PUBLISHER: The Business Research Company | PRODUCT CODE: 1669450
PUBLISHER: The Business Research Company | PRODUCT CODE: 1669450
Boron (B) fertilizer is a category of fertilizer that incorporates boron as a primary micronutrient to address boron deficiencies in soils, promoting improved plant growth and health. Its application is crucial for controlling plant hormone levels and fostering the overall well-being of plants.
The main types of boron fertilizers include boric acid, borax, boron calcium nitrate, boron humate, and others. Boric acid is a crystalline acid characterized by the formula B(OH)3. Boron fertilizers find application in various crop types, including cereals and grains, fruits and vegetables, oilseeds and pulses, among others. These fertilizers can be applied through methods such as foliar spray, soil treatment, and fertigation. The end uses of boron fertilizers span across agriculture, horticulture, floriculture, and other related sectors.
The boron fertilizers market research report is one of a series of new reports from The Business Research Company that provides boron fertilizers market statistics, including boron fertilizers industry global market size, regional shares, competitors with a boron fertilizers market share, detailed boron fertilizers market segments, market trends and opportunities, and any further data you may need to thrive in the boron fertilizers industry. This boron fertilizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The boron fertilizers market size has grown strongly in recent years. It will grow from $2.99 billion in 2024 to $3.23 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to soil fertility research, crop yield improvements, deficiency awareness, mining industry growth, fertilizer industry evolution
The boron fertilizers market size is expected to see strong growth in the next few years. It will grow to $4.55 billion in 2029 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to precision agriculture adoption, climate change impact, sustainable agriculture initiatives, biofortification programs, organic farming demand. Major trends in the forecast period include boron fertilization mapping, tailored crop-specific formulations, microdosing and controlled release, organic and eco-friendly boron fertilizers, bio-stimulant boron products.
The burgeoning production of fruits and vegetables is poised to be a catalyst for the growth of the boron fertilizers market in the foreseeable future. Boron, essential for various physiological processes in plants such as protein synthesis, cell wall development, and fruit yield enhancement, plays a pivotal role in fruit and vegetable production. The use of boron fertilizers aids in maintaining optimal boron levels, crucial for pollen germination, fruit set, and yield augmentation. For instance, as per a report from Statistics Canada in 2022, the national production of fruits and vegetables surged by 6.1% to 3.5 billion kg. Notably, Ontario contributed 55.2% of all vegetable production, followed by Quebec (34.0%) and British Columbia (3.1%) in 2022. Fruit sales also exhibited substantial growth, escalating by 15.3% to $1.4 billion in the same year. Consequently, the increasing production of fruits and vegetables acts as a significant driver fueling the expansion of the boron fertilizers market.
The escalating food demands of a burgeoning global population stand as a pivotal factor propelling the growth trajectory of the boron fertilizers market. The rising need for food resources, driven by the expanding global population, necessitates the utilization of boron fertilizers to enhance crop yields and quality. These fertilizers address soil deficiencies in boron, facilitating crucial physiological processes in plants. For instance, statistics from the U.S. Census Bureau in September 2022 highlighted a 0.4% increase in the United States' resident population, totaling 333,287,557 in 2022. As the population grows, the demand for food resources rises, emphasizing the pivotal role of boron fertilizers in meeting these increased food demands and consequently driving the growth of the boron fertilizers market.
Leading companies in the boron fertilizer market are concentrating on creating innovative solutions, such as diammonium phosphate (DAP) fertilizer, to boost agricultural productivity and tackle nutrient deficiencies in the soil. Diammonium phosphate (DAP) fertilizer is a commonly used chemical fertilizer that provides two essential plant nutrients: nitrogen and phosphorus. For example, on April 23, 2024, Fauji Fertilizer Company Limited, a chemical manufacturing firm based in Pakistan, introduced Sona Boron DAP, the country's first value-added diammonium phosphate fertilizer. This groundbreaking product contains a nutrient composition of 18% nitrogen, 46% phosphorus, and 0.1% boron, specifically addressing the significant boron deficiency present in around 60% of Pakistan's soils. Sona Boron DAP is designed to improve crop yields by 10-23% and is suitable for use through fertigation during the later stages of plant growth.
Major companies in the boron fertilizer market are strategically investing in expanding their fertilizer production units to meet escalating demands and broaden their customer base. A pertinent instance is Israel Chemicals Ltd. (ICL), an Israeli fertilizer manufacturer, unveiling an extensive investment plan in Brazil in August 2023. The strategic initiative aims to boost fertilizer production capacity by 20% through controlled release technology. A substantial BRL100 million investment is designated for a new production unit, slated to commence operations in 2025. With a focus on expansion and agribusiness integration, the company allocated BRL70 million in 2022, doubling its 2021 investment. This strategic move positions ICL to effectively meet the mounting demand for water-soluble fertilizers and foliar fertilizers in the upcoming five years. The new plant, equipped with cutting-edge technology and an integrated control system, represents a significant advancement in fertilizer production, epitomizing ICL's commitment to innovation and meeting market demands. Notably, ICL has introduced a pioneering soil fertilizer, encapsulating nine essential nutrients, including boron, within a single granule, showcasing its innovation in addressing agricultural needs.
In October 2022, Nouryon, a chemical manufacturer based in the Netherlands, acquired ADOB Fertilizers for an undisclosed sum. This acquisition is part of Nouryon's strategy to strengthen its crop nutrition portfolio by incorporating innovative technologies such as biodegradable micronutrients and high-solubility specialty fertilizers, addressing the increasing demand for sustainable agricultural solutions while solidifying its presence in the Agriculture & Food sector. ADOB Fertilizers, located in Poland, specializes in producing a variety of fertilizers, including boron fertilizers.
Major companies operating in the boron fertilizers market include Bayer AG, Honeywell International Inc., Yara International ASA, INEOS Capital Limited, The Mosaic Company, Corteva Inc., Asahi Kasei Corporation, BASF Agricultural Solutions, U.S. Borax, China Green Agriculture Inc., Drexel Chemical Company, Verdesian Life Sciences, Kalyani Industries Limited, SCL Italia SpA, Rama Phosphates Ltd., Deveron Corp, AgroLiquid, JH Biotech Inc., Inkabor SAC, Microsource LLC, Koch Agronomic Services LLC, Quiborax SA, Minera Santa Rita SRL, OMEX Agricultural Holdings Limited, Aries Agro Limited, Valagro SpA, Rose Mill Co
Asia-Pacific was the largest region in the boron fertilizers market in 2024. The regions covered in the boron fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the boron fertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The boron fertilizers market consists of sales of granular, urea prilled, powder, or liquid boron fertilizers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Boron Fertilizers Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on boron fertilizers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for boron fertilizers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The boron fertilizers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.