Silicon Fertilizer – Beneficial for Plant Growth
Silicon fertilizer refers to that fertilizer which is made from silica. Silica is considered an essential ingredient for the enhanced growth of plants as it travels to the active growing points inside the plants and makes the cell walls of the plant stronger after complexing with organic compounds. The figure below represents the market size of the silicon fertilizer market, which shows the market reached US$1,327.992 million by the year 2025 from US$1,207.405 million in the year 2019.
Silicon Fertilizer Market, Forecasts From 2019 to 2025, in Us$Million
Source: Knowledge Sourcing Estimates
The market for silicon fertilizer is poised to witness a nominal growth over the course of the next five years. The major factors bolstering the market growth include the burgeoning requirements regarding the enhancement of the plant growth and improvement of plant resistance in abiotic stress conditions as silicon helps to improve it. The major factor playing a significant role in shaping up the silicon fertilizer market growth includes the growing impact of unfavorable climatic conditions in many parts of the world. Moreover, the market is also poised to witness a healthy growth on account of the growth initiatives regarding sustainable agriculture in both developed and developing economies of the world. Furthermore, environmental protection laws are forcing farmers to replace chemical fertilizers with sustainable silicon fertilizers, thereby positively impacting market growth. The rapid urbanization also plays a significant role in driving the demand for sustainable farming techniques arable land is shrinking as more and more people are moving to urban areas, thus the required arable land for the cultivation of crops is eventually decreasing. The population on the other hand is also increasing, this, in turn, is anticipated to augment the demand for food globally, hence projected to positively impact the demand for silicon fertilizers in the coming years, thereby propelling the business growth opportunities for the manufacturers over the next five years. Furthermore, companies are actively participating in the development and launch of new products to cater to the growing requirements of the end-users. For example, recently in January 2020, Rashtriya Chemicals & Fertilizers Ltd, a public sector undertaking based out of India announced the launch of its new product, soluble silicon fertilizer.
Accoding to the United Nations data, globally, the urban population is continuously rising, with around 55 per cent of the global population living in urban areas in 2018. Also, the urban population is projectd to reach to 68 per cent of the global population by 2050 from 30 per cent in 1950. In 2018, Northern America was the most urbanized region in the world, with 82 per cent urban population, followed by Latin America and the Caribbean Europe, Oceania, and Asia. On the other hand, Africa remained the rural region, with less than 45 per cent of its population living in urban areas. With increasing urbanization, there has been a change in lifestyle conditions along with the modification of the dietary patterns of people. Moreover, the amount of the arable land which is required for the cultivation of crops in order to feed the present and growing population base is declining on account of rapid expansion of urban cities and industrialization. This has eventually led to an increasing demand for sustainable farming techniques as the climatic conditions have changed drastically.
Arable Land (% of Land Area), 2000-2016, India,
Source: The World Bank Group
The figure above represents the arable land (% of land area) in India and Japan from the year 2000 to 2016 which states that in India it reached 52.625% by 2016 from 54.127% in 2000. Similalry, in Japan it reached 11.477% by 2016 from 12.274% in 2000 (Source: The World Bank Group).
The Growing Culture of Organic Farming
The market for silicon fertilizers is also poised to show growth on account of the constant increase in the organic farming culture especially in the developed regions around the globe such as North America and Europe among others. As the demand for sustainably grown food is increasing the farmers are also moving towards organic farming techniques, which is positively impacting the demand for silicon fertilizers as silicon is a natural element. As per the statistics from the IFOAM Organics International Statistics, in 2017 around 69.8 million hectares of land were organically managed and it increased to 71.5 million hectares by the end of 2018, also around 2.8 million organic farmers were reported for the same period as well. Thus, growing popularity of organic farming among farmers is another factor that is also augmenting the demand for silicon fertilizers, thus positively bolstering the growth of silicon fertilizer market during the forecast period.
The global silicon fertilizer market has been classified as product type, crop type, form, and geography. The segmentation of the global silicon fertilizer market by product type has been done as calcium silicate, potassium silicate, sodium silicate, and precipitated silicate. On the basis of crop type, the market has been segmented into turf grasses, horticultural crops, and field crops. By form, the market has been classified into solid and liquid. By geography, the global silicon fertilizer market has been segmented into major regional markets- North America, South America, Europe, Middle East and Africa, and Asia Pacific.
By crop type, the field crop segment is anticipated to hold a substantial market share throughout the forecast period due to the constantly growing demand for organic food and the growing organic farming culture in the major developed economies of the world.
Geographically, the North American region and European regions are anticipated to hold a substantial share in the market over the course of the next five years. The major factors that supplement the market growth in these regions include the constantly growing demand for organic food on account of the presence of a considerably large proportion of the health-savvy population. Furthermore, growing sustainable farming practices in many countries of the European region is also providing an impetus for the market to surge in the next five years.
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