Ammonium thiosulfate has experienced a significant increase in demand from various end-use industries including agrochemical, pharmaceutical, water treatment, agriculture, and mining.
Due to increasing demand for crop production worldwide, demand for Nitrogen and phosphate-based fertilizers is expected to increase in the coming years. An increased need for more nutrients in the soil increases the uptake of ammonium thiosulfate.
Because ammonium thiosulfate fertilizers provide certain vital elements for plant and crop growth, they will increase acceptance in the agricultural sector and boost sales. In addition, the decrease ithe n land area around the world due to increasing urbanization and industrialization will also drive the demand for ammonium thiosulfate.
The market for ammonium thiosulfate saw moderate growth in FQ-20 due to the sudden outbreak of Covid-19. Declining demand in the industry resulted in a slight drop in sales.
However, the market is expected to show positive growth prospects, supported by increasing demand for ammonium thiosulphate from the agricultural sector. According to FutureMarket Insights, the global Ammonium Thiosulfate Market is expected to grow at a healthy CAGR of 6.6% during the
forecast period 2021 and 2031.
Ammonium Thiosulfate Market: Player Insights
The major players in the global ammonium thiosulfate market are Tessenderlo Kerley, Inc., Koch Nitrogen International Sarl, Kugler Co., Martin Midstream Partner, TIB Chemicals AG, Esseco Srl, PCINitrogen, Shakti Chemicals.
Major players focus on strategic expansions by expanding production capacity, in emerging markets by creating new production units, collaborations, and mergers and acquisitions of other market players to increase their presence in the market.
Ammonium Thiosulfate Market by Category
By Form Type:
- Industrial Grade
- Photo Grade
By End Use:
What is the impact of COVID-19 on the Ammonium Thiosulfate market?
The global economy experienced a significant downturn due to the sudden outbreak of COVID-19. The global lockdown halted business activities, leading to a disruption in the supply chain network. The industrial sector, mining sector, and construction sector have suffered the most.
However, the agricultural sector has shown a stable trajectory during the pandemic as it is included in the category of essential services and agricultural products are classified as critical products, which exempt them from the restrictions of.
In addition, the demand and supply of certain fertilizers decreased due to the pandemic. Ammonium thiosulfate is made from sulfur and is extracted from oil and petroleum. Gas refineries. Due to the pandemic, ammonium thiosulfate production declined due to supply chain disruptions and reduced oil and gas production. Gas requirement.