Far East and Baltic Countries ammonium sulfate market was valued at US$ 1,422.8 Million in 2022, exhibiting a CAGR of 4.5% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 2,027.2 Million by 2030.
Ammoniums sulfate is a solid inorganic compound that is white in colour, and composed of 24% sulfate ions and 21% nitrogen. It is mainly used as a fertilizer for alkaline soils as it helps to reduce the pH value. Ammoniums sulfate is produced by reacting sulfuric acid with hot ammonia. Animal feed, food processing, pharmaceutical, and textile dyeing are some of the major end user of the ammonium sulfate.
Far East and Baltic Countries Ammonium Sulfate Market, By Production Process (Caprolactam By-product, Coke Oven Gas, Gypsum, and Neutralization and others), and By Country (China, Japan, Taiwan, Indonesia, South Korea, Russia, and Ukraine & Baltic Countries) as published by Coherent Market Insights.
Far East and Baltic Countries Ammonium Sulfate Market- Driver
Rising Demand for Ammonium Sulfate
Rising demand for ammonium sulfate in flooded soil applications is expected to drive the market growth. Ammonium sulfate is most effective in solving problems associated with flooded soil such as waterlogged soil. It is added in soil by dissolving ammonium sulfate in a solution and sprayed on the weed crops in order to enhance effectiveness. Thus, growing demand for ammonium sulfate in flooded soil application is expected to drive the market growth.
Far East and Baltic Countries Ammonium Sulfate Market- Opportunities
Rising demand for ammonium sulfate as a food additive from the food industry is projected to offer potential market opportunities over the forecast period. This is attributed to growth of the food industry due to adding expenditure by consumers as increasing population is anticipated to foster the market growth of ammonium sulfate. Ammonium sulfate is used for controlling the pH level in baked food products and is mainly used as a dough conditioner and strengthened.
Far East and Baltic Countries Ammonium Sulfate Market- Restraints
Increasing Costs of Aromatics
Increasing costs of aromatics as it is mainly used in the production of caprolactam across North America and Europe is expected to hinder the market growth. Thus growing costs and lack of availability of aromatics is projected to affect the production of caprolactam and this in turn, hamper the production of ammonium sulfate.
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Key Takeaways:
China dominated the Far East and Baltic Countries Ammonium Sulfate market in 2022, accounting for 55% share in terms of value, followed by Indonesia and Ukraine & Baltic Nations respectively.
Far East and Baltic Countries Ammonium Sulfate Market- Trends
The growing production of caprolactam in China
The growing production of caprolactam in China coupled with the expansion of the chemical industry is expected to impact the market growth positively. Moreover, the growing production of caprolactam in the Baltic countries such as Taiwan, Indonesia, South Korea, Ukraine, and Russia is also expected to propel the growth of the Far East and Baltic countries ammonium sulfate market over the forecast timeframe.
Far East and Baltic Countries Ammonium Sulfate Market- Competitive Section
- Koninklijke DSM N.V.
- JSC KuibyshevAzot
- UBE Industries, Ltd.
- Toray Industries Inc.
- China Petrochemical Development Corporation
- China Petroleum & Chemical Corporation (Sinopec Corp.)
- JSC Grodno Azot
- Grupa Azoty
- Domo Chemicals
- Gujarat State Fertilizers & Chemicals Ltd.
