USD 3.82 billion
Report ID:
SQMIG15A2356 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
64
|Figures:
75
Ammonium Sulphate Market size was valued at USD 3.96 Billion in 2023 and is poised to grow from USD 4.09 Billion in 2024 to USD 5.41 Billion by 2032, growing at a CAGR of 3.4% during the forecast period (2025-2032).
Ammonium sulphate is an inorganic salt that has a variety of industrial applications. The chemical's most popular usage is as a soil fertilizer since it contains 21% (w/w) nitrogen and 24% (w/w) sulfur. The substance has also been utilized in flame retardant chemicals because, when employed as a flame retardant, it lowers the maximum weight loss rates, raises the temperature at which a material will burn, and increases the amount of residue or char that will be produced. The need for flavor-improving compounds has increased along with the demand for packaged goods and convenience foods. In turn, the rapid global stockpile fill-up during the lockdown increased demand from the food business. Sales of food production rose 14.8% year over year to $125 billion in 2019. The YoY sales rise is the highest ever reported (starting in 2019). Volume losses at grocery shops are mitigated by increased foodservice volumes and higher selling prices.
The growing need to replenish soil micronutrients in order to boost crop production and ensure higher yield is driving fertilizer manufacturers to create environmentally friendly ammonium sulphate fertilizers. By increasing the organic matter of the soil after the harvesting season, ammonium fertilizers can increase the amount of residue and the root biomass. By replacing the nitrogen and sulfur in the soil, this aids in preserving the soil's long-term fertility.
US Ammonium Sulphate Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.82 billion
Largest Segment
Solid
Fastest Growth
Solid
Growth Rate
3.4% CAGR
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Global Ammonium Sulphate Market is segmented by type, application and region. Based on type, the market is segmented into solid and liquid. Based on application, the market is segmented into fertilizers, pharmaceuticals, food & feed additives, water treatment, textile dyeing and other applications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Ammonium Sulphate Market Analysis by Product
With a revenue share of more than 90% in 2021, the stable category dominated the global ammonium sulphate market. An increase in demand for the solid category is to blame for this. Commonly known as an organic sulphate salt, ammonium sulphate is a white, odorless substance. It readily dissolves in water, but acetone or alcohol don't seem to have any effect on it. Due to their capacity to improve soil nutrient content and sulfur deficit, solid ammonium sulphate crystals are widely employed as fertilizers in alkaline soils across the world. The world's largest user of ammonium sulphate in agriculture is Mexico. 3.13 million tonnes of ammonium sulphate were used for agricultural purposes in Mexico as of 2019, making up 32.53 percent of the global total. 76.44 percent of it is made up of the top 5 nations (the others being the United States of America, Indonesia, Canada, and India). 9.61 million tonnes of ammonium sulphate were used globally in agriculture in 2019.
Commercially accessible in the form of a pale yellowish solution, the product's liquid form is known to be safe, stable, and non-hazardous. Applications for treating water frequently employ liquid ammonium sulphate solutions. Since alternatives to LAS, such as aqueous or anhydrous ammonia, have been shown to be dangerous and need adherence to a comprehensive set of standards for their transport and handling, the market for liquid ammonium sulphate (LAS) is predicted to experience substantial expansion.
Ammonium Sulphate Market Analysis by Application
In 2021, the fertilizers segment held the largest share of the global ammonium sulphate market. The market share for the fertilizers sector was 93.1 percent. The primary reason fueling the segment's expansion is an increase in demand for agricultural production owing to the rising population. In addition to driving up demand for nitrogen fertilizer, the advantages offered will also drive-up market expansion. According to the 2022 State of Food Insecurity in the World (SOFI) report, 828 million people were suffering from hunger in 2021, up roughly 46 million from 2020 and 150 million from 2019, when the COVID-19 pandemic broke out. Additionally, from June to September 2022, severe food insecurity might get worse in 20 countries or regions, according to the WFP and FAO.
But the government is taking various steps in order to meet this food requirement. For example, World Bank’s support to countries to alleviate food insecurity includes a $500 million Emergency Food Security and Resilience Promote Project to assist Egypt's initiatives to support changes that would help enhance nutritional results, boost Egypt's resilience to food crises, and guarantee that poor and vulnerable households have unhindered access to bread.
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With 34.8 percent of the worldwide market share, the Asia Pacific region led the global ammonium sulphate market and is expected to maintain its lead during the projection period. The growing population in China, India, Bangladesh, Indonesia, Pakistan, and Japan is predicted to increase the need for agricultural production and food crops, which will increase the demand for fertilizers and agrochemicals and sustain regional growth. Furthermore, a high concentration of firms in the area is likely to promote growth. The estimated population of Asia on July 1, 2021, will be 4.68 billion, or 4,679,660,580 people. Asia is by far the most populous continent, with nearly 3.5 times as many people as Africa, which is in second place. Before reaching a high in 2055 with 5.3 billion inhabitants, Asia will gain another 620 million people. Nearly a third of the world's population is found in Asia.
Due to its strong agricultural production, Europe owns a sizable portion of the global ammonium sulphate market. The EU-27 produced roughly 299 million tonnes of grains in 2019, according to data by Europa. The demand for ammonium sulphate is projected to increase due to strong manufacturing and a customer base for fertilizers. For instance, the EU produces 8% of the world's nitrogen fertilizers, 3% of phosphate fertilizers, and 6% of potash fertilizers. Additionally, information indicates that Europe consumed around 11 million tonnes of fertilizer in 2019.
In terms of value attributable to the strong demand for soil conditioning fertilizers, North America came in second to Europe. The use of soil conditioners, contemporary agricultural methods, and pH-maintaining fertilizers are all predicted to significantly increase the demand for ammonium sulphate. In addition, the Environmental Protection Agency's (EPA) strict rules are projected to increase demand for water treatment chemicals, which would help the global ammonium sulphate market to expand.
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Global ammonium sulphate market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, Evonik and Interoceanic Corporation have a contract in place for Evonik to provide blueSulphate, a liquid ammonium sulphate (8-0-0-9) solution, from its location in Mobile, Alabama (IOC). This arrangement supports Evonik's plan to use IOC to market high-value byproducts of its methionine production network for use as agricultural fertiliser while concentrating on its main business in animal nutrition. With a terminal network and multi-modal transportation fleet in North America, Interoceanic is a marketer of fertiliser and industrial chemicals that connects producers and end customers. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Ammonium Sulphate Market
Ammonium Sulphate Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Ammonium Sulphate Market Analysis, in terms of product, the solid segment held the largest market share due to an increase in demand for the solid category is to blame for this. Commonly known as an organic sulphate salt, ammonium sulphate is a white, odorless substance. In terms of application, the fertilizers segment held the largest share in the global ammonium sulphate market in 2021. The primary reason fueling the segment's expansion is an increase in demand for agricultural production owing to the rising population. And by region, Asia Pacific held the largest share in the global ammonium sulphate market due to the growing population in China, India, Bangladesh, Indonesia, Pakistan, and Japan is predicted to increase the need for agricultural production and food crops, which will increase the demand for fertilizers and agrochemicals and sustain regional growth.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 3.96 Billion |
Market size value in 2032 | USD 5.41 Billion |
Growth Rate | 3.4% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Ammonium Sulphate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ammonium Sulphate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ammonium Sulphate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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The fertilizer segment holds the largest share in terms of application in the ammonium sulfate market.
The ammonium sulfate market will grow at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030.
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Report ID: SQMIG15A2356
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