Sulphur Coated Urea Market To Surpass US$ 1200 Million By 2027


Posted July 16, 2020 by shrushti16

Sulfur coated urea is a controlled released fertilizer that is widely used to decrease the level of negative effects of fertilizers on crops. They are produced by coating hot urea by using chemicals such as sulfur and polymers.

 
The global sulphur coated urea market was estimated to be valued more than US$ 950 million in terms of revenue in 2019 and is predicted to grow at a CAGR of 3.2% during the forecast period (2020 to 2027).

Drivers

Strict rules and regulations set by the government for reducing the negative effect of fertilizers on the crop are projected to foster the market growth of sulfur coated urea. For example, in 2015, The Ohio House Agriculture and Rural Development Committee passed a law that prohibits the spreading of fertilizers and manure on frozen and saturated soil in the Western Lake Erie Basin. Such laws are expected to propel the market growth of sulfur coated urea.

Market Opportunities

Growing demand for controlled release fertilizers from gardening & ornamental plants and other crops and fruits is expected to foster the market growth of the sulfur coated urea. An increasing number of gardeners and cultivators are again propelling the market growth. Moreover, rising health consciousness consumers are creating demand for fruits and vegetables around the globe which is also projected to bolster the market growth of the sulfur coated urea during the foreseeable timeframe.

Market Restraints

The growing usage of technically advanced polymer-coated urea around the globe is projected to affect the demand for sulfur coated urea. This product is highly advanced in terms of controlling product longevity and ensure proper nutrients. Polymer-coated fertilizers offer a 100% controlled release of nutrients. Thus, the growing use of PCF's product is expected to hinder the market growth.

Key Takeaways

On the basis of category, polymer sulphur coated urea dominated the global sulphur coated urea market in 2019 with around 93% of market share in terms of revenue, followed by wax sulphur coated urea respectively.

Market Trends

The growing focus of the manufacturer to increase the production capacity of controlled released fertilizers in order to meet the rising demand is expected to augment the market growth of sulfur coated urea. For instance, in June 2018, Sylacauga, Alabama (USA), 6 June 2018 - Pursell Agri-Tech LLC and its industrial partner and shareholder Stamicarbon B.V., announce the opening of new fertilizer coating facility in Sylacauga. This objective of opening new facility is to produce next-generation controlled-release fertilizers for enhancing nutrient-use efficiency and increase agricultural output and productivity while reducing the impact of traditional fertilizers on the environment.

Increasing focus on developing innovative technology by the manufacturer is a major trend in the market and this trend is expected to foster the market growth of sulfur coated urea. For instance, in March 2018, Bio-on researchers have announced a revolutionary new technology for the controlled release of urea fertilizers into the soil. The new technology is developed from the company's 100% natural and biodegradable PHAs bioplastic, the advantages are a more effective dose and lower fertilizer consumption.

Global Sulphur Coated Urea Market - Impact of Coronavirus (Covid-19) Pandemic

Lockdowns implemented by governments across the globe in order to stop the spread of Covid-19 have severely impacted the global supply chain, which in turn has hindered the global demand of sulphur coated urea during first quarters of 2020. The global sulphur coated urea market is expected to grow at a much lower CAGR for a short term period till 2021 and is expected to stabilize gradually during 2021-2022.

Competitive Section

Key players are operating in the global sulphur coated urea market are Agrium Inc., Israel Chemicals Ltd., Syngenta AG., Yara International ASA, Andersons Inc., Haifa Chemicals Ltd, J. R. Simplot Company, Koch Industries Inc., Harrell’s LLC
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Issued By COHERENT MARKET INSIGHTS
Country United States
Categories Agriculture
Tags sulphur coated urea market
Last Updated July 16, 2020