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Global Ammonium Sulfate Market Analysis – 2018-2027
Ammonium sulfate is an ammonium salt used in the agricultural industry as a nitrogen fertilizer. There are several other commercial applications of ammonium sulfate, which includes applications in pharmaceutical, animal feed, food processing and textile dyeing amongst others. It is also used as a sulfur and nitrogen supplement in fertilizers. The global ammonium sulfate market is anticipated to record a CAGR of around 3% over the forecast period, i.e. 2018-2026. Factors such as rising demand for fertilizers for production of crops, backed by the need to mitigate the challenge observed by farmers to cultivate crops in a limited arable land so as to meet the demand of food required by the increasing population around the world are some of the factors anticipated to drive the growth of the global ammonium sulfate market. Additionally, growing cultivation of rice around the world along with growing trends of the increasing use of bio-based fertilizers for cultivation are some of the factors anticipated to contribute significantly towards the growth of the global ammonium sulfate market. According to the statistics of the Food & Agricultural Organization (FAO) of the United Nations, an increase by 15856 thousand tonnes in the global demand for fertilizers is anticipated in-between the years 2016-2022.
The global ammonium sulfate market consists of various segments that are segmented by product form, application and by region. The product form segment is further sub-divided into solid and liquid, out of which, the solid segment is anticipated to hold the largest market share by the end of 2027, backed by the increasing use of powdered and granular form of ammonium sulfate as fertilizers. The segment was further valued at around USD 2600 million in the year 2017 and is anticipated to attain an absolute $ opportunity of around USD 780 million in-between 2017 and 2026.
Based on region, the global ammonium sulfate market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Europe, which was valued at around USD 510 million in the year 2017 is anticipated to gain a CAGR of around 1.50% during the forecast period.
Some of the affluent industry leaders in the global ammonium sulfate market are Sumitomo Chemical Co. Ltd., Nutrien Ltd., Evonik Industries AG, Lanxess, HELM AG, Domo Chemicals, Merck KGaA, DSM, Honeywell International Inc. and BASF SE.