Sulfur Fertilizers Market, Covid-19 Outbreak, Industry Scenario, Quality, Survey, Regional, Analysis, Segmentation, Key Players and Forecast to 2026

Market Forecast

Global Sulfur Fertilizers Market size is expected to cross USD 4 Billion by 2026 at a CAGR of 2.1% during the forecast period, 2020 to 2026. Fertilizers containing sulfur macronutrients in them are known as sulfur fertilizers. Prominent players active in the global market are focused on various growth strategies to maintain their positions in the market. Product launches, mergers & acquisitions, and expansion are amongst the major strategies adopted by the market players. For instance, in October 2019, K+S Aktiengesellschaft opened a new magnesium sulfate production facility in Germany, aiming at expanding its foothold in the European market. Similarly, in September 2019, Nutrien, Ltd. acquired Ruralco Holdings Limited, an Australia-based diversified agricultural company, to expand its presence in the Australian market.

Market USP

Rising demand for elemental sulfur enriched NPK fertilizers

Growth Opportunities in the Market

The Sulfate of Micronutrients Segment to Register the Highest Growth Rate During the Review Period: The growth of the segment is attributed to the rising awareness regarding the benefits of using sulfate-based micronutrients over carbonate-, nitrate-, or phosphate-based micronutrients. Sulfate of micronutrients are readily available to the plants and are cheaper than other forms of micronutrients. Additionally, sulfate-based micronutrients do not cause toxicity in plants, resulting in better crop yield.

The Oilseeds & Pulses Segment to Register the Highest CAGR During the Upcoming Years: Oilseeds are largely grown in semi-arid tropical areas of the globe. Soils in these areas are highly deficient in sulfur and thus result in low crop yield. Rising awareness amongst farmers regarding the importance of sulfur in plant growth has boosted the demand for sulfur fertilizers among the farmers growing oilseeds & pulses in these areas. Hence, the segment is expected to grow significantly during the upcoming years.

Increasing Application of Micronutrients to Boost the Growth of the Foliar Segment: Micronutrients are gaining importance in crop cultivation due to the rising awareness regarding their benefits in crop growth. Sulfate of micronutrients is amongst such micronutrients in high demand to overcome the deficiency of sulfur in plants. Micronutrients are majorly applied through foliar application as they directly come in contact with the plant foliar such as leaves, and are readily absorbed. Hence, the segment is emerging as a growing mode of application for sulfur fertilizers, especially sulfate of micronutrients.

Segmentation

By Type

• Sulfate: The segment accounted for the largest revenue share in 2019 and is expected to maintain its dominance during the forecast period. Sulfate fertilizers have a higher preference amongst the other types of sulfur fertilizers as sulfate is the most readily available form of sulfur for plants. Plants absorb sulfur from the soil in the form of sulfate. Owing to its molecular charge, sulfate can move easily in soil by repelling the same charge of soil particles. The most widely used sulfate fertilizers are potassium sulfate, ammonium sulfate, and magnesium sulfate.

• Elemental Sulfur

• Sulfate of Micronutrients

• Others

By Form

• Dry: The dry segment accounted for the larger market share in 2019 and is expected to register a higher CAGR during the forecast period. The segment’s dominance and growth can be attributed to the easy application of dry fertilizers and their extended shelf life. Dry sulfur fertilizers mainly include powdered and granulated fertilizers such as the elemental sulfur, which is contributing significantly to the growth of the segment.

• Liquid

By Mode of Application

• Foliar

• Fertigation

• Soil: Soil application of sulfur fertilizers is the most widely adopted mode of application. They can be applied through various techniques such as broadcasting, banded, and seed placement. Soil application of sulfur fertilizers helps in reducing the overall cost of fertilizer application.

By Crop Type

• Cereals & Grains: The segment accounted for the lion’s share in the global sulfur fertilizer market in 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.

• Oilseeds & Pulses

• Fruits & Vegetables

• Others

By Region

• North America

• Europe

• Asia-Pacific: Asia-Pacific is projected to gain the lion’s share in the global sulfur fertilizer market and grow with a notable CAGR during the forecast period. India, China, Indonesia, and Vietnam are among the major markets contributing to the regional market growth. Moreover, increasing awareness among farmers regarding the decreasing sulfur content in soil is also boosting the market growth in the region.

• Rest of the World

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Key Players

• Yara International ASA (Norway)
• Nutrien, Ltd. (Canada)
• Koch Industries, Inc. (US)
• Deepak Fertilizers and Petrochemicals Ltd. (India)
• The Mosaic Company (US)
• ICL (Israel)
• Coromandel International Limited (India)
• Nufarm Limited (Australia)
• K+S Aktiengesellschaft (Germany)
• EuroChem Group (Switzerland)

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.