The ammonium sulfate market contributed $2,775.7 million in revenue in 2021, and it is predicted to capture $4,847.9 million revenue in 2030, advancing at a rate of 6.4% in the near future. The dynamic nature of the industry with constant evolvement leads to market proliferation with numerous entities functioning in the global ecosystem that causes tremendous improvement.
Under the end-use sectors, technological advances such as a rise in the manufacturing capacity of companies, geographical expansions, and process innovations are projected to drive the ammonium sulfate market in the coming years in order to cater to the larger consumer base. The increasing dependence of the global farming community on various agricultural inputs such as pesticides and fertilizers is expected to surge the usage of advanced ammonium sulfate as a substitute of nitrogenous fertilizer.
There is no substitute available in the market to replace the ammonium sulfate among agricultural fertilizers. Moreover, the usage of ammonium sulfate is limited to several crops only such as maize, and soybean, resulting in a minor threat of being replaced with a substitute. Moreover, the supplier bargaining strength for the compound is moderate, considering the integrated operations of the feedstock, sulfuric acid, and ammonia suppliers, and their rising penetration in the global agriculture sector.
North America captures the largest ammonium sulfate market share, due to the region being among the significant agricultural hubs and homogenous to the farmer role. It has sufficient water, fertile land, and infrastructure with entrepreneurial farmers that provide a competitive advantage to the region. In addition, the U.S. is the significant fertilizer producer in the region, owing to the massive production of ammonium sulfate and urea.
Therefore, the agricultural application of ammonium sulfate propels the market, due to the increased requirement to high yield crop production.
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