Boron Fertilizers Market: Introduction

  • Boron is a micronutrient critical for the growth and health of all crops. Boron fertilizer plays a key role in a diverse range of plant functions including cell wall formation and stability, maintenance of structural and functional integrity of biological membranes, movement of sugar or energy into growing parts of plants, and pollination and seed set.

Key Drivers of Boron Fertilizers Market

  • Increase in concern of the soil profile & nutritional equilibrium and rise in demand for high yield are expected to drive the boron fertilizers market. Growth in demand for boron fertilizers in emerging economies is likely to create lucrative opportunities for the boron fertilizers market in the near future.
  • Increase in investment in the agricultural sector, especially in South Africa, is anticipated to boost the boron fertilizers market during the forecast period
  • Demand for food is increasing due to the rise in population. Underdeveloped and developing countries lack proper infrastructure for storage and distribution of food grains and edible agriculture produce. Demand to improve the yield of crops is high to cater to the increasing demand for food. Use of advanced agrochemicals is necessary to meet these needs. This is propelling the demand for boron fertilizers across the globe.
  • Expansion in agriculture and horticulture sectors across the globe due to the increase in population is estimated to drive the boron fertilizers market during the forecast period
  • Rise in concern over the current pattern of usage of fertilizers, poor nutrition management, decline in soil fertility, and weak marketing and distribution systems are major restraints of the market. These concerns create opportunities for bio-fertilizers and micronutrient fertilizers. This is anticipated to fuel the boron fertilizers market.

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Regulatory and Environment Constraints Likely to Hamper Market

  • Availability of organic substitutes of crops is projected to hamper the global boron fertilizers market. Regulatory and environmental constraints and high production costs are likely to act as drawbacks for the boron fertilizers market.
  • Boron fertilizers are more expensive than a physical combination or blend of the primary nutrient sources, since they require additional processing. This is also projected to adversely affect the market.

Asia Pacific to Hold Large Share of Global Boron Fertilizers Market

  • Asia Pacific was the leading region of the global boron fertilizers in 2018. In terms of consumption, the region accounted for 60% share of nitrogen consumption across the globe in 2018, with China representing approximately half of the consumption.
  • China is the largest producer and consumer of boron fertilizers in Asia Pacific. Major Asia Pacific economies, such as China, Australia, New Zealand, and India provide vast opportunities for agriculture and horticulture sectors in the region. This is likely to fuel the boron fertilizers market in the region.
  • In terms of demand, the market in Asia Pacific is followed by that in North America and Europe. The U.S. dominated the market in North America. The country is also the one of the largest importers of fertilizers in the world.
  • Consumption of fruits and vegetables in Europe is likely to stabilize during the forecast period. This is due to market saturation in relation to necessary food intake. Consumption in terms of value is still growing. Import of horticultural products is rising faster than production in Europe. Stabilization of consumption of fruits and vegetables in Europe is anticipated to fuel the boron fertilizers market.
  • South Africa is the largest exporter of fruits to Europe. Boron fertilizers are primarily used in South Arica for the production of fruits.
  • Latin America is an important net exporter of food and agricultural commodities. The region is associated with the production and export of a diverse range of agricultural commodities. Brazil leads in terms of absolute agricultural GDP. It is the largest country in terms of land area and mouths to feed. This is estimated to boost the demand for boron fertilizers in the region.

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Key Players Operating in Market

The global boron fertilizers market is highly fragmented, with the top manufacturers accounting for approximately 45% to 50% share. Key players operating in the boron fertilizers market include:

  • Russian Bor Concern OJSC
  • QUIBORAX
  • Minera Santa Rita S.R.L.
  • Inkabor
  • Eti Maden
  • Tierra
  • Searles Valley Minerals

Global Boron Fertilizers Market: Research Scope

Global Boron Fertilizers Market, by Type

  • Boracic Acid
  • Borax
  • Others

Global Boron Fertilizers Market, by Application

  • Oil Crops
  • Grain Crops
  • Vegetables
  • Others

Global Boron Fertilizers Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Boron Fertilizers Market

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