NEW YORK, May 12, 2021 /PRNewswire/ -- Fact.MR's latest report on global sulfur fertilizer projects a steady growth over the forecast period of 2021 and 2031. Rising demand for sulfur fertilizer in various applications such as cereals & grains, fruits & vegetables, and advancements in agriculture industry is fuelling the sales. Furthermore, due to the growing need of sulfur fertilizer in agriculture industry, government funding & investment has increased over the past years. Increasing investment in research & development (R&D) activities by key players will also aid the industry growth.
With the manufacturing sector developing constantly and incorporation of advanced technology in agriculture industry, key players are expected to gain higher profit margins over the forecast period. Increasing application of sulfur fertilizer for soil fertilization of various fruits, crops & vegetables in agriculture sector will provide growth opportunities for the leading industry players. Also, few disadvantages such as high laboratory set-up cost, and environmental side-effects due to the excess of sulfur may hamper the demand. However, growing R&D activities by manufacturers will overcome the hurdles over the coming years.
"Manufacturers are adoption novel technologies to launch new products. Besides this their expansion strategies including collaborations will aid overall growth of the market" says a Fact.MR analyst.
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Sulfur fertilizer market is expected to have a positive growth outlook in the countries such as Japan, Croatia and United Kingdom
Coromandel International Limited, Nutrien Ltd., Yara International ASA, Nufarm Ltd., K+S Aktiengesellschaft, EuroChem Group, Koch Industries Inc., Deepak Fertilizers and Petrochemicals Ltd, Abu Dhabi Fertilizer Industries WLL, Kugler Company, Devco Australia Holdings Pvt. Ltd., Zuari Agro Chemicals Ltd., Tiger-Sul Products LLC, and H Sulfur Corp among others. The market is fragmented and key players in order to maintain their position a focusing on new product launches.
For instance, in July 2020, Nutrien Ltd. announced the launch of Smart Nutrition MAP+MST fertilizer that combines micronized sulfur with phosphate to give crops consistent nutrition all season long.
In March 2021, Mosaic Company announced the labeling of its two fertilizer product, MicroEssentials and Sus-Terra fertilizer, as Enhanced Efficiency Fertilizers (EEF) by the Association of American Plant Food Control Officials.
Also, in February 2020, ICL announced it was acquiring Growers Holdings Inc., an innovator in the field of data-driven farming that provides information on fertilization and its in-field applications.
Furthermore, in October 2019, K+S Aktiengesellschaft announced the set-up of a new plant at the Wintershall site of the Werra plant in Germany for the manufacturing and production of magnesium sulfate anhydrous.
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More Valuable Insights on Sulfur Fertilizer Market
In its latest report, Fact.MR offers an insightful study on the global sulfur fertilizer market for the forecast period of 2021 and 2031. The study offers insights on the market's trends, opportunities and the challenges that will aid the growth in the coming years. For better understanding, the market is segmented on the basis of type (sulfate, elemental sulfur, liquid sulfur, and others), application (cereals & grains, fruits & vegetables, oilseeds & pulses, and others), and region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
Key Questions Covered in the Report
Which is the most lucrative market for sulfur fertilizer?
Which are the major companies leading the global sulfur fertilizer market?
What are the key challenges faced by sulfur fertilizer suppliers?
Which factors will drive the sales of sulfur fertilizer market?
Which type of sulfur fertilizer is the most preferred?
What is the impact of Covid-19 on sulfur fertilizer market?
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