The silicon fertilizer market is expected to surge with a CAGR of 4.37% to achieve a market size of US$1,327.992 million by 2025, from US$1,027.405 million in 2019.The use of silica is essential in plant growth because the introduction of silicon fertilizer in plants assists in improving the plant’s resistance against abiotic stress conditions. Hence, with the growing impact of climate change worldwide, the market is expected to propel in the forecast period, thus increasing the crop yield. The growing initiatives for sustainable food production due to the growing global population, silicon fertilizers hold significant market potential. The global population is projected to grow to reach 9.8 billion in 2050, in 2100, the population is expected to achieve a size of 11.2 billion (source: The United Nations). Hence with the growing global demand for food, the silicon fertilizer market will also grow at a significant pace during the forecast period.
On the basis of Geography, North America and Europe are estimated to hold a significant market share in the global silicon fertilizer market owing to the early adoption of technology and innovations. On the other hand, the Asia Pacific region will witness a high market growth rate during the forecast period due to the presence of a large population base for the consumption of agricultural food products, especially in China and India. Additionally, a requirement for suitable silicon management for application as fertilizers to increase the rice yield in the Asian regions is being felt. This has further increased the chance of the utilization of silicon fertilizers assisting in raising rice yields followed by its sustainable productivity, burgeoning the market growth in the forecast period.
On the basis of crop type, field crops segment is expected to hold a significant market share in the global silicon fertilizer market over the next five years.
The field crops market is expected to propel owing to growing research activities to assess the changes in field crop yields by utilizing silicon. For example, rice is one of the important cereal crops grown worldwide and with the increasing demand for rice due to the growing global population, many countries are working on assessing the effects of silicon fertilizers. Thus, keeping in view the importance of silicon in rice growth where benefits of silicon are being realized on the application of exogenous silicon, the market for silicon fertilizers is projected to grow at a significantly sustainable pace in the forecast period. Similarly, in the case of wheat, which is the second most cultivated crop, in terms of volume, it has been observed that silicon application showed positive results enhancing the grain yield under stress conditions.
The promising results shown by silicon application in the European region is further propelling the market demand in the forecast period.
In the European region, the use of silicon is majorly used to limit the biotic stress which is caused by diseases and pests. Several experiments also showed that the foliar application of silicon resulted in the increase in plant resistance, thus, bringing on improvements in crop quality and yield. Hence, realizing the benefits provided by silicon for plant protection, in near future, there are chances that silicon may become an important element of the integrated plant protection which all the farmers in the European region are required to follow. Thus, propelling the market demand during the forecast period. Additionally, with the growing organic agriculture, silicon fertilizer holds strong market potential in the forecast period. This is due to the fact that silicon is safe for the natural environment and can be used in organic farming. According to FiBL & IFOAM stats, the organic sector grew with a double-digit growth rate in 2016 comprising 11.4% in Europe and 12% in the European Union. However, the organic farmland growth was slower in comparison to the market, but the growth in 2016 was faster than the previous years. The growth in 2016 recorded was 6.7% in the European region and for the European Union, it was recorded as 8.2%.