April 15, 2024

Agricultural Segment is the Largest Segment Driving the Growth of Sulfur Coated Urea Market

The global Sulfur Coated Urea Market is estimated to be valued at US$ 1,453 Mn or billion in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Sulfur coated urea contains urea at its core coated with a sulfur layer. This slows down the hydrolysis of urea to ammonium and carbon dioxide, thus releasing nitrogen gradually over an extended period. This helps in improving nitrogen use efficiency and reducing environmental pollution from volatilized ammonia.

Market key trends:
One of the key trends in the sulfur coated urea market is its increasing adoption in the agricultural sector. Sulfur coated urea reduces the number of fertilizer applications required and lowers production costs for farmers compared to conventional fertilizers. It releases nutrients steadily to match crop needs throughout the growing season. This enhances crop quality and yield while minimizing nitrogen loss through leaching or volatilization.

SWOT Analysis

Strength: Sulfur coated urea provides slow and controlled release of nutrients to plants over an extended period. This promotes vigorous plant growth and improves yield.

Weakness: High cost of sulfur coated urea compared to other fertilizers limits its adoption. Improper application can lead to nutrient imbalance in the soil.

Opportunity: Increasing mechanization and automation in agriculture is creating demand for controlled release fertilizers like sulfur coated urea. Rising global population is augmenting food demand and fertilizer consumption.

Threats: Stringent regulations regarding sulfur emissions during manufacturing may increase production costs. Volatile prices of raw materials like urea and sulfur pose risks.

Key Takeaways

The global sulfur coated urea market is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing focus on boosting farm productivity through efficient fertilization.

Regional analysis: North America dominates the market due to large-scale commercial farming in the US and Canada. Asia Pacific shows high growth on rising agrochemical usage to meet food demand of a huge population. Countries like China and India are fastest growing markets.

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. Players focus on new product launches tailored to specific soil and crop needs. They also expand dealer networks to enhance distribution in key regions.