ID: MRFR/AGR/4046-HCR | February 2021 | Region: Global | 110 pages
Seed Coating Materials Market is expected to garner a revenue of USD 2 billion by 2024, with a CAGR of approximately 7.2% during the forecast period, 2019–2024. 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 global 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 global seed coating materials market has been segmented based on type, crop type, and region. By type, the global seed coating materials market has been classified as polymers, colorants, binders, and others. By crop type, the global seed coating materials market has been classified as cereals & grains, pulses & oilseeds, fruits & vegetables, and others. The global seed coating materials market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North America seed coating materials 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 seed coating materials market in Asia-Pacific has been segmented into China, India, Japan, Australia & New Zealand, and the rest of Asia-Pacific. The seed coating materials market in the rest of the world has been segmented into South America, the Middle East, and Africa.
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 market.
Regional Market Summary
North America dominated the global seed coating materials market in 2018 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 seed coating materials 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.
Global Seed Coating Materials Market, by Type
Frequently Asked Questions (FAQ) :
seed coating market is projected to grow at approximately 7.2% CAGR during the assessment period (2019-2024).
seed coating market is estimated to reach a valuation of approx. USD 2BN by the end of 2024.
Increasing commercialization & acceptance of genetically modified seeds and the rising focus on R&D activities to develop natural & organic coating materials, are major tailwinds pushing the growth of 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.
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.