Sulphur coated urea market is growing at a CAGR of around 3.5% through 2029, propelled by sustainability concerns and cost minimization in the agricultural sector. A stringent regulatory framework on the utilization of primitive and conventional fertilizers is also supporting the growth of the sulphur coated urea market.
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Soaring popularity of golf as a leisure pursuit and increased spending on luxury amenities such as household lawns has also catalyzed the heightened demand for sulphur coated urea. Developed countries such as U.S., Canada, Australia, and even Western European countries have witnessed a tremendous spurt in development of sports and recreational infrastructure which is expected to give significant traction to sulphur coated urea market. On this premise, global sales of sulphur coated urea is estimated to surpass a value of ~US$ 1.3 Bn by 2029.
Key Takeaways of Sulphur Coated Urea Market Study
- Polymer sulphur coated urea will hold over 90% of the global sulphur coated urea market and is poised to create an absolute $ opportunity of around US$ 220 Mn
- Favorable regulatory policies on the use of fertilizers will unfold new opportunities for sulphur coated urea market and is poised to increase sales by 1.2X through 2029
- Concerns over eutrophication is translating into increased demand for sulphur coated urea which will create an absolute $ opportunity of US$ 230 Mn over the forecast period
- Golf courses and professional lawn and turf care is expected to witness a steady growth of around 3.5% and is poised to create collective absolute $ opportunity of around US$ 115 Mn by 2029
- As compared to developed regions, the sales of sulphur coated urea are envisaged to be higher in the developing countries such as India and China. Moreover, APEJ is likely to witness high growth of around 5% over the forecast period.
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“With downstream applications spreading towards golf courses and professional turfs & lawns, global sulphur coated urea market is witnessing ardent traction, despite its high cost and availability of substitutes.” says the FMR analyst.
Key Players to Hold One-third of Global Revenue in Sulphur Coated Urea Market
Sulphur coated urea market is highly consolidated with prominent players accounting for around one-third of the global sales. Prominent players such as Agrium Inc., Israel Chemicals Ltd., Syngenta AG, Andersons Inc. and Yara International are engaged in intensive R&D to develop innovative sulphur coated urea solutions and expansion of their manufacturing facilities to cater to the growing demand of sulphur coated urea globally.
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