October 16, 2020
According to the research report titled ‘Global Sulfur Fertilizers Market Size study with COVID-19 Impact, by Type (Ammonium Sulphate, Single Superphosphate, Sulphate of Potash, Ammonium Nitrate-Sulphate, and Sulphate Containing Compound Fertilizers), by Type of Agriculture (Controlled Environment Agriculture, Conventional Agriculture, and Others) and Regional Forecasts 2020-2027‘, available with Market Study Report, global sulfur fertilizers market was valued at USD 4.5 billion in 2019 and is expected to witness a CAGR of 2.2% during 2020-2027.
Rising issue of sulfur deficiency in soil, increasing preference for high-quality crops, and stringent government rules to curb sulfur emissions are the major factors bolstering global sulfur fertilizers market growth.
Sulfur is one of the important plant nutrients required by all crops for optimum production. It helps in formation of chlorophyll for photosynthesis, through which plants produce sugars, starch, oils, vitamins, fats, and other compounds, which drives the demand for sulfur fertilizer across the globe.
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However, increasing prevalence of COVID-19 has caused lockdowns across various nations, negatively impacting global sulfur fertilizer market dynamics. Despite that, government initiatives to ensure availability of soil nutrients to farmers amidst the pandemic will create growth prospects for industry partakers. According to trusted sources, Ministry of Chemicals and Fertilizers in India deployed a team to frame a roadmap to amplify the fertilizer sector.
Furthermore, launch of innovative products and incorporation of other strategies by leading companies will provide impetus to global sulfur fertilizers market outlook. However, rising trend of organic fertilizers usage may arrest the industry remuneration over 2020-2027.
Based on type of agriculture, worldwide sulfur fertilizers industry is segmented into conventional agriculture, controlled environment agriculture, and others. With regards to type, the industry is bifurcated into sulphate of potash, ammonium sulphate, sulphate containing compound fertilizers, single superphosphate, and ammonium nitrate-sulphate.
From regional point of view, global sulfur fertilizers marketplace is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. Asia Pacific was the major contributor in terms of industry share in the past year and is anticipated to witness highest growth rate over 2020-2027, mainly due to rise in agricultural practices and requirements for high-quality agricultural produce in the region.
Major players influencing global sulfur fertilizers market trends include Nutrien Ltd., Koch Industries Inc., Yara International ASA, Nufarm Limited, Deepak Fertilizers and Petrochemicals Ltd., K+S AG, EuroChem Group ag, ICL Corporate, Coromandel International Ltd., and The Mosaic Company.