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Ammonium Thiosulphate Fertilizer Market
Ammonium thiosulfate is an inorganic ammonium salt composed of ammonium and thiosulfate ions in a 2:1 ratio.
SEATTLE, WA, UNITED STATES , January 11, 2022 /EINPresswire.com/ -- Market Overview:
Ammonium thiosulfate is an inorganic ammonium salt composed of ammonium and thiosulfate ions in a 2:1 ratio. It is used as a fertilizer, a herbicide safener, a bleaching agent, and a reducing agent. It is used to produce liquid fertilizer used in agricultural crops. Ammonium thiosulphate fertilizers Market contains two main ingredients such as Sulfur and Nitrogen, which in turn help crops in protein synthesis and help increase nitrogen efficiency. Its elementary-ATS stabilizes and maximizes nitrogen, improving nitrogen use efficiency, resulting in more available N to crop. Moreover, its multi- functional capabilities for corn and soybeans are what set it apart from other sulfur fertilizers. It dissolves relatively slowly, which makes it cheaper than some other artificial fertilizers. A variety of fertilizers are produced by various mixing methods based on ammonium thiosulfate. Ammonium thiosulfate acts as a sulfur supplier.
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Competitive Landscape:
Major players operating in the global ammonium thiosulphate fertilizer market are Tessenderlo Kerley, Inc., PVS Chemicals Inc. Shakti Chemicals, PCI Nitrogen, Kugler Co., TIB Chemicals AG, Esseco, Martin Midstream Partners, and Koch Nitrogen International, among other.
Key Market Drivers:
Increasing demand for ammonium thiosulphate fertilizers across the globe is expected to propel growth of the ammonium thiosulphate fertilizer market during the forecast period. For instance, according to the Food and Agriculture Organization (FAO) of the United Nations, fertilizer nutrient demand is expected to reach 201.66 million tons by the end of 2020, with an average annual growth of 1.9 percent in the following years.
Moreover, government initiatives for agricultural development, rise in food demand, increase in global pollution, and rapid growth of the agriculture industry are some factors expected to augment the growth of the ammonium thiosulphate fertilizer market. For instance, according FAO of the United Nations, the world population of 9.1 billion people in 2050 would require raising overall food production by some 70% between 2005/07 and 2050. This in turn is also expected to increase the demand for ammonium thiosulphate fertilizer.
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COVID-19 Impact Analysis:
The pandemic exerted significant impact upon most industries, however, the fertilizer industry has shown some resilience in the supply chain during the crisis. However, the use of fertilizers has increased vastly over the years. According to the International Fertilizer Association (IFA), he total fertilizer nutrient demand was estimated at about 20 million tons in 1950 compared to about 190 million tons in 2019 and 2020, and it is expected to continue growing in the future. This in turn is expected to boost the growth of the market.
Key Takeaways:
The ammonium thiosulphate fertilizer market is expected to exhibit during the forecast period owing to the increasing use of ammonium thiosulphate in crops such as corn and soybean. Both corn and soybean are majorly produced crops in the United States. For instance, according to the National Agricultural Statistics Service (NASS), U.S. farmers planted 91.7 million acres of corn in 2019, that’s about 69 million football fields of corn. Moreover, according to the U.S. Department of Agriculture, in 2020, the value of U.S. soybean exports to the world reached a record $25.7 billion, up nearly 40 percent ($7 billion) by value and up 23 percent (11.9 million tons) by volume from the prior year.
Among regions, North America and Asia Pacific are expected to witness robust growth in the ammonium thiosulphate fertilizer market due to the increasing demand for fertilizer, rapid growth of the agriculture industry, and increasing demand for food (due to increase in population). For instance, in May 2021, Koch Fertilizer planned to build 2 million gallon ammonium thiosulfate (ATS) terminal at its Fort Dodge facility in Iowa, U.S., to support growing demand. The terminal will be commissioned and operational in December 2021. With the additional storage and loading capacity, KF will be able to supply more customers throughout the Corn Belt with ATS produced by Koch affiliate, Flint Hills Resources.
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Important Features that are under Offering and Key Highlights of the Reports:
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– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings
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