According to a new report by Reports and Data, the global ammonium sulfate market is projected to reach USD 5.84 billion by 2032. One of the significant factors driving market growth is the increasing demand for fertilizers to achieve higher crop yields. Fertilizers play a crucial role in enhancing agricultural productivity, enabling farmers to maximize the output of their land. They provide essential nutrients for plants to absorb, promoting healthy growth. The global demand for fertilizers has been steadily rising, reaching over 210 million tons in 2019 from around 138 million tons in 2000. Ammonium sulfate, a nitrogenous fertilizer, is extensively used in crop production, especially in applications requiring both nitrogen and sulfur.
The market growth is further fueled by the surging use of ammonium sulfate in the biochemistry and pharmaceutical industry. The pharmaceutical sector employs ammonium sulfate for water purification and vaccine production. This chemical compound aids in the removal of contaminants and proteins through salting-out processes. Additionally, ammonium sulfate is utilized in protein purification through selective precipitation and provides essential nutrients to microorganisms in enzyme synthesis.
The COVID-19 pandemic has had a significant impact on the chemicals and materials industry, including the ammonium sulfate market. Disruptions in global supply chains and reduced demand across various sectors have resulted in an oversupply situation. The movement restrictions imposed during the pandemic have hindered the application of fertilizers in agricultural fields due to a lack of available labor. However, it is expected that the market will gradually recover once the restrictions are lifted.
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Key findings from the report include:
- Solid ammonium sulfate held a larger market share in 2019 and is projected to grow at a rate of 4.4% during the forecast period. Its high water-solubility makes it suitable for applications in agriculture and the food and beverage industry.
- The online distribution channel is expected to grow at a faster rate of 5.4% from 2020 to 2032. The convenience and broader exposure provided by online platforms contribute to its accelerated growth.
- Feed and food additives accounted for the largest market share in 2019 and are anticipated to grow at a rate of 4.8% during the forecast period. Ammonium sulfate is commonly used in solid form in various food products, offering benefits such as dough stabilization, bread quality enhancement, and feed for livestock.
- The Asia Pacific region dominated the market in 2019 and is projected to grow at a rate of 5.0% during the forecast period. Factors such as government initiatives to improve crop yield, increased rice production and consumption, economic growth, urbanization, and rising disposable income are driving the market in this region.
- Key participants in the market include Sumitomo Chemical, Royal DSM, Honeywell International, BASF SE, Lanxess, Evonik Industries, ArcelorMittal SA, Helm AG, Novus International, and Akzo Nobel NV, among others.
- In April 2019, major ammonium sulfate producers, including Domo, BASF, Lanxess, and Fibrant, formed a partnership called Ammonium Sulphate Producers Europe (ASPE) under the backing of the European Chemical Industry Council to jointly promote the benefits of the group.
To summarize the key segmentation:
Product Type Outlook:
- Solid Ammonium Sulfate
- Liquid Ammonium Sulfate
Distribution Channel Outlook:
- Online
- Offline
Application Outlook:
- Fertilizer
- Pharmaceutical
- Feed & Food Additive
- Water Treatment
- Others
Ammonium Sulfate Market: Drive factors
The ammonium sulfate market is driven by several factors that contribute to its growth and demand. These driving factors include:
1. Increasing Demand for Fertilizers: The growing global population and the need to achieve higher crop yields have led to a rise in demand for fertilizers. Ammonium sulfate, being a nitrogenous fertilizer, is extensively used in agricultural applications to provide essential nutrients to plants and improve productivity.
2. Agricultural Productivity and Crop Yield: Fertilizers, including ammonium sulfate, play a vital role in enhancing agricultural productivity by improving soil fertility and supplying necessary macro and micronutrients to plants. They enable farmers to increase crop yields and maximize their agricultural output.
3. Benefits in Multiple Agricultural Applications: Ammonium sulfate offers specific advantages in various agricultural applications. It is particularly essential where both nitrogen and sulfur are required, making it a preferred choice for certain crops and soil conditions.
4. Use in Biochemistry and Pharmaceutical Industry: Ammonium sulfate finds applications in the biochemistry and pharmaceutical sectors. It is utilized for water purification, protein precipitation, and the synthesis of enzymes. The pharmaceutical industry relies on ammonium sulfate for the production of vaccines and purification processes.
Overall, the demand for ammonium sulfate is driven by the need for higher agricultural productivity, government support for agricultural development, and its diverse applications in the biochemistry and pharmaceutical industries.
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