Sulfur Coated Urea (SCU) Market is Expected to Clock a Notable A CAGR of 5.6% and Reach USD 4.12 Billion by 2032
Market Overview: The global Sulfur Coated Urea (SCU) market had a valuation of USD 2.52 billion in 2022 and is projected to reach USD 4.12 billion by 2032, demonstrating a robust compound annual growth rate (CAGR) of 5.6% throughout the forecast period. Key drivers of this growth include increased demand for high-efficiency fertilizers, the imperative for sustainable agricultural practices, and the growing need for Controlled-Release Fertilizers designed to boost crop yields.
Recent decades have witnessed significant transformations in
the agriculture sector, marked by a shift towards sustainable farming
techniques aimed at reducing environmental impact and enhancing efficiency.
SCU, a favored controlled-release fertilizer, addresses these goals by reducing
nitrogen loss, promoting plant growth and productivity, and diminishing the
frequency of fertilizer applications. Consequently, the demand for SCU is on
the rise, particularly in North America and Europe, where sustainable
agricultural practices have gained popularity.
Additionally, the pursuit of enhanced agricultural
productivity and efficient nutrient management is another catalyst propelling
market growth. SCU, as a slow-release fertilizer, offers consistent nutrient
supply to plants, thereby reducing the frequency of fertilizer application and
minimizing nutrient wastage.
The escalating demand for controlled-release fertilizers,
attributed to SCU's unique formulation, is also set to boost market revenue.
Farmers and gardeners favor SCU due to its ability to gradually release
nutrients to plants, stimulating plant growth and yield while diminishing the
need for frequent fertilization.
Furthermore, the market's revenue growth is spurred by the
growing focus on environmental sustainability and governmental regulations on
fertilizer use. Conventional fertilizers can lead to nitrogen leaching, soil
acidity, and environmental degradation, while SCU provides an environmentally
friendly alternative that mitigates nitrogen loss and enhances nutrient
management.
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However, the high production costs and the presence of more
affordable alternatives are major factors that may hinder revenue growth. The
production process for SCU involves specialized machinery and technology,
driving up production costs and ultimately the price of SCU. This, in turn,
limits affordability for small-scale farmers and gardeners. Additionally, conventional
urea fertilizers and other controlled-release fertilizers that are less
expensive pose competition to SCU in the market.
Government Regulations: Various regulatory bodies and
organizations have implemented regulations and guidelines to ensure the safe
and responsible use of SCU fertilizers in agricultural practices. Some of them
include:
- The
European Union, which requires SCU fertilizers to meet minimum safety and
environmental standards.
- The
United States Environmental Protection Agency, which has established
minimum standards for SCU fertilizer use in agriculture.
- The
UN Food and Agriculture Organization, which has issued guidelines for the
safe and responsible use of SCU fertilizers in agriculture.
- The
Canadian Food Inspection Agency, which mandates that SCU fertilizers meet
minimum safety and environmental standards.
- The
World Health Organization (WHO), which has set guidelines for the safe
manufacture and use of SCU fertilizers in agriculture.
Key Highlights: Type Outlook: The sulfur coated urea market
can be categorized into two types: regular sulfur coated urea and polymer
sulfur coated urea. In 2022, the conventional sulfur coated urea segment
accounted for a significant share of sales due to its affordability and ease of
use. Regular sulfur-coated urea is a type of controlled-release fertilizer that
gradually releases nitrogen, making it suitable for a wide range of crops,
including corn, wheat, and soybeans.
The polymer sulfur coated urea segment is expected to witness
the fastest revenue growth throughout the forecast period. This type of
controlled-release fertilizer involves encasing urea granules in a polymer
resin coating, allowing for a more extended and controlled release of
nutrients. It is preferred for high-value crops such as fruits, vegetables, and
ornamental plants due to its advantages, which include reduced nutrient losses
and improved plant growth.
Application Outlook: In 2022, the agriculture sector held the
largest market share and is expected to maintain its leadership throughout the
projection period. SCU is frequently used in agriculture to boost crop yield
and quality by providing plants with a slow-release nitrogen supply. This also
reduces the need for frequent fertilizer applications, saving costs and
reducing environmental impact. The demand for SCU in agriculture is further
driven by the growing food demand stemming from an expanding global population.
The golf courses and professional turf segment is projected
to experience significant growth during the forecast period. This is due to the
increasing demand for aesthetically pleasing landscapes in commercial and
residential properties and the popularity of golf. SCU is employed on golf
courses and in commercial turf management to enhance soil quality, encourage
healthy grass growth, and reduce the frequency of irrigation and mowing.
Furthermore, SCU is chosen for professional lawn maintenance and golf courses
to reduce the environmental impact of fertilizers by minimizing runoff and
leaching.
Regional Outlook: In 2022, the Asia Pacific region dominated
the sulfur coated urea market in terms of revenue. This region's market is
expanding due to factors such as rising food demand, population growth, and
decreasing arable land. Growing economies like China and India, which are among
the largest consumers of urea fertilizers, play a crucial role in the market's
expansion. Additionally, the adoption of sulfur-coated urea in agriculture for
improving crop production and quality is driving market growth. Government
programs that offer subsidies and investments to support sustainable
agricultural practices also contribute to the expansion of the sulfur-coated
urea market in this region.
In the Rest of the World (RoW), the market is anticipated to
grow moderately during the projection period. The rising population, increasing
food demand, and diminishing arable land in this region are primary drivers of
market expansion. Small-scale farming dominates the agriculture sector in this
region, making the adoption of modern fertilizers essential for preserving and
enhancing crop yields. The use of sulfur-coated urea in agriculture to improve
crop production and quality is further fueling market growth. Encouraging
government initiatives to support sustainable agricultural practices also contribute
to the expansion of the sulfur-coated urea market in the RoW.
Competitive Landscape: Key companies in the sulfur coated
urea market include Agrium Inc., BASF SE, Israel Chemicals Limited, Syngenta
AG, Yara International ASA, Helena Chemical Company, Andersons Inc., Simpson
Strong-Tie Company Inc., Haifa Chemicals Ltd., and Hyponex Corporation. These
companies are engaged in strategic developments and new product launches to
stay competitive in the market.
Strategic Developments:
- In
2021, BASF SE expanded its agricultural research and development center in
Brazil to support the development of innovative and sustainable
agricultural solutions, including new sulfur coated urea products, to meet
the growing demand for high-quality crops.
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