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.
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.
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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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