ID: MRFR/AGR/4046-HCR | 110 Pages | Author: Sakshi Gupta | June 2023
Seed Coating Materials Market garner a revenue of USD 3.9 Billion by 2030, with a CAGR of approximately 7.85% during the forecast period, 2022–2030. Adoption of advanced farming technologies is amongst the major factors responsible for the surging demand for coated seeds. Coated seeds offer increased performance as compared to uncoated seeds, thus gaining demand in the global agriculture industry. Owing to these determinants, the seed coating materials market is expected to register an impressive growth rate during the forecast period. However, the implementation of stringent government regulations regarding coated seeds, especially in Europe, is hampering market growth. Market players are witnessing several challenges in their growth, such as the lack of awareness among farmers of the developing nations, regarding the benefits of coated seeds, and increasing commercialization and acceptance of genetically modified seeds. To overcome these challenges, market players are focusing on their R&D activities to launch natural and organic seed coating materials. Additionally, manufacturers of seed coating materials are also focusing on expansion, mergers & acquisitions, and partnerships to strive in such a competitive market.
The market has been segmented based on type, crop type, and region. By type, the market has been classified as polymers, colorants, binders, and others. By crop type, the global market has been classified as cereals & grains, pulses & oilseeds, fruits & vegetables, and others. The global market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North America market has further been segmented into the US, Canada, and Mexico. The Europe seed coating materials market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The market in Asia-Pacific has been segmented into China, India, Japan, Australia & New Zealand, and the rest of Asia-Pacific. The seed coating materials industry in the rest of the world has been segmented into South America, the Middle East, and Africa.
Key Players
BASF SE (Germany), Element Solutions Inc (US), Incotec Group BV (Netherlands), Clariant International AG (Switzerland), Bayer (Germany), Chromatech Inc. (US), Keystone Aniline Corporation (US), Precision Laboratories Inc. (US), Brett-Young Seeds Ltd. (Canada), Germains Seed Technology, Inc. (US), and Croda International Plc. (UK) are some of the key players in the global seed coating materials industry.
North America dominated the global seed coating materials market in 2021 and is expected to maintain its dominance throughout the forecast period. The region’s dominance can be attributed to the high awareness level among farmers regarding the benefits of seed coating materials. Moreover, the presence of several prominent market players in the US is also catalyzing the growth of the regional market. However, the Asia-Pacific market is expected to register the highest CAGR due to the increasing investment by major players in the regional market. China, India, and Japan are the prominent country-level markets contributing to the growth of the market in Asia-Pacific.
Report Attribute/Metric | Details |
---|---|
Market Size | USD 3.9 Billion |
CAGR | 7.85% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Crop Type, and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | BASF SE (Germany), Element Solutions Inc (US), Incotec Group BV (Netherlands), Clariant International AG (Switzerland), Bayer (Germany), Chromatech Inc. (US), Keystone Aniline Corporation (US), Precision Laboratories Inc. (US), Brett-Young Seeds Ltd. (Canada), Germains Seed Technology, Inc. (US), and Croda International Plc. (UK) |
Key Market Opportunities | Adoption of advanced farming technologies |
Key Market Drivers | Develop natural & organic coating materials |
Seed coating market is projected to grow at approximately 7.85% CAGR during the assessment period (2022-2030).
Seed coating market is estimated to reach a valuation of approx. USD 3.9 BN by the end of 2030.
BASF SE (Germany), Incotec Group BV (Netherlands), Element Solutions Inc. (US), Clariant International AG (Switzerland), Chromatech Inc. (US), Bayer (Germany), Keystone Aniline Corporation (US), Brett-Young Seeds Ltd. (Canada), Precision Laboratories Inc. (US), Croda International Plc. (UK), and Germains Seed Technology, Inc. (US), are some of the top players operating in the global seed coating market.
North America holds the largest share in the global seed coating market, followed by Europe and the Asia Pacific, respectively.
Key Questions Answered
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