Boron Fertilizers Market to Grow with a CAGR of 4.85% Globally through 2029
Surge in research and development activities is expected to drive the Global
Boron Fertilizers Market growth in the forecast period, 2025-2029
According to TechSci Research report, “Boron
Fertilizers Market - Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2029”, the Global Boron Fertilizers Market
stood at USD 2.68 billion in 2023 and is anticipated to grow with a CAGR of 4.85%
in the forecast period, 2025-2029. Initiatives taken by government based on boron
fertilizers has led to favorable market conditions for the Global Boron
Fertilizers Market. Several factors contribute to the growth of various boron fertilizers
products.
Governments around the world are actively promoting
sustainable agricultural practices to ensure food security and environmental
preservation. As part of these efforts, they recognize the crucial role of
boron fertilizers in enhancing crop quality and yield. Boron deficiency can
have a significant impact on plant growth and development, leading farmers to
incorporate boron into their fertilizer strategies for optimal results.
In the United States, organizations like the National
Institute of Food and Agriculture (NIFA) collaborate with government agencies
and other stakeholders to implement comprehensive manure and nutrient
management programs. These programs aim to efficiently manage agricultural waste
while also ensuring the proper utilization of essential nutrients. Recognizing
the importance of boron in plant nutrition, these programs often include the
use of boron fertilizers to supplement soil fertility and support robust plant
growth.
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Efficient boron use is not only important for
sustainable agriculture but also crucial for the well-being of crops and the
environment. Excessive or deficient boron applications can have detrimental
effects, leading researchers to focus on finding innovative ways to enhance
boron use efficiency. Through extensive research and development efforts,
scientists are exploring new application methods, optimizing application rates,
and identifying the optimal timing for boron applications.
By doing so, they aim to ensure that boron fertilizers
provide maximum benefits to crops while minimizing any potential negative
impact on the environment. These dedicated research endeavors not only
contribute to the growth of the market but also pave the way for a more
sustainable and environmentally conscious agricultural industry.
The Global Boron Fertilizers Market is segmented into source,
application, regional distribution, and company.
Based on its source, the boric acid segment held the
largest market share in the forecast period. Boric acid, a type of fertilizer,
is commonly utilized in agriculture to combat insect infestations that hinder
plant growth. It plays a crucial role in addressing boron deficiency,
particularly in regions such as southwestern China, northwestern India, Nepal,
Japan, Bangladesh, and Brazil, where this deficiency is most prevalent.
However, the issue extends beyond these areas, with at
least 80 countries worldwide, including Zambia, Nigeria, Philippines, Thailand,
the Koreas, and various north European countries, experiencing this deficiency.
As a result, the demand for boric acid as a vital boron fertilizer is expected
to drive the growth of the market in these regions.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
Farmers in the region are recognizing the importance
of crop diversification and intensification practices to meet the ever-increasing
demand for food. As part of these practices, the strategic use of boron
fertilizers has emerged as a crucial element. Boron fertilizers not only
enhance crop yields but also facilitate better nutrient uptake, resulting in
improved plant health and increased resistance to diseases and pests. By
employing these innovative techniques, farmers are not only ensuring food
security but also contributing to sustainable agriculture practices for a
healthier and more resilient future.
Major companies operating in Global Boron Fertilizers
Market are:
·
DuPont de Nemours Inc
·
Ineos Group Ltd
·
INVISTA Sarl
·
NOVA Chemicals Corporation
·
Valspar Corporation
·
Mitsui Chemicals, Inc.
·
EVAL Europe N.V
·
Honeywell International, Inc.
·
The Dow Chemical Company
·
Kuraray Co., Ltd
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“Boron deficiencies in soils have been identified in
various regions worldwide, including parts of Asia, Africa, Europe, and North
America. This has led to an increased adoption of boron fertilizers to correct
nutrient imbalances and improve crop productivity in these areas.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Boron Fertilizers Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Source (Borax, Boric Acid, Others), By Application (Fruits & Vegetables, Cereals & Grains, Oilseeds & Pulses, Others), By Region and Competition, 2019-2029F”, has evaluated
the future growth potential of Global Boron Fertilizers Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Boron Fertilizers Market.
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