The North American ammonium and potassium thiosulfate market was expected to ba valued at USD 118.69 billion in 2023 and is anticipated to reach USD 125.95 billion in 2024 from USD 202.58 billion by 2032, growing at a CAGR of 6.12% from 2024 to 2032.
Ammonium thiosulfate is a great source of nitrogen and sulfur. It contains 26% of sulfur and 12% of nitrogen, both of which are major components of plant proteins. Potassium Thiosulfate is an excellent source of potash and sulfur. It contains 17% sulfur and 25% of potash. Potash is one of the most essential nutrients required by the plants.
Both ammonium and potassium thiosulfate are used as fertilizers in a variety of crops. Moreover, both are compatible with each other when mixed in any ratio. They can be applied as starter fertilizers for corn and other small-seeded crops. They can be used on crops, ornamental shrubs and golf courses through soil, foliar, fertigation applications.
Growing demand for water-soluble macronutrient fertilizers, compatibility of ammonium and potassium thiosulfate fertilizers with many crop protection chemicals and the wide range of applications of these products are driving the market growth. However, the availability of various alternatives to these fertilizers and growing trend of organic agriculture are inhibiting the market growth.
Potassium thiosulfate holds the largest market share by a small margin due to its application as a starter and pop-up fertilizer apart from normal applications.
Ammonium thiosulfate is widely applied using fertigation and foliar methods as it is widely available as liquid fertilizer. Potassium thiosulfate is applied using all three of the application methods and the method is chosen depending on the type of crop it is used on.
On the basis of region, the North American ammonium and Potassium Thiosulfate market is segmented into
The United States leads the market in North American region due to the high awareness and due to the large-scale production of commercial crops.
Some of the major players in the ammonium and potassium thiosulfate market are Tessenderlo Group, Koch Fertilizer, Agrium, Martin Midstream Partners, Rentech Nitrogen, Poole Chem, Mears Fertilizer, Hydrite Chemical, Kugler, and R.W. Griffin.
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