The Boron Fertilizers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Boron Fertilizers Global Market Report 2024, The boron fertilizers market size has grown strongly in recent years. It will grow from $2.77 billion in 2023 to $3.01 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to soil fertility research, crop yield improvements, deficiency awareness, mining industry growth, fertilizer industry evolution
The boron fertilizers market size is expected to see strong growth in the next few years. It will grow to $4.11 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to precision agriculture adoption, climate change impact, sustainable agriculture initiatives, biofortification programs, organic farming demand. Major trends in the forecast period include boron fertilization mapping, tailored crop-specific formulations, microdosing and controlled release, organic and eco-friendly boron fertilizers, bio-stimulant boron products.
The rising production of fruits and vegetables is expected to boost the growth of the boron fertilizers market going forward. Fruit refers to the sweet or sour seed-bearing sections of plants that can be consumed uncooked and a vegetable refers to a plant portion that can be eaten. Boron is necessary for protein synthesis, the development of seed and cell walls, pollen grain germination, pollen tube expansion, and ultimately fruit set and yield, it also controls glucose metabolism and aids in sugar translocation; hence the rising production of fruits and vegetables is expected to boost the boron fertilizer market. For instance, according to a report published by Statistics Canada, a Canada-based national statistical agency, in 2022, nationally, the overall production of fruits and vegetables increased by 6.1% to 3.5 billion kg in 2022, Ontario produced 55.2% of all vegetables, followed by Quebec (34.0%) and British Columbia (3.1%) in 2022. Fruit sales grew by 15.3% to $1.4 billion in 2022. Therefore, the rising production of fruits and vegetables is driving the growth of the boron fertilizers market.
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The boron fertilizers market covered in this report is segmented –
1) By Fertilizer Type: Boric Acid, Borax, Boron Calcium Nitrate, Boron Humate, Other Types
2) By Crop Type: Cereals And Grains, Fruits And Vegetables, Oilseeds And Pulses, Other Crop Types
3) By Application Method: Foliar Spray, Soil Treatment, Fertigation
4) By End-Use: Agriculture, Horticulture, Floriculture, Other End Uses
Product innovation is the key trend gaining popularity in the boron fertilizers market. Major companies operating in the boron fertilizer market are focusing on developing new products. For instance, in January 2021, U.S. Borax, a US-based leader in the production, supply, and science of borates, launched ANHYBOR boron fertilizer to meet the boron demand. This fertilizer’s unique feature is that it provides two methods of application: as a coating on various fertilizer products, like NPK blends, and as a compound fertilizer enhanced with boron. The product is entirely water soluble, yet it does not rehydrate when stored normally. The fertilizer manufacturing process benefits when ANHYBOR is introduced to compound fertilizers before granulation or compaction. As less material is required to produce the desired boron concentration, its high boron content is advantageous when making compound fertilizers.
The boron fertilizers market report table of contents includes:
1. Executive Summary
2. Boron Fertilizers Market Characteristics
3. Boron Fertilizers Market Trends And Strategies
4. Boron Fertilizers Market – Macro Economic Scenario
5. Global Boron Fertilizers Market Size and Growth
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26. South America Boron Fertilizers Market
27. Brazil Boron Fertilizers Market
28. Middle East Boron Fertilizers Market
29. Africa Boron Fertilizers Market
30. Boron Fertilizers Market Competitive Landscape And Company Profiles
Top Major Players:
- Bayer AG
- Honeywell International Inc
- Yara International ASA
- INEOS Capital Limited
- The Mosaic Company
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