South America Boron Fertilizers Market Growth and Forecast by 2028
South America Boron Fertilizers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Source (Boric Acid, Borax, and Others) and Application (Fruits and Vegetables, Cereals and Grains, Oilseeds and Pulses, and Others)
- Status : Published
- Report Code : TIPRE00023507
- Category : Chemicals and Materials
- No. of Pages : 88
- Available Report Formats :
- Last update date : July 08, 2021
2021 Market Size
US$ 382.17 Mn
Base year value
2028 Forecast
US$ 680.65 Mn
Projected by 2028
CAGR 2022-2028
8.6 %
Growth rate
Addressable Market
US$ 3,771.98 Mn
(2022-2028)
The boron fertilizers market in SAM 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.
Brazil and Argentina are the economies in SAM. Boron is one of the major micronutrients responsible for the growth and nourishment of crops. It is an essential form of plant nutrients used to boost the yield and quality of the crop. Boron with calcium is beneficial for cell wall synthesis, hormone regulation, and cell division. This micronutrient is much required for pollination, seed growth, and fruit development in plants. Without enough boron supply, the growth and development of plant and its yield is quite reduced. Boron increases flower production and retention, pollen tube elongation and germination, and seed and fruit development. 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.
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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM boron fertilizers market. The SAM boron fertilizers market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
SAM Boron Fertilizers Market Segmentation
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
SAM Boron Fertilizers Market -Companies Mentioned
- 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.
- Yara
South America Boron Fertilizers Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 382.17 Million |
| Market Size by 2028 | US$ 680.65 Million |
| CAGR (2021 - 2028) | 8.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Source
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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