Due to its high critical humidity temperature, ammonium sulphate is particularly suitable for rice cultivation. According to the analysis of the publisher, rice is the most important staple crop in Vietnam, with a planting area exceeding 700 hectares. Rice is the main food for the Vietnamese, accounting for 90% of total grain consumption, resulting in a huge and rigid demand for ammonium sulphate in the domestic market of Vietnam.
Vietnam is an agricultural powerhouse, where agriculture plays a significant role in the national economy and is one of its backbone industries. In 2023, agriculture contributed 12% to Vietnam's real GDP growth, with more than 50% of the population in rural. Arable and forest land make up 60% of Vietnam's total land area. The analysis of the publisher has reported that, due to limited domestic fertilizer production capacity, Vietnam needs to import 3-4 million tons of fertilizers annually. Vietnam is one of the largest users of chemical fertilizers globally, heavily relying on imports, with annual chemical fertilizer usage approaching 7.7 million tons. The ammonium sulphate market of Vietnam relies heavily on imported products.
According to the publisher, the overalTrend of the fertilizer market in Vietnam has been upward over the past five years, with an annual apparent consumption exceeding 6 million tons and a market size of over US$ 2 billion annually. Nitrogen fertilizers are among the most imported fertilizers in Vietnam, accounting for nearly 30% of total fertilizer imports, with an import value of about US$ 300 million, surpassing 20% of the total fertilizer import value. Ammonium sulphate is the most widely used nitrogen fertilizer in agriculture, with Vietnam importing ammonium sulphate worth approximately US$ 180 million in 2023. From January to May 2024, Vietnam has already imported nearly US$ 100 million worth of ammonium sulphate based on the data of the publisher, indicating a continued growth trend in market demand.
Agricultural product exports are also a major source of Vietnam's trade surplus. In 2023, Vietnam's agricultural product export value reached US$ 53 billion, with internationaTrade surplus accounting for 42.5% of Vietnam's totaTrade surplus. The analysis of the publisher expects Vietnam's agricultural exports to exceed US$ 55 billion in 2024, with rice exports likely to surpass 8 million tons. Given the rapid expansion of agricultural production capacity in both international and domestic markets, the demand for ammonium sulphate is also rising.
According to the publisher, the main sources of ammonium sulphate imports in Vietnam from 2021 to 2024 include China, Japan, etc. Key companies exporting this product to Vietnam are CONG TY HUU HAN THUONG MAI CAM THANG HA KHAU, Fibrant (Shanghai) Chemical Co., Ltd., and Sojitz Corporation. Major importers of ammonium sulphate in Vietnam include local fertilizer distributors and logistics companies, as well as foreign enterprises. Those importers include Thuy Ngan Trading Company Limited, Japan Vietnam Fertilizer Company, Agricultural Products and Materials Joint Stock Company, etc.
Overall, with the growing population and continuous agricultural development in Vietnam, the demand for ammonium sulphate will continue to increase. The publisher forecasts that from 2024 to 2033, the import volume of ammonium sulphate in Vietnam will continue to rise, playing an important role in stabilizing and boosting agricultural production in the country.
Topics covered:
- The Import and Export of Ammonium Sulphate in Vietnam (2021-2024)
- Total Import Volume of Ammonium Sulphate in Vietnam (2021-2024)
- Total Import Value and Growth Rate of Ammonium Sulphate in Vietnam (2021-2024)
- Total Import Value and Growth Rate of Ammonium Sulphate in Vietnam (January-May 2024)
- Average Import Price of Ammonium Sulphate in Vietnam (2021-2024)
- Top 10 Sources of Ammonium Sulphate Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Ammonium Sulphate in Vietnam and Their Supply Volume
- Top 10 Importers of Ammonium Sulphate in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Ammonium Sulphate in Vietnam
- How Foreign Enterprises Enter the Fertilizer Market of Vietnam
- Forecast for the Import of Ammonium Sulphate in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- CONG TY HUU HAN THUONG MAI CAM THANG HA KHAU
- Fibrant (Shanghai) Chemical Co. LTD.
- Sojitz Corporation
- Thuy Ngan Trading Company Limited
- Japan Vietnam Fertilizer Company.Agricultural Products and Materials Joint Stock Company
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | July 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 185.06 Million |
| Forecasted Market Value ( USD | $ 252.22 Million |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 5 |
