Caprolactam Favoring Growth of Ammonium Phosphate Market by 40%: Future Market Insights, Inc.

Asia Pacific is expected to possess 40% of market share for global ammonium sulphates market in the assessment period 2022-2032. Europe is expected to procure 35% of market share for ammonium sulphates market in the forecast period 2022-2032

NEWARK, Del., Sept. 6, 2022 /PRNewswire/ -- A recently published study by FMI expects the global ammonium sulphate market to augment at a 7.5% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of US$ 6.18 Billion is expected for the market. The demand for ammonium phosphate is growing owing to its increasing usage in the agricultural sector. Moreover, application of ammonium phosphate has found a place in the biopharmaceutical and cake and confectionery industries too. This, in turn, is positively influencing the growth of ammonium phosphate market.

From 2017 to 2021, the industry experienced noteworthy growth, registering a value CAGR of 5% and closing at US$ 2.79 Billion. The COVID-19 pandemic affected the demand for ammonium phosphate positively as the same is widely used in the production of disinfectants and surface cleaners. In addition, modification of ammonium phosphate for maximizing the use of the same is creating opportunities for the market.

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The increasing use of ammonium phosphate in Europe for water retention purposes and for agriculture in Asia Pacific is further contributing to the market growth. Furthermore, the use of ammonium phosphate for wood preservation and soil retention is favoring the growth of the market. In the upcoming years, the dependency on ammonium phosphate is expected to increase by end user industries owing to its multi-purpose use.

Key Takeaways from the Market Study

• By production process, caprolactam is expected to hold 40% market share for ammonium sulphate in 2022.
• North America is expected to hold 45% for ammonium phosphate market in 2022.
• Asia Pacific is expected to possess 40% of market share for global ammonium sulphates market in the assessment period 2022-2032.
• Europe is expected to procure 35% of market share for ammonium sulphates market in the forecast period 2022-2032.

"The increasing use of ammonium phosphate in end user industries especially in the agricultural sector by different geographical locations is increasing the demand for the same." says an FMI analyst

Market Competition

Key players in the ammonium sulphate market are Koninklijke DSM N.V. (Fibrant), 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, Sumitomo Chemical, Evonik Industries AG

• In August 2022, JSC "Grodno Azot" announced that it will be partially limiting the production of nitrogen fertilizer due to the increase in prices of natural gas.
• DOMO Chemicals, a key player in the ammonium sulphate market is focusing on producing the same sustainable and reducing their overall carbon footprint.

More Insights Available

FMI, in its new offering, presents an unbiased analysis of the global ammonium phosphate market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Production (Process Caprolactam, Coke Oven Gas, Gypsum, and Neutralization & Others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

About the Chemical and Material Division at FMI

The chemicals & materials team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

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Key Segments Profiled in the Ammonium Sulphate Market Industry Survey

Ammonium Sulphate by Production Process:

• Ammonium Sulphate for Caprolactam
• Ammonium Sulphate for Coke Oven Gas
• Ammonium Sulphate for Gypsum
• Ammonium Sulphate for Neutralization & Others

Ammonium Sulphate by Region:

• North America Ammonium Sulphate Market
• Latin America Ammonium Sulphate Market
• Europe Ammonium Sulphate Market
• Asia Pacific Ammonium Sulphate Market
• Middle East & Africa Ammonium Sulphate Market

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Table of Content

1. Executive Summary

    1.1. Global Ammonium Sulphate Market Snapshot

    1.2. Key Market Trends

    1.3. Current Market & Future Potential

    1.4. Fact.MR Recommendation

2. Market Overview

    2.1. Market Segmentation

    2.2. Market Indicators

    2.3. Market Definitions

    2.4. Market Dynamics

        2.4.1. Drivers

        2.4.2. Restraints

        2.4.3. Opportunities

    2.5. Porter's Five Forces Analysis

    2.6. Value Chain Analysis

        2.6.1. List of Potential Customers

    2.7. Global Ammonium Sulphate Market Analysis and Forecast, 2022-2032

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Have a Look at Related Research Reports of Chemicals & Materials

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Precipitated Barium Sulphate Market Trends: The global precipitated barium sulphate market registered a year-on-year (YoY) growth of 3.6% in 2022, reaching a value of US$ 712.0 Mn by 2022

Ammonium Phosphate Market Analysis: Global ammonium phosphate market is invigorated by growing consumption in fire control applications.

Ammonium Carbonate Market Outlook: The global ammonium carbonate market is projected to reach US$ 688 Mn in 2022. As per the report, sales of ammonium carbonate will grow at a 5.2% CAGR

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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SOURCE Future Market Insights