Silicon Fertilizers Market to Reach $125.8 Million by 2025: Liquid Silicon Fertilizers to Manifest Fastest Growth
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Increased demand for wheat and rice crops coupled with benefits offered by silicon on crop field have boosted the growth of the global silicon fertilizers market. In addition, adoption of modern farming technologies and low cost of silicon fertilizers have supplemented the market growth. However, volatile prices, and availability of raw material prices hamper the growth of the market. On the contrary, burgeoning demand for field and horticultural crops across different regions is expected to provide lucrative opportunities for the market players.
Calcium silicate: lucrative segment through 2025
The calcium silicate segment accounted for about 60% of the total market in 2017 and is expected to maintain this trend through 2025, registering the fastest CAGR of 4.3% during the forecast period. This is attributed to the characteristics of calcium silicate-based fertilizers such as reducing pH and increasing adsorption of essential minerals from the soil. In addition, other segments, which include potassium silicate and sodium silicate would manifest steady growth during the forecast period.
Liquid silicon fertilizers to manifest the fastest growth
Liquid silicon fertilizer segment is expected to grow at the fastest CAGR of 4.6% from 2018 to 2025, as liquid-based fertilizers are ideal for fighting against several diseases such as powdery mildew, septoria, eye-spot, and insect pests. However, the solid silicon fertilizer segment is expected to hold about two-thirds share of the total market revenue through 2025.
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Leading players in the market
The key market players analyzed in the report include Plant Tuff, Denka Company Limited, Fertipower Norway AS, Fubang Fertilizer, Goodearth Resources PTE LTD., Ignimbrite Minerals, Inc., Agripower, Fuji Silysia Chem, Greenfire Agri, and MaxSil. These companies have adopted strategies such as product launches, acquisitions, and collaborations to expand their business.
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