Wilmington, Delaware, United States, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global ammonium sulfate market is prognosticated to reach a value of US $ 5.9 Bn by the end of 2031, states an assessment by Transparency Market Research (TMR). Furthermore, the TMR study highlights that the market for ammonium sulfate is expected to develop at a CAGR of 5% during the forecast period, 2021-2031.
The TMR research report on ammonium sulfate market offers 360-degree analysis of the market. Hence, readers gain access to various key aspects influencing the market growth including the growth drivers, restraints, opportunities, and recent developments in ammonium sulfate market. Moreover, this study sheds light on the future market demand for ammonium sulfate and marketing strategy for ammonium sulfate used by the market players.
The popularity of industrial grade ammonium sulfate is being increasing in the recent years owing to its different properties including the ability to easily dissolve in water, very low organic impurities, and low metal content. Thus, a rise in the product demand is boosting the sales growth in the ammonium sulfate market.
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Increase in the use of industrial grade ammonium sulfate in the leather industry as a deliming agent is fueling the market growth. This aside, industrial grade ammonium sulfate is widely utilized in the pulp and chipboard industry as an additive. It is also used as a nitrifying agent in the yeast cultivation and as an additive in the fire extinguishers. This wide application of product suggests that the global ammonium sulfate market is expected to expand at notable pace during the forecast period.
Players operating in the ammonium sulfate market are focusing on the use of technological advancements in their production processes in order to manufacture granules. Some of the popular techniques used today include vaccum thermal stripping and vaccum absorption process, note analysts of a TMR study on the global ammonium sulfate market.
Ammonium Sulfate Market: Key Findings
- Ammonium sulfate is highly soluble in water. Hence, it is being increasingly utilized in different agriculture activities. It is an extensively utilized nitrogen fertilizer for the crop production owing to its ability to improve the quality of a crop and offer better yields. With a rise in the global population, the need for better yield of crops is being increasing. Thus, the use of ammonium sulfate is rising in the agricultural sector is order to boost the food production so as to fulfil the current food demand. This factor, in turn, is anticipated to lead to notable business opportunities in the global ammonium sulfate market during the forecast period.
- Ammonium sulfate is being utilized in the animal feed additives. Moreover, companies operating in the ammonium sulfate market are focusing on the expansion of their production capabilities in order to cater to the rising market demands. The rising sales numbers in the market can be ascribed to surge in the adoption of modern farming technologies across many developed and developing nations.
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Ammonium Sulfate Market: Growth Boosters
- Surge in the use of ammonium sulfate in fertilizers and water treatment is expected to fuel the sales growth in the global market
- Increase in the use of industrial grade ammonium sulfate in varied end-use industries is creating profitable prospects in the market
Ammonium Sulfate Market: Key Players
Some of the key players profiled in the report are:
- Ube Industries
- Honeywell International
- Domo Chemicals
- Arkema
- Sumitomo Chemical
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Ammonium Sulfate Market Segmentation
Form
- Solid
- Liquid
Application
- Fertilizer
- Additive (Pharma and Food)
- Water Treatment
- Flame Retardant
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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