The global Ammonium sulfate market size is projected to grow from USD 5.21 billion in 2024 to USD 6.19 billion by 2029, at a CAGR of 3.5% during the forecast period. The major factors driving the growth of the market include the increasing demand from nitrogenous fertilizers, rise in demand from the pharmaceutical sector to manufacture pharmaceutical drugs, and the strigent regulations for wastewater treatment, along with increasing capacity additions.
Ammonium Sulfate Market Key Players
The major players in the ammonium sulfate market with a significant global presence are BASF SE (Germany), Evonik Industries AG (Germany),Lanxess Group (Germany), AdvanSix (US), Sumitomo Chemical Co., Ltd. (Japan), OCI (Netherlands), Domo Chemicals (Belgium), Fibrant (Netherlands), Nutrien (Canada) and Martin Midstream Partners L.P. (US) etc. The market players have adopted various strategies such as development of advanced products, partnerships, contracts, expansions, and acquisitions to strengthen their position in the ammonium sulfate market.
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BASF SE (Germany) is one of the prominent chemical manufacturing companies from Europe. Its business is divided into seven segments; chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions, and others. The company sells ammonium sulfate under the Chemicals segment. Its presence is spread across Asia Pacific, Africa, North America, Central America, South America, Europe, and the Middle East, with 234 production sites in total in these locations. It serves a vast range of industries that include agriculture, construction, automotive, electronics, furniture, home care, paints & coatings, chemicals, personal care & hygiene, nutrition, packaging, pharmaceuticals, textiles, and plastics & rubber. Product launches and collaborations were some major strategies used by the company to improve its market position.
Evonik Industries AG (Germany) is a leading company in manufacturing specialty chemicals headquartered in Germany. The company operates through five operating divisions which include specialty additives, nutrition & care, smart materials, performance materials, and technology & infrastructure. Its products are used by industries from different sectors like aerospace, agriculture, automotive, transportation, coatings, paints, construction, electronics, food & beverages, environment & utilities, home & personal care, mining, pharmaceutical, packaging, paper, and plastics. Partnerships and expansions were major strategies used to elevate the business. One notable expansion is their modernixation of manufacturing facility for their ammonium sulfate product.
Lanxess (Germany) is a specialty chemicals manufacturer. The business segments of the company are divided into four segments: Consumer Protection, Specialty Additives,Advanced Intermediates, and other segments. Each segment is further divided into 10 business units based on different applications. The applications include petrochemicals, fragrances, water treatment, pharmaceuticals, construction, automotive, semiconductors, colorants, disinfection and protection products, color pigments, polymer additives. The regional segments are divided as Germany, Americas, Asia-Pacific and EMEA. With a presence in 32 countries, the company has established a good global business. The company adopted acquisitions,partnerships, and expansions type of strategies to improve their business.
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AdvanSix (US) is a US-based chemical company formed through a spin-off of the resins and chemicals business unit of the Honeywell International Inc. in 2016, as a standalone public company. The business segments are Ammonium Sulfate, Nylon, Caprolactam, and Chemical Intermediaries. Their products are used for various applications that include building & construction, fertilizers, plastics, solvents, packaging, paints, coatings, adhesives, and electronics. The ammonium sulfate is produced at their Hopewell plant with an annual capacity of 3.4 billion pounds and sells it under the brand name, Sulf-N. The company grew its business through strategic acquisitions and other developments like introducing farmers’ programs. One such program is the AMS Acre Activation program, which included educating farmers on the use of ammonium sulfate to improve the crop growth.
OCI (Netherlands), also known as OCI Global is a manufacturer of hydrogen products which include ammonia, nitrogen fertilizers, methanol, biofuels, diesel exhaust fluid, and other nitrogen products. The product segments are methanol and nitrogen. The reportable segments of the business include Methanol US, Methanol Europe, and Nitrogen Europe, Nitrogen US,Fertiglobe, and others. Nitrogen US and Fertiglobe are the discontiued segments from 2024 onward. It adopted product launches and partnership as key strategies to increase its revenue. It launched a new fertilizer for enhancing yield and the quality of crops. These strategies have helped the business to enhance its position in the market.
By Type, Solid type of ammonium sulfate to have largest share.
The solid type of ammonium sulfate is predicted to have the largest share in the forecast period due to its convenience of use. The product comes in a crystalised form, or in granules, and it can also be easily dissolved in water, making it ideal for use in its solid state. Many end users like farmers, prefer using ammonium sulfate in this manner, as it is easy to use. Solid type of ammonium sulfate is also easy to store. It is also used in herbicides, where the crystals are mixed into the solution.
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Fertilizers segment to account for fastest growth in the Ammonium sulfate market.
The application of ammonium sulfate is predicted to have the fastest market because of its major use in agriculture. Fertilizers are majorly used in agriculture for farming purposes. Fertilizers containing ammonium sulfate are of great help in farming, because they provide the crops with essential nutrients of sulfur and nitrogen which is required for proper growth. It also helps in regulating tand maintaining the required acidic level of soil for efficient crop production. And the agricultural sector is also growing because of the increasing demand for food products from the increasing population.
Asia Pacific region is the largest market for Ammonium sulfate.
APAC is estimated to be the largest market of ammonium sulfate and it is due to the rising demand from the agricultural sector in fertilizers. The countries in this region like China, Japan, and India are showing an increase in agricultural activities. And a lot of population is also into farming. The governments in these countries are also implementing strategies to improve this sector. It is also important to note that a lot of agricultural produce from the region is also exported to other regions.
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