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2. 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).

3. 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.

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

5. 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.

7. 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. 

8. Figure 2. Global Sulphur Coated Urea Market – Opportunity Analysis

9. 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, PursellAgri-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.

10. Figure 3. Global Sulphur Coated Urea Market, Revenue Share (%), By Application, in 2019

11. Global Sulphur Coated Urea Market – Impactof 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.

12. 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

13. 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., Harrell’s LLC

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