Sulfur Fertilizers Market will Hit Big Revenues in the Future

Posted on 2021-06-14 by MarketsandMarkets in Agriculture // 0 Comments

The global sulfur fertilizers market is estimated to be valued at USD 4.6 billion in 2020 and is projected to reach USD 5.1 billion by 2025, recording a CAGR of 2.2%. The growth of the sulfur fertilizers market is driven by various factors, such as the increase in sulfur deficiency in soils across the world due to strict regulations on sulfur emission and the cultivation of high-yielding crop varieties.

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By crop type, the oilseeds & pulses segment is projected to be the fastest-growing in the sulfur fertilizers market during the forecast period.

A majority of the global oilseed production occurs in semi-arid tropical areas where the average yield is low. The oilseeds are drought-tolerant with low transpiration. Hence, crops in these regions suffer from sulfur deficiency due to insufficient supply. Soybean, canola, and groundnut are the major crops considered under this segment that utilize sulfur fertilizers. Sulfur is used as a plant nutrient for the synthesis of oil and the production of proteins. The sulfur requirement in oilseeds is comparatively higher than the other crops. Hence, it is projected to dominate the market during the forecast period.

By type, the sulfates segment is projected to dominate the global market during the forecast period.

In 2025, the sulfates segment is projected to dominate the global market in terms of value. This is due to the high consumption of traditional and new sulfate fertilizers, such as ammonium sulfate, single superphosphate, ammonium phosphate sulfate, potassium sulfate, and sulfates of micronutrients, across regions. In addition, the main advantage offered by sulfate fertilizers is its sulfur supply in the form of sulfate, which is readily available to plants.

By form, the dry segment is projected to be the fastest-growing in the sulfur fertilizers market during the forecast period.

The dry segment is projected to dominate the market due to its extended shelf life and relatively low cost. In addition, the consumption of the dry form of sulfur fertilizers, such as ammonium sulfate, single superphosphate, ammonium phosphate sulfate, and elemental sulfur, is high across the globe. These factors are projected to drive the growth of the market.

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The high demand for various crops in the Asia Pacific regions is projected to drive the growth of the market.

The increase in agricultural practices and requirements for high-quality agricultural produce are factors that are projected to drive the growth of the market in the Asia Pacific region. According to the World Bank, nearly 56.2% and 60.4% of the entire land area accounted for agricultural production in China and India, respectively, in 2015. Major crops produced in Asia include rice, sugar beet, fruits & vegetables, cereals, and grains; the region consumes nearly 90% of the global rice produced. There is a high demand for sulfur fertilizers in Asia Pacific due to its direct use to treat sulfur deficiencies. They are often sprayed in combination or as additives to NPK products.

Key players in this market include Nutrien, Ltd. (Canada), Yara International ASA (Norway), The Mosaic Company (US), ICL (Israel), and K+S Aktiengesellschaft (Germany). These players are focusing on increasing their presence through undertaking expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. They have a strong presence in North America, Asia Pacific, and Europe. In addition, they have their manufacturing facilities, along with strong distribution networks, in these regions.

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