The global ammonium sulfate market is expected to reach USD 3.44 billion by 2022, according to a new report by Grand View Research, Inc. Growing fertilizers demand on account of growing population and decreasing arable land is expected to remain a key driving factor for global ammonium sulfate market. Shift in trend towards increasing crop yield by increasing nutrient contents such as nitrogen and sulfur in soil is also expected to have a positive influence on the market growth. Presence of stringent regulatory norms particularly in developed markets of Germany, France, UK and the U.S. are expected to remain a key challenge for market participants.
Solid ammonium sulfate emerged as the leading product segment and accounted for over three quarters of total demand in 2014. Solid ammonium sulfate is also expected to witness highest growth of 2.45% from 2015 to 2022. Granular ammonium sulfate finds its application across a wide range of end-use industries which has contributed towards its growth.
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Further key findings from the study suggest:
- Global ammonium sulfate market demand 24.60 million tons in 2014 and is expected to reach 29.81 million tons by 2022, growing at a CAGR of 2.43% from 2015 to 2022.
- Fertilizer emerged as the leading application segment and accounted for over 90% of total market volume in 2014. Continuous increase in population coupled with need to increase cultivation yield is expected to benefit the demand for ammonium sulfate in fertilizers. Novel applications such as food additives are expected to witness the highest growth of 2.90% from 2015 to 2022.
- Asia Pacific was the leading regional market with demand share estimated at 39.0% in 2014. Presence of a large agriculture industry in China, India and South East Asian countries is expected to remain a key driving factor for the regional market. The region is also expected to witness the highest growth of 2.57% from 2015 to 2022.
- Central and South America is expected to witness significant growth to account over 17% of the global market by 2022. Ammonium sulfate demand in Brazil is expected to rise over the forecast period and have positive impact on the overall regional market.
- Ammonium sulfate industry is fragmented with presence of large number significant market players across the globe. Some leading companies operating in the global market include DSM, Honeywell and BASF. Other companies include Sumitomo Chemicals, Helm AG, Evonik Industries, Domo Chemicals, AkzoNobel, Lanxess, Rentech and Agrium.
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