Global Sulfur Coated Urea Market was valued at US$ 1063.7 Mn in 2022, exhibiting a CAGR of 4.8% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 1551.2 Mn by 2030. Sulfur coated urea is primarily used in the agriculture industry for reducing the negative effects of fertilizers such as crop burn. They are a controlled release of fertilizers that are manufactured by coatings of hot urea using molten sulfur polyurethane oil. These are specialized fertilizers that are coated by using polymers or waxes to release nutrients slowly. They are widely used across professional lawn care, and turf, greenhouses, horticulture, golf courses, and nurseries
Driver
Strict rules and regulations set by the government for reducing the negative effect of fertilizers on the crop
Strict rules and regulations set by the government for reducing the negative effect of fertilizers on the crop are projected to foster the market growth of sulfur coated urea. For example, in 2015, The Ohio House Agriculture and Rural Development Committee passed a law that prohibits the spreading of fertilizers and manure on frozen and saturated soil in the Western Lake Erie Basin. Such laws are expected to propel the market growth of sulfur coated urea.
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Market Opportunities
Growing demand for controlled release fertilizers
Growing demand for controlled release fertilizers from gardening & ornamental plants and other crops and fruits is expected to foster the market growth of the sulfur coated urea. An increasing number of gardeners and cultivators are again propelling the market growth. Moreover, rising health consciousness consumers are creating demand for fruits and vegetables around the globe which is also projected to bolster the market growth of the sulfur coated urea during the foreseeable timeframe..
Market Restraints
The high cost associated with this fertilizer
The high cost associated with this fertilizer has limited its use in large-scale agricultural production such as the production of commodity crops. This is projected to hinder the market growth of the sulfur coated urea over the forecast period.
Key Takeaways:
- The Asia Pacific region holds a dominant market share in the Sulfur Coated Urea Market due to the high demand generated by the agriculture sector. On the basis of category, polymer sulfur coated urea dominated the global sulfur coated urea market in 2019 with around 93% of market share in terms of revenue, followed by wax sulfur coated urea respectively.
- The demand for sulfur coated urea is increasing due to its strict rules and regulations set by the government for reducing the negative effect of fertilizers on the crop, and it is expected to grow Sulfur Coated Urea Market in the coming years.
Market Trends
- An increasing number of distribution agreements among major players
An increasing number of distribution agreements among major players for expanding their presence in the market and to meet the growing need for controlled released fertilizers is expected to accelerate the market growth.
The growing use of sodium propionate in the pharmaceutical industry is expected to augment the market growth of sodium propionate. The growth of the market is also attributed to the increasing production of pharmaceutical products and growing investment in the industry. According to the Global Use of Medicines report from the IQVIA Institute for Human Data Science. The global market for pharmaceuticals reached $1.2 trillion in 2018, up to $100 billion from 2017.
Increasing advancement in sodium propionate-based medical practices for treating patients suffering from cornea infections, conjunctiva, and lids. Furthermore, the rising use of sodium propionate in the agrochemical industry is further expected to accelerate the market growth of sodium propionate over the forecast period.
