The rising urbanization across the world, the growing demand for food and food products, and the growing population are expected to drive the growth of the Sulphur-coated urea market
The surging sales perspectives are attributed to the diverse usage of Sulphur in industries like agriculture, golf courses, professional lawn care, turf, and greenhouses bolstering the growth in the market. The global Sulphur coated urea market is expected to exhibit a stable CAGR of 3.3% with an estimation valued at US$ 1,050.20 Million in 2022 surpassing a valuation of US$ 1,453.0 Million by 2032.
According to Future Market Insights analysis, the Sulphur coated urea market registered a historic CAGR of 3.4% from 2015 to 2021. According to the studies, growth in the market witnessed a slight decline, registering a 3.3% CAGR for the period between 2022 and 2032.
The increased availability of several other coated particles which resulted in stagnant market growth across the forecast period from 2022 to 2032 is expected to propel the demand for Sulphur coated urea market. In addition to that, the market is expected to excel amid a surging number of golf courses globally and increased spending on luxury amenities such as household lawns.
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Key Takeaways
Competitive Landscape
Dominant players in the market are focused on heavy investments and innovations for the development of products with improved applications and the introduction of sustainable products in order to minimize carbon footprints. On the other hand, some of the other players are concentrating on capacity expansions in emerging economies to capitalize on expanding their agriculture sector.
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Key Companies Profiled
Sulphur Coated Urea Market Segmentation
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More Insights into the Sulphur Coated Urea Market
According to FMI estimations, the U.S. is expected to remain one of the leading consumers of Sulphur coated urea attributed to the rising applications in diverse industries including the residential sector and the agriculture sector among others. The country is predicted to account for about 20%-25% of the global value share in the Sulphur coated urea market.
Emerging economies like China, Japan, and Australia are expected to be the fastest growing Sulphur coated urea market all over the Asia Pacific region owing to the rising preference for luxury amenities such as golf courses, community shades, horticulture, gardens, etc., which is creating a conducive environment for key players in the region.
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Sulphur Bentonite Market: Demand in the sulphur bentonite market is projected to grow at a CAGR of 5.0% between 2022 and 2029. Future Market Insights (FMI) forecasts the market value to top US$ 197.3 Mn in 2022.
Elemental Sulfur Market: In the forthcoming years, China, India, Japan, the U.S., and Germany are expected to emerge as key producers and exporters in the elemental sulphur market, opines FMI.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Mar 22, 2023