Ammonium Sulfate Market Size – USD 3.04 billion in 2019, Market Growth – CAGR of 4.6%, Market Trends – Growing demand in food & feed additive
NEW YORK CITY, NY, UNITED STATES, November 11, 2021 /EINPresswire.com/ — Growing demand for ammonium sulfate in agriculture is one of the significant factors influencing the market growth.
The global ammonium sulfate market is expected to reach USD 4.37 Billion by 2027, according to a new report by Reports and Data. Growing demand for fertilizers for high crop yield is one of the significant factors influencing the market growth. Fertilizers allow farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Fertilizers are formulated to support the yield of certain plants by allowing the plants to absorb the essential macro and micronutrient easily. The worldwide demand for fertilizers has witnessed a decent pace of growth, with the demand being more than 138 million tons in the year 2000 and rose to around 210 million tons in the year 2019. Ammonium sulfate is an extensively used nitrogenous fertilizers for the production of crops. It’s particularly essential where both nitrogen and sulfur are required in numerous agricultural applications.
Surging use of ammonium sulfate in the biochemistry and pharmaceutical industry is driving the growth of the market. The pharmaceutical industry implements ammonium sulfate for purification of water and in the production of vaccines. The chemical is beneficial in salting-out surplus contaminants and proteins. Ammonium sulfate is used in the selective precipitation of protein purification, as well as is deployed in the synthesis of enzymes by providing necessary nutrients to the microorganisms
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The COVID-19 pandemic is having a significant impact on the chemicals & materials industry. Demand for chemicals is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Lack of free movement of the labor force required for the application of fertilizers in the agricultural fields is lacking, thereby hindering the growth of the market in the COVID-19 pandemic. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
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.
In April 2019, major ammonium sulfate producers, namely, Domo, BASF, Lanxess, and Fibrant, announced their decision to enter into a partnership and make Ammonium Sulphate Producers Europe (ASPE) within the backing of European Chemical Industry Council for joint promotion of the benefits of the group.
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For the purpose of this report, Reports and Data have segmented the global ammonium sulfate market on the basis of product type, distribution channel, and region:
Product Type Outlook
Solid Ammonium Sulfate
Liquid Ammonium Sulfate
Distribution Channel Outlook
Feed & Food Additive
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Market Report includes major TOC points:
Ammonium Sulfate market Overview
Global Economic Impact on Industry
Global Market Competition by Manufacturers
Global Production, Revenue (Value) by Region
Global Supply (Production), Consumption, Export, Import by Regions
Global Production, Revenue (Value), Price Trend by Type
Global Market Analysis by Application
Manufacturing Cost Analysis
Industrial Chain, Sourcing Strategy and Downstream Buyers
Marketing Strategy Analysis, Distributors/Traders
Market Effect Factors Analysis
Ammonium Sulfate market Forecast
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Conclusively, all aspects of the Ammonium Sulfate market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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