The global silicon fertilizer market is projected to be valued at US$ 114.9 Million in 2022 and it is expected to grow with a CAGR of 4.1% from 2022 to 2032. Liquid form of silicon fertilizers will account for 63.7% of the total market share., with sales growing at a CAGR of 3.1% over the forecast period.
Silicon fertilizers assist to control 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 high incidence for crop malnutrition will augment sales in the market.
Food safety and security have become essential as the world’s population rises, and yield loss is a source of concern. Furthermore, rising urbanization has reduced the quantity of land available for agriculture, forcing farmers to rely on outside sources to raise productivity. The growing desire for strategies to boost agricultural production will drive sales of silicon fertiliser.
Furthermore, farmers are increasingly using silicon fertiliser to speed crop development, generate organic vegetable crops, and protect plants from bacterial and fungal infections. Such changes are projected to be positive for the market during the evaluation period.
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Key Takeaways:
- The silicon fertilizer market 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 market 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 market 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.
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Silicon Fertilizer Market by Category
By Form:
- Solid
- Liquid
By Type:
- Potassium Silicate
- Calcium Silicate
- Sodium Silicate
By Application:
- Field Crops
- Hydroponics
- Horticultural Crops
- Floriculture
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle east and Africa
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