Global Silicon Fertilizer Market to Witness Exponential Growth by 2025
According to a new report
published by KD Market Insights, titled, Silicon Fertilizers Market by
Type, Form and Application: Global Opportunity Analysis and Industry Forecast,
2017 - 2025 the global silicon fertilizers market was valued at $87.43 million
in 2017, and is projected to reach $125.84 million by 2025, registering a CAGR
of 4.1% from 2017 to 2025. In 2017, the field crops application
segment accounted for more than 50% share of the global silicon fertilizers
market in terms of value.
Silicon is the second most
abundant chemical in the earths crust after oxygen. Naturally, silicon occurs
as oxides and silicates and is utilized as a fertilizer owing to nourishment of
crops and resistance to several plant diseases. Silicon plays a large role in
plant growth, mineral nutrition, mechanical strength, and resistance to fungal
diseases, herbivory, and adverse chemical conditions. Silicon fertilizers help
in the development of plant roots, prevent stalk lodging and decrease some
abiotic stress, which promotes upright growth of all field or horticultural
crops. Silicon fertilizers help plants in retaining other essential micronutrients
such as iron, copper, and boron thus improving productivity along with
sustainable production of all agronomic crops. Different applications of
silicon fertilizer, for example, field crops, hydroponics, and floriculture are
expected to exhibit high demand in future. Field crops and horticultural crops
are projected to be the top investment pockets owing to increase in consumption
of food and demand for healthy & nutritious food among the increasing
population across the globe.
Silicon fertilizers are
essential elements for plant growth and play an important role in balanced crop
nutrition. A silicon deficiency can lead to various diseases in plants such as
powdery mildew, septoria and eye-spot, insect pests and others that can reduce
the quality and quantity of plants. Silicon enhances the plants ability to
resist micronutrient and other metal toxicities such as aluminum, copper, iron,
manganese, and zinc, which helps enhance the productivity and growth of crops.
Silicon fertilizers find extensive applications in agribusiness, thereby
driving the silicon fertilizer industry. The requirement of effective
fertilizers is on the rise due to poor soil quality, and therefore, the
effectivenessof micronutrients for enhancing the crop yield and productivity
with minimum cost have fueled the popularity of silicon fertilizer indirectly
among farmers in the recent years.
Calcium silicate, sodium
silicate, potassium silicate, are some of the major types of silicon
fertilizers that are required by crops and plants. Calcium silicate is the most
commonly used silicon fertilizer, which is obtained as a by-product of steel
and phosphorus production. Rise in demand for field crops owing to change in
lifestyle and increase in health awareness have driven the demand for calcium
silicate. Moreover, factors that boost the demand for calcium silicate include
high yield per hectare and increased requirement of fruits and vegetables
globally.
However, factors such as
lack of awareness among farmers in developing countries regarding the
application of silicon fertilizers as well as lack of analytical laboratories
to test plant tissue for the nutrient requirements and to conduct soil tests
for gauging the amount of silicon for many agronomic or horticultural crops are
expected to restrain the global silicon fertilizers market growth during the
forecast period. Furthermore, the adoption of new methods of farming for
enhancing profitability fuels the demand for silicon fertilizers.
Key Findings of the
Silicon Fertilizer Market Study:
- The liquid silicon
fertilizer segment was the highest contributor to the silicon fertilizers
market in 2017 and is projected to grow at a CAGR of 4.6%.
Calcium silicate occupies more than 50% of silicon fertilizers market share and is projected to grow at a CAGR of 4.3%.
- The demand for field crops is continuously increasing around the globe, especially in developing countries such as China, India, and Brazil, and is projected to grow at a CAGR of 4.3% during the forecast period.
- The field crops application segment accounted for 54% share of silicon fertilizers market and is expected to grow at a CAGR of 4.3%.
- Asia Pacific is projected to exhibit rapid growth in the silicon fertilizers market, owing to rise in its economy with a large population base, and is projected to grow at the most astounding CAGR of 4.5% from 2017 to 2025.
- China accounted for the highest share accountingapproximately 40% in the Asia-Pacific silicon fertilizers market, in 2017.
- In 2017, the horticultural crops application segment accounted for 25.4% share of the silicon fertilizers market and is expected to grow at a CAGR of 4.2%.
Calcium silicate occupies more than 50% of silicon fertilizers market share and is projected to grow at a CAGR of 4.3%.
- The demand for field crops is continuously increasing around the globe, especially in developing countries such as China, India, and Brazil, and is projected to grow at a CAGR of 4.3% during the forecast period.
- The field crops application segment accounted for 54% share of silicon fertilizers market and is expected to grow at a CAGR of 4.3%.
- Asia Pacific is projected to exhibit rapid growth in the silicon fertilizers market, owing to rise in its economy with a large population base, and is projected to grow at the most astounding CAGR of 4.5% from 2017 to 2025.
- China accounted for the highest share accountingapproximately 40% in the Asia-Pacific silicon fertilizers market, in 2017.
- In 2017, the horticultural crops application segment accounted for 25.4% share of the silicon fertilizers market and is expected to grow at a CAGR of 4.2%.
In terms of value,
Asia-Pacific and LAMEA collectively contributed three-fifths share in the
global silicon fertilizers market in 2017. The key players operating in the
silicon fertilizers industry are Agripower, Aries Agro Ltd, BASF SE, Compass
Minerals International, Inc., Denka Co. Ltd., MaxSil, Plant Tuff Inc., Redox
Pty Ltd., The Mosaic Company, and Yara international ASA.
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