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Ammonium Sulfate Market 2024-2033: Competitor Assessment, New Trends, Share Analysis And Global Key Players | Lanxess AG, Arkema SA, Sumitomo Chemical Co Ltd., DOMO Chemicals GmbH, Evonik Industries AG.
Ammonium Sulfate Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the ammonium sulfate industry. This report on ammonium sulfate market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The ammonium sulfate market size has grown strongly in recent years. It will grow from $3.61 billion in 2023 to $3.91 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to economic growth, agriculture demand, government subsidies, population growth, rise in chemical industry.
The ammonium sulfate market size is expected to see strong growth in the next few years. It will grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to increasing crop yields, environmental regulations, food security concerns, rising pharmaceuticals sector, rise in disposable income. Major trends in the forecast period include biostimulants and micronutrients, customized fertilizer blends, precision agriculture, partnership and collaboration, sustainable agriculture practices.
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Key Market Players:
Lanxess AG, Arkema SA, Sumitomo Chemical Co Ltd., DOMO Chemicals GmbH, Evonik Industries AG, Badische Anilin- & Sodafabrik SE, GAC Chemical Corporation, G. Frederick Smith Chemical Company,
Market Drivers:
According to the Ammonium Sulfate Market Report 2024 by The Business Research Company, the rise in demand for agricultural products is expected to propel the growth of the ammonium sulfate market going forward. Agricultural products refer to any agricultural commodity or product, whether raw or processed, that includes any commodity or product that is derived from livestock. Ammonium sulfate is a widely used fertilizer in agriculture, particularly for crops that require a source of both nitrogen and sulfur. For instance, in June 2022, according to the Food and Agriculture Organization of United Nation, an Italy-based specialized agency, increased wheat demand in Africa was anticipated to lift the continent's wheat purchases to 54.0 million tons in 2022-23, which increased by 2.6 million tons (5%) from 2021 to 22. Furthermore, according to Harvard Business Review, a management magazine published by Harvard Business Publishing, food demand is expected to increase anywhere from 59% to 98% by 2050. Therefore, the rise in demand for agricultural products is driving the growth of the ammonium sulfate market.
More information about the Global Ammonium Sulfate Market Report -
https://www.thebusinessresearchcompany.com/report/ammonium-sulfate-global-market-report
Market segments for template include:
1) By Product: Solid, Liquid
2) By Application: Fertilizers, Pharmaceuticals, Food and Feed Additives, Water Treatment, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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