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The latest report by IMARC, titled “ Silicon Fertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 20232028
” " the global silicon fertilizer market reached a value of US$ 103.8 Million in 2022.
Silicon fertilizer helps fight diseases and insect attacks, withstand unfavorable climatic conditions, improve physical and chemical soil properties, and maintain nutrients in plants. It is used for numerous crops, such as barley, wheat, sugarcane, cucumber, citrus, tomato, and others, for increased productivity and sustainable production. It finds extensive applications in field crops, hydroponics, and floriculture. It assists in reducing pH and increases the adsorption of essential minerals from the soil. Moreover, it improves the mechanical properties of a plant by enhancing elasticity and rigidity and, thus, protects plants against infection. The increasing requirements and high demand for field and horticultural crops in different regions across the globe favor the requirement for silicon fertilizer.
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The global market is majorly driven by the increasing demand for better quality fertilizers to improve crop productivity. In line with this, the rising adoption of silicon fertilizers amongst farmers to progress the growth of the crop, grow vegetables more organically, and prevent the plants from developing bacterial and fungal diseases is positively influencing the market. Furthermore, silicon fertilizers help enhance the physical and chemical properties of the soil, which is catalyzing the market expansion. Apart from this, the growing demand for quality and uniform crop yield due to population expansion globally is strengthening the market.
Besides, the escalating adoption of new farming methods for improving productivity and increasing demand for horticultural and field crops in developing economies are propelling the product demand. Additionally, significant growth in the agriculture sector and the rising demand for food on the global level are providing a boost to the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 128.7 Million by 2028, exhibiting a CAGR of 3.5% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Breakup by Type:
• Synthetic
• Natural
Breakup by Form:
• Liquid
• Solid
Breakup by Application:
• Field Crops
• Horticultural Crops
• Hydroponics
• Floriculture
Breakup by Region:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
Competitive Landscape with Key Players:
• Agripower Australia Ltd
• Jaipur Bio Fertilizers
• Khandelwal Biofertilizer
• MaxSil Pty Ltd.
• Plant Tuff
• Redox Pty Ltd.
• Satpura Bio Fertiliser India Private Limited
• Sigma AgriScience LLC
• Vedant Agrotech.
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