The Sulfur Fertilizer Market in North America is projected to grow at a CAGR of 22.35% during theforecast period. In terms of volume, the market was 1,980.28 thousand MT in 2019, which is expected to grow at a CAGR of 1.93% during the forecast period. The market is likely to witness a significant growth, owing to the burgeoning demand for food. The growing demand for food security has created a demand for high-efficiency fertilizers such as sulfur fertilizer.
The market is highly competitive due to presence of other granular fertilizer and rising awareness about organic fertilizers. The pricing pressure is high from competitors that offer similar services with differentiated products. In addition, local vendors also operating on a global platform and exporting products across the globe, which is creating demand for sulfur fertilizers in the region.
Vendors are continuing to leverage their existing sales channels and local coverage to deliver products to their customers. Global vendors are also partnering with regional suppliers as a part of their product expansion strategy. Many vendors are operating in the local market including Nutrien Ltd, Yara International ASA, K+S Aktiengesellschaft, Israel Chemicals Ltd, Compass Minerals International Inc, Koch Fertilizer LLC, The Mosaic Co., Tiger-sul, and AdvanSix are giving tough competition in the region.
Sulfur Fertilizer Market in North America is segmented based on the Type, By Application, By Crop Type And By Country.
• Conventional Agriculture
• Controlled Environment Agriculture
• Sulfate Fertilizers
• Elemental Sulfur Fertilizers
• Sulfates of Micronutrients
By Crop Type
• Cereals & grains
• Oilseeds & pulses
• Fruits & vegetables
Sulfur Fertilizer Market in North America by Country
• Rest of NA
Increasing demand for high-efficiency fertilizers
World population is expected to grow by over 8.3 billion by 2030. With the growing population the demand for food production is increasing globally. As a result, there is a need for advanced agriculture facilities to maximize the yield. Owing to this, farmers are adopting sulfur-based fertilizers to improve their overall production.
In the region, prominent vendors such as Yara and K+S are focusing on technological developments to get more feedstocks for meeting the demand from growing population and to adopt more efficient, eco- friendly, and sustainable production methods for fertilizers. The growing food requirements are leading to increasing agricultural output, resulting in rising demand for sulfur fertilizers. Increasing soil efficiency to produce high-quality yield is propelling the demand for micronutrients in the global agriculture market. The demand for vegetables and fruits are expected to exhibit high growth rate during the forecast period. Furthermore, the production of vegetables and fruits, oilseeds, etc. are becoming more intensive, resulting in a mounting demand for high-efficiency fertilizers. Also, governments are providing subsidy on fertilizers and vendors are focusing on research and developments activities and new product launch, which are expected to drive the growth of the sulfur fertilizers market in North America during the forecast period.
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Sulfur Fertilizer Market in North America for the forecast period 2021 - 2024?
• What are the driving forces in the Sulfur Fertilizer Market in North America for the forecast period 2021 - 2024?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Sulfur Fertilizer Market in North America worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?
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