Seoul, South Korea, July 22. 2022 (GLOBE NEWSWIRE) — The global ammonium sulfate market is expected to expand at a CAGR of 3.6% from 2022 to 2032, reaching a valuation of US$4.9 billion, concludes a recently concluded Fact. MR study. According to the report, the industry is expected to be valued at $3.43 billion by the end of 2022. Extensive applications in the manufacture of fertilizers and agrochemicals are expected to open opportunistic doors over the next decade.
From 2015 to 2021, ammonium sales sulfate rose at a CAGR of 3.8%, closing at a valuation of US$3.31 billion. Ammonium sulfate is mainly produced as a by-product of the caprolactam and coke oven processes. Caprolactam is widely used for the manufacture of nylon fibers. Nylon fibers have a wide range of applications including textiles, carpets, industrial yarns, lines and fishing nets.
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Increasing customer traction from agriculture-intensive economies coupled with favorable legal regulations regarding the use of alternative nitrate fertilizers are major drivers of ammonium sulfate adoption. Asian regions will play a vital role as developing countries in these regions are experiencing growing demand for agricultural products that use ammonium sulfate as key fertilizers.
What is the growth outlook for Ammonium Sulfate in Asia-Pacific?
The Asia-Pacific region dominated the ammonium sulfate market by holding 34.8% of the global market share and is expected to maintain its dominance during the forecast period. Rising demand for agricultural yield and food crops due to rising population in China, India, Bangladesh, Indonesia, Pakistan and Japan is expected to drive demand for fertilizers and agrochemicals , further supporting regional growth. Moreover, the presence of a large number of manufacturers in the region is likely to favor the growth rate.
The constant innovations in the field are expected to create significant growth opportunities, accounting for more than a quarter of the total market value. Developing economies in this region are experiencing a rapid increase in food consumption, leading to increased agricultural production and a need for more ammonium sulfate.
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Key segments covered by the Ammonium sulfate Industry survey
- By app
- Fertilizers
- Medications
- Food and fodder additives
- Water treatment
- Others
- By region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Competitive landscape
The ammonium sulphate market is highly competitive, with major international brands focusing on long-term relationships with end users. With the expansion of water treatment operations and the expansion of the pharmaceutical sector, competition is expected to intensify in the coming years.
- In 2019, Arkema finalized the acquisition of Arrmaz, a producer of specialty surfactants for crop nutrition, infrastructure and the mining industry. This acquisition is a new step in Arkema’s journey towards specialty chemicals and should strengthen the company’s product profile.
- In April 2019, the four main producers, namely BASF, Domo Chemicals, Lanxess and Fibrant, joined forces to form Ammonium Sulfate Producers Europe (ASPE) under the leadership of the European Chemical Industry Council (Cefic) to promote the benefits of their products. .
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The key players in the Ammonium sulfate Market
- BASF SE
- Evonik Industries
- nourion
- Akamai
- OIC Nitrogen
- SABIC
- Lanxess Corporation
- Novus International
- Sumitomo Chemicals
- Honeywell International
- Royal DSM
Main takeaways from Ammonium sulfate Market research
- By form, solid ammonium sulphate is expected to generate more than 90% of revenue in 2022
- 7 out of 10 ammonium sulfate product sales will occur in the fertilizer manufacturing industry
- Asia-Pacific to become the most lucrative ammonium sulfate manufacturing hub, accumulating 34.8% revenue
- Europe will be the 2nd most opportunistic market, flourishing at a CAGR of 4% until 2032
- Global Ammonium Sulfate Market to Grow 1.3x from 2022 to 2032
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