Ammonium Sulfate Market: Introduction
Transparency Market Research delivers key insights on the global ammonium sulfate market. In terms of revenue, the global ammonium sulfate market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global ammonium sulfate market.
The emergence of biofertilizers is likely to hamper the global ammonium sulfate market during the forecast period. The increase in demand for ammonium sulfate as fertilizer and additive in pharma and food applications is estimated to drive the global ammonium sulfate market over the next decade, as ammonium sulfate is extensively employed in agriculture and food industries.
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Ammonium Sulfate Market: Dynamics
The demand for ammonium sulfate is increasing for the manufacture of agriculture products. Ammonium sulfate plays a major role in the agriculture industry. It is employed as a fertilizer in crop production to achieve better yield. The expansion of the fertilizer industry in developed and developing economies is driving the global ammonium sulfate market.
Ammonium sulfate is an important ingredient used as food additive. It is an inorganic salt, and can be used as stabilizer, buffering agent, bread enhancer, and dough strengthener. Therefore, it is commonly added to bakery and confectionery products. Food additives are widely used in the food industry. Ammonium sulfate is used as an acidity regulator in food. It is also employed in the manufacture of sausage casings, wine production, bread and pasta products, and baker’s yeast fermentation. This is estimated to boost the global ammonium sulfate market during the forecast period.
The ammonium sulfate is extensively employed as agrochemical (including fertilizer). Modern farming methods mostly rely on agrochemicals for higher productivity and reduced crop loss, as incidences of crop infestation have increased across the globe of late. This is expected to drive the global ammonium sulfate market.
The ammonium sulfate is a flame retardant chemical that is applied to make combustible materials more resistant to fire. Flame retardants decrease the momentum of combustion and stop fire from scattering to other items. The growth of the textile industry is likely to create lucrative opportunities for the global ammonium sulfate market in the near future.
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The demand for bio-based products has been rising significantly since the past few years in developed and developing countries. Consumers are not just eating organic; they are incorporating them into their lifestyle. The demand for bio-based products is estimated to increase, as consumers consider organically grown food as a healthy and nutritious option to conventionally grown products. This is projected to drive the biofertilizers market. Thus, increase in the demand for biofertilizers can acts a restraint for the global ammonium sulfate market.
Ammonium Sulfate Market: Prominent Regions
Asia Pacific dominates the global ammonium sulfate market. Fertilizer and food sectors in this region are estimated to expand at a rapid pace between 2021 and 2031. This is expected to boost the demand for ammonium sulfate in Asia Pacific, as ammonium sulfate is widely used in agriculture and food industries.
China is anticipated to be a highly attractive country for ammonium sulfate in Asia Pacific during the forecast period. Food and agriculture sectors in China have been witnessing strong growth since the past few years, owing to the rise in income of the people in the country. This has boosted the demand for fertilizer and food additives, thus driving the ammonium sulfate market in China.
North America is likely to be another highly attractive region of the global ammonium sulfate market during the forecast period. The U.S. held major share of the ammonium sulfate market in North America in 2020. Investments in the agriculture sector have increased in the U.S. of late. This is driving the demand for ammonium sulfate in the agriculture sector in the country.
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Ammonium Sulfate Market: Key Players
Major players operating in the global ammonium sulfate market are BASF SE, Evonik Industries AG, Lanxess, Sumitomo Chemical, Honeywell International, Domo Chemicals, Arkema, OCI Nitrogen, Helm AG, ArcelorMittal S.A., Hawkins, Ube Industries, General Chemical, and Martin Midstream.
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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