Global Ammonium Sulfate Market to be Driven by the Rising Application of the Product in the Agriculture Industry in the Forecast Period of 2022-2027
The new report by Expert Market Research titled, ‘Global Ammonium Sulfate Market Size, Share, Growth, Analysis, Report and Forecast 2022-2027’, gives an in-depth analysis of the global ammonium sulfate market, assessing the market based on its segments like products, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
Forecast CAGR (2022-2027): 3%
The growing demand for fertilisers in the agriculture industry owing to the global increase in the demand for food as a result of the increasing population, rising demand for clean-labelled food products, and rapid urbanisation, is driving the market growth. In addition to this, ammonium sufate is utilised in the food industry as a stabiliser, bread enhancer, buffering agent, and dough strengthener, among others. Hence, the rising demand for food additives and premium packaged food products is likely to boost the demand for ammonium sulfate in the forecast period.
Industry Definition and Major Segments
Ammonium sulfate is defined as a colorless crystalline salt having a molecular weight of 132.14 g/mol, and melting point between 235-280 degree Celsius. Ammonium sulfate is water soluble and is mainly utilised as a fertiliser. Furthermore, some major end use industries of the product include pharmaceutical, water treatment, and others.
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By product, the market can be bifurcated into:
Solid
Liquid
The significant applications of the product include:
Fertilisers
Pharmaceutical
Food and Feed Additives
Water Treatment
Others
The regional markets for ammonium sulfate include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
The rapid development of chemical plants and technological advancements in major end use industries of ammonium sulfate are anticipated to be the key market trends in the forecast period. In addition to this, the growing mergers and acquisitions by the leading manufacturers to enhance their production capabilities are likely to propel the demand for the product in the forecast period. Geographically, the Asia Pacific accounts for a significant share in the market owing to the rising demand for food in India, China, and others. This can be attributed to the presence of a large population in these countries and rising disposable income.
Key Market Players
The major players in the market are Lanxess AG, Evonik Industries AG, Sumitomo Chemical Co., Ltd., Honeywell International Inc., and Helm AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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