Market Introduction
The Middle East & Africa region includes countries such as South Africa, Saudi Arabia, the UAE, and the rest of MEA. The Middle East & Africa are an evolving market for boron fertilizers, and the demand for the product is relatively high in the region. These markets are expected to expand and stimulate the demand for boron fertilizers. New investment and better marketing strategies have led to the capture of market share in the Middle East and Africa. Also, growth in awareness regarding the importance of boron in maintaining soil profile and nutritional balance is the major factor driving the growth of the MEA boron fertilizers market.
South Africa has the largest COVID-19 cases in the Middle East and Africa region, and is followed by Saudi Arabia and the UAE, among others. The UAE was the first country in the Middle East and Africa to report a confirmed case of coronavirus. Due to lockdown in Middle East and African countries, various companies remain closed which led to the reduction in the sale of various products which has negatively impacted the market for fertilizers in the region.
Market Overview and Dynamics
The boron fertilizers market in MEA, is expected to reach US$ 236.95 million by 2028 from US$ 139.11 million in 2021. The market is estimated to grow at a CAGR of 7.9% 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. Also, the accessibility of boron fertilizer is too low and is generally associated with high costs. However, significant government investments on agricultural sector coupled with increasing base of manufacturers in the region is expected to boost the utilization of such fertilizers in the region.
Key Market Segments
The MEA boron fertilizers market is segmented into source, application and country. Based on source, the MEA 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 MEA 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 MEA 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; ORO AGRI MEA; Quimical Tierra; Rose Mill Co.; and Yara among others.
Reasons to buy report
MEA Boron Fertilizers Market Segmentation
MEA Boron Fertilizers Market -By Source
MEA Boron Fertilizers Market -By Application
MEA Boron Fertilizers Market -By Country
MEA Boron Fertilizers Market -Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 139.11 Million |
| Market Size by 2028 | US$ 236.95 Million |
| CAGR (2021 - 2028) | 7.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Source
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa Boron Fertilizers Market is valued at US$ 139.11 Million in 2021, it is projected to reach US$ 236.95 Million by 2028.
As per our report Middle East and Africa Boron Fertilizers Market, the market size is valued at US$ 139.11 Million in 2021, projecting it to reach US$ 236.95 Million by 2028. This translates to a CAGR of approximately 7.9% during the forecast period.
The Middle East and Africa 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 Middle East and Africa Boron Fertilizers Market report:
The Middle East and Africa Boron Fertilizers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Boron Fertilizers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Boron Fertilizers Market value chain can benefit from the information contained in a comprehensive market report.
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