Boric Acid Segment is expected to be the fastest growing during the forecast period for SAM Boron Fertilizers Market.
According to The Insight Partners market research study on “SAM Boron Fertilizers Market to 2028 – COVID-19 Impact and Analysis and Forecast by: Source and Application,” the market is expected to reach US$ 680.65 million by 2028 from US$ 382.17 million in 2021. The market is estimated to grow at a CAGR of 8.6% from 2021 to 2028. The report provides trends prevailing in the SAM boron fertilizers market along with the drivers and restraints pertaining to the market growth. Increasing knowledge regarding the importance of boron in maintaining soil profile and nutritional balance is the major factor driving the growth of the SAM boron fertilizers machine market. However, issues associated with the lack of knowledge hinder the growth of SAM boron fertilizers market.
The SAM boron fertilizers market is segmented into source, application and country. Based on source, the SAM boron fertilizers market is segmented into boric acid, borax, and others. The borax segment dominated the market in 2020 and boric acid segment is expected to be the fastest growing during the forecast period. By application, the boron fertilizers market is segmented into oilseed and pulses, fruits and vegetables, cereals and grains, and others. The fruits and vegetables segment dominated the SAM boron fertilizers market in terms of value in 2020 and is expected to register the highest CAGR during the forecast period 2021–2028.
Brazil has the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador, among others. The government of SAM has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that SAM will face lower export revenues, both from the dropping commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners. Containment measures in several countries of SAM will reduce economic activity in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained.
Eti Maden; MCC Russian Bor; Minera Santa Rita S.R.L; ORO AGRI Europe; Quiborax; Quimical Tierra; Rose Mill Co.; The Mosaic Company; Valagro S.P.A.; and Yara are among the leading companies in the SAM boron fertilizers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The report segments the SAM Boron Fertilizers market as follows:
SAM Boron Fertilizers Market – By Source
- Boric Acid
- Borax
- Others
SAM Boron Fertilizers Market – By Application
- Fruits and Vegetables
- Cereals and Grains
- Oilseeds and Pulses
- Others
SAM Boron Fertilizers Market – By Country
- Brazil
- Argentina
- Rest of SAM
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