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Pharmacy benefit management market
SILICON FERTILIZER MARKET REPORT OVERVIEW
global silicon fertilizer market size was USD 109.55 million in 20221 and market is projected to touch USD 170.03 million by 2032 at CAGR 4.08% during the forecast period.
Silicon-based fertilizer is a kind of slow-release fertilizer. It can be used in various crops and soil to improve their physical and chemical properties. Silicon fertilizer can increase the yield, quality, and stability of crops. The silicon content in the crop will promote photosynthesis, reduce lodging (falling over), improve stress tolerance, increase resistance to diseases and pests, and improve water use efficiency. The growth in the market can be attributed to various factors such as increasing demand for silicon fertilizers from the agriculture sector, growing awareness about the benefits of using silicon fertilizers among farmers, and rising focus on soil health.
COVID-19 Impact: Agriculture Sector Resilience and Poor Economic Conditions Slowed Down the Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The agricultural sector's resilience can influence the demand for fertilizers. While some regions may have faced challenges due to lockdowns and labor shortages, others may have experienced increased demand for agricultural products, potentially driving the need for fertilizers. Economic conditions, both globally and regionally, can impact farmers' purchasing power and their decisions to invest in fertilizers. Economic downturns may lead to reduced spending on agricultural inputs, while economic recovery could stimulate demand. Government policies and support measures can also play a role in shaping the fertilizer market. Subsidies, incentives, and other policy interventions may influence farmers' choices and market dynamics.
LATEST TRENDS
"Growing Interest in Sustainable Agriculture to Revamp the Market Growth"
Various product advancements, such as the widespread use of organic silicon fertilizers in more sustainable and environmentally friendly organic agricultural practices, are fueling market expansion. Sustainable and environmentally friendly agriculture techniques are becoming increasingly important. Silicon fertilizers, noted for their ability to improve plant resilience while reducing the need for chemical inputs, are consistent with sustainable agricultural concepts.
SILICON FERTILIZER MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into water-soluble type, citrate-soluble type and others.
Water-soluble silicate fertilizers are widely utilized in agriculture, horticulture, landscaping, and forestry. It can improve crop and fruit tree quality, increase productivity, improve soil fertility, and reduce crop diseases. Silicate fertilizer is a non-polluting, neutral fertilizer that is free of heavy metals like mercury and lead. It can improve the physical and chemical qualities of soil, increase crop yield, and minimize pollution. A novel form of silicon fertilizer is citrate-soluble. It has a high SiO content (up to 99%), is water soluble, releases slowly, and is non-toxic. All crops, including fruits, vegetables, flowers, tea plantations, rubber trees, and other plants, can benefit from the product. Citric acid is a weak Organic Acid found in citrus fruits like lemons and limes.
- By Application
Based on application the global market can be categorized into paddy, orchard and others.
Plant paddy silicon fertilizer ahead of time to improve soil's physical and chemical qualities. It has the potential to reduce nitrogen loss, increase the quantity of microorganisms, and improve resilience to diseases, pests, and stressors. The usage of silicon fertilizer can help boost paddy output and quality. Silicon fertilizers are commonly used in apple, pear, peach, nectarine, cherry plum, apricot, and grape trees. They can increase photosynthetic efficiency in sunshine, reduce water consumption, postpone leaf senescence, suppress powdery mildew infection, and increase sugar accumulation.
DRIVING FACTORS
"Prominent Nutrient Supply to Plants and Crops to Nurture the Market Growth"
Silicon-based fertilizer lowers soil PH and enhances adsorption of key minerals. It aids the plant in overcoming deficiencies caused by a lack of adequate nutrients in the soil. Furthermore, it improves a plant's mechanical qualities by increasing elasticity and rigidity, and thereby protects plants against infection. This raises the demand for silicon fertilizers even more. Silicon fertilizers are in high demand due to large-scale requirements and strong demand for field crops and horticulture crops in various places.
"Resistance Towards Diseases and Insect Attacks to Build Up the Market Growth"
Silicon-based fertilizers aid in the resistance of diseases and insect attack, as well as the improvement of physical and chemical soil qualities and the retention of nutrients in plants. These are used in crops such as barley, wheat, corn, sugarcane, cucumber, citrus, tomato, and others to boost productivity while also ensuring long-term output. In line with this, the increasing prevalence of plant diseases such as leaf freckling rust and ring spots has increased farmworker adoption of silicon fertilizers to provide resistance against plant insects and unfavorable climatic conditions, thereby propelling market growth. Silicon fertilizers are predicted to be in high demand in the future due to their increasing usage in field crops, hydroponics, and floriculture.
RESTRAINING FACTORS
"Soil pH, Temprature Dependence and Plant Species Variability to Hamstring the Market Growth"
While silicon-based fertilizers provide some advantages for plants, they also have some drawbacks. Soil pH influences silicon uptake by plants. Plants have decreased access to silicon in alkaline soils. Furthermore, the efficiency of silicon fertilizers can be affected by temperature, with lower temperatures potentially decreasing silicon uptake. The efficiency of silicon fertilizers varies depending on the plant species. Some plants seem to respond better to silicon supplementation than others. Crops such as rice and sugarcane often profit significantly, although other crops may not benefit as much. Hence, such factors are expected to hinder the silicon fertilizer market growth during the forecast period.
SILICON FERTILIZER MARKET REGIONAL INSIGHTS
"Asia Pacific to Lead the Market with High Demand for Wheat and Rice Crops and Surge in Population"
Asia Pacific held the largest silicon fertilizer market share of more than quarter in the projected timeframe in terms of value. Silicon fertilizers are widely utilized in China, Japan, India, and others. Silicon fertilizer can boost photosynthetic efficiency under sunlight circumstances, reduce water consumption, postpone leaf senescence, limit powdery mildew infection, and promote sugar accumulation in crops such as apple trees and grapevines. High demand for rice and wheat crops, which are required on a huge scale in various regions, drives the expansion of silicon fertilizers in this region. Several factors are driving demand for the staple food, including an increase in per capita consumption as the global population grows and an increase in demand for high-quality foods.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
Important industry players have a big impact on the market and are crucial in determining customer preferences and market dynamics. These major firms provide consumers easy access to a vast array of clothing alternatives through their huge retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also enhanced consumer trust and loyalty. These industry titans also consistently fund R&D, bringing cutting-edge designs, materials, and clever features to silicon fertilizer to meet changing customer demands and preferences. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.
List of Market Players Profiled
- Plant Tuff (U.S.)
- Fertipower (Norway)
- Multimol Micro Fertilizer (India)
- MaxSil (Australia)
- Fuji Silysia Chem (Japan)
- Denka (Japan)
- Vision Mark Biotech (India)
- Redox (U.S.)
- Fubang Fertilizer (U.S.)
INDUSTRIAL DEVELOPMENT
September 2023: Over the decade to 2021, vegetable field studies in Queensland, Tasmania, and NSW treated with MaxSil's silicon fertiliser demonstrated significant yield, quality outcomes, and total economic benefits. The fertilizer applications also boosted crop resistance to pests and diseases, improving the environmental sustainability of food production.
REPORT COVERAGE
The report includes a thorough SWOT analysis and offers predictions for market growth in the future. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 109.55 Million in 2021 |
Market Size Value By |
US$ 170.03 Million by 2031 |
Growth Rate |
CAGR of 4.08% from 2021 to 2031 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the silicon fertilizer market expected to touch by 2032?
The global silicon fertilizer market is expected to reach USD 170.03 million by 2032.
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What CAGR is the silicon fertilizer market expected to exhibit by 2032?
The silicon fertilizer market is expected to exhibit a CAGR of 4.08% by 2032.
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Which are the driving factors of the silicon fertilizer market?
Prominent nutrient supply to plants and crops and the resistance towards diseases and insect attacks are some of the driving factors of the silicon fertilizer market.
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What are the key silicon fertilizer market segments?
The silicon fertilizer market segmentation that you should be aware of, which include, Based on type the market is classified as water-soluble type, citrate-soluble type and others. Based on application the market is classified as paddy, orchard and others.