Market Research Future (MRFR) recognizes Royal DSM (The Netherlands), Honeywell International Inc (US), BASF SE (Germany), Sumitomo Chemical Co., Ltd (Japan), Merck KGaA (Germany), Evonik Industries AG (Germany), and LANXESS (Germany) as the key players in the global ammonium sulfate market.
The global ammonium sulfate market is estimated to be valued at USD 616 million by 2027 and is expected to register a CAGR of 5.52% during the forecast period.
The solid segment dominated the global market owing to the increasing use of powdered and granular ammonium sulfate as fertilizers. It helps to increase the yield of crops, which is expected to drive the product demand. It acts as a food additive and nutrient for bacterial cultures in wastewater treatment.
By application, the fertilizer segment accounted for 87.8% of the global market share in 2017 and is expected to register a substantial CAGR during the review period.
The growth of the industrial use segment is driven by wide applications of ammonium sulfate in fire extinguisher powder, flame retardant, and in the production of persulfates and metals. The growth in the number of manufacturing industries has a strong correlation with the index of industrial production, which is largely driven by economic activities. The economic reforms and strong industrial growth in emerging countries such as Malaysia, Thailand, Indonesia, India, and China are expected to propel the demand for ammonium sulfate. The industrial use segment is estimated to reach a value of USD 210.4 million by the end of the review period.
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The global ammonium sulfate market has been segmented on the basis of product type, application, and region.
On the basis of product type, the global market has been categorized into solid and liquid. Among these, the solid segment dominated the market in 2017. The growth is attributed by the unique properties of ammonium sulfate, which help to enhance the crops nutritional properties and yield. The most commonly used liquid fertilizers include nitrogen solution, anhydrous ammonia, and ammonium polyphosphate. The growing use of liquid ammonium sulfate as an alternative to aqueous ammonia is expected to boost the global market growth.
Based on the application, the global market has been segmented into fertilizers, industrial use, pharmaceutical, food & beverage, textile dyeing, and water treatment. The pharmaceutical segment is projected to showcase substantial growth owing to the increasing application of ammonium sulfate in the vaccine and water purification. Also, it helps by salting out proteins and contaminants during the purifying process. Thus, the growing medical industry in countries such as the US and Mexico is likely to boost the global market growth.
Geographically, the global ammonium sulfate market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific was the largest market for ammonium sulfate in 2017 and is expected to remain dominant during the review period. North America is growing with the CAGR of 2.14%, with the US being the major contributor. The decline in arable land and an increase in demand for food is the major factor for increasing the consumption of fertilizers and positively influencing the growth of the ammonium sulfate market in the region.
Key Findings of the Study:
Asia-Pacific accounted for the largest market share with China being the major contributor to the growth of the market.
Some of the prominent players in this market are BASF SE, Honeywell International Inc, Sumitomo Chemical Co., Ltd, Merck KGaA, Evonik Industries AG, and LANXESS, among others.
The key manufacturers are adopting expansion, collaborations, and product launches as growth strategies.
Global Ammonia Market-
Global Liquid Fertilizers Market-
Global Agrochemical Market-