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Ammonium Sulfate Market Report 2023-2032: Production Analysis, Business Growth, Opportunity Assessment And Major Players | Lanxess, Arkema, Sumitomo Chemical, Domo Chemicals, Evonik Industries
Ammonium Sulfate Market
The Business Research Company's Ammonium Sulfate Global Market Report 2023 identifies increasing demand for agrochemicals as the major driver for the Ammonium Sulfate Market's growth in the forecast period. The agricultural communities across the globe are adopting to agrochemicals to increase the productivity of the crops. Ammonium sulfate is the most commonly used agrochemical for alkaline soils, since the ammonium ions are released when added to moist soil. As a result, a small quantity of acid is produced, reducing the soil's pH equilibrium. Furthermore, it contributes nitrogen, which promotes plant growth.
The global ammonium sulfate market size grew from $3.3 billion in 2022 to $3.54 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The ammonium sulfate market size is expected to grow to $4.43 billion in 2027 at a CAGR of 5.7%.
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Major competitors in the ammonium sulfate market are Lanxess, Arkema, Sumitomo Chemical, Domo Chemicals, Evonik Industries, Helm AG, Honeywell International, BASF SE, AdvanSix, Fibrant, Ube Industries, OCI Nitrogen, Martin Midstream, and Gujarat State Fertilizers and Chemicals (GSFC) .
A key trend in the Ammonium Sulfate Market includes Research and development activities. Organizations are undertaking research and development activities to achieve efficiency in the production process of ammonium sulfate. For instance, in 2020, Alto University, a Finland-based research university, has developed the NPharvest project in collaboration with different stakeholders. NPHarvest is a method that makes it possible to recover significant levels of nitrogen and phosphorus, which are found in wastewater, in a way that results in a slurry high in phosphorus and calcium and pure ammonium sulfate solution that can be used as fertilizer. Energy and natural resources can be conserved by using the NPHarvest process for manufacturing recycled fertilizer since it decreases the quantity of nutrients discharged into waterways and the amount of energy and chemicals needed for aeration and wastewater treatment.
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The Ammonium Sulfate Market is segmented -
By Product: Solid, Liquid
By Application: Fertilizers, Pharmaceuticals, Food and Feed Additives, Water Treatment, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Ammonium Sulfate Market.
The Business Research Company's "Global Ammonium Sulfate Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Ammonium Sulfate Market Include:
1. Executive Summary
2. Ammonium Sulfate Market Characteristics
3. Ammonium Sulfate Market Trends And Strategies
4. Ammonium Sulfate Market - Macro Economic Scenario
5. Ammonium Sulfate Market Size And Growth
……
26. Africa Ammonium Sulfate Market
27. Ammonium Sulfate Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ammonium Sulfate Market
29. Ammonium Sulfate Market Future Outlook and Potential Analysis
30. Appendix
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