Ammonium Sulfate Market Size is Expected To Boost USD 4.37 Billion By 2027 | Reports and Data
The ammonium sulfate market is projected to grow at a rate of 4.6% in terms of value, from USD 3.04 billion in 2019 to reach USD 4.37 Billion by 2027. The growing rate of the global population is likely to propel the growth of the ammonium sulfate market. At present, the worldwide population is growing at a rate of approximately 1.05% per year, and the average population increase is projected at 81 million individuals per year. The growing global population trend indicates an increasing demand for food, which is likely to increase in the range of 59.0% to 98.0% by 2050, and in turn, would drive the demand for ammonium sulfate as fertilizers to boost the crop yield.
Surging demand for nitrogenous fertilizers is one of the significant factors driving the growth of the market. Moreover, sulfur is garnering immense traction in the fertilizer market as an inevitable nutrient for plant growth attributed to its ability to aid in synthesizing enzymes, proteins, and chlorophyll, among others. It is considered to be very advantageous to an extensive range of crops comprising wheat, rice, vegetables, and potatoes, among others.
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Key participants include Sumitomo Chemical, Royal DSM, Honeywell International, BASF SE, Lanxess, Evonik Industries, ArcelorMittal SA, Helm AG, Novus International, and Akzo Nobel NV, among others.
Further key findings from the report suggest
- By product type, solid ammonium sulfate held a larger market share in 2019 and is likely to grow at a rate of 4.4% in the forecast period. The market dominance of this product type is attributed to its growing usage in the agriculture and food & beverage industry, owing to its high water-solubility.
- By distribution channel, the online distribution channel is projected to grow at a faster rate of 5.4% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
- By application, feed & food additives contributed to the largest market share in 2019 and is anticipated to grow at a rate of 4.8% in the forecast period. Ammonium sulfate is an inorganic chemical generally used solid form in baking, wine, sausage casing, and various other food items. Besides, it offers numerous advantages, such as dough stabilizing, dough strengthening & conditioning, bread quality enhancing, buffering, and yeast growth. Moreover, ammonium sulfate is widely used as feed for sheep and cattle.
- The market in the Asia pacific region dominated the market in 2019 and is likely to grow at a rate of 5.0% in the forecast period. The market dominance of the APAC region is attributed to the high demand for agricultural products as a result of several government initiatives in emerging economies, including India and China, to improve the crop yield, as well as the growing production and consumption of rice. Further, stable economic growth, urbanization, a growing population, and a rise in the level of the disposable income of people are other factors driving the market growth in the region.
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Product Type Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- Solid Ammonium Sulfate
- Liquid Ammonium Sulfate
Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- Feed & Food Additive
- Water Treatment
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
The Ammonium Sulfate market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Ammonium Sulfate market.
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Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
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