Low Sulfur Prices Create Business Opportunities for Companies During COVID-19

Sulfur, being one of the main raw materials in fertilizers, is anticipated to face uncertainties due to the ongoing COVID-19 pandemic. As such, prices have dropped for sulfur, which is an opportunity for stakeholders in the sulfur fertilizer market to strategize on financial allocations and production activities. Agriculture, an essential industry during the coronavirus, has seen less uncertainty in business activities.

The tight availability for sour crude oil is influencing the growth of the global sulfur fertilizer market. This has led to the curtailment of oil-based sulfur supply. Depressed oil-based sulfur supply and new ship emission regulations in North America and Europe are affecting production processes. Hence, most industries are adopting the plug & play approach to achieve cost and time efficiency.

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Micronized Elemental S Shows Potential to Revolutionize Fertilizer Production

Immediate availability and water solubility of sulfur are beneficial in fertilizer production. However, sulfur is associated with leaching and loss of sulfur after one rainfall. Hence, companies in the sulfur fertilizer market, such as Shell Thiogro, are adopting technologies that incorporate micronized elemental S into fertilizers to overcome its drawbacks.

Achieving food security has become important for manufacturers in the sulfur fertilizer market. Companies need to comply with the guidelines issued by the International Fertilizer Association (IFA) and the Food and Agricultural Organization of the United Nations (FAO) in order to adopt the best agricultural practices. As such, sulfur is linked with healthy crop growth, which leads to increased yield and productivity of farmers.

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Sulfur Deficiency to Meet with Strategic Cultivation Activities During Spring Season

Sulfur is being extensively used for plant protection in agriculture. Companies in the sulfur fertilizer market, such as Repsol, is boosting its marketing capabilities for PRILL SULFUR, which is being used as a raw material for manufacturing fertilizers. Manufacturers are increasing their production capabilities, since sulfur fertilizers are being used in alkaline soils to correct pH levels and improve the absorption of nutrients.

Sulfur deficiency has become a widespread problem, compounded by fewer sulfur oxide emissions in the soil. Hence, stakeholders in the sulfur fertilizer market are educating farmers and cultivators to use this manure during fall or spring to boost yield of corn, canola, wheat, and alfalfa. This flexibility is being preferred by farmers, when weather extremes create costly delays during spring fieldwork and planting.

Agronomists Suggest Sulfur Fertilizers for Soybean Cultivation

Apart from corn and wheat, strong sulfur responses are being encountered in soybean. New agriculture findings are bolstering the growth of the sulfur fertilizer market, which is predicted to cross US$ 5.6 Bn by the end of 2030. Manufacturers are setting their collaboration wheels in motion with researchers from universities such as Shaun Casteel, a Purdue University Extension soybean agronomist, which credits increased soybean yield due to sulfur fertilizers.

Situational sulfur deficiency is a recurring issue in the global sulfur fertilizer market. This explains why the market is estimated to clock a sluggish CAGR of ~3% during the assessment period. Hence, agronomists are creating awareness about the form and application of sulfur fertilizers to overcome issues of situational sulfur deficiencies.

Ammonium Sulfate-containing Materials Aid in Top Dressing Applications

Different forms and applications of sulfur fertilizers such as mixing of liquid S formulations with other compounds is catching the attention of farmers and manufacturers alike. The spring topdress is emerging as an ideal time for use in sulfur application. Significant decrease in atmospheric sulfur from rains has fueled the demand for sulfur fertilizers, as after nitrogen, phosphorous, and potassium, sulfur is important for crop growth of wheat. S-containing fertilizer materials, such as ammonium sulfate and gypsum are great for top dressing and pre-plant applications. New N-P-S products such as micro-essentials and others are helping to correct sulfur deficiency.

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Analysts’ Viewpoint

The increasing international attention toward new farm laws in India is estimated to boost investments in fertilizer production and crop management in the upcoming months post the coronavirus pandemic. Reduced organic matter in soil and S-deficient hilltops are creating cultivation hurdles for farmers, thus affecting the growth of the sulfur fertilizer market. Hence, manufacturers should educate farmers about strategic use of sulfur in wheat, soybean, and corn in various forms and applications to spike yield. As such, sulfur is linked with the improvement in oil percentage in oil seeds, protein content in seeds, and milling quality of cereals. Increase in nutritive value of forages and plant resistance to cold and disease are boosting the demand for sulfur fertilizer.

Sulfur Fertilizer Market: Overview

  • Sulfur is recognized as the fourth macronutrient in the global fertilizer market. It is a vital nutrient used for plant growth. Sulfur-deficient plants have very less spindly stems. Additionally, crops with sulfur deficiency are more susceptible to yellowing of leaves.
  • Prominent benefits of sulfur fertilizers include increase in nitrogen utilization, excellent phosphate and micronutrient uptake, and enhanced chlorophyll, protein, oil, and vitamin production. Furthermore, sulfur aids in forming proteins and development of enzymes and vitamins. Sulfur fertilizer also promotes formation of nodules and seeds, which can survive in cool and moist soil conditions.
  • According to Transparency Market Research’s latest research report on the global sulfur fertilizer market for the historical year 2019 and the forecast period 2020 to 2030, rise in usage of sulfur fertilizer in the oilseed & pulses application segment is a key factor that is expected to boost the global sulfur fertilizer market during the forecast period
  • In terms of revenue, the global sulfur fertilizer market is estimated to cross US$ 5.6 Bn by 2030, expanding at a CAGR of ~3% during the forecast period

Rise in Demand for Sulfur Fertilizer in Oilseed and Pulses: Major Driver

  • Currently, sulfur fertilizer is primarily used in oilseed and pulses. Oilseeds, such as rapeseed, consume high amount of sulfur fertilizer. Globally, rapeseed is mainly grown on more than 31 million hectares of land. Rapeseed contains high concentration of sulfur in its tissues and seeds. Hence, there is particularly higher need for sulfur than that of yield potential. Therefore, sulfur management plays a crucial role in the production of rapeseed. Sulfur deficiency is increasing in Asia Pacific, due to the decline in aerial deposition of sulfur. This is projected to drive the demand for sulfur fertilizer in oilseed & pulses application in the near future.
  • In terms of volume, the oilseed & pulses application segment is estimated to dominate the sulfur fertilizer market during the forecast period. Usage of sulfur fertilizer in oilseed and pulses helps decrease sulfur deficiency. Sulfur deficiency due to low transpiration in oilseeds and pulses is expected to increase the consumption of sulfur fertilizer in this application.

Increase in Applications of Sulfate

  • Based on type, the sulfate segment dominated the global sulfur fertilizer market in 2019. Sulfate is a highly consumed sulfur fertilizer across the globe. It is directly available to plants; however, sulfate is highly receptive to losses through leaching. This form of sulfur is taken by roots. Sulfate fertilizers are often produced in combination with other nutrients such as nitrogen and potassium.
  • Elemental sulfur is also anticipated to be a major segment of the global sulfur fertilizer market during the forecast period. Elemental sulfur is unavailable to plants, unlike sulfate fertilizer. Crops do not have the ability to uptake elemental sulfur, unless elemental sulfur is converted into sulfate. Hence, elemental sulfur is first converted into sulfate by bacteria of the thiobacillus family. The conversion rate depends on the warm, moist soils that have large bacterial population. Commonly, conversion from elemental sulfur to sulfate takes place until the soil temperature is 60 °F. In order to attain higher conversion rates, elemental sulfur is commonly added into the soil. However, the response of crop to elemental sulfur can be delayed and irregular if optimal conditions of soil are not met. Demand for elemental sulfur is primarily concentrated in developed regions. Key manufacturers in Europe and North America are enhancing their existing product line by blending elemental sulfur with other fertilizers in order to improve the yield of the resulting blended fertilizers.
  • Liquid sulfur is another type of sulfur fertilizer that helps minimize the leaching potential of the soil. This type of sulfur fertilizer is used as a liquid plant nutrient through the use of spray rigs or irrigation systems. It can also be blended with nitrogen-based phosphorus potassium liquids or suspensions.

Sulfur Fertilizer Market: Competition Landscape

  • Detailed profiles of providers of sulfur fertilizer have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global sulfur fertilizer market are
    • Nutrien, Ltd
    • Yara International ASA
    • EuroChem Group
    • Koch Industries, Inc.
    • Abu Dhabi Fertilizer Industries WLL
    • Kugler Company
    • Devco Australia Holdings Pty Ltd
    • Zuari Agro Chemicals Ltd
    • Tiger-Sul Products, LLC

Sulfur Fertilizer Market: Key Developments

  • Key manufacturers of sulfur fertilizer, such as Nutrien, Ltd, Yara International ASA, and EuroChem Group, primarily focus on capacity expansion and product innovation of sulfur fertilizer. Some of the major developments in the global sulfur fertilizer market are enlisted below:
    • On October 10, 2019, K+S Aktiengesellschaft announced that it had increased the production capacity of its magnesium sulfate with commissioning of a new facility at the Wintershall site at the Werra plant, based in Heringen, Germany
    • On December 5, 2018, EuroChem Group announced that it had started production of Urea Ammonium Sulfate (UAS) at its Novomoskovskiy Azot production unit based in Russia. In the same year, the company signed a take-or-pay agreement for expected output of sulfate of potash (SOP) from the Colluli Potash Project in Eritrea, East Africa.
  • In the global sulfur fertilizer report, we have discussed individual strategies, followed by company profiles of providers of sulfur fertilizer. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global sulfur fertilizer market.

Sulfur Fertilizer Market – Scope of the Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global sulfur fertilizer market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global sulfur fertilizer market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global sulfur fertilizer market would expand during the forecast period of 2020 to 2030.

The report offers intricate dynamics about different aspects of the global sulfur fertilizer market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global sulfur fertilizer market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global sulfur fertilizer market and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (tons and kilo tons).

This study covers a detailed segmentation of the global sulfur fertilizer market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global sulfur fertilizer market, wherein various developments, expansions, and winning strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Sulfur Fertilizer Market

The report provides detailed information about the global sulfur fertilizer market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global sulfur fertilizer market, so as to help them design successful strategies and make target-driven decisions.

  • Which application segment of the global sulfur fertilizer market would emerge as a major revenue generator during the forecast period?
  • How are key market players successfully earning revenue out of advantages of sulfur fertilizer?
  • What would be the Y-o-Y growth trend of the global sulfur fertilizer market between 2020 and 2030?
  • What are the winning imperatives of leading players operating in the global sulfur fertilizer market?
  • Which type segment is expected to create lucrative opportunities for the global sulfur fertilizer market during the forecast period?
  • Which are leading companies operating in the global sulfur fertilizer market?

Research Methodology – Sulfur Fertilizer Market

The research methodology adopted by analysts for compiling the global sulfur fertilizer market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global sulfur fertilizer market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global sulfur fertilizer market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global sulfur fertilizer market.

Sulfur Fertilizer Market – Segmentation

TMR’s research study assesses the global sulfur fertilizer market in terms of type, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects for the global sulfur fertilizer market.

Type

  • Sulfate
  • Elemental Sulfur
  • Liquid Sulfur
  • Others (including Elemental S Fortified N/P Fertilizers)
Application
  • Cereals & Grains
  • Fruits & Vegetables
  • Oilseeds & Pulses
  • Others (including Ornamental Crops)
Region
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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