A recently published study by FMI anticipates the global ammonium sulfate market to grow at a 7.5% CAGR from 2022 to 2032, reaching a valuation of USD 6.18 billion by the end of this period. The increasing demand for ammonium sulfate is primarily driven by its extensive use in the agricultural sector. Additionally, its applications in the biopharmaceutical and cake and confectionery industries are contributing to market growth.
From 2017 to 2021, the industry saw significant growth, with a CAGR of 5%, reaching USD 2.79 billion. The COVID-19 pandemic further boosted demand for ammonium sulfate, given its widespread use in the production of disinfectants and surface cleaners. Furthermore, ongoing modifications to maximize the utility of ammonium sulfate are creating new opportunities for market expansion.
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The increasing use of ammonium sulphate in Europe for water retention purposes and for agriculture in Asia Pacific is further contributing to the market growth. Furthermore, the use of ammonium sulphate for wood preservation and soil retention is favoring the growth of the market. In the upcoming years, the dependency on ammonium sulphate is expected to increase by end user industries owing to its multi-purpose use.
Key Takeaways from the Market Study
- By production process, caprolactam is expected to hold 40% market share for ammonium sulphate in 2022.
- North America is expected to hold 45% for ammonium sulphate market in 2022.
- Asia Pacific is expected to possess 40% of market share for global ammonium sulphates market in the assessment period 2022-2032.
- Europe is expected to procure 35% of market share for ammonium sulphates market in the forecast period 2022-2032.
“The increasing use of ammonium sulphate in end user industries especially in the agricultural sector by different geographical locations is increasing the demand for the same.” – says an FMI analyst.
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Market Competition
Key players in the ammonium sulphate market are Koninklijke DSM N.V. (Fibrant), JSC KuibyshevAzot, UBE Industries Ltd, Toray Industries Inc., China Petrochemical Development Corporation, China Petroleum & Chemical Corporation (Sinopec Corp.), JSC “Grodno Azot”, Grupa Azoty, Domo Chemicals, Gujarat State Fertilizers & Chemicals Ltd, Sumitomo Chemical, Evonik Industries AG
- In August 2022, JSC “Grodno Azot” announced that it will be partially limiting the production of nitrogen fertilizer due to the increase in prices of natural gas.
- DOMO Chemicals, a key player in the ammonium sulphate market is focusing on producing the same sustainable and reducing their overall carbon footprint.
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More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global ammonium sulphate market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Production (Process Caprolactam, Coke Oven Gas, Gypsum, and Neutralization & Others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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