The Sulfur fertilizers are an indispensable plant nutrient demanded by all crops for optimum introduction. Sulfur fertilizers supports in the development of chlorophyll that certificates photo synthesis through which plants introduce starch, sugars, oils, fats, vitamins, and several other compounds. Such fertilizers are convenient in the activation of enzymes, which assistance in biochemical reactions in the plant as well as supports in synthesis in oil.
According to the report analysis, ‘Global Sulfur Fertilizers Market to reach USD 5.4 billion by 2027’ states that the worldwide sulfur fertilizer market is fronting challenges owing to the coronavirus pandemic as temporary lockdown across various regions. But the government established plans and initiatives to safeguard that soil nutrients are available to farmers throughout the upcoming rabi (summer-sown) season, amongst the COVID-19 outbreak.
For instance, The Ministry of Chemicals and Fertilizers of India has established a team to formulate a road map in order to alterations and attain greater growth in the fertilizer sector. The augment in sulfur deficiency in soils, growth in the preference for high-quality crops, severe regulations on sulfur emission regulations augments the requirement for added sulfur and great consumption of traditional sulfate fertilizers are the few aspects accountable for growth of the market over the review period. Furthermore, establishment of innovative products and other strategic alliance by the market players will generate a lucrative requirement for the market. For instance, during March 2020, US based Mosaic Company has proclaimed an agreement with the Financial Technology Research Centre (FTRC) to aim on improvement of fertilizer efficiency across Australia. However, increasing trend of consuming organic fertilizers to decrease the requirement for sulfur fertilizers is the foremost factor limiting the growth of worldwide Sulfur Fertilizers market throughout the forecast period.
Major market players involves in this report are Nutrien Ltd., Yara International Asa, The Mosaic Company, ICL, K+S Aktiengesellschaft, Nufarm Limited, Coromandel International Ltd, Eurochem Group, Deepak Fertilizers and Petrochemicals Ltd., and Koch Industries, Inc.
Although, the Global Sulfur Fertilizers Market is worth approximately USD 4.5 billion during 2019 and is anticipated to increase with a healthy growth rate of more than 2.2% over the review period of 2020-2027.The regional analysis of worldwide Sulfur Fertilizers market is considered for the foremost regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Asia Pacific is the leading/noteworthy region around the world in terms of market share due to the augment in agricultural practices and necessities for high-quality agricultural harvest in this region. Whereas, the Asia-Pacific is also projected to exhibit greatest growth rate / CAGR over the forecast period of 2020-2027.
The mindfulness related to usage of numerous chemicals in agriculture is growing. Individuals are getting more observant towards the possessions of chemicals utilized in agriculture observes and their impression on health. The destructive effects of the chemicals included in the cultivation of crops and food products have made individuals to opt for organic food. Thus, the movements towards organic food are being witnessed. These aspects act as limitation for sulfur fertilizers market growth. However, the worldwide sulfur fertilizers market is yet to discover its full potential. The populace of the world is growing rapidly, leading to augment in requirement for food. The increasing requirement for food is further projected to raise the requirement for fertilizer, which in turn will augment the sulfur fertilizers market growth.
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