According to a new report published by Allied Market Research, titled, Silicon Fertilizers Market by Type, Form and Application: Global Opportunity Analysis and Industry Forecast, 2016 - 2025 the global silicon fertilizers market was valued at $87.43 million in 2016, and is projected to reach $125.84 million by 2025, registering a CAGR of 4.1% from 2017 to 2025. In 2016, 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 2016 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 2016.
- In 2016, 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 2016. 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.