The global ammonium sulfate market is projected to touch a valuation of USD 3.44 billion by 2022, finds Grand View Research, Inc. Ammonium sulfate (AS) is an inorganic salt known for its use as a soil fertilizer. Its applications include cattle feed supplement, food processing, mining of earth metals, water treatment, and pharmaceuticals.
The market for ammonium sulfate is expected to reach around 29.81 million tons by 2022, growing at a 2.43% CAGR from 2015 to 2022. Rising population is expected to impel the demand for fertilizers and food. This, in turn, is predicted to drive market growth over the forecast period (2012 to 2022). The need to increase crop yield by focusing on the nutritional content is anticipated to influence market demand. Strict norms regarding production can pose a market challenge.
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U.S. ammonium sulfate market volume by application, 2012-2022, (Kilo Tons)
The development of granular, food-grade, and premium grade ammonium sulfate is expected to open up new avenues for producers. The establishment of plants to produce ammonium sulfate will be beneficial to farmers who use it as a source of nitrogen for their plants. For instance, ThyssenKrupp started a new plant in 2017 to produce AS in granular form rather than its crystalline or liquid form. Similarly, the Great Plains Synfuels plant by the Dakota Gasification Company started its operations in 2018 to cater to demand for urea. Extraction of rare elements and reduced levels of carbon dioxide with the help of AS are the avenues yet to be explored.
The ammonium sulfate market is segmented by product, application, and region. By product, the market is bifurcated into liquid and solid. Major applications include industrial use, food additives, fertilizers, and others.
Regions covered in the market report include Central and South America (CSA), North America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC). CSA is anticipated to capture over 17% share of the global market by 2022 due to high demand from Brazil. The North America market may enjoy a steady growth during the same period due to high usage of ammonium sulfate in baked goods and confectioneries. Manufacturers in the market are focused on producing granular high-quality AS and vaccines to cater to various industries.
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The APAC region had dominated the ammonium sulfate market with more than 35% share in 2014. Government initiatives to increase crop yield via sustainable farming techniques is expected to augment market from 2015 to 2022. Countries such as Vietnam, Indonesia, and Malaysia are anticipated to experience good growth during the forecast period. The China market is driven by the increased use of caprolactam required for ammonium sulfate production. Demand for coke-oven gas (COG) and emission based production methods from Africa are other factors that may bode well for the market. Although, the import tariffs on goods have deterred product sales in the U.S., India, and Mexico, sales continue to see an uptick in Africa.
The Europe market is predicted to witness a steady growth rate due to increased use of AS in maintaining lawns and home gardens. In addition, its use as a baking additive can lead to constant demand over the forecast period. The MEA market is anticipated to experience windfall due to high demand for aluminum from South Africa. Producers in South Africa are using AS to extract aluminum from South African coal fly ash via a thermochemical process.
Key players operating in the global ammonium sulfate market include BASF Antwerpen; Royal DSM; Domo Chemicals NV; Sumitomo Chemical Co., Ltd.; and Honeywell International Inc. Partnerships and collaborations are some of the major strategies used by most players to maintain their foothold in the market. For instance, in 2015, Royal DSM formed ChemicalInvest to become one of the leading suppliers of caprolactam and further streamline the production supply chain.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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