Sulfur Bentonite Market : What is likely to challenge the growth?

October 30, 2020 - The global sulfur bentonite market size is projected to reach USD 130.58 million by 2025, registering a CAGR of 5.6% over the forecast period. Growing deficiency of the sulfur in soil is expected to drive the consumption of sulfur bentonite in agriculture sector globally.

The market is mainly driven by increasing concerns regarding poor sulfur content in the soil. Sulfur produces chlorophyll in plants, which is essential for absorbing nutrients through the process of photosynthesis. It also accelerates biochemical reactions in plants through the activation of enzymes to boost their immunity. Bentonite is used as a binding agent during product manufacturing and acts as a dispersing agent after the addition of the fertilizer to the soil. It aids in soil improvement by refining physical properties, strong water and nutrient retention capacity, and by the absorption of toxic elements.

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Oilseeds application led the Sulfur bentonite market with a volume share of 45.2% in 2018. The product helps the formation of sulfhydryl linkage in oil seeds, which is an important source of pungency in oils, hence improving the overall quantity and quality of the seeds produced. However, fruits and vegetables segment is anticipated to witness a lucrative CAGR of 5.1%, in terms of volume, over the forecast period.

The market value chain is characterized by the integration of players across diverse stages, majorly product manufacturers and end users, which results in the continuous supply of raw materials and lower cost of manufacturing. Companies such as Tiger-Sul, Montana Sulphur & Chemical Co., Coromandel International, and Devco Australia are integrated across the value chain. These companies manufacture various grades of sulfur bentonite fertilizer for global distribution.

Further key findings from the report suggest:

• Fruits and vegetables application accounted for a volume share of 21.9% in 2018 and is expected to witness the fastest growth over the forecast period

• Asia Pacific was the largest market for sulfur bentonite, accounting for 29.7% share, by revenue, in 2018. It is expected to expand at a CAGR of 6.2% from 2019 to 2025

• Major companies operating in the market continuously invest in R&D to improve the product quality. These companies have a strong foothold and better established and well recognized brands which make it difficult for the new players to compete in the market

• In 2017, Coromandel International Limited expanded its phosphoric acid production capacity by 300 tons per day and the capacity of other auxiliary facilities located at Sriharipuram to 9,900 tons per day.

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