Sulphur Coated Urea Market
Sulphur Coated Urea Market By Product Type (Wax Sulphur Coated Urea, Polymer Sulphur Coated Urea), By Application (Agriculture, Golf Courses, Professional Lawn Care & Turf, Others), By Region- Global Market Insights 2019 -2029
Sulphur Coated Urea Market to Gain Traction with Ascending Preference for Premium Fertilizers
Sulphur coated urea is predominantly used as a fertilizer in lawn/turf and horticulture applications. High net worth incomes has amplified the interest for aesthetically maintained lawns and gardens among consumers.
Additionally, in countries such as China, there is a growing trend of landscaping at urban and residential complexes, which is expected to further compliment the growth of the sulphur coated urea fertilizers market.
Consumption of sulphur coated urea in crops permits maximum penetration of nutrients in soil, which significantly eliminates losses due to leaching, volatilization or excessive turf growth. Nutrients are released directly into the root zone thus exhibiting higher efficiency. On this backdrop, sulphur coated urea market is expected to register a growth of ~3.5% during the forecast period.
Avail customized purchase options for your needs
Polymer Sulphur Coated Urea to be Lucrative Pocket in Sulphur Coated Urea Market
Polymer sulphur coated urea accounts for over 90% of the sales of global sulphur coated urea market. Polymer sulphur coating offers more protection than the conventional wax coating, resulting in a slower nutrient release and higher yield vis-à-vis wax coatings. Polymer sulphur coated urea is gaining momentous traction on the back of superior blending properties and cost effectiveness. Hence, it is a suitable alternative for nitrogen management and high grain yield crops such as rice, corn, etc.
Concerns regarding sustainability and cost minimization in agricultural sector has further increased demand for specialty fertilizers. Current market scenario reflects limited consumption of specialty fertilizers such as sulphur coated urea for agricultural applications, but is anticipated to emerge as a preferred choice of farmers and agricultural growers over the coming decade.
An Adaptive Approach to Modern-day Research Needs
Emerging Countries to Hold Notable Share by 2029
North America accounted for the highest share in the global sulphur coated urea market in 2019; however, APEJ (Asia Pacific excluding Japan) is likely to dominate the market by 2029 in terms of value owing to significant increase in applications such as agriculture, golf courses etc.
Emerging countries such as China, India and Brazil are expected to witness significant growth over the forecast period on the back of growing demand for fertilizers, and per capita spending on luxury amenities.
This is expected to escalate demand on the infrastructure for sport, recreational activities and other amenities such as golf, horticulture, community shades, gardens, etc. Despite losing significant market share by 2029, North America is expected to account for around 30% revenue share over the forecast period.
Competition Heating Up with Key Manufacturers Holding over One-third Share of Global Sales
The global market for sulphur coated urea is consolidated, with prominent players holding over one-third of the global sales. Agrium Inc., Israel Chemicals Ltd., Syngenta AG, Andersons Inc. and Yara International are some of the key stakeholders engaged in the manufacturing of sulphur coated urea.
To leverage the immense potential in the global sulphur coated urea market, several organic and inorganic strategies have been observed by prominent players. The key market strategy pursued by these players is expansion of their distribution network and regional presence as well as collaboration with local, raw material suppliers. For instance:
- In 2017, Haifa group established Haifa Colombia SAS, a new subsidiary in Colombia to serve the rapidly growing Colombian agriculture industry.
- Investments done by aforementioned companies will increase their market penetration and will meet the demand for sulphur coated urea over the forecast period.
Interested to Procure The Data
Key Segments Covered in the Sulphur Coated Urea Market Report: