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Rising Demand For Agrochemicals Fuels The Ammonium Sulfate Market: Strengthening the Growth Trajectory of the Ammonium Sulfate Market
Ammonium Sulfate Market
What Is the Expected CAGR for the Ammonium Sulfate Market Through 2025?
The market for ammonium sulfate has been experiencing robust growth in the past few years. The market is projected to increase from a value of $3.88 billion in 2024 to approximately $4.19 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.9%. The expansion during the historical period could be linked to factors such as the economic upswing, increasing need in agriculture, governmental financial aid, demographic growth, and the growth of the chemical industry.
What's the Projected Size of the Global Ammonium Sulfate Market by 2029?
The market size for ammonium sulfate is projected to experience significant growth in the upcoming years, reaching a value of $6.1 billion in 2029 with a compound annual growth rate (CAGR) of 9.8%. Factors contributing to the growth during the forecast period include enhanced crop production, stringent environmental regulations, concerns related to food security, a burgeoning pharmaceuticals industry, and an increase in disposable income. Major trends expected in this period include the use of biostimulants and micronutrients, creation of customized fertilizer blends, the advent of precision agriculture, partnerships and collaborations together with the adoption of sustainable agricultural practices.
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Top Growth Drivers in the Ammonium Sulfate Industry: What's Accelerating the Market?
The surge in agrochemicals' need is a significant propeller for the ammonium sulfate market. Utilized on farm lands, agrochemicals serve to improve the nutrient content of the soil and aid crop growth by exterminating detrimental pests. Around the world, agricultural societies are adopting more agrochemicals to boost crop productivity. Ammonium sulfate is frequently used on alkaline grounds as it releases ammonium ions when mixed with damp soil. This creates a small amount of acid which lowers the pH balance of the soil. For instance, in 2022, the Ministry of Commerce and Industry, a government department in India, reported an increase in agrochemicals export to $4897 million, a significant rise from $3579 million in 2021. As such, the burgeoning agrochemical demand is set to amplify the need for ammonium sulfate in the projected period.
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What Trends Will Shape the Ammonium Sulfate Market Through 2029 and Beyond?
The trend of engaging in research and development endeavors is becoming increasingly prevalent in the ammonium sulfate marketplace. In a bid to optimize the manufacturing procedure of ammonium sulfate, businesses are investing in research and development initiatives. For example, Alto University, a research institution based in Finland, has pioneered the NPharvest project in partnership with various stakeholders. This project allows for the recovery of substantial quantities of nitrogen and phosphorus, typically found in wastewater, in a manner that produces a phosphorus and calcium-rich slurry as well as a pure ammonium sulfate solution suitable to be employed as a fertilizer. The application of the NPHarvest technique in creating recycled fertilizer aids in the preservation of energy and natural resources by decreasing the volume of nutrients released into water bodies and reducing the need for energy and chemicals in aeration and wastewater treatment processes.
What Are the Main Segments in the Ammonium Sulfate Market?
The ammonium sulfate market covered in this report is segmented -
1) By Product: Solid, Liquid
2) By Application: Fertilizers, Pharmaceuticals, Food and Feed Additives, Water Treatment, Other Applications
Subsegments:
1) By Solid: Granular Ammonium Sulfate, Prilled Ammonium Sulfate, Powdered Ammonium Sulfate
2) By Liquid: Liquid Ammonium Sulfate Solution, Ammonium Sulfate Fertilizer Solutions
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Which Top Companies are Driving Growth in the Ammonium Sulfate Market?
Major companies operating in the ammonium sulfate market include 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, Honeywell International Inc., DSM-Firmenich AG, AdvanSix Inc., OCI Co Ltd., Nutrien Ltd., Rentech Inc., KuibyshevAzot PJSC, UBE Industries Ltd., Toray Industries Inc., China Petrochemical Development Corporation, China Petroleum & Chemical Corp (Sinopec), Solvay S.A., Grodno Azot OJSC, Public Joint Stock Company, PJSC Togliattyazot, JSC EuroChem Mineral and Chemical Company, PhosAgro, Achema AB, Dorogobuzh Public Joint Stock Company, Jiangsu Huaihe Chemical Co Ltd., HELM AG
Which Regions Will Dominate the Ammonium Sulfate Market Through 2029?
Asia-Pacific was the largest region in the ammonium sulphate market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ammonium sulfate market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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