The ammonium sulfate market is projected to attain USD 3.44 billion by 2022. It had a market value of USD 2.86 billion in 2014. Demand for fertilizers by the growing agriculture industry will fuel market growth. Need to increase the annual crop yield directly impact the demand for fertilizers. Decreasing tenable land and the need to feed the increasing population are factors directly affecting the ammonium sulfate market.
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Apart from agriculture, it has applications in bakery and confectionery products. Strict regulations in Germany, US, UK, and Italy will hinder market growth over the next 7 years. Side effects related with ammonium sulfate will affect consumer growth in the coming years. But innovative products like low grade ammonium sulfate, large crystals, and genuine granulars have created growth opportunities for the market. It expects to reach a demand of 29.81 million tons by 2022, growing at a 2.43% CAGR from 2015 to 2022 (forecast period).
Fertilizers, food additives, and industrial are applications of the ammonium sulfate market. Fertilizers accounted for more than 90% market volume and were the largest application in 2014. Food additives have a 2.9% CAGR over the forecast period. Ammonium sulfate is used in breads and confectionery items as an acidity regulator. Industrial applications have significant demand in textile and leather products and flame retardants.
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Products in the ammonium sulfate market are divided into solid and liquid types. Solid ammonium sulfate was the leading product in 2014 and expects a 2.45% CAGR by end of 2022. Liquid fertilizers contain clear liquids or liquids containing suspended solids. Liquid fertilizers had a 20% revenue share in 2014, while solid fertilizers commanded a 75% demand in the same year.
Asia Pacific dominated the ammonium sulfate market with a 39% demand in 2014. It will experience a 2.57% CAGR over the forecast period. Furthermore, agriculture industry in India, China, and other South East Asian countries will sustain market demand in the region. Central and South America will experience significant growth accounting over 17% of the global market.
Reputed players of the ammonium sulfate market include BASF Antwerpen, Honeywell, Novus, ArcelorMittal, and Helm AG. Strategies employed by reputed companies to maintain their presence over the market include producing their own raw materials to reduce operational costs and bridge the supply-demand gap.
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