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 sulfur fertilizers market.
Key Players in Sulfur Fertilizers Market
- 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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Market USP
Rising demand for elemental sulfur enriched NPK fertilizers
Growth Opportunities in Sulfur Fertilizers 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 market 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.
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