The global ammonium sulfate market is forecast to expand at a 3.6% value CAGR from 2022-2032, reaching a valuation of US$ 4.9 Billion, concludes a recently concluded Fact.MR study. According to the report, the industry is poised to be valued at US$ 3.43 Billion by the end of 2022. Extensive applications in fertilizer and agrochemical manufacturing are expected to open opportunistic doors in the forthcoming decade.
From 2015 to 2021, sales of ammonium sulfate rose at a CAGR of 3.8%, closing in at a valuation of US$ 3.31 Billion. Ammonium sulfate is mainly produced as a byproduct of caprolactam and coke oven processes. Caprolactam is widely used for the manufacturing of nylon fibers. Nylon fibers have a wide range of applications including textiles, carpets, industrial yarn, and fishing lines and nets.
Increasing customer traction from agriculture intensive economies coupled with favorable statutory regulations regarding use of alternative nitrate fertilizers are central drivers of ammonium sulfate adoption. Asian regions will play a vital role as developing countries in these regions witness increasing demand for agricultural products that employ ammonium sulfate as key fertilizers.
Key Takeaways from the Market Study
- By form, solid ammonium sulfate is expected to yield over 90% revenue in 2022
- 7 out of 10 ammonium sulfate product sales to occur in the fertilizer manufacturing industry
- Asia Pacific to emerge as the most lucrative ammonium sulfate manufacturing hub, accumulating 34.8% revenue
- Europe to be the 2nd most opportunistic market, flourishing at a CAGR of 4% until 2032
- Global ammonium sulfate market to expand 1.3x from 2022 to 2032
“Prominent manufacturers are looking to divest from traditional concepts of production and product to invest in preemptive development of products such as ammonium sulfate for water treatment and air purification, a trend which will widen future growth prospects,” remarks a Fact.MR analyst.
Competitive Landscape
The ammonium sulfate market is highly competitive, with major international brands focusing on long-term relationships with end-users. With the expansion of water treatment operations and the expansion of the pharmaceutical sector, competition is expected to increase in the coming years.
- In 2019, Arkema has completed its acquisition of Arrmaz, a producer of specialty surfactants for crop nutrition, infrastructure, and the mining industry. This acquisition is another step forward in Arkema’s journey toward specialty chemicals, and it is expected to strengthen the company’s product profile.
- In April 2019, the four leading producers, namely BASF, Domo Chemicals, Lanxess, and Fibrant, joined forces to form Ammonium Sulfate Producers Europe (ASPE) under the guidance of the European Chemical Industry Council (Cefic) to promote the benefits of their products.
These insights are based on a report on Ammonium Sulfate Market by Fact.MR.
