Boron Fertilizers Market Forecasts to 2028 – Global Analysis By Type (Boric Acid, Borax, Other Types), Application (Cereals and Grains, Fruits and Vegetables, Oilseeds and Pulses, Other Applications) and By Geography
According to Stratistics MRC, the Global Boron Fertilizers Market is accounted for $2,665.37 million in 2020 and is expected to reach $5,839.30 million by 2028 growing at a CAGR of 10.3% during the forecast period. Increasing awareness regarding the importance of boron in maintaining soil profile and nutritional balance and growing adoption of precision agriculture are the major factors propelling the market growth. However, a lack of awareness is hampering the market growth.
Boron fertilizer plays a major role in a various range of plant functions containing cell wall formation, protection of structural and functional integrity of biological membranes, movement of sugar or energy into growing parts of plants, and pollination and seed set. It is a micronutrient required in small quantities for the decent growth of a plant and good yield.
Based on the type, the boric acid segment holds the largest share in the market. The boric acid form of fertilizer is generally used in agriculture to clear out the insects, which are reducing plant growth. The easy availability of products and developments bolster the demand for this segment.
By geography, The Asia Pacific is accounted for the largest share in the market during the forecast period due to an increase in investment in the agriculture and horticulture sector. Among the countries of Asia Pacific, China is the largest producer and consumer of boron fertilizers, which account for 60% of total consumption and production across the globe.
Some of the key players profiled in the Boron Fertilizers Market include Eti Mine Works, Russian Bor, Minera Santa Rita S.R.L., ORO AGRI Europe, Quiborax, Yara International, Mill Rose Inc, The Mosaic Company, Valagro S.P.A., Borax, Searles Valley Minerals, Semi Conductor Laboratory (SCL), Inkabor, Oriental Chemical Works Pvt. Ltd, and Compass Minerals International.
Estimated Market Size in 2020:
USD 2,665.37 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 5,839.30 million
Tables, Graphs & Figures
Type, Application and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Boric Acid
• Other Types
• Cereals and Grains
• Fruits and Vegetables
• Oilseeds and Pulses
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Competitive Benchmarking
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Key Questions Answered In The Report
The Global Boron Fertilizers Market is majorly driven by the increasing consciousness regarding the significance of boron in maintaining soil profile and nutritional balance, surging demand to boost agricultural productivity in developing regions, and growing adoption of precision agriculture.
The boric acid segment is growing at the highest CAGR due to it is generally used in agriculture to clear out insects, which are reducing plant growth.
The North America dominated with a significant market share due to the land available for crop production is scarce, and the pressure to enhance crop productivity is high in this region.
Asia Pacific market is growing at the highest CAGR owing to an increase in investment in the agriculture and horticulture sector.
Key players in Boron Fertilizers Market include Eti Mine Works, Russian Bor, Minera Santa Rita S.R.L., ORO AGRI Europe, Quiborax, Yara International, Mill Rose Inc, The Mosaic Company, Valagro S.P.A., Borax, Searles Valley Minerals, Semi Conductor Laboratory (SCL), Inkabor, Oriental Chemical Works Pvt. Ltd, and Compass Minerals International.
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