Market Introduction
Asia-Pacific continent comprises of several developing and developed economies such as China, India, Japan, South Korea, Australia, among others. The increased concern about soil profile and nutritional balance, as well as increased demand for high yield, are expected to drive the boron fertilizers market in the region. Boron fertilizers demand growth in emerging economies is expected to generate lucrative opportunities for the boron fertilizers industry in the near future. Also, growing need for exotic fruits and vegetables is the major factor driving the growth of the APAC boron fertilizers market.
The COVID-19 is anticipated to cause a significant economic loss in the Asia-Pacific especially in developing countries like India. The consequences and impact can be even worse and totally depends on the spread of the virus. The governments of various Asia-Pacific countries are taking possible steps to restrict the spread of the virus by announcing lockdown, which in turn has negatively impacted the revenue generated by the market. The Government have asked the manufacturers to delay their production which will adversely affect the global supply of fertilizers. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the COVID-19 would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Till now, India has the highest number of COVID -19 confirmed cases.
Market Overview and Dynamics
The boron fertilizers market in APAC, is expected to reach US$ 1,560.69 million by 2028 from US$ 895.58 million in 2021. The market is estimated to grow at a CAGR of 8.3% from 2021 to 2028. In developing regions, a strong focus has been laid upon improvising and strengthening the agricultural facilities through increased investment and supportive government measures. The rising need for food security to support the increasing population along with the surging need to boost agricultural yield has propelled the adoption of mineral-based fertilizers such as boron fertilizers in developing regions.
Key Market Segments
The APAC boron fertilizers market is segmented into source, application and country. Based on source, the APAC 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 APAC boron fertilizers market is segmented into oilseed and pulses, fruits and vegetables, cereals and grains, and others. The fruits and vegetables segment dominated the APAC boron fertilizers market in terms of value in 2020 and is expected to register the highest CAGR during the forecast period 2021–2028.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the boron fertilizers market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Eti Maden; MCC Russian Bor; Minera Santa Rita S.R.L; Quimical Tierra; Rose Mill Co.; Valagro S.P.A.; and Yara among others.
Reasons to buy report
APAC Boron Fertilizers Market Segmentation
APAC Boron Fertilizers Market -By Source
APAC Boron Fertilizers Market -By Application
APAC Boron Fertilizers Market -By Country
APAC Boron Fertilizers Market -Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 895.58 Million |
| Market Size by 2028 | US$ 1,560.69 Million |
| CAGR (2021 - 2028) | 8.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Source
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Boron Fertilizers Market is valued at US$ 895.58 Million in 2021, it is projected to reach US$ 1,560.69 Million by 2028.
As per our report Asia Pacific Boron Fertilizers Market, the market size is valued at US$ 895.58 Million in 2021, projecting it to reach US$ 1,560.69 Million by 2028. This translates to a CAGR of approximately 8.3% during the forecast period.
The Asia Pacific Boron Fertilizers Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Boron Fertilizers Market report:
The Asia Pacific Boron Fertilizers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Boron Fertilizers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Boron Fertilizers Market value chain can benefit from the information contained in a comprehensive market report.
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