Boron Fertilizers Market to hit US$ 4,316.08 million by 2028, Globally, by 2028 at 8.4% CAGR: The Insight Partners

The boron fertilizers market was valued at US$ 2,272.48 million in 2020 and is projected to reach US$ 4,316.08 million by 2028; it is expected to grow at a CAGR of 8.4% from 2021 to 2028. Boron fertilizer is a micronutrient fertilizer that contains boron in it. Boron is a micronutrient required in small quantities for the decent growth of a plant and good yield. Application of boron should be precise as low application can cause deficiency in crops and excess application can cause toxicity in crops. It plays a key role in regulating plants' hormone levels.

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Players Mentioned are -

Eti Maden
Minera Santa Rita S.R.L.
ORO AGRI Europe
Valagro S.P.A.
The Mosaic Company
Quiborax
Quimical Tierra
Rose Mill Co.
MCC Russian Bor
Yara

The deficiency of boron is one of the most common nutritional problems affecting plant growth. To meet out such deficiency, boron is supplied synthetically to the plants in the form of fertilizers through soil. Boron fertilizers are used to provide texture to the crop, enhance soil quality, increase soil uptake, and boost the overall agricultural output. Therefore, boron-based fertilizers are majorly added in soil where the land available for crop production is scarce, and the pressure to enhance crop productivity is high.

Impact of COVID-19 Pandemic on Boron Fertilizers Market

The COVID-19 outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global agriculture industry is one of the significant industries suffering severe disruptions such as supply chain breaks, labor shortage, and uncertain demand. The shutdown of various plants and factories is disrupting the global supply chains and negatively impacting the manufacturing activities, delivery schedules, and products sales in the global market. A few companies have already announced possible delays in product deliveries and slump in future sales of their products.

The report includes the segmentation of the global boron fertilizers market as follows:

Boron Fertilizers Market, by Source

Boric Acid
Borax
Boron Fertilizers Market, by Application

Fruits and Vegetables
Cereals and Grains
Oilseeds and Pulses

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This release was published on openPR.