Ammonium Sulphate Market

The global market for ammonium sulphate is expected to grow steadily over the next eight years, with consumption rates projected to increase. Brazil, China, and the United States are leading in both consumption and production of ammonium sulphate. The market is experiencing growth in both imports and exports, with China being the largest exporter. Prices for ammonium sulphate are on the rise, with variations seen in different countries. Overall, the market is showing promising trends for continued growth and expansion in the near future.

Market Forecast

Driven by increasing demand for ammonium sulphate worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.5% for the period from 2022 to 2030, which is projected to bring the market volume to 41M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market value to $10.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ammonium Sulphate

For the fourth consecutive year, the global market recorded growth in consumption of ammonium sulphate, which increased by 4.4% to 40M tons in 2022. The total consumption volume increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the consumption volume increased by 7.7% against the previous year. Over the period under review, global consumption attained the maximum volume in 2022 and is expected to retain growth in the immediate term.

The global ammonium sulphate market value surged to $9.3B in 2022, rising by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the peak level in 2022 and is expected to retain growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Brazil (5.2M tons), China (4M tons) and the United States (3.5M tons), with a combined 32% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Brazil (with a CAGR of +10.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Brazil ($1.5B) led the market, alone. The second position in the ranking was taken by the United States ($711M). It was followed by China.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at +12.3%. In the other countries, the average annual rates were as follows: the United States (+1.4% per year) and China (-7.3% per year).

The countries with the highest levels of ammonium sulphate per capita consumption in 2022 were Canada (29 kg per person), Malaysia (25 kg per person) and Brazil (24 kg per person).

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +9.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Ammonium Sulphate

For the fourth year in a row, the global market recorded growth in production of ammonium sulphate, which increased by 0.5% to 41M tons in 2022. The total output volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 7.3%. Over the period under review, global production reached the peak volume in 2022 and is expected to retain growth in the immediate term.

In value terms, ammonium sulphate production dropped slightly to $8.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when the production volume increased by 32%. As a result, production attained the peak level of $8.9B, and then declined in the following year.

Production By Country

China (17M tons) constituted the country with the largest volume of ammonium sulphate production, accounting for 43% of total volume. Moreover, ammonium sulphate production in China exceeded the figures recorded by the second-largest producer, the United States (3M tons), sixfold. Belgium (2.5M tons) ranked third in terms of total production with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +6.0%. In the other countries, the average annual rates were as follows: the United States (-1.2% per year) and Belgium (+3.8% per year).

Imports

World Imports of Ammonium Sulphate

For the third consecutive year, the global market recorded growth in purchases abroad of ammonium sulphate, which increased by 33% to 22M tons in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.0% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ammonium sulphate imports skyrocketed to $6.7B in 2022. Overall, imports continue to indicate a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, Brazil (5.1M tons), distantly followed by Turkey (1.8M tons), the United States (1.1M tons) and Vietnam (1.1M tons) represented the major importers of ammonium sulphate, together committing 41% of total imports. Belgium (990K tons), France (855K tons), Malaysia (843K tons), the Philippines (718K tons), Indonesia (589K tons), Germany (564K tons), the UK (451K tons), Lithuania (409K tons) and India (394K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ammonium sulphate imports into Brazil stood at +12.0%. At the same time, India (+77.0%), Belgium (+25.4%), the United States (+16.1%), Germany (+13.6%), Lithuania (+13.4%), Turkey (+11.4%), the UK (+7.1%), France (+5.9%), the Philippines (+5.6%) and Malaysia (+2.4%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +77.0% from 2012-2022. Vietnam and Indonesia experienced a relatively flat trend pattern. While the share of Brazil (+6.7 p.p.), Belgium (+3.4 p.p.), the United States (+2.5 p.p.), Turkey (+2.1 p.p.) and India (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Malaysia (-2.7 p.p.), Indonesia (-3.6 p.p.) and Vietnam (-6.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($1.7B) constitutes the largest market for imported ammonium sulphate worldwide, comprising 25% of global imports. The second position in the ranking was taken by the United States ($379M), with a 5.7% share of global imports. It was followed by Turkey, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled +14.9%. In the other countries, the average annual rates were as follows: the United States (+17.6% per year) and Turkey (+10.7% per year).

Import Prices By Country

The average ammonium sulphate import price stood at $301 per ton in 2022, rising by 35% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ammonium sulphate import price increased by +87.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 39% against the previous year. Global import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($342 per ton), while Turkey ($210 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+2.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Ammonium Sulphate

For the sixth consecutive year, the global market recorded growth in shipments abroad of ammonium sulphate, which increased by 22% to 23M tons in 2022. Overall, exports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 22% against the previous year. The global exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, ammonium sulphate exports skyrocketed to $5.7B in 2022. In general, exports showed a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 84%. Over the period under review, the global exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports By Country

In 2022, China (13M tons) was the major exporter of ammonium sulphate, generating 58% of total exports. Belgium (3.4M tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (7%). The United States (680K tons), Japan (461K tons), Canada (387K tons) and Germany (366K tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the ammonium sulphate exports, with a CAGR of +20.0% from 2012 to 2022. At the same time, Belgium (+7.0%), the Netherlands (+5.4%), Canada (+3.2%) and Germany (+1.7%) displayed positive paces of growth. By contrast, Japan (-3.6%) and the United States (-6.1%) illustrated a downward trend over the same period. While the share of China (+39 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Japan (-3.9 p.p.) and the United States (-8.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.3B) remains the largest ammonium sulphate supplier worldwide, comprising 57% of global exports. The second position in the ranking was taken by Belgium ($787M), with a 14% share of global exports. It was followed by the Netherlands, with a 4.9% share.

In China, ammonium sulphate exports expanded at an average annual rate of +21.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (+8.0% per year) and the Netherlands (+4.0% per year).

Export Prices By Country

The average ammonium sulphate export price stood at $249 per ton in 2022, picking up by 27% against the previous year. In general, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ammonium sulphate export price increased by +92.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 51%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($519 per ton), while Japan ($163 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+6.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform