PUBLISHER: The Business Research Company | PRODUCT CODE: 1350839
PUBLISHER: The Business Research Company | PRODUCT CODE: 1350839
“Boron Fertilizers Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on boron fertilizers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for boron fertilizers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The boron fertilizers market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the boron fertilizers market 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, and Rose Mill Co.
The global boron fertilizers market is expected to grow from $2.54 billion in 2022 to $2.77 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The boron fertilizers market is expected to reach $3.78 billion in 2027 at a CAGR of 8.1%.
The boron fertilizers market consists of sales of granular, urea prilled, powder, or liquid boron fertilizers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Asia-Pacific was the largest region in the boron fertilizers market in 2022. The regions covered in the boron fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main boron fertilizers fertilizer types are boric acid, borax, boron calcium nitrate, boron humate, and others. Boric acid refers to a crystalline acid with the formula B(OH)3. Boron fertilizers are used for various crop types such as cereals and grains, fruits and vegetables, oilseeds and pulses, and others. These are applied by foliar spray, soil treatment, and fertigation. The end uses are agriculture, horticulture, floriculture, and others.
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.
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.
In January 2021, Rovensa, a Portugal-based provider of agricultural solutions, acquired Oro Agri Europe for an undisclosed amount. The acquisition is anticipated to give clients more marketing, sales, and R&D support in the nations that Rovensa business units already serve, as well as aid in establishing Rovensa's footprint in nations that Rovensa business units do not yet serve. Customers of Oro Agri can now choose from a substantial selection of fresh active ingredients and crop protection products. Oro Agri Europe is a Portugal-based manufacturer of solutions for the agricultural and consumer industries such as boron fertilizers, bio stimulants, and soil conditioners.
The countries covered in the boron fertilizers market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The boron fertilizers market research report is one of a series of new reports from The Business Research Company that provides boron fertilizers market statistics, including boron fertilizers industry global market size, regional shares, competitors with a boron fertilizers market share, detailed boron fertilizers market segments, market trends and opportunities, and any further data you may need to thrive in the boron fertilizers industry. This boron fertilizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.