Ammonium Thiosulfate Market Insights
Ammonium Thiosulfate is an inorganic chemical compound majorly used in the making of liquid fertilizers. Ammonium Thiosulfate is produced by the reaction of elemental sulfur, aqueous ammonia and sulfur dioxide. The produced liquid of Ammonium Thiosulfate is highly soluble in water, and compatible with Nitrogen solutions and a number of other fluid fertilizers like NPK liquid blends. Ammonium Sulfate (ATS) consists of around 12% N and 26% S. Ammonium Thiosulfate acts as a source of sulfur and nitrogen for crops, which are required for better yields. Ammonium Thiosulfate is conventionally used in clear liquid blends and to some extent in suspensions. Ammonium Thiosulfate is mixed with a Urea Ammonium Nitrate solution commonly known as UAN solution for use as a fertilizer. Easy to handle and easy to mix, Ammonium Thiosulfate mixed with UAN can be applied by drip irrigation or sprinklers.
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Ammonium Thiosulfate Market: Dynamics
The key driving factor for the global Ammonium Thiosulfate market is the growing utilization of Ammonium Thiosulfate in agriculture applications as liquid fertilizer formulations. The global population is on the rise and could almost double until 2050. With the available technologies, the modern agriculture feeds over seven billion. With the fast depleting non-renewable resources and climate changes, the necessity for a change in agriculture manufacturing practice rises. Increasing yield using sustainable solutions is a major challenge in the sector of agriculture. The increase in sales of Ammonium Thiosulfate is due to its ability to act as a nitrification inhibitor that reduces nitrogen loss. Ammonium Thiosulfate inhibits the conversion of ammonium (NH4) to nitrate (NO3). Ammonium Thiosulfate is also a source of sulfur which helps proved better yields and quality of crops. These features are highly anticipated to drive the global Ammonium Thiosulfate market. The market has experienced certain capacity expansions and agreements recently with Tessenderlo Kerly Inc. expanding its Ammonium Thiosulfate manufacturing capacity in the United States. Kugler Co., another Ammonium Thiosulfate manufacturer collaborated with Hydrite Chemical Co. to increase its reach in the US markets. With more market penetration rates in the US and lower in others regions, regions like APEJ will offer ample opportunities in the Ammonium Thiosulfate market.
Ammonium Thiosulfate Market: Regional Outlook
Based on geographies, the global Ammonium Thiosulfate market is segmented into seven regions including North America, Latin America, Europe, CIS & Russia, Japan, APEJ (the Asia Pacific excluding Japan) and MEA. Among the above-mentioned countries, North America is estimated to account for more than 60% of global production and consumption with major producers having their manufacturing facilities in the region. The region is also anticipated to witness a medium to high growth in the global Ammonium Thiosulfate market on the back of U.S. Moreover, APEJ followed by Europe are projected to showcase phenomenal growth in the global Ammonium Thiosulfate market due to lower current market penetration rates and rising awareness of sustainable agricultural practices. Middle East & Africa, Latin America and Europe account for a mere single digit market share in terms of demand.
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Ammonium Thiosulfate Market: Prominent players
Prominent players for the global Ammonium Thiosulfate market are Tessenderlo Kerley, Inc., Koch Nitrogen International Sarl, Kugler Co., Martin Midstream Partners, TIB Chemicals AG, Esseco Srl, PCI Nitrogen, Shakti Chemicals, and other key market players. The Ammonium Thiosulfate market consists of well-diversified global and regional players with the global vendors are ruling the market.
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