North America Boron Fertilizers Market Forecast to 2028 COVID19 Impact and Regional Analysis By Source and Application

North America Boron Fertilizers Market Forecast to 2028 COVID19 Impact and Regional Analysis By Source and Application

  • June 2021 •
  • 83 pages •
  • Report ID: 6134716 •
  • Format: PDF
The boron fertilizers market in North America is expected to reach US$ 846.81 million by 2028 from US$ 491.78 million in 2021. The market is estimated to grow at a CAGR of 8.1% 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 mineralbased fertilizers such as boron fertilizers in developing regions. Additionally, growing awareness regarding the importance of boron in maintaining soil profile and nutritional balance is among the other factors expected to positively influence the demand for North America boron fertilizers market.
The borax segment led the North America boron fertilizers market based on type in 2020. The chemical compound borax, also known as sodium borate, has the formula Na2B4O7.10H2O. Borax is a highly soluble boron source; it is readily absorbed by plants and has a major impact on all growth parameters. Since boron is immobile in plants, it cannot be transferred to other tissues after it has been used in actively developing tissues. As a result, a constant supply of available boron is needed for plant uptake during its growth cycle. Since borax is extracted from boron, adding it to the soil will help plants grow in terms of health, development, and reproduction.
The US has the highest number of confirmed cases of COVID19 compared to Mexico and Canada.This is likely to impact the fertilizer manufacturing industry in the region as, due to the COVID19, the overall manufacturing processes, research, and development activities and the supply chain is likely to get affected.

In addition, COVID19 has impacted several industries including agriculture industry negatively in the US. All these industries are highly dependent on agricultural sector, thus generate a huge demand for fertilizers both macro and micronutrients.
The overall North America boron fertilizers market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the North America boron fertilizers market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America boron fertilizers market. Eti Maden; MCC Russian Bor; Minera Santa Rita S.R.L; ORO AGRI Europe; Quimical Tierra; Rose Mill Co.; The Mosaic Company; Valagro S.P.A.; and Yara are among a few players operating in the North America boron fertilizers market.
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