Global Liquid Ammonium and Liquid Potassium Thiosulfate Market - 2023-20230

Overview

Global Liquid Ammonium and Liquid Potassium Thiosulfate Market reached US$ 27.2 billion in 2022 and is expected to reach US$ 55 billion by 2030, growing with a CAGR of 9.2% during the forecast period 2023-2030.

The global population is projected to reach 9.7 billion by 2050, intensifying the pressure on the world's food supply. To meet this escalating demand, farmers are turning to modern agricultural practices, including the adoption of liquid fertilizers. Among these, liquid ammonium and liquid potassium thiosulfate stand out as efficient fertilizers that provide numerous advantages over conventional solid fertilizers. These benefits include ease of application, rapid nutrient absorption by plants, and a reduction in nutrient loss, which aligns with sustainable farming practices.

Companies are exploring new markets and regions for liquid thiosulfate products and expanding their market presence globally. In January 2023, Tessenderlo Group announced that it had signed a contract to buy the marketing and sales operations for the ammonium thiosulfate (ATS) fertilizers made in Trecate, Italy, by Esseco Srl, a subsidiary of Esseco Group.

Liquid ammonium thiosulphate holds a significant share of the liquid ammonium and liquid potassium thiosulfate market due to its versatile nutrient composition. North America held a significant share of the liquid ammonium and liquid potassium thiosulfate market due to its large agricultural industry. According to USDA, In 2023, producers surveyed across the United States plan to plant 92.0 million acres of corn, an increase of 4% from the previous year, which resulted in greater consumption of fertilizers including liquid ammonium and liquid potassium thiosulfate.

Dynamics

Rising Awareness Regarding the Importance of Nutrient Management and Soil Health

Liquid ammonium and liquid potassium thiosulfate are known for their nutrient content. They provide various vital macronutrients (nitrogen and potassium) and micronutrients (sulfur) that are important for plant growth and development. As the population is growing globally, the demand for crop productivity is also growing which demands liquid ammonium and liquid potassium thiosulfate in agricultural fields for their nutrient content.

These liquid fertilizers also contribute to soil health. They improve soil structure, enhance nutrient retention, and mitigate nutrient imbalances, promoting a more sustainable and fertile environment for crop growth. As sustainable agriculture gains momentum, the demand for products that support soil health continues to rise. According to the FAI, the Fertilizer Association of India, in the 19th Edition of FCO, which was released in July 2021, several new items and other revisions that had been notified up until that point were also incorporated. After that, the FCO now contains two liquid fertilisers potassium thiosulfate and calcium thiosulfate (CaS2).

Government Support

Governments globally provide financial incentives and subsidies to promote sustainable farming practices. This includes the use of various fertilizers like liquid ammonium and liquid potassium thiosulfate, which can improve nutrient management and reduce environmental impact. In June 2023, The government unveiled a Rs. 3.7 lakh crore fertilizer program as part of a package for the agricultural industry.

Government regulations frequently restrict traditional fertilizers due to concerns about nutrient runoff and water pollution. Liquid ammonium and potassium thiosulfate are acknowledged for their capacity to mitigate nutrient runoff. Governments promote these products to comply with environmental regulations. By reducing the risk of nutrient leaching, liquid thiosulfates align with sustainability goals and regulatory requirements. Their use helps maintain water quality, making them an eco-friendly choice for modern agriculture.

High Production Costs

The specialized manufacturing processes and raw materials required for liquid ammonium and liquid potassium thiosulfate can result in higher production costs compared to traditional fertilizers. These elevated costs make the final products less competitive in price-sensitive markets, which may deter some farmers from adopting them.

Farmers, particularly small-scale and family-owned operations, have limited budgets. The higher cost of liquid thiosulfate products can strain their financial resources, limiting their ability to invest in these specialized fertilizers. The cost sensitivity of many farmers makes it challenging for liquid thiosulfate products to compete effectively.

Segment Analysis

The global liquid ammonium and liquid potassium thiosulfate market is segmented based on type, application, end-user and region.

Liquid Ammonium and Liquid Potassium Thiosulfate's Versatility Nutrient Composition

Liquid ammonium thiosulfate's balanced blend of nitrogen (ammonium) and sulfur (thiosulfate) offers versatility, making it a preferred choice for various crops. Farmers benefit from the convenience of addressing multiple nutrient requirements with a single product, optimizing nutrient management and crop growth. Ammonium-based nitrogen in liquid ammonium thiosulfate is readily available to plants, promoting efficient nutrient uptake. This quick availability can lead to faster and more noticeable responses in crop growth.

Sulfur in thiosulfate form can also contribute to improved soil health. It aids in soil structure and microbial activity, benefiting long-term soil quality. Hydrite Chemical offers Ammonium Thiosulfate (ATS), a neutral to slightly basic clear liquid, having 12% nitrogen and 26% sulfur. It is commonly referred to as 12-0-0-26s, It is mainly used for corn, soybean and alfalfa.

Geographical Penetration

North America's Growing Agriculture Industry

North America, particularly the United States and Canada, boasts a substantial and highly developed agricultural sector. According to USDA, In 2021, the U.S. agriculture, food, and allied industries made up around 5.4 percent of the country's GDP, or $1.264 trillion. About 0.7 percent of the U.S. GDP, or $164.7 billion, came from the agricultural output of America. This vast agricultural industry drives the demand for various fertilizers including liquid ammonium and liquid potassium thiosulfate market growth.

According to the World Bank's collection of development indicators, fertilizer use (as a % of fertilizer production) in the United States in 2021 was reported at 112%. This rising fertilizer production and consumption acts as a key trend for liquid ammonium and liquid potassium thiosulfate market growth.

Competitive Landscape

The major global players include Plant Food Company, Inc., Hydrite Chemical, Tessenderlo Kerley Internationa, Mears Fertilizer, Inc., Martin Midstream Partners L.P., Kugler Company, Poole Agribusiness, Shakti Chemicals, Omnia Specialities Pty, TerraLink Horticulture Inc.

COVID-19 Impact Analysis

COVID Impact

The pandemic disrupted global supply chains, affecting the production and distribution of fertilizers, including liquid thiosulfates. Shutdowns, labor shortages, and transportation bottlenecks hindered the timely delivery of these products to farmers. Economic challenges resulting from the pandemic affected farmers' budgets and financial capacity. The cost of liquid thiosulfate products, which can be higher than traditional fertilizers, made them a potential target for cost-cutting measures.

The pandemic caused uncertainty in the agricultural sector. Some farmers faced financial challenges due to market disruptions and sought to reduce costs, potentially impacting the demand for specialized fertilizers like liquid ammonium and potassium thiosulfate. The need for social distancing and restrictions on labor availability in some regions may have led to adjustments in farming practices. These changes could have affected the adoption and application of liquid ammonium and potassium thiosulfate products.

Russia- Ukraine War Impact

Russia and Ukraine play significant roles in the global fertilizer industry, producing vital fertilizer components. Disruptions in their production and supply chains can hinder the availability of raw materials, potentially affecting the production and distribution of liquid thiosulfate products. The conflict's impact on the fertilizer supply chain led to uncertainty and price fluctuations, influencing the broader agricultural sector.

Geopolitical tensions caused price uncertainty in commodity markets, affecting key fertilizer inputs like sulfur and natural gas. Export restrictions during conflicts limited fertilizer availability globally, impacting supply and pricing. Additionally, currency exchange rate fluctuations influenced the cost and competitiveness of liquid ammonium and potassium thiosulfate products, posing challenges for the market.

By Type

• Liquid Ammonium Thiosulfate
• Liquid Potassium Thiosulfate

By Application

• Fertilizers
• Binder and Adhesive
• Household and Industrial Cleaners
• Fabrics
• Water Treatment
• Plastics
• Others

By End-User

• Agriculture Industry
• Textile Industry
• Building and Construction Industry
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In October 2020, TIB built new TIB THIO ATS (Ammonium Thiosulfate) storage tanks which have helped to safely store large amounts of chemicals
• In May 2021, Koch Fertiliser (KF) constructed a 2-million-gallon ammonium thiosulfate (ATS) terminal at its Fort Dodge site to support growing demand. The terminal was inaugurated and put into service in December 2021.
• In December 2022, Tessenderlo had a groundbreaking ceremony for the new Thio-Sul (ammonium thiosulfate/ATS) manufacturing plant at its Chemelot site in Geleen, the Netherlands.

Why Purchase the Report?

• To visualize the global liquid ammonium and liquid potassium thiosulfate market segmentation based on type, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of liquid ammonium and liquid potassium thiosulfate market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global liquid ammonium and liquid potassium thiosulfate market report would provide approximately 61 tables, 61 figures and 189 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies