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.
• 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
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