Agricultural Application of Compound Propels Ammonium Sulfate Market to Cater to the Massive Demand for Food Grains

The ammonium sulfate market contributed $2,775.7 million in revenue in 2021, and it is predicted to capture $4,847.9 million revenue in 2030, advancing at a rate of 6.4% in the near future. The dynamic nature of the industry with constant evolvement leads to market proliferation with numerous entities functioning in the global ecosystem that causes tremendous improvement.

Under the end-use sectors, technological advances such as a rise in the manufacturing capacity of companies, geographical expansions, and process innovations are projected to drive the ammonium sulfate market in the coming years in order to cater to the larger consumer base. The increasing dependence of the global farming community on various agricultural inputs such as pesticides and fertilizers is expected to surge the usage of advanced ammonium sulfate as a substitute of nitrogenous fertilizer.

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There is no substitute available in the market to replace the ammonium sulfate among agricultural fertilizers. Moreover, the usage of ammonium sulfate is limited to several crops only such as maize, and soybean, resulting in a minor threat of being replaced with a substitute. Moreover, the supplier bargaining strength for the compound is moderate, considering the integrated operations of the feedstock, sulfuric acid, and ammonia suppliers, and their rising penetration in the global agriculture sector.

Moreover, the availability of inexpensive raw materials such as ammonia, and sulfuric acid in the agrarian economies such as MEA, APAC, and LATAM lures the producers, and hence contributes to ammonium sulfate market expansion. In addition, corporations are increasingly investing to improve their operations, and increase their manufacturing capacities due to significant market potential in the mentioned regions.

The fertilizers capture the extensive ammonium sulfate market share, accounting for 60%, owing to the growing requirement for food grains due to the population explosion, along with the worldwide governments' initiatives to subsidize the fertilizers resulting in a surge in its consumption in the agriculture sector. In addition to this, the worldwide expansion of the pharmaceutical industry, more specifically in North America, APAC, and Western Europe, results in the surge in consumption of ammonium sulfate, supported by the medicinal research of major pharmaceutical companies.

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North America captures the largest ammonium sulfate market share, due to the region being among the significant agricultural hubs and homogenous to the farmer role. It has sufficient water, fertile land, and infrastructure with entrepreneurial farmers that provide a competitive advantage to the region. In addition, the U.S. is the significant fertilizer producer in the region, owing to the massive production of ammonium sulfate and urea.

Therefore, the agricultural application of ammonium sulfate propels the market, due to the increased requirement to high yield crop production.

Browse more reports:

Ammonium Phosphate Market Report - https://www.psmarketresearch.com/market-analysis/ammonium-phosphate-market

Ammonium Chloride Market Report - https://www.psmarketresearch.com/market-analysis/ammonium-chloride-market

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