Sulfur Fertilizers Market is Expected to Reach $4.1 Billion by 2026

According to a new report published by Allied Market Research, titled, "Sulfur Fertilizers Market by Type and Type of Agriculture: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global sulfur fertilizers market was valued at $3.5 billion in 2018 and is projected to reach $4.1 billion by 2026, growing at a CAGR of 2.2% from 2019 to 2026.

Sulfur fertilizers contain sulfur which plays an important role in boosting plant metabolism. Sulfur is important for the formation of plant proteins, amino acids, some vitamins and enzymes. The requirement for sulfur fertilizer is expanding at an impressive rate, due to growing population and demand for food. This in turn is boosting demand for producing higher efficiency crops. Hence, use of fertilizer such as sulfur fertilizer is increasing in agriculture. Use of sulfur in fungicides and bug sprays and increasing use of sulfur in nourishment is also expected to drive the growth of the market.

The global sulfur fertilizers market is segmented into type, type of agriculture, and region. Depending on type sulfur fertilizers market is classified into ammonium sulphate, single superphosphate, sulphate of potash, ammonium nitrate-sulphate, and sulphate containing compound fertilizers. The single superphosphate segment was the highest contributor to the market and is estimated grow with a CAGR of 1.6% during the forecast period. The ammonium nitrate-sulphate segment is estimated to grow with the highest CAGR of 5.4%.

Based on type of agriculture, the sulfur fertilizers market is classified into controlled environment agriculture, conventional agriculture, and others. The controlled environment agriculture segment was the highest contributor to the market and is estimated to grow with a CAGR of 2.2% during the forecast period. The conventional agriculture segment is estimated to be the fastest growing segment and is predicted to grow with a CAGR of 2.4%.

Region wise, the global sulfur fertilizers market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor and is expected to grow with a CAGR of 2.6%. Asia-Pacific and North America collectively accounted for around 76.1% share in 2018, with the former constituting around 60.2% share.

The key players operating in the sulfur fertilizers market include Royal Dutch Shell plc, Israel Chemical Limited, Yara International, Nutrien, Ltd., The Mosaic Company, Mitsui, Co., Ltd. among others. In order to stay competitive, these market players are adopting different strategies such as product launch, partnership, merger and acquisition. For instance, Yara signed collaboration agreement with Nel ASA related to green fertilizer project. This project is aimed to realize zero emission fertilizer production using innovative solutions and cost-efficient hydrogen production from electrolysis based on renewable energy.

Key Findings of the Study:

• In 2018, the Asia-Pacific market held a share of over 60.18% in the global sulfur fertilizers market.
• The U.S. and Mexico collectively accounted for around 88.5% share in the North America sulfur fertilizers market in 2018.
• The China and Japan collectively accounted for around 59.0% share in the Asia-Pacific sulfur fertilizers market in 2018.
• The single superphosphate and ammonium sulphate segments collectively accounted for around 72.0% of sulfur fertilizers market share in 2018.