Press release
Ammonium Sulphate Market expected to reach a valuation of US$ 5.9 billion by the end of 2031
Ammonium Sulphate Market
As per a study by FMI, the global ammonium sulphate market is exhibiting steady growth and is expected to reach a valuation of US$ 5.9 billion by the end of 2031. The market for ammonium sulphate is likely to grow at a CAGR of 4.1% through the forecast period 2021 to 2031.
As per a study by World Health Organization (WHO), over 1.5 million people died from diabetes in the year 2019. As ammonium sulphate plays a major role in protein purification for the production of insulin, the growing incidence of diabetes and increasing need for insulin will bolster the demand in the ammonium sulphate market.
According to the U.S. Food and Drug Administration (FDA) federal regulation codes, ammonium sulphate is proven safe to be used as an acidity regulator in flours and bread, thus, bolstering confectionery and bakery industries. This is expected to intensify the demand for ammonium sulphate.
Asia Pacific is dominating the global market and held dominant share of 29.03% in 2020. Increasing agricultural production, rise in confectionary food consumption and increasing dependency on nitrogen-based fertilizers are the key factors driving the growth in the region.
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"Global leaders in the ammonium sulphate market are increasingly investing in new technology for increasing production rate to cater to the rising demand for surface disinfectants amidst coronavirus outbreak," says the FMI analyst.
Key Takeaways
- The U.S. is leading the global market due to the rising demand for high utility of ammonium sulphate from the bakery & confectionery industry and increasing farming activities.
- Increasing demand for wood preservatives and better water treatment is spurring the growth of ammonium sulphate market in the U.K.
In Germany, the rising need for developing novel nitrogenous fertilizers to improve the fertility of the soil is bolstering the market growth in the country.
- China is leading the market in Asia Pacific, owing to the high demand for fertilizers due to the presence of the largest arable land in the world, 118.9 thousand hectares.
- Caprolactam-based production is dominating the segment on the back to increasing adoption for manufacturing nitrogenous and compound fertilizers.
Key Drivers
- Rising demand for nitrogen-rich fertilizers will fuel the demand for ammonium sulphate.
- Increasing demand for wood preservatives will escalate the market growth.
- Booming confectionery and bakery industry will create sales opportunities for ammonium sulphate.
- Growing need for better disinfection and water treatment will drive the market growth.
Key Restraints
- High toxicity of ammonium sulphate is a factor restraining the market growth.
- Risk of polluting the soil due to excessive use of ammonium sulphate hinders the growth of the market.
- Increasing environmental awareness and the non-eco-friendly nature of ammonium sulphate might affect the market growth negatively.
Competitive Landscape
Key players are focusing on expanding their manufacturing facilities to cater to the increasing demand for ammonium sulfate in various applications and forming long-term partnerships with end-users to strengthen their supply chain channels. For instance,
Evonik Industries AG, launched its new products lines named, "INFINAM TI 3100 L" and "INFINAM ST 6100 L", to deal with 3D printing using photopolymers in April 2021,
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In March 2021, Ube Industries announced that they have agreed to jointly build fueling stations and start the supply of ammonia marine fuel in Japan under a consortium of companies named Ube Industries, and Uyeno Transtech Co., Ltd.
Leading players profiled by FMI operating in ammonium sulfate market include:
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.
Ammonium Sulphate Market Segments
By Production Process
Caprolactam
Coke Oven Gas
Gypsum
Neutralization & Others
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
Website: https://www.futuremarketinsights.com
Reports: https://www.futuremarketinsights.com/reports/western-european-buyers-eying-asian-suppliers-for-uninterrupted-ammonium-sulphate-supply-market
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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