South America Boron Fertilizers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Source and Application

South America Boron Fertilizers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Source and Application

  • July 2021 •
  • 88 pages •
  • Report ID: 6134778 •
  • Format: PDF
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. Precision agriculture (PA) is a science of enhancing crop productivity by incorporating the use of high technology sensor and analysis tools. Precise fertilizer application techniques are the future of agriculture, in which micronutrients such as boron, zinc and iron are supplied in controlled way with minimized losses to the environment, caused by leaching to groundwater. It is significant to supply them in a precise way to the plant, so the quantity lost would be minimal and the crops require the desired amount of nutrients. Precision agriculture is considered a novel concept, which focuses over boosting the overall production with minimal labor time and proper management of fertilizers and irrigation facilities. It is an advanced method wherein the farmers optimize the use of water, fertilizer, and other additives to enhance productivity, quality, and yield. The use of precision agriculture in cultivation of crops is one of the significant criteria that helps in dissipating accurate information related to the spatial variability on fields to cultivators. Additionally, increasing knowledge regarding the importance of boron in maintaining soil profile and nutritional balance is among the other factors expected to positively influence the demand for SAM boron fertilizers market.
Boric Acid Segment is expected to be the fastest growing by type during the forecast period for SAM Boron Fertilizers Market.Boric acid, also known as boracic acid or orthoboric acid, is a boron, oxygen, and hydrogen-containing natural compound (H3BO3).

Boric acid crystals are virtually tasteless, odorless, and white. Boric acid is a great source of boron, with up to 17.5% supply. This makes it an even richer source of boron than borate fertilizers or borax. Boric acid powders are a highly soluble type of boron that can be used in both diluted and undiluted forms. Boric acid is completely safe for plants since it is an organic source of a weak and harmless acid that is odorless, stainless, colorless, and non-caustic.
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.
The overall SAM 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 SAM 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 SAM boron fertilizers market. 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.; and Yara are among a few players operating in the SAM boron fertilizers market.
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