May 05, 2021
Demand for Sulfate and Elemental Sulfur Fertilizers to Remain High: Fact.MR
by Team Fact.MR
Demand for sulfur fertilization is gaining momentum with a wide variety of products on offer, such as sulfate, elemental sulfur, liquid sulfur, and others. With advancements in key application sectors such as cereals and grains, fruits & vegetables, and oilseeds, to name a few, sulfur fertilizer manufacturers are expected to gain higher revenues over the coming years.
According to a latest report by Fact.MR, North America and Europe will take center stage, while Asia Pacific will register the fastest growth over the next ten years. Overall the industry is set to surpass a US$ 5.5 billion valuation by 2031, expanding at a steady CAGR of over 3% over the decade.
Key Takeaways from Market Study
- High demand for sulfate and elemental sulfur likely to be witnessed.
- Rise in application in cereals & grains to boost overall sales.
- The United States to lead in North America’s sulfur fertilizer industry.
- Germany remains at the forefront of Europe’s market for sulfur fertilizers.
- The market in Asia Pacific to exhibit the fastest growth throughout the forecast period of 2021 to 2031.
- China, Japan, India, Croatia, the United Kingdom, and Canada to maintain positive industry outlook in future.
“Incorporation of cutting-edge technologies by leading manufacturers are aiding demand growth of sulfur fertilizers. Furthermore, increase in production of the most sought-after product types such as elemental S fortified N/P fertilizers, sulfate, etc., is augmenting industry growth,” says a Fact.MR analyst.
Demand being Driven by Agriculture Industry
Various types of sulfur fertilizers have extensive application in the agriculture sector, such as in the production of cereals & grains, fruits & vegetables, and others. As a result, steady expansion of the agriculture industry is bolstering the growth for sulfur fertilizers.
According to a report titled “Agribusiness Industry Spotlight”, published by SelectUSA, the United States agribusiness industry is highly potential, while contributing over US$ 159 billion in export sales to the U.S. economy, as in 2018. As stated in a report published by the European Commission (EC) on 12th April 2021, the EU’s agriculture industry created an estimated gross value added of EUR 177.0 billion in 2020. These figures give a glimpse of the growing opportunities for sulfur fertilizer manufacturers around the globe.
Who is Winning in this Space?
With the competition getting fiercer, players in the global sulfur fertilizer market are focusing on diversifying their products.
- Zuari Agro Chemicals Ltd. launched its new range of Jai Kissan SOP, Jai Kissan Suraksha, and others, a couple of years back.
- H Sulfur Corp recently launched its new range of Solo Agri S90, Super-S, and others.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the sulfur fertilizer market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of type (sulphate, elemental sulfur, liquid sulfur, and others) and application (cereals & grains, fruits & vegetables, oilseeds & pulses, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
Fact. MR’s Domain Knowledge in Chemicals and Materials
Our chemicals and materials consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemicals and materials sector. Our expertise in recognizing the challenges and trends impacting the global chemicals and materials industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Consultant - Chemicals and Materials
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