Ammonium Sulfate Market to Surpass $4,847.9 Million by 2030, says P&S Intelligence
NEW YORK, July 26, 2022 /PRNewswire/ — According to the market research report published by P&S Intelligence, the ammonium sulfate market accounted for $2,775.7 million revenue in 2021, which is expected to hit $4,847.9 million by 2030, progressing at a 6.4% CAGR from 2021 to 2030. Many companies are working together in the global ecosystem to increase the market intensity, thus making the sector incredibly dynamic and constantly changing.
In the next few years, the process improvements and increasing production capacities in end-use industries and companies regional expansions, to serve a larger consumer base, are predicted to propel the market growth globally. The usage of advanced ammonium sulfate as a nitrogenous fertilizer has become possible because of the increasing dependence of the global farming community on different agricultural inputs.
Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/ammonium-sulfate-market/report-sample
Solid Category Dominates Market
The solid form of the chemical dominates the ammonium sulfate market with over 85% share. Solid (NH₄)₂SO₄ crystals are a commonly used fertilizer in alkaline soils all over the world because of their ability to reduce the sulfur deficiency and increase soil the nutrient content.
Similarly, the chemical in its liquid form is increasingly being used in water treatment processes, as it is regarded as a universally acceptable substance for chlorination.
Fertilizers Category Accounts for Significant Share
Fertilizers account for an over 60% share of the ammonium sulfate market. Due to the increasing need for food and the implementation of fertilizer subsidy programs by governments worldwide, the use of fertilizers in agriculture has grown.
Additionally, it is expected that the market advance would be aided by the increasing medical research activities being carried out by pharmaceutical companies in APAC, Western Europe, and North America.
Browse detailed report on Global Ammonium Sulfate Market Growth and Forecast Report 2030
- Geographically, the North American region holds a significant share of the market. This is due to the fact that North America is one of the major agricultural hubs in the world and the region with the most-homogeneous farmer demographics and business intensification levels.
- Furthermore, Europe accounts for the second-largest revenue share due to the surging demand for fertilizers. Aside from that, downstream industries, including the pharmaceutical industry, are increasing their consumption of this salt.
- The APAC ammonium sulfate market held an over 30% share in 2021, and it is expected to continue its dominance on the market in the future. This will be a result of the region’s high agricultural productivity, increasing usage of fertilizers based on nitrogen, rising food intake, and rapid population growth.
- In addition, the LATAM and MEA markets are predicted to advance rapidly during the forecast period owing to the growing demand for crops, including grapes, wheat, soybeans, and sunflower seeds.
Browse More Reports Published by P&S
Water Treatment Chemicals Market Size & Share Analysis by Type, Application, End User – Global Industry Development and Demand Forecast Report
Sodium Sulphate Market Size & Share Analysis by Application – Global Industry Development and Demand Forecast Report
Ammonium Phosphate Market Size & Share Analysis by Type, Application – Industry Development and Demand Forecast Report
About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
Email: [email protected]
Follow Us: LinkedIn Twitter
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Agrigate Global takes no editorial responsibility for the same.