The Sulfur Fertilizers Market is estimated to be valued at USD 4.6 billion in 2020 and is projected to reach a value of USD 5.1 billion by 2025, recording a CAGR of 2.2% during the forecast period.
The increase in sulfur deficiency in the soil is a major factor that is projected to drive the growth of the sulfur fertilizers market. The causes of sulfur deficiency in the soil include reduced deposition of atmospheric sulfur due to stringent regulations imposed on the emission of sulfur dioxide from industries. In addition, intensive agricultural practices, the use of improved crop varieties, and the rise in area under irrigation are factors that are projected to drive the demand for sulfur fertilizers.
By crop type, the oilseeds & pulses segment is projected to be the fastest-growing in the sulfur fertilizers market during the forecast period.
A majority of the global oilseed production occurs in semi-arid tropical areas where the average yield is low. The oilseeds are drought-tolerant with low transpiration. Hence, crops in these regions suffer from sulfur deficiency due to insufficient supply. Soybean, canola, and groundnut are the major crops considered under this segment that utilize sulfur fertilizers. Sulfur is used as a plant nutrient for the synthesis of oil and the production of proteins. The sulfur requirement in oilseeds is comparatively higher than the other crops. Hence, it is projected to dominate the market during the forecast period.
By type, the sulfates segment is projected to dominate the global market during the forecast period.
In 2025, the sulfates segment is projected to dominate the global market in terms of value. This is due to the high consumption of traditional and new sulfate fertilizers, such as ammonium sulfate, single superphosphate, ammonium phosphate sulfate, potassium sulfate, and sulfates of micronutrients, across regions. In addition, the main advantage offered by sulfate fertilizers is its sulfur supply in the form of sulfate, which is readily available to plants.
By form, the dry segment is projected to be the fastest-growing in the sulfur fertilizers market during the forecast period.
The dry segment is projected to dominate the market due to its extended shelf life and relatively low cost. In addition, the consumption of the dry form of sulfur fertilizers, such as ammonium sulfate, single superphosphate, ammonium phosphate sulfate, and elemental sulfur, is high across the globe. These factors are projected to drive the growth of the market.
RoW is projected to grow at the highest CAGR during the forecast period.
The Rest of the World is segmented into South Africa, Turkey, and others in RoW, which includes Egypt, Morocco, Saudi Arabia, Iran, Israel, and Kenya. The agricultural activities in the African and Middle Eastern countries are carried out majorly, along the river banks and streams. Most farmers in these countries are small-scale and produce grains and other products for their own consumption and sale. However, farmers in a few Middle Eastern countries are gradually becoming aware of the benefits of sulfur fertilizers with the help of non-profit and non-governmental organizations.
Key players in the sulfur fertilizers market include Nutrien, Ltd. (Canada), Yara International ASA (Norway), The Mosaic Company (US), K+S Aktiengesellschaft (Germany), and ICL (Israel).