Overview and Scope
Boron (B) fertilizer refers to a type of fertilizer that contains boron as one of its primary micronutrients to address boron deficiencies in soils and improve the growth of plants. It is used to control plant hormone levels and encourage healthy growth.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the boron fertilizers market in 2023. The regions covered in the boron fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the boron fertilizers market report are Bayer AG, Honeywell International Inc., Yara International ASA, INEOS Capital Limited, The Mosaic Company, Corteva Inc., Asahi Kasei Corporation, BASF Agricultural Solutions, U.S. Borax, China Green Agriculture Inc., Drexel Chemical Company, Verdesian Life Sciences, Kalyani Industries Limited, SCL Italia SpA, Rama Phosphates Ltd., Deveron Corp, AgroLiquid, JH Biotech Inc., Inkabor SAC, Microsource LLC, Koch Agronomic Services LLC, Quiborax SA, Minera Santa Rita SRL, OMEX Agricultural Holdings Limited, Aries Agro Limited, Valagro SpA, Rose Mill Co
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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32. Global Boron Fertilizers Market Competitive Benchmarking
33. Global Boron Fertilizers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Boron Fertilizers Market
35. Boron Fertilizers Market Future Outlook and Potential Analysis
36. Appendix
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