September 19, 2022 09:00 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, Sept. 19, 2022 (GLOBE NEWSWIRE) -- The global Sulphur coated urea market is expected to exhibit a stable CAGR of 3.3% with an estimation valued at US$ 1,050.20 Mn in 2022 surpassing a valuation of US$ 1,453.0 Mn by 2032. The surging sales perspectives are attributed to the diverse usage of Sulphur in industries like agriculture, golf courses, professional lawn care, turf, and greenhouses bolstering the growth in the market.
According to Future Market Insights analysis, the Sulphur coated urea market registered a historic CAGR of 3.4% from 2015 to 2021. According to the studies, growth in the market witnessed a slight decline, registering a 3.3% CAGR for the period between 2022 and 2032.
The increased availability of several other coated particles which resulted in stagnant market growth across the forecast period from 2022 to 2032 is expected to propel the demand for Sulphur coated urea market. In addition to that, the market is expected to excel amid a surging number of golf courses globally and increased spending on luxury amenities such as household lawns.
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Dominant players in the market are focused on heavy investments and innovations for the development of products with improved applications and the introduction of sustainable products in order to minimize carbon footprints. On the other hand, some of the other players are concentrating on capacity expansions in emerging economies to capitalize on expanding their agriculture sector.
More Insights into the Sulphur Coated Urea Market
According to FMI estimations, the U.S. is expected to remain one of the leading consumers of Sulphur coated urea attributing to the rising applications in diverse industries including the residential sector and the agriculture sector among others. The country is predicted to account for about 20%-25% of the global value share in the Sulphur coated urea market.
Emerging economies like China, Japan, and Australia are expected to be the fastest growing Sulphur coated urea market all over the Asia Pacific region owing to the rising preference for luxury amenities such as golf courses, community shades, horticulture, gardens, etc., which is creating a conducive environment for key players in the region.
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3.1. Key Trends Impacting the Market
Explore FMI’s Extensive Ongoing Coverage on Chemicals & Materials Domain
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Coating Additives Market Size: The global coating additives market is projected to surge at steady growth rate and exhibit a CAGR of 4.8% during the forecast period (2017-2022). The global market for coating additives is projected to stand a US$ 8,851.3 Mn by the end of 2022.
Sulphur Hexafluoride Market Value: Sulphur hexafluoride is a colourless and odourless gas. Its chemical formula is SF6. In Sulphur hexafluoride structure, one sulphur atom is surrounded by six fluorine atoms. This inorganic gas is non-toxic, non-flammable and is soluble in water. Its CAS No. is 2551-62-4.
Coating Auxillaries Market Analysis: Coating auxillaries are consumed for the purpose of optimizing as well as supporting the application of coatings and release agents to guarantee an smooth production flow. Various products such as wiping fillers and dilutions, primers, cleaners, and mould cleaners belong to this category.
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