The Silicon Fertilizers Market Thrives Valued at US$114.9 Million in 2022, Anticipated Growth with a 4.1% CAGR from 2022 to 2032. Liquid Silicon Fertilizers Take the Lead with a 63.7% Market Share, Propelling Sustainable Farming Practices
The Silicon Fertilizers Market is seeing rapid expansion as a result of the growing demand for environmentally friendly and sustainable farming methods. A vital component, silicon increases the health of plants, facilitates better nutrient uptake, and fortifies their resilience to abiotic stressors like disease and drought. Fertilisers based on silicon are being used by farmers more frequently in an effort to increase crop yields and enhance overall crop quality.
It is projected that the silicon fertiliser market would be valued US$ 114.9 million in 2022 and grow at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2032. Liquid silicon fertilisers are projected to have a 63.7% market share, with sales growing at a compound annual growth rate (CAGR) of 3.1% throughout the forecast period.
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Silicon fertilizers assist in controlling dangerous microbes and avoiding plant illnesses. The increased impact of diseases and pathogens on plants, which diminish production, is the primary factor driving demand in the market. Climatic changes, along with a high incidence of crop malnutrition will augment sales in the market.
Food safety and security have become a requirement as the world’s population grows, and yield loss is a matter of concern. Furthermore, increased urbanization has reduced the amount of land accessible for agriculture, forcing farmers to use external ways to boost production. Increasing demand for ways to improve crop yield will fuel sales of silicon fertilizer.
Moreover, the utilization of silicon fertilizer by farmers to accelerate crop development, produce vegetable crops more organically, and protect plants from bacterial and fungal diseases is increasing. Such developments are expected to bode well for the market over the assessment period.
“Rapid adoption of innovative farming techniques to improve productivity, as well as the growing demand for horticultural crops and field crops in emerging nations will boost sales of silicon fertilizers,” says an FMI analyst.
Key Takeaways:
- The silicon fertilizer industry is expected to grow with CAGRs of 6.6% and 8.2% in Latin America and the Middle East & Africa respectively.
- Market share of East Asia and South Asia is 16.3% and 12.9%, respectively in 2022.
- In form segment, liquid form is dominating the silicon fertilizer market holding 63.7% share in 2022 and it is expected to grow with CAGR of 3.1% over the forecast period.
- Among the type segment, Field crops is dominating the silicon fertilizer industry holding around 45.6% share in 2022 and it is expected to grow with CAGR of 2.9% over the forecast period.
- North America is dominating the global silicon fertilizer market holding around 28.7% share in 2022 and it is expected to grow at a CAGR of 3.1% over the forecast period.
Competitive Landscape
Key players operating in the global silicon fertilizer industry are investing in mergers and acquisitions. With the help of merger and acquisitions players are able to increase their existing product portfolio and improve their regional presence.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global silicon fertilizers market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on form (solid, liquid), type (calcium silicate, sodium silicate, potassium silicate,), application (hydroponics, horticultural crops, field crops, floriculture) across seven major regions of the world.
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Frequently Asked Questions
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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