“Global Ammonium Sulfate Market to reach a market value of USD 4.6 Billion by 2030 growing at a CAGR of 6.7%”
The Global Ammonium Sulfate Market size is expected to reach $4.6 billion by 2030, rising at a market growth of 6.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 13,412.74 kilo tonnes, experiencing a growth of 5.9% (2019-2022).
As the pharmaceutical segment grows, particularly in biopharmaceuticals, the demand for it for protein purification also rises. Therefore, the pharmaceutical segment captured $251.31 million revenue in the market in 2022.This is because many biopharmaceuticals, including monoclonal antibodies and recombinant proteins, require precise purification steps during manufacturing.
Bio-based and organic fertilizers are essential in organic farming, emphasizing natural processes and avoiding synthetic chemicals. When derived and used by organic farming standards, it becomes a preferred nitrogen and sulfur source for organic farmers. Ammonium sulfate, as a naturally occurring compound, fits well with the principles of organic farming. Using a natural nitrogen and sulfur source aligns with the desire for organic inputs, contributing to bio-based and organic fertilizers containing it marketability. Additionally, Monoclonal antibodies are a major class of biopharmaceuticals, and their production involves multiple purification steps where itis frequently utilized. The rising demand for monoclonal antibodies for treating various diseases contributes significantly to the demand for this in biopharmaceutical manufacturing. Recombinant proteins, including enzymes and therapeutic proteins, often undergo purification processes where it used. The growth of recombinant protein production for medical, diagnostic, and industrial applications drives the need for efficient protein purification methods, supporting the demand for this. Thus, because of the expansion of biopharmaceutical manufacturing, the market is anticipated to increase significantly.
However, Volatile raw material prices directly impact the production costs of it. Manufacturers may experience sudden increases in production costs when ammonia and sulfuric acid prices rise sharply, leading to reduced profit margins or potential losses. Fluctuating raw material prices create challenges for manufacturers to maintain stable and predictable profitability. Manufacturers may struggle to set consistent product prices, impacting their ability to forecast and plan for financial stability. The unpredictability of raw material prices adds complexity to risk management strategies for its producers. Companies may find developing effective risk mitigation plans challenging, leading to increased exposure to financial risks associated with volatile markets. Therefore, high volatile raw material prices are a significant challenge that hampers the growth of market.
Based on application, the market is classified into fertilizers, pharmaceuticals, food & feed additives, water treatment, and others. In 2022, the fertilizers segment witnessed the largest revenue share in the market. Fertilizers, including this, help address nutrient deficiencies in the soil, ensuring that crops receive a balanced supply of essential nutrients. Improved nutrient content in plants leads to healthier crops with better nutritional value. This is especially important for crops intended for human consumption, where nutrient-rich produce is desirable for human health. Fertilizers contribute to maintaining and enhancing soil fertility by replenishing nutrients that are depleted during plant growth and harvesting. Optimal soil fertility is crucial for sustained agricultural productivity. By providing nitrogen, Ammonium sulfate contributes to soil health and fertility, supporting the long-term sustainability of farming practices.
By product, the market is categorized into solid and liquid. The liquid segment covered a considerable revenue share in the market in 2022. Liquid fertilizers can be uniformly distributed across the field, ensuring even coverage of nutrients. This is especially useful for crops that require precision nutrition management. Liquid fertilizers can be formulated with additives to enhance nutrient stability and reduce the risk of nutrient loss through volatilization or leaching. Liquid formulations can be applied directly to the leaves (foliar application), allowing for efficient nutrient absorption through the foliage. Foliar feeding is advantageous for providing nutrients during critical growth stages or addressing nutrient deficiencies. It can be a strategic approach for certain crops and situations.
Free Valuable Insights: Global Ammonium Sulfate Market size to reach USD 4.6 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a significant revenue share in the market. North America has a diverse range of crops, and the intensification of crop production contributes to higher fertilizer demand. The growing emphasis on sustainable agriculture practices and environmentally friendly fertilizers impacts the choice of fertilizers used in the region. Ammonium sulfate is utilized in various industrial processes in North America, including producing chemicals, textiles, and pharmaceuticals. The growth of industrial sectors in North America contributes to the demand for this as a raw material.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 2.8 Billion |
| Market size forecast in 2030 | USD 4.6 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.7% from 2023 to 2030 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Number of Pages | 266 |
| Number of Tables | 530 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Application, Region |
| Country scope |
|
| Companies Included | BASF SE, Evonik Industries AG (RAG-Stiftung), LANXESS AG, SABIC (Saudi Arabian Oil Company), Sumitomo Chemical Co. Ltd., Honeywell International, Inc., Helm AG, ArcelorMittal S.A., Akzo Nobel N.V., Domo Chemicals GmbH |
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $4.6 billion by 2030.
Growing bio-based and organic fertilizers are driving the Market in coming years, however, High volatile raw material prices restraints the growth of the Market.
BASF SE, Evonik Industries AG (RAG-Stiftung), LANXESS AG, SABIC (Saudi Arabian Oil Company), Sumitomo Chemical Co. Ltd., Honeywell International, Inc., Helm AG, ArcelorMittal S.A., Akzo Nobel N.V., Domo Chemicals GmbH
In the year 2022, the market attained a volume of 13,412.74 kilo tonnes, experiencing a growth of 5.9% (2019-2022).
The Solid segment is leading the Market, By Product in 2022; there by, achieving a market value of $3.9 billion by 2030.
The Asia Pacific region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $2.2 billion by 2030.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 