Sulfur Fertilizer Market: Introduction
Transparency Market Research delivers key insights on the global sulfur fertilizer market. In terms of revenue, the global sulfur fertilizer market is estimated to expand at a CAGR of ~3% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global sulfur fertilizer market.
The global sulfur fertilizer market is broadly affected by several factors, including rise in usage of sulfur fertilizer in production of oilseed and pulses; and net import of sulfate fertilizers such as ammonium sulfate, sulfate of potash, and single superphosphate. Growth in population and increase in need for food products are also propelling the global sulfur fertilizer market.
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Sulfur Fertilizer Market: Dynamics
The global population is projected to increase from 7.7 billion in 2019 to 9.7 billion in 2050. The United Nations believes that countries such as India, Nigeria, the Democratic Republic of the Congo, Pakistan, Ethiopia, Tanzania, the U.S., Uganda, and Indonesia would be responsible for half of the global population growth up to 2050.
Increase in population is likely to boost the need for food. This, in turn, is expected to drive the production of food. Farmers need to enhance crop output by cultivating vast agricultural lands. They can also increase the productivity of their existing land with the use of fertilizers or new farming techniques (including precision farming). Furthermore, changes in diets of the people in emerging economies are estimated to positively impact the demand for fertilizers in the near future. Fertilizers help restore the nutritional value of depleted soils. Sulfur fertilizer helps in active growth of leaves, flowers, smaller pods, etc. Additionally, the usage of sulfur fertilizers in crops enables to increase the chlorophyll uptake ability of plants. These benefits of sulfur fertilizer are likely to boost its demand over the next few years.
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Sulfur Fertilizer Market: Prominent Regions
Asia Pacific dominated the global sulfur fertilizer market in 2019. Low cost of production and availability of low-cost labor are some of the factors that are likely to boost the production of sulfur fertilizer in Asia Pacific in the near future. Majority of sulfur fertilizer manufacturers are concentrated in China, India, and Australia. Companies operating in these countries are extensively engaged in expanding their existing production lines and distribution channels to better serve end users.
The sulfur fertilizer market in Latin America and North America is anticipated to expand at a significant pace during the forecast period. The sulfur fertilizer market in Brazil is much larger compared to that in Mexico, due to the growing economy of the former. Apart from Brazil, Argentina, and Mexico are the key consumers of fertilizers. These are the major agrarian countries in Latin America. The presence of a large number of domestic manufacturers in the U.S. and Canada is projected to propel the sulfur fertilizer market in North America during the forecast period.
Sulfur Fertilizer Market: Key Players
The global sulfur fertilizer market is fragmented with the presence of a large number of players. Key players operating in the global sulfur fertilizer market are Nutrien, Ltd, Yara International ASA, EuroChem Group, Koch Industries, Inc., Abu Dhabi Fertilizer Industries WLL, Kugler Company, Devco Australia Holdings Pty Ltd, Zuari Agro Chemicals Ltd, Tiger-Sul Products, LLC, and H Sulphur Corp.