Up from the global market value of US$164mn attained in 2018, sales of sulphur bentonite will observe promising growth during the forecast period from 2019 and 2029, according to a market research report by Future Market Insights (FMI)
According to the report, the demand from China would account for around 50 per cent of the total market value towards the end of 2029.
The report opines that market growth will be primarily driven by rapid growth in demand for increased crop yield. The application will be promising in oilseeds, fruits and vegetables, cereals, pulses, crops, lawns, turf and trees.
Oilseeds to remain major application area
Oilseeds are projected to hold significant value share in the global sulphur bentonite market. The use of sulphur bentonite as a fertiliser for oilseeds such as rapeseed, soybean, groundnuts and sunflower will see significant growth over the forecast period.
However, the cereals, pulses and crops segment is estimated to experience lucrative growth opportunities in the market. The fruits and vegetable segment is estimated to grow at a high CAGR.
The growing production of fruits and vegetables such as onion, garlic, ginger and citrus fruits in the region is also projected to drive the market demand. Applications such as lawns, turfs, trees, and others are projected to remain niche application segments.
Some of the major findings of the Sulphur Bentonite Market report include:
· Sulphur bentonite remains among the most intense sulphur carriers that help in boosting crop yield and field productivity.
· Sulphur bentonite is widely used as a fertiliser for numerous crops, cereals, vegetables such as oilseeds, rice, corn, onion and citrus fruits.
· Growing concerns regarding balanced plant nutrition and a significant increase in production and crop yield with the use of sulphur bentonite is projected to create traction in the market.
· Asia Pacific (APAC) will hold a significant value share in the global sulphur bentonite market, owing to the large agricultural base in the region.
· China’s supremacy would further continue to solidify the position of APAC as an attractive market.