Artificial Intelligence is fastest growing segment fueling the growth of Sulfur Coated Urea Market

 


The global Sulfur Coated Urea Market is estimated to be valued at US$ 1,453 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Sulfur coated urea fertilizers have sulfur and urea coated together, providing nitrogen to plants over an extended period. This prevents loss of nitrogen through leaching and ensures consistent release of nutrients required for healthy growth of crops.

Market key trends:
Increased adoption of precision farming is one of the major trends witnessed in the sulfur coated urea market. Precision farming is an advanced agricultural management concept which utilizes technologies like GPS, GIS, IoT and robotics to improve crop productivity. It enables precise application of fertilizers according to the needs of individual plants thus preventing over usage. This environment friendly practice is gaining popularity among farmers worldwide.
Segment Analysis

Sulfur Coated Urea Market is segmented by form into granules and powder. The granules segment dominates the market and accounts for around 60% share of the overall market. Granules offer better agronomic and economic benefits over powder such as slow and consistent release of nutrients, reduced labor cost, and suitability for all soil types. This makes granules the preferred choice for farmers.

Key Takeaways

The global Sulfur Coated Urea Market is expected to witness high growth, exhibiting a CAGR of 3.3% over the forecast period, due to increasing food production to meet the rising global population. Growth in agricultural production and awareness regarding advantages of controlled-release fertilizers are some of the major factors propelling the market.

Regional analysis - Asia Pacific dominates the global market with over 35% share owing to the large agricultural operations in countries such as China and India. The region is expected to continue its dominance fueled by the rising population necessitating increased food production. North America is projected to grow at a steady pace due to the adoption of advanced soil enriching products.

Key players - Key players operating in the Sulfur Coated Urea Market are Agrium Inc., Israel Chemicals Ltd., Syngenta AG., Yara International ASA, Andersons Inc., Haifa Chemicals Ltd, J. R. Simplot Company, Koch Industries Inc., Harrell’s LLC. These players are focusing on expanding their production capacities and geographical presence to leverage growth opportunities.

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