Global Sulfamic Acid Market Driven by Agricultural Fertilizers

Sulfamic acid or sulfamidic acid is an organic compound with the formula H3NSO3. It is a colorless, odorless, water-soluble crystalline powder that dissolves in water. Sulfamic acid has various industrial and agricultural applications. It is primarily used as an agricultural fertilizer additive to increase crop yields as it enhances the uptake of nutrients like nitrogen, phosphorus and potassium by plants. Sulfamic acid also finds applications as a pH buffer, cleaning agent and as a intermediate in dye synthesis. The increasing demand for food owing to rising global population has boosted the usage of agricultural fertilizers which is a key factor driving the growth of the global sulfamic acid market.

The Global Sulfamic Acid Market is estimated to be valued at US$ 243.31 Bn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the sulfamic acid market are Golden Time Chemical (Jiangsu) Co., Ltd., DI-CORP, Palm Commodities International, Raviraj Chemicals, Nissan Chemical Corporation, Donau Chemie, Acuro Organics Limited, Vedic Orgo LLP, Shandong Mingda Chemical Technology Co., Ltd, LaizhouZhongda Chemicals Co., Ltd, Honeywell International , Jinan Jinhao Chemical Co., Ltd., Laizhou Guangcheng Chemical Co., Ltd., Laizhou Jinxing Chemical, Shandong Mingda Chemical Technology Co., Ltd, Timuraya, and Yantai Sanding Chemical Co., Ltd.
The growing demand for fertilizers from the agricultural sector is fueling the growth of sulfamic acid market. Sulfamic Acid Market Size enhances crop yield and nourishes the soil with important nutrients. Asia Pacific region is expected to witness fastest growth in demand for sulfamic acid owing to rising food requirement of burgeoning population in countries like India and China.
Key players are expanding their production capacities globally especially in Asian markets to leverage the increasing demand for agricultural fertilizers from the region. They are also investing in R&D to develop new applications and improved formulations of sulfamic acid to further accelerate market growth.

Market Drivers
One of the key drivers for the global sulfamic acid market is the rising demand for agricultural fertilizers. With increasing population worldwide, the demand for food is surging rapidly which is progressively driving the consumption of fertilizers for higher crop productivity. Sulfamic acid helps in improving the nutrient uptake efficiency of fertilizers thereby enhancing crop yields substantially. This growing need for crop nutrition solutions to meet escalating food demand acts as a major growth driver for the sulfamic acid market.

How the geopolitical situation is impacting the growth of Sulfamic Acid Market:

The ongoing geopolitical conflicts and economic uncertainties are posing challenges for the smooth growth of the sulfamic acid market globally. The Russia-Ukraine war has disrupted the supply chains and export-import activities of key chemicals from the region. Both the countries are major producers and exporters of sulfamic acid. The import restrictions and sanctions on Russia have hampered the supply of raw materials for many acid derivative manufacturing companies based in Europe and Americas. This has led to a rise in input costs.

At the same time, many European nations have reduced their dependency on Russian energy to protest against the invasion. This has increased their manufacturing costs. Many producers are facing financial struggles to sustain operations under the rising energy prices. The global supply disruptions and sanctions have restricted the availability of low-cost sulfamic acid in international markets. It is compelling buyers to rely on substitute acids or explore new supply sources from Asia and the Middle East. The ongoing trade tensions between China and the US are also affecting the movement of sulfamic acid across borders.