Sulphur Urea Coated Market | Coherent Market Insights

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SUPHUR COATED UREA MARKET ANALYSIS

• Suphur Coated Urea Market, By Product Type (Wax
  Sulphur Coated Urea, Polymer Sulphur Coated
  Urea), By Application (Agriculture, Golf Courses,
  Professional Lawn Care Turf, Others), and By
  Region (North America, Europe, Asia Pacific,
  Latin America, Middle East Africa) - Size,
  Share, Outlook, and Opportunity Analysis, 2020
  2027
• The global sulphur coated urea market is
  projected to surpass US 1200 million by the end
  of 2027, in terms of revenue, growing at CAGR of
  3.2 during the forecast period (2020 to 2027).

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Drivers

• The growing need for agriculture sustainability
  with minimized input cost and increasing crop
  yield is expected to augment the market growth of
  the sulfur coated urea. A growing population is
  creating demand for food which is also expected
  to accelerate the market growth of the sulfur
  coated urea. Moreover, increasing agriculture
  farmland around the globe has further boosted the
  market growth of the sulfur coated urea.
• Growing concern over eutrophication due to rising
  use of fertilizers which results in water
  pollution is projected to foster the market
  growth of the sulfur coated urea. Sulfur coated
  urea is effective in reducing the negative
  effects of the fertilizers on aquatic life.
  Therefore, growing concern over eutrophication is
  expected to augment the market growth of the
  sulfur coated urea over the forecast period.

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Figure 1. Global Sulphur Coated Urea Market,
Revenue Share (), By Region, 2019
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Market Restraints

• Growing environmental concern regarding the
  production of urea as it leads to air pollution
  is expected to restrict the market growth of the
  sulfur coated urea. The urea pollution can lead
  to the production of toxins called domoic acid by
  ocean plants and algae.
• The high cost associated with this fertilizer has
  limited its use on large scale agricultural
  production such as the production of commodity
  crops. This is projected to hinder the market
  growth of the sulfur coated urea over the
  forecast period.

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Market Opportunities

• Rapid urbanization coupled with the increasing
  disposable income of the consumer is projected to
  offer potential growth opportunities to the
  market of sulfur coated urea. The growing
  adoption of advanced and sustainable farming
  practices among farmers due to rising
  environmental concerns is further anticipated to
  augment the market growth of the sulfur coated
  urea over the forecast timeframe.
• Limited availability of arable land is creating
  demand for quality yield production on the farm
  which is fueling demand for sulfur coated urea.
  This is expected to present potential growth
  opportunities to the market over the forecast
  period. The scarcity of land for producing food
  will further create demand for specialized
  fertilizers such as SCU in order to meet the
  rising need for food due to a growing
  population. 

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Figure 2. Global Sulphur Coated Urea Market
Opportunity Analysis
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Market Trends

• An increasing number of distribution agreements
  among major players for expanding their presence
  in the market and to meet the growing need for
  controlled released fertilizers is expected to
  accelerate the market growth. For instance, in
  June 2019, Pursell Agri-Tech and Plant Products
  have entered into a supply and distribution
  agreement for the Eastern Canadian market. This
  objective of this agreement is to enhance its
  offering of high quality, controlled-release
  products for turf and nursery growers.

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Figure 3. Global Sulphur Coated Urea Market,
Revenue Share (), By Application, in 2019
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Global Sulphur Coated Urea Market Impact of
Coronavirus (Covid-19) Pandemic

• Companies across the globe are increasingly
  asking the employees for working from home, which
  has led to reduction of commute in the cities and
  non-essential travel have descended drastically
  during the pandemic situation. This scenario is
  expected to continue to reduce the demand of
  sulphur coated urea services across the globe.
  For instance, Hertz Global Holdings Inc. faced
  soaring cancellations and lack of new bookings.
  The company has been cutting off staff and reduce
  high capital spending to reserve liquidity.

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• Logistics are disrupted in various regions of the
  world which has impacted industries in different
  sectors such as agriculture, chemical,
  recreational and others. With the decrease in
  global demand, the prices of sulphur coated urea
  products have started to decline across the globe
  owing to sudden holds put on the buying of these
  products amidst the coronavirus (Covid-19)
  Pandemic. This scenarios is expected to hamper
  the growth rate of the market till the early
  quarter of 2021

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Competitive Section

• Key players are operating in the global sulphur
  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., Harrells
  LLC

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