Ammonium thiosulfate inhibits growth at a high agronomic rate of 250–5000 mg/kg soil, increasing the soil’s fertility. It reduces nitrification, the process by which ammonium is transformed into nitrate, which might lessen nitrate loss to the atmosphere and water. The ammonium thiosulfate market was expected to be worth close to US$ 345.4 million in 2022. By 2033, the same market is anticipated to have generated US$ 719.6 million, with a CAGR of 6.9% from 2023 to 2033.
The product yields rise by 9% to 11% whenever ammonium thiosulfate is applied to the soil, and the soil’s effectiveness is increased. According to the United Nations’ demographic agreement, the world’s population will expand by 40% to 9.15 billion people in 2050, necessitating a 70% increase in global food production. The need for nitrogen as well as phosphate-based fertilizers is anticipated to increase due to the rising demand for agricultural production worldwide. It is anticipated that there will be a large rise in demand for ammonium thiosulfate due to the growing need for additional nutrients within the soil.
Click to Request Sample Report and Drive Impactful Decisions! https://www.futuremarketinsights.com/reports/sample/rep-gb-13943
Thin layers of cadmium sulfide are formed when ammonium thiosulfate is added as a supply of sulfur for applications in electronics. It is applied to the processing of copper-gold ores in order to extract gold. It is also a component of photographic fixers, making it a rapid fixer that acts faster than fixers containing sodium thiosulfate. Ammonium thiosulfate has experienced a marked rise in demand from a variety of end-use sectors due to its expanding use in several applications, including agrochemicals, medicines, agriculture, water treatment, and the mining industry, among others.
Key Takeaways from the Market Study
- In East Asia, the liquid form sector is anticipated to make up more than 77.1% of the total volume consumed in 2023.
- From 2023 to 2033, revenues in the fertilizer category are anticipated to increase at a 4.7% CAGR.
- In North America, the industrial grade category is anticipated to make for around 97.2% of sales by 2022.
- Through 2033, India’s demand for ammonium thiosulfate is anticipated to grow at a 5.3% CAGR.
- The market for ammonium thiosulfate in the United States is anticipated to expand with over 4% CAGR from 2023 to 2033.
“The ammonium thiosulfate fertilizer trade has expanded significantly as a result of factors such as rising worldwide food demand and agricultural expansion in major areas such as South America, Europe, and Asia Pacific,” remarks an FMI analyst.
Competitive Landscape in the Ammonium Thiosulfate Market
Companies that sell ammonium thiosulfate are striving to form strategic alliances and partnerships with other producers in order to increase their product production and meet the demand of a growing patient base. Important firms are also developing new manufacturing facilities to increase their production capacity, particularly in the United States and Europe.
Prominent players in the ammonium thiosulfate market are:
- Tessenderlo Kerley, Inc.
- Koch Nitrogen International Sarl
- Kugler Co.
- Martin Midstream Partners
- TIB Chemicals AG
- Esseco Srl
- PCI Nitrogen
- Shakti Chemicals
Some key developments of the leading companies in this market are:
- Koch Fertilizers, LLC began construction of a 2-million-gallon ammonium thiosulfate (ATS) facility at its Fort Dodge facility in May 2021 to meet increased demand. The facility will be completed and functioning by December 2021.
- Tessenderlo Kerley successfully introduced Thio-Sul®, an ammonium thiosulfate solution fertilizer, on the Ukrainian agriculture market in 2022. Thio-Sul®’s extended sulfur nutrition benefits important broad-acre plants including corn, potatoes, rapeseed, and wheat while simultaneously enhancing the efficiency of nitrogen nutrition.
Elevate Your Business Today! Gain Critical Market Insights – Obtain the Report Now! https://www.futuremarketinsights.com/checkout/13943
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global ammonium thiosulfate market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the ammonium thiosulfate market, the market is segmented on the basis of fiber by form type(powder, liquid), grade(industrial grade, photo grade), end use(fertilizer, photochemical, mining), and across five major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East and Africa)
Ammonium Thiosulfate Market by Category
By Form Type:
- Powder
- Liquid
By Grade:
- Industrial Grade
- Photo Grade
By End Use:
- Fertilizer
- Photochemical
- Mining
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube