ROCKVILLE, Md., March 16, 2022 (GLOBE NEWSWIRE) -- As per latest market analysis on ammonium thiosulfate by Fact.MR, a market research and competitive intelligence provider, the global market is projected to be valued at US$ 373 million by 2022-end, and expand a CAGR of around 7.9% over the forecasted period of 2022-2032. Market growth is mainly riding on the back of growing demand for ammonium thiosulfate in corn production.
The ammonium thiosulfate business, over the past decade, has been consolidated, mainly attributed to the presence of some key players holding a majority of the market share. Additionally, prominent ammonium thiosulfate manufacturers are based in the U.S., owing to high demand for fertilizers for corn cultivation.
Sulphur content is essential for the growth of corn, and hence, rise in the consumption of corn will have a direct impact on Industrial ammonium thiosulfate (ATS) demand. As such, ATS end-use for corn production is projected to provide an absolute dollar opportunity worth US$ 108 million over the next ten years.
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Ammonium thiosulfate, or ATS, contains both, nitrogen and sulphur, essential for crop growth in different amounts. ATS can be differentiated from other fertilizers on the basis of its controlled release properties. For example, in ATS, most of the sulphur is available to plants after application to the soil.
Additionally, solid ammonium thiosulfate is highly soluble and is also being used as a nitrification inhibitor. On the other hand, ATS use case as a herbicide carrier has gained traction over the past half-decade, and thus, attributed to these properties, ATS consumption in agriculture is poised to expand rapidly at a CAGR of around 8.1% over the period of 2022-2032.
Key Segments of Ammonium Thiosulfate Industry Survey
By Grade:
- Photographic Ammonium Thiosulfate
- Industrial Ammonium Thiosulfate
By End Use:
- Agriculture
- Herbicide Safeners
- Liquid Fertilizers for Arable Crops
- Corn
- Soyabean
- Alfalfa
- Rape
- Maize
- Grain
- Leachants (for Mining)
- Gold
- Silver
- Photographic Fixing Salt
- Others
By Region:
- North America Ammonium Thiosulfate Market
- Latin America Ammonium Thiosulfate Market
- Europe Ammonium Thiosulfate Market
- East Asia Ammonium Thiosulfate Market
- South Asia & Oceania Ammonium Thiosulfate Market
- Middle East & Africa Ammonium Thiosulfate Market
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Competition Landscape
Tessenderlo Kerley, Inc., Koch Nitrogen International Sarl, Kugler Co., Martin Midstream Partners, TIB Chemicals AG, Esseco Srl, PCI Nitrogen, and Shakti Chemicals are some of the major players in the powder ammonium thiosulfate market.
- In October 2020, TIB Chemicals built new storage tanks for ATS (ammonium thiosulfate). Since TIB chemicals has been focusing on the efficient supply and distribution of ATS, the construction of storage tanks will enhance the company’s supply chain capabilities.
- In May 2021, Koch Fertilizers announced building of ATS storage capacity of total 2 million gallons. This step has been undertaken to meet growing demand for ATS. Storage capacity built by Koch Fertilizer comes equipped with features such as internal coating and insulation. This will ensure adequate supply of ammonium thiosulfate, especially in the U.S. where production of corn has picked up record pace.
Fact.MR has provided detailed information about the price points of top ammonium thiosulfate manufacturers positioned across regions, in addition to providing sales growth information, production capacity, and speculative production expansion, in the recently published report.
Key Companies Profiled
- Tessenderlo Kerley, Inc.
- Koch Nitrogen International Sarl
- Kugler Co.
- Martin Midstream Partners
- TIB Chemicals AG
- Esseco Srl
- PCI Nitrogen
- Shakti Chemicals
Country-Wise Analysis
Over the past decade, corn production and consumption has grown considerably. This is mainly attributed to corn being rich in antioxidant contents and vitamin C. Owing to this, there is high demand for corn in the U.S., which has emerged as the leading producer and consumer of corn, globally.
For instance, according to USDA, in 2021, U.S. corn producers were able to grow around 15.1 billion of bushels, which was up 7% from 2020. Since sulphur has been identified as an important source of nutrient for corn production, record production of bushels since the past half-decade has provided a positive outlook for ammonium thiosulfate manufacturers.
The U.S. ammonium thiosulfate solution market is poised to provide a high absolute dollar opportunity worth US$ 169 Mn over the period of 2022-2032.
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Category-Wise Analysis
Ammonium thiosulfate usage in agriculture is projected to hold a major share in the market. Properties of ATS such as high sulphur content, solubility, and controlled release make it fit to be used as a fertilizer.
Additionally, food insecurity has been identified as a major concern today. Large portions of the population today don’t have access to adequate amounts of food. For instance, according to a UN report, around 720-811 million people in 2020 did not have access to adequate food supplies.
Thus, in order to enhance agriculture output, consumption of fertilizers has picked up pace, showcasing a positive outlook to ammonium thiosulfate solution suppliers.
Attributed to these factors, agriculture, as an end use, remains the most lucrative segment, projected to be valued at US$ 505 Mn by 2032.
Key Takeaways from Market Study
- Industrial grade ammonium thiosulfate is projected to provide an absolute $ opportunity worth US$ 189 million over the forecast period of 2022 to 2032.
- Based on end use, consumption of ammonium thiosulfate in agriculture is projected to increase at a high CAGR of around 8.1%.
- North America is projected to capture around 41% of the global ammonium thiosulfate market share by 2032.
- The market in Europe is set to provide an absolute dollar opportunity worth US$ 7.4 million by 2032-end.
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