries acquired Iowa Fertilizer Co. to be a part of a broader consolidation trend and strategic investments in the flourishing fertilizer market.
For Instance, in 2022, The Fatima Fertilizer Company Limited (FATIMA) merged its associate company, Pakarab Fertilizers Limited, into FATIMA to consolidate its fertilizer business.
Ammonium Sulfate Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global ammonium sulfate can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Ammonium Sulfate Market Analysis (2024-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Ammonium Sulfate market were the three major steps undertaken to create and analyze the adoption of Ammonium Sulfate in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were taken into consideration to validate these insights. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Ammonium Sulfate market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Ammonium Sulfate market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the ammonium sulfate, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as type, application, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Ammonium Sulfate market. Further, we conducted factor analysis using dependent and independent variables such as type, application, and ammonium sulfate regions. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Ammonium Sulfate market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above three steps, we arrived at the current market size, key players in the global Ammonium Sulfate market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the ammonium sulfate across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global ammonium sulfate in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global ammonium sulfate. Data was split into several segments and sub-segments after studying various parameters and trends in the type, application, and regions of the global Ammonium Sulfate market.
The main objective of the Global Ammonium Sulfate Market Study
The current & future market trends of the global ammonium sulfate were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Ammonium Sulfate market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of type, application, and regions.
- Define and analyze the regulatory framework for the Ammonium Sulfate
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Ammonium Sulfate market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Ammonium Sulfate market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the global ammonium sulfate's current size and growth potential?
Q2: What are the driving factors for the growth of the global ammonium sulfate?
Q3: Which segment has the largest share of the global ammonium sulfate by type?
Q4: What are the emerging technologies and trends in the global ammonium sulfate?
Q5: Which region will dominate the global ammonium sulfate?
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