Analyst Perspective
The global ammonium thiosulfate fertilizer market is expected to register a CAGR of 5.8%. Rising government investments to enhance agricultural development are expected to drive market growth. As urbanization reduces cultivation areas, there's a growing demand for fertilizers to maximize yields per unit of land. The declining soil nutrition underscores the need for more nitrogen, phosphorus, and potassium (NPK) nutrition to boost crop productivity. Ammonium thiosulfate is a beneficial solution that contributes to market growth by enhancing crop productivity and NPK nutrition values. Growing demand for sustainable agriculture, increasing organic farming, and development of new application methods are emerging opportunities for the market growth of ammonium thiosulfate fertilizers. High prices, stringent regulations, and limited awareness are significant challenges that may hamper the ammonium thiosulfate fertilizers market growth.
Market Overview
Ammonium thiosulfate is an effective inorganic compound used in fertilizers to prevent nitrogen loss by slowing down the conversion of ammonium to nitrate. This boosts plant growth and provides a quick-absorbing source of ammoniacal nitrogen, resulting in lush and vibrant turf even in more excellent soil conditions. Its versatile liquid fertilizer component works well with various materials, supporting increased yields by meeting crops' essential nitrogen and sulfur needs. There is a growing demand for agricultural practices that are environmentally friendly and minimize resource depletion. Ammonium thiosulfate can be positioned as a sustainable fertilizer option because it can improve nitrogen use efficiency and reduce nitrate leaching.
Market Drivers
- As the world's population grows, so does food demand, which leads to an increased demand for fertilizers, including ammonium thiosulfate.
- Ammonium thiosulfate has several properties that make it an attractive fertilizer option. It is a good source of nitrogen and sulfur, essential nutrients for plant growth. It is also a nitrification inhibitor, which slows down the conversion of ammonium to nitrate, which helps reduce nitrogen loss from the soil and improve fertilizer efficiency.
- There is a growing concern about the environmental impact of traditional fertilizers. Ammonium thiosulfate is a more environmentally friendly option than other fertilizers, as it does not contribute to greenhouse gas emissions nor leach into groundwater.
Market Segmentation
The global ammonium thiosulfate fertilizer market is segmented based on product type and application. The global ammonium thiosulfate fertilizer market is segmented based on product type into liquid and powder.
The global ammonium thiosulfate fertilizer market is segmented based on application into cash crops, field crops and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives information on an overview and forecast of the global ammonium thiosulfate fertilizer market based on several segments. It also provides market size and forecast estimates from 2020 to 2030 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The ammonium thiosulfate fertilizer market by region is also sub-segmented by respective countries and segments. The ammonium thiosulfate fertilizer market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the ammonium thiosulfate fertilizer market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting these regions' ammonium thiosulfate fertilizer market.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the ammonium thiosulfate fertilizer market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the ammonium thiosulfate fertilizer market are anticipated to have lucrative growth opportunities with the increasing demand for fertilizers in the global market.
The report includes key companies' profiles, SWOT analysis, and ammonium thiosulfate fertilizer market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the ammonium thiosulfate fertilizer market.
- Hydrite Chemical Co.
- Koch Fertilizer, LLC
- Esseco Group
- Merck KGaA
- Nutrien Ltd.
- Thermo Fisher Scientific
- Martin Midstream Partners L.P.
- Interoceanic Corporation
- Tessenderlo Kerley International
- TIB Chemicals AG