Sulfur Fertilizers Market Forecast
Market Research Future (MRFR) studied the global sulfur fertilizers market 2020 through the analysis period. Between 2020 and 2028, the sulfur fertilizer market is expected to rise at a 2.1% CAGR. By 2026, the sulfur fertilizer market value can value is anticipated to value USD 4 Billion. The declining sulfur content in soil is creating the demand for a different types of sulfur fertilizers. The increasing adoption of high-grade sulfur fertilizers to produce a better-quality crop, along with the factor are likely to benefit the market. The growing awareness about precision agriculture can improve the impetus of the sulfur fertilizer market. However, the inclination of people towards organic products is rigorously promoting organic farming, thus dropping the need for sulfur fertilizers. This can hinder the growth of the sulfur fertilizer market soon.
Market Segmentation
The segment analysis of the sulfur fertilizer market is based on form, type, crop type, and mode of application.
The type-based segments of the sulfur fertilizer market growth analysis are sulfate, sulfate of micronutrients, and elemental sulfur among others. The sulfate segment is expected to hold a significant share of the global market by 2026. The increasing dominance of the sulfate segment can be attributed to the rising applications of sulfate fertilizers due to their greater preference among other types of sulfur fertilizers. Sulfate is a readily available form of sulfur that is easily absorbable by plants, thus increase in sales of sulfate fertilizers, such as ammonium sulfate, potassium sulfate, and magnesium sulfate can benefit the market.
The form-based segments of the sulfur fertilizer market are dry and liquid. The dry segment can earn considerable revenue by 2026. The dry segment can rise at a decent CAGR in the review period. Easy application and extended shelf life of dry fertilizers are causes that can support the expansion of the segment. The availability of the different forms of dry sulfur fertilizers, such as granulated and powdered fertilizers, is also expected to impact the market. Moreover, the increasing sales of dry elemental sulfur can significantly influence the dry segment.
The mode of application-based segments of the sulfate market is foliar, fertigation, and soil. The widely adopted mode of application of sulfur fertilizers is the soil. Sulfur fertilizers are applied through different techniques, such as banded, broadcasting, and seed placement can impact the market. The soil application segment is also expected to thrive owing to the affordability of soil fertilizer application.
The crop type-based segments of the sulfate market are cereals & grains, Fruits & Vegetables, and Oilseeds & Pulses among others. The cereals and grain segment is expected to garner decent revenue by 2019 and it is expected to continue to do so during the forecast period. Large production of cereals and grains across the globe is amongst the major factors contributing to the high use of sulfur fertilizers in the segment. Sulfur fertilizers are majorly applied through the broadcasting technique in cereals and grains, to overcome the sulfur deficiency in the soil.
Regional Study Analysis
North America, the EU, and APAC are regions that are assessed by MRFR to understand the demographic dynamics of the market. Asia Pacific sulfur fertilizers market can thrive in the review tenure. The introduction of robust farming techniques and the adoption of sulfur macronutrients to deliver better nutrition to plants are causes that can drive the sulfur fertilizers in the study period. The existence of reputed fertilizer suppliers in the region is likely to add to the APAC sulfur fertilizer market. The adoption of different growth strategies to gain their global foothold through product launches, mergers, expansions, and acquisitions among others can also prompt the APAC sulfur fertilizer market. Indonesia, Vietnam, and India are observed as major regions that are some important regions contributing to the regional market growth.
In Europe, the sulfuric acid in fertilizer market is expected to rise at a decent pace at a notable CAGR in the forecast tenure, following North America. The increase in awareness about modern agriculture solutions to combat declining sulfur content in soil can prompt the sulfur fertilizer market growth in these regions.
Key Players
Nutrien, Ltd. (Canada), Yara International ASA (Norway), Deepak Fertilizers and Petrochemicals Ltd. (India), Koch Industries, Inc. (the US), The Mosaic Company (US), Nufarm Limited (Australia), Coromandel International Limited (India), ICL (Israel), EuroChem Group (Switzerland), and K+S Aktiengesellschaft (Germany) are some reputed companies in the sulfur fertilizer market that are studied by MRFR to gain insights into the competitive landscape of the market.
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