Ammonium Sulphate Market to Surpass 5.23 Billion by 2030 Drives Due to Growing Population’s Needs
SkyQuest projects that the ammonium sulphate market will attain a value of USD 5.23 billion by 2030, with a CAGR of 3.4% over the forecast period (2023-2030). The ammonium sulphate market for is experiencing a significant growth, primarily propelled by the rising demand for this compound in the formulation of nitrogenous fertilizers. Nitrogenous fertilizers containing ammonium sulphate are vital in enhancing crop yields in the agricultural sector. The agricultural industry relies on these fertilizers to optimize plant growth and improve agricultural productivity as the demand for food continues to increase to meet the growing population’s needs.
Westford USA, Aug. 09, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the usage of ammonium sulphate market in the industrial sector has been witnessing a significant increase owing to its various applications, such as flame retardants. For instance, when used as a flame retardant, ammonium sulfate raises the combustion temperature of burning materials and reduces the maximum weight loss rates. This leads to increased residue or char production, thereby enhancing fire safety.
Browse in-depth TOC on “Ammonium Sulphate Market”
- Pages – 242
- Tables – 64
- Figures – 75
The global ammonium sulphate market is primarily driven by its extensive usage in fertilizers, owing to its nitrogen and sulphur content. In addition, the chemical compound is widely employed to address the issue of high pH levels in alkaline soils by reducing their acidity. Furthermore, nitrogen and sulphur are crucial elements for protein synthesis in plants, so ammonium sulphate is essential in promoting healthy plant growth.
Prominent Players in Ammonium Sulphate Market
- BASF
- Evonik
- Sumitomo Corporation
- Lanxess
- Domo chemicals
- Arkema
- Fibrant
- Royal DCM
- Novus International
- ArcelorMittal
- Honeywell International
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Solid Segment is Expected to Dominate the Market Due to the Increasing Demand for Solid Ammonium Sulfate
Solid segment of the ammonium sulphate market emerged as the dominant segment, capturing a significant revenue share of over 91% in 2022. This dominance can be attributed to the increasing demand for solid ammonium sulfate. It exhibits easy solubility in water but remains non-dissolving in acetone or alcohol.
The markets in the Asia Pacific are projected to maintain their leading position and exhibit significant growth in the ammonium sulphate market during the forecast period. This dominance can be attributed to the presence of major crop-producing countries, particularly India. The market size in the region was estimated at USD 0.36 billion, reflecting the significant opportunities for growth and expansion in the coming years.
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Fertilizers Segment is Expected to Grow the Market Due to the Rising Usage of Fertilizer for Alkaline Soils
Fertilizers segment emerged as the leading revenue contributor, accounting for a substantial share of over 70% in 2022 in the ammonium sulphate market. The significant demand for ammonium sulfate in this segment can be attributed to its widespread use as a fertilizer for alkaline soils. In addition, this versatile compound offers the advantage of containing nitrogen and sulphur, essential nutrients for plant growth and development.
Regional markets in Europe are poised to demonstrate a substantial market share in the ammonium sulphate market during the forecast period. The region’s strong position can be attributed to various factors, including significant cereals production in the EU-27 countries.
A comprehensive analysis of the major players in the ammonium sulphate market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Ammonium Sulphate Market
- Recently, ThyssenKrupp Industrial Solutions, a leading industrial engineering and technology company, is crucial in developing a new chemical complex in Uzbekistan. This project aims to enhance the production of fertilizers and meet the growing demand for agricultural nutrients.
- Arkema, recently acquired Arrmaz, a renowned manufacturer of speciality surfactants catering to the crop nutrition, infrastructure, and mining sectors. This strategic acquisition marks a significant milestone in Arkema’s pursuit of expanding its expertise in speciality chemicals and strengthening its product portfolio.
Key Questions Answered in Ammonium Sulphate Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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