NEW YORK, Jan. 18, 2023 (GLOBE NEWSWIRE) -- IndexBox's recent report on the global ammonium sulphate market highlights the following key points.
The global ammonium sulphate market was valued at $9.8B in 2022 and is expected to reach $12.5 by 2030, growing at a CAGR of 3.1% during the forecast period. The consumption of ammonium sulphate is increasing significantly due to the growing demand for fertilizers from the agriculture sector. The rising population and the consequent rise in food demand have led to an increase in agricultural activities. Potassium Sulphate Water Soluble Grade
Ammonium sulphate is a white crystalline salt with the chemical formula (NH4)2SO4. It is used as a fertilizer for alkaline soils and can be applied to all types of crops, including cereals, fruits, vegetables, and turf. It is also used as a fire retardant and as an additive in some types of paper.
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On the basis of application, the fertilizer segment represents the largest application segment for ammonium sulphate accounting for around two-thirds of the total share. On the basis of end-use industries, the agricultural sector accounts for more than three-fourths of total consumption followed by chemicals & fertilizers (C&F), construction, textile and others.
Asia Pacific region dominates the global ammonium sulphate market holding more than 50% of total consumption owing to factors such as high demand from the agriculture sector coupled with presence of large-scale manufacturing facilities in China, India and other countries in this region.
The logistic tensions have been on a rise in recent years owing to the increase in trade barriers and protectionism by various countries. This has led to delays in shipments and higher costs for manufacturers. For instance, in 2018, China imposed 25% tariffs on US imports of ammonium sulphate, which led to an increase in its price. This hampered the market growth during the following years.
The Russia-Ukraine conflict could have a significant impact on the ammonium sulphate market, as Russia is the third-largest ammonium sulphate manufacturer in the world, exporting a significant part of its production to European countries. After the EU imposed sanctions on Russian fertilizers, established supply chains should change radically.
Ammonium sulfate prices have been on the rise in recent years due to increased demand from the fertilizer industry. The average export price of ammonium surged from $118 per metric ton in 2017 to $288 per metric ton in 2022.
Ammonium sulphate price growth is expected to decelerate over the next decade. The supply of ammonium sulfate is anticipated to exceed demand in the next few years due to increased capacity in China and other regions.
The use of ammonium sulphate as a fertilizer has been in decline in recent years due to environmental concerns. Ammonium sulphate is a major source of acid rain and can also be harmful to aquatic life. The European Union has placed restrictions on the use of ammonium sulphate and other fertilizers containing nitrogen, and this is likely to continue to have an impact on the market for ammonium sulphate in the future.
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
Companies Mentioned in the Report
Yara International ASA, Potash Corporation of Saskatchewan, Inc., The Mosaic Company, Rashtriya Chemicals and Fertilizers Ltd., EuroChem Group AG, Agrium Inc., CF Industries Holdings, Inc., OCI Nitrogen B.V., Tessenderlo Group NV, Taiheiyo Chemical Corporation, Haifa Group, Honeywell International Inc.
World – Ammonium Sulphate - Market Analysis, Forecast, Size, Trends and Insights
EU - Ammonium Sulphate - Market Analysis, Forecast, Size, Trends and Insights
Asia - Ammonium Sulphate - Market Analysis, Forecast, Size, Trends and Insights
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