Ammonium Sulfate Market To Expand With Rising Demand for Fertilizers for Crop Production By A CAGR of Around 3% Throughout 2018-2026

Research Nester has released a report titled Ammonium Sulfate Market – Global Demand Analysis & Opportunity Outlook 2026” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

The Food & Agricultural Organization (FAO) of the United Nations, in one of its statistics stated that global demand for fertilizers, namely nitrogen, phosphorus and potassium (in total), is forecasted to grow up to 200919 thousand tonnes from 185063 thousand tonnes in-between the years 2016-2022.

The statistics portray the rising demand for fertilizers on the back of increasing population around the globe which is raising the need amongst the farmers to increase their crop productivity so as to meet the demand of crops with the challenge of growing crops in a limited available arable land. Fertilizers are increasingly used by farmers to increase soil fertility so that they can raise the yield. Fertilizers contain primarily two key constituents, namely nitrogen and sulfur. Fertilizers are manufactured by using ammonia as ammonium sulfate-based fertilizers are made up of 21% nitrogen and 24% sulfur. This provides an added advantage to use ammonia-based fertilizers over other substitutes. Moreover, ammonium sulfate is produced as a by product during the oxidation process of caprolactam. As there is a rising demand for the chemical as well as numerous capacity addition have been made worldwide to increase the production of the chemical, such factors are anticipated to drive the growth of the global ammonium sulfate market.

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The global ammonium sulfate market is anticipated to grow at a CAGR of around 3% during the forecast period, i.e. 2018-2026. The market is thriving on the back of growing cultivation of rice around the world along with growing trends of the increasing use of bio-based fertilizers for cultivation. Additionally, the global ammonium sulfate market is further predicted to reach a value of around USD 4400 million in the year 2026 from USD 3400 million in the year 2017.

Geographically, the global ammonium sulfate market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, Asia Pacific is anticipated to hold the largest market share by the end of 2026 on account of increasing cultivation of rice in the nations such as China, India and Japan, where majority of these nations are densely populated requiring the need to focus on increasing the crop productivity within the limited available arable land. The market in the region is further anticipated to grow from around USD 1400 million in the year 2017 to around USD 1900 million by the end of 2026by growing at a growth rate of around 1.36x during the assessment period. Additionally, Asia Pacific held a market share of around 41% in the year 2017 in the global ammonium sulfate market.

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However, concerns for the fact that ammonium sulfate accounts for nearly 4% of the total demand for nitrogen-based fertilizers, which might raise the need to use substitutes that are available in the market are some of the factors estimated to act as a barrier to the growth of the global ammonium sulfate market.

This report also studies existing competitive scenario of some of the key players of the global ammonium sulfate market, which includes profiling of Sumitomo Chemical Co. Ltd. (TYO: 4005), Nutrien Ltd. (TSE: NTR), Evonik Industries AG (ETR: EVK), Lanxess (ETR: LXS), HELM AG, Domo Chemicals, Merck KGaA (ETR: MRK), DSM (AMS: DSM), Honeywell International Inc. (NYSE: HON) and BASF SE (ETR: BAS).

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the reporttitled Ammonium Sulfate Market – Global Demand Analysis & Opportunity Outlook 2026”, analyses the overall ammonium sulfate coatingsindustry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global ammonium sulfate market in the near future.

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