Austin, July 15, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report estimates the Sulfur Bentonite Market Size at USD 144.8 million in 2023, with a projected CAGR of 5.0% to reach USD 221.9 million by 2032.
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The Sulfur Bentonite market thrives on the growing demand for sulfur-rich fertilizers, particularly those with 90% or higher micronutrient content in elemental sulfur formulations. These fertilizers significantly boost yields in oilseeds, cereals, fruits, and vegetables. Sulfur bentonite's oxidative properties regulate nutrient release, reducing soil nutrient losses and environmental risks. Market growth is supported by accessible raw materials, favorable trade conditions, and effective product commercialization.
China, a major sulfur importer, accounts for about one-third of global trade and a quarter of global consumption, importing 10 to 12 million tons annually to supplement domestic production. In the U.S., the leading sulfur producer globally, April 2024 saw production of 640,000 metric tons (t) of recovered elemental sulfur, consistent with 2023 levels. Total production from January to April 2024 declined 8% from 2023, with April shipments stable at 647,000 t. Cumulative shipments for January to April 2024 totaled 2.43 Mt, 8% lower than the previous year, with ending stocks at 110,000 t by April 2024.
Sulfur bentonite applications focus on maintaining soil nutrient balance and optimizing crop nutrient availability, tailored to soil type, crop diversity, and specific nutrient needs. Factors contributing to declining soil sulfur levels include microbial changes, soil erosion, inadequate drainage, and pollution, prompting widespread use of sulfur-rich fertilizers to restore and enhance crop yields.
Sulfur Bentonite Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 144.8 million |
| Market Size by 2032 | USD 224.4 million |
| CAGR | 5.0% by 2024-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers |
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Segment Analysis
In 2023, the Oilseeds segment contributed the largest share of more than 33% to the Sulfur Bentonite market. These include sunflower, groundnut, sesame, safflower, mustard, and rapeseed—all of which architect significant gains from Sulfur Bentonite for increment in oil content and overall yield improvement. Since oilseeds are the lifeline for edible oils and industrial applications, there will always be a demand to provide efficient fertilization for optimal results. The dominance of the Oilseeds segment underlines the role that Sulfur Bentonite will play in supporting global agriculture with its oilseed production requirements in the coming years.
Recent Developments
- May 2023: The Jordan Phosphate Mines Company signed an MoU with Safe sulfur, a Canadian company specializing in the sulfur industry, for establishing a plant in Aqaba that will produce 100,000 tons per year of Sulfur Bentonite fertilizers.
- March 2023: Tiger Sul has partnered with HGS BioScience. The first product after their collaboration is Tiger Humi[K] 4%, which features a physically combined carbon and sulfur bentonite in one convenient granule.
Regional Analysis
Asia Pacific dominated the Sulfur Bentonite market in 2023 and held a revenue share of more than 35%. This is attributed to extensive agriculture practiced in the region, mainly in countries such as China, India, and South-East Asian countries. The Asia Pacific region possesses diverse agricultural production, starting from basic crops like rice and wheat to high-value fruit and vegetables. This is widely adopted across the agricultural sectors, as Sulfur Bentonite is applied to improve soil fertility, thereby improving crop yields by addressing sulfur deficiencies. Government initiatives aiming to promote sustainable agriculture practices further bolster the market by encouraging the use of sulfur-based fertilizers to boost agricultural productivity. With increasing populations and a resultant rise in food demand, Asia Pacific continues to play a leading role in demanding Sulfur Bentonite for both domestic agricultural requirements and global food supply chains.
SNS View on Sulfur Bentonite Market
The Sulfur Bentonite market continues to grow, driven by strong demand for sulfur-based fertilizers, especially in enhancing the yields of a wide range of crops, from oilseeds to cereals, fruits, and vegetables. In this respect, the product has unique oxidative properties that make it useful for managing the release of its nutrients while also controlling environmental hazards associated with soil nutrient depletion. The discussions are expected to mainly center around the growth drivers, such as congenial trade conditions, easy access to raw materials, and innovations in products that are supporting commercialization of the market. On the global level, active import, particularly by China, underlines the critical element in the terms of market balance. In the United States, the other large manufacturer, stable production, and planned inventories speak of market stability, despite that demand is still jumping. Continuous development, targeting better soil nutrient balance and environmentally friendly agricultural solutions, once more supports the resilience of the market.
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Key Takeaways:
- Growing demand for durable and high-performance coatings in a wide range of industries.
- Technological developments are being introduced into the nano-coating and ceramic formulations segment, thus changing market dynamics.
- Collaborations at strategic levels and regulatory initiatives are changing the growth trajectory of this market.
- The significant growth opportunities from the Asia-Pacific region arising due to industrial growth and infrastructure projects.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Sulfur Bentonite Market Segmentation, By Type
8. Sulfur Bentonite Market Segmentation, By Application
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
13. Use Case and Best Practices
16. Conclusion
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