by The sulfur coated urea Market is estimated to be valued at US$ 1114.76 Mn or in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sulfur coated urea is a controlled release fertilizer where urea granules are coated with sulfur. This slows down the release of nitrogen and makes it available to plants throughout the growing season. Sulfur coated urea offers advantages like higher nitrogen use efficiency, reducing environmental pollution and leaching. It is mainly used in farming practices for crops like wheat, rice, corn and many others. With the rising focus on sustainable agriculture to improve yield and reduce wastage, the demand for sulfur coated urea is increasing globally.
Market Dynamics:
The sulfur coated urea market is primarily driven by the need for efficient nitrogen fertilization practices. Sulfur coated urea delivers nitrogen to plants in a controlled manner throughout the growing season. This ensures maximum nutrient uptake and higher crop yield. Furthermore, traditional urea fertilizers face issues like volatilization and leaching which wastes nutrients. Sulfur coated urea helps overcome these challenges through its slow release mechanism. Also, growing awareness about minimizing environmental impact and improving efficiency of fertilizer applications is propelling the industry forward. Stringent regulations pertaining to nitrogen run-off from farms into water bodies have accelerated the replacement of conventional urea with coated variants.
Segment Analysis
The sulfur coated urea market is dominated by the controlled release segment. Controlled release sulfur coated urea slowly releases nutrients into the soil over an extended period, providing plants with a continuous and consistent supply of nitrogen. This prevents nitrogen loss through leaching and reduces the number of applications required.
PEST Analysis
Political: The government emphasizes on sustainable agricultural practices and promotes the use of controlled release fertilizers like sulfur coated urea to reduce environmental pollution.
Economic: The rising global demand for food along with growing population is driving the need to increase agricultural productivity. This is increasing demand for specialty fertilizers like sulfur coated urea.
Social: Consumers are increasingly preferring organic foods. Farmers are looking at fertilizers that can enhance soil health and minimize environmental impact. This is driving adoption of sulfur coated urea.
Technological: Advancements in coating technology have improved coating efficiency and nutrient releasing patterns of sulfur coated urea. New formulations ensure precise and consistent nutrient supply to plants.
Key Takeaways
The global Sulfur Coated Urea Market Share is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing focus on sustainable agriculture and demand for specialty fertilizers.
Regionally, North America dominates the market due to the large area of farmland and supportive government policies regarding controlled release fertilizers in the region. Asia Pacific is expected to be the fastest growing market due to rising agriculture production in China and India.
Key players operating in the sulfur 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. Yara International, ICL and Agrium capture over half of the global market share due to their extensive global distribution network and wide product portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
