Liquid Ammonium and Liquid Potassium Thiosulfate Material Market size is forecast to reach $55.4 billion by 2026 after growing at a CAGR of 10% during 2021-2026. Liquid ammonium & potassium thiosulfate are fertilizers that serve as a notable source of plant/crop sulfur. Such clear liquids are highly water-soluble and provide plants with various advantages such as increased chlorophyll content & plant growth, reduced build-up of non-protein nitrogen & nitrates, improved soil structure, increased decomposition of crop residues and others.
Liquid Ammonium and Liquid Potassium Thiosulfate Material Market Segment Analysis – By Type
Liquid ammonium segment held the largest share in the liquid ammonium and liquid potassium thiosulfate material market in 2020. Liquid ammonia is a suitable organic solvent for the molecules. For organic compounds, it is a better solvent than water but it is a worse solvent for inorganic compounds. The solubility of inorganic salts depends heavily on counter ion identification. Often known as ammonia liquor, it is an inorganic compound used in various industries such as rubber, pharmaceuticals and others as a liquid chemical. Approximately 80 per cent of global ammonia is consumed by the fertilizer industry; in particular, 48 percent of the ammonia produced is used in the production of urea (the most frequently used nitrogen fertilizer and basic feedstock for industrial products such as plastics, resins and adhesives, 11% for the production of ammonium nitrate, 20% for the production of other fertilizers such as ammonium sulfate, ammonium phosphate, diammonium phosphate and monoammonium phosphate and 3% directly for fertilizer use.
Liquid Ammonium and Liquid Potassium Thiosulfate Material Market Segment Analysis – By Application
Fertilizer segment held the largest share in the liquid ammonium and liquid potassium thiosulfate material market in 2020. Liquid ammonium & potassium thiosulfate are fertilizers that act as a notable source of plant/crop sulfur. These clear-appearing liquids are highly water-soluble and provide plants with various advantages, such as increased chlorophyll content & plant production, reduced build-up of non-protein nitrogen & nitrates, improved soil structure, increased crop residue decomposition, and others. Liquid ammonium thiosulfate is the most frequently used fertilizer containing sulfur, and a nitrogen supplier to plants. The two materials act as industrial chemicals and are used for photographic processing, water treatment, gold extraction, and other industrial applications.
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Liquid Ammonium and Liquid Potassium Thiosulfate Material Market Segment Analysis – By End Use
Agriculture segment held the largest share in the liquid ammonium and liquid potassium thiosulfate material market in 2020 growing at a CAGR of 14% between 2021-2026. An increasing global population will continue to use growing quantities of agricultural products for food, feed and industrial purposes. Much of the additional food demand over the next decade will originate in high population-growing regions, especially Sub-Saharan Africa, India, and the Middle East and North Africa. Over the next decade, agricultural production is expected to increase by 15 percent, while global agricultural land use is projected to be largely flat. The projected expansion in crop output can primarily be attributed to improved yields and increased production intensity, driven by technological innovation. In Agriculture mineral fertilizers may provide an ideal nutrient balance, customized to different crop, soil and climate requirements, improving crop yield and quality while reducing environmental impacts as well.
Liquid Ammonium and Liquid Potassium Thiosulfate Material Market Segment Analysis – By Geography
North America dominated the liquid ammonium and liquid potassium thiosulfate material market consisting share of 38% in 2020 followed by Europe and APAC. The growth in the region is supported by the presence of major producers and agriculture sector in the region. North America faces more complex climate than any other continent. Nearly every type of ecosystem is represented somewhere on the continent, from the Caribbean coral reefs to the Greenland ice sheets. These differences contribute to the variety of agricultural industries in North America, which are often divided by climate zone: tropical zone, subtropical zone, cool temperate area, and dry area. The U.S. agriculture sector extends to include a range of farm-related industries beyond the farm businesses. The most extensive of these are foodservice and food production. On average, American food spending amounts to 13 per cent of household budgets. Food aid greatly outstrips other services in the Federal Government’s outlays on farm and food programs. Agriculture, food and related industries contributed $1,053 trillion in 2017 to U.S. gross domestic product (GDP), a share of 5.4%. Of this amount, America’s farms’ production contributed $132.8 billion about 1 per cent of GDP. The growth in the agriculture sector will drive up the fertilizers demand resulting in growth of Liquid Ammonium and Liquid Potassium Thiosulfate Material market.
The economic impact of COVID-19 is no doubt devastating. No sector has escaped the impact of this. Its impact on farming is complex and varied across the various segments that make up the agricultural value chain. Its impact will reverberate across the larger economy, even among the different segments, and will last longer than a few months.
Liquid Ammonium and Liquid Potassium Thiosulfate Material Market Drivers
Rise in demand for horticulture crops to feed the population of fast-growing economies
According to the population projection by the UN, the total world population could reach 9.15 billion in 2050, which would require a 70% overall increase in food production, from which the production in developing countries would have to be doubled. Therefore, there increased demand for agricultural production along with the need for preserving the soil fertility and water resources to be able to feed the growing population while keeping up with the diet changes and nutritional requirements.
Rise in consumption of fertilizer
Increased demand for improved high-efficiency fertilizers, ease of use and use of liquid fertilizers, and the adoption of precise farming and safe farming are some of the factors that are expected to drive market growth. As a result of the advent of modern urease inhibitors and inexpensive polymer coating technology, enhanced performance fertilizers (EEF) are growing significantly in the agricultural industry in various fields, such as cereals and industrial crops.
Liquid Ammonium and Liquid Potassium Thiosulfate Material Market Challenges
Soil Damaging can restrict market growth
The soil-damaging attribute of these compound in dry conditions and limitation application in non-acidic soil are expected to hamper the market growth during the forecast period. Ammonium thiosulfate (ATS) is the most commonly used S-containing fluid fertilizer. However, these fertilizers should not be mixed with highly acidic solutions since this will cause the thiosulfate molecule to decompose and subsequently release harmful sulfur dioxide gas.
Toxicity in nature can restrict market growth
The toxicity of liquid ammonia and problems related to trace amounts of ammonia in the hydrogen after decomposition will impact the market growth. High ammonium loads can lead to eutrophication of natural waterways, leading to unintended changes in the quality of water and the environment. High ammonium loads can contribute to natural waterway eutrophication, leading to unexpected changes in water and environmental quality.
Liquid Ammonium and Liquid Potassium Thiosulfate Material Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Liquid Ammonium and Liquid Potassium Thiosulfate Material market. Major players in the Liquid Ammonium and Liquid Potassium Thiosulfate Material market rare Agrium, Koch Fertilizer, Hydrite Chemical, Kugler, Mears Fertilizer and Others.
Acquisitions/Technology Launches/ Product Launches
In October 2018, Grossdorf Agrochemical Company has launched new production of liquid carbomide-ammonium mixture fertilizers with a capacity of 60,000 tons per year. According to a company press release, with the opening of the plant its capacity in the area of liquid fertilizers production rose to 410,000 tons per year.
North America dominates the liquid ammonium and liquid potassium thiosulfate material market as the industry is highly mature in USA.
The global liquid ammonium & liquid potassium thiosulfate market is mainly driven by their high demand in agriculture due to its compatibility with different fluid fertilizers and water.
Over the past few years, the price of liquid ammonium thiosulfate has typically been down, but still influenced by the price of ammonium.
Related Reports :
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B. Plant Growth Regulators Market
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