Ammonium Sulfate Market Estimated To Reach USD 5.04 Billion By 2030

Posted by Neha Bora on February 8th, 2024

San Francisco, 8 Feb 2024: The Report Ammonium Sulfate Market Size, Share & Trends Analysis Report By Product (Solid, Liquid), By Application (Fertilizer, Pharmaceutical, Food & Feed Additive), By Region, And Segment Forecasts, 2024 - 2030

The global ammonium sulfate market size is expected to reach USD 5.04 billion by 2030, as per the new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.0% from 2024 to 2030. The advancement in agriculture technology would drive the demand for fertilizers, which would indirectly result in the growing demand for ammonium sulfate.

Ammonium sulfate is an inorganic water salt comprising sulfur and nitrogen. The composition is used in the agricultural sector as fertilizer. It has the ability to provide stability and functionality to the fertilizer. Benefits associated with these fertilizers include water-solubility, easy blending abilities with nitrogenous fertilizers, and elevation of soil. These benefits ensure high plant growth, thereby leading to the high demand from farming communities.

Rice is a staple food crop in most Asian countries and is grown by almost two billion people according to the Food and Agriculture Organization (FAO). North America accounted for the third-largest market share after Asia Pacific and Europe in 2021. The Ministry of Health, Labor, and Welfare declared the product as safe for health with no health problems associated, therefore it is accepted and utilized across the globe.

The global market is very competitive; thus several manufacturers are investing in the development of technologies for the production method of the product. Manufacturers are focusing on mergers and acquisitions to increase their global presence and broaden their product portfolio. For instance, in 2019, Sumitomo Chemical announced the merger of Sumitomo Chemical India Limited and Excel Crop Care Limited to expand the business in India.

Access Research Report of Ammonium Sulfate Market @ https://www.grandviewresearch.com/industry-analysis/ammonium-sulfate-market

Ammonium Sulfate Market Report Highlights

• By product, solid ammonium sulfate held the largest revenue share of over 90.0% in 2023 due to an increase in demand for agricultural fertilizers
• The fertilizers application segment accounted for the largest revenue share of over 70.0% in 2023 as there is a boost in the demand for food products on account of the population explosion. This is anticipated to drive the demand for the product in fertilizer production globally
• Asia Pacific held the largest volume share of over 45.0% in 2023. The fertilizers demand is high in the APAC economies as agriculture is the primary sector. This, in turn, will increase the demand for ammonium sulfate

Ammonium Sulfate Market Report Scope

List of Key Players of Ammonium Sulfate Market

• BASF SE
• Evonik Industries
• Lanxess Corporation
• Novus International
• Sumitomo Chemical
• Honeywell International
• Royal DSM

Access Press Release of Ammonium Sulfate Market @ https://www.grandviewresearch.com/press-release/global-ammonium-sulfate-market