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Sulfur Fertilizers Market Share to Touch USD 4.21 Billion at 2.10% CAGR by 2032

Dec 12, 2023 10:20 PM ET

Sulfur Fertilizers Market Share to Touch USD 4.21 Billion at 2.10% CAGR by 2032

Global Sulfur Fertilizers Market Analysis

The Sulfur Fertilizers Market, valued at USD 3.5 billion in 2022, is positioned for growth. Projections indicate an increase from USD 3.57 billion in 2023 to USD 4.21 billion by 2032, reflecting a compound annual growth rate (CAGR) of 2.10% during the forecast period (2023 – 2032). Key factors propelling market growth include the demand for crops susceptible to sulfur depletion and the increasing prevalence of sulfur deficiency in the soil. Notably, the rising level of new agricultural production and the concurrent decline in sulfur output emerge as significant drivers fostering the expansion of the market.


Burgeoning Need for Sulfates to Boost Market Growth

The increasing demand for sulfates will drive market growth due to the high use of traditional and new sulfate fertilizers, including ammonium sulfate, single superphosphate, ammonium phosphate sulfate, potassium sulfate, and sulfates containing micronutrients. The main advantage provided by sulfate fertilizers is the supply of sulfur in sulfate form, which plants can easily absorb.


Increasing Fertilizer Usage to offer Robust Opportunities

The growing world population is directly affecting food supply. Many nations are having trouble meeting food needs with constrained resources. Because of higher output from nutrient-deficient soils and finite sources, the fertilizer business has promising prospects. Additionally, fertilizers assist in maintaining soil nutrient concentrations and improve crop water retention productivity, decreasing plant water utilization. Consequently, the sulfur fertilizer sector is positioned to gain substantially from these benefits.

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Restraints and Challenges

Small Farm Imports to act as Market Restraint

The small farm imports, depressed commodity prices, rise in the creation of the natural food consumption, and strict environmental regulations may act as market restraints over the forecast period.

Market Segmentation

The global sulfur fertilizers market is bifurcated based on crop type, mode of application, form, and type.

By type, sulphate will lead the market over the forecast period.

By form, dry will domineer the market over the forecast period.

By mode of application, soil will spearhead the market over the forecast period.

By crop type, oilseeds and pulses will spur the market over the forecast period.

COVID-19 Analysis

The Sulfur Fertilizers Market worldwide continues to face challenges from the lockdowns, logistics disruptions, decreased production, and related economic impacts of COVID-19. The global fertilizer industry has been affected since the beginning, especially in China, which is the largest producer and consumer of agricultural micronutrients globally. The outbreak of a new coronavirus in China has so far had the most critical impact on the Chinese agricultural micronutrients sector, affecting the movement of both micronutrient products and raw materials into and out of the country. Additionally, this pandemic is also anticipated to affect the agricultural micronutrients industry in the United States, Brazil, India, and the EU-5 countries.

Regional Analysis

North America to Head Sulfur Fertilizers Market

The North American region will be the leader in the sulfur fertilizers market. Over 90% of the market value and volume for sulfur fertilizers in North America comes from the United States and Canada. Farmers have been able to maximize the benefits of fertilizers thanks to current scientific and technological advancements in agriculture. The large farming area and knowledge about sulfur usage are the primary reasons for the growth of this particular market in North America.

Key Players

Eminent market players profiled in the global sulfur fertilizers market report include The Mosaic Company (US), Deepak Fertilizers and Petrochemicals Ltd. (India), Yara International ASA (Norway), and Koch Industries, Inc. (US).

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