Market Research Report
The seed coating materials market is projected to grow at a CAGR between 7.0% to 8.0% from 2019 to 2024. The market is majorly driven by increasing importance to the quality and appearance of the seed giving higher commercial value to the seeds. Along with this, the functional properties of seed coating materials to increase the nutritive value of the seeds resulting into higher crop yield is also triggering the demand for seed coating materials. Innovation in farming techniques and conventional farming practices is also diving the market for seed coating materials, as the leading companies are investing huge sums of money in R&D and introducing innovative products with better results and high effectiveness.
The seed coating materials market is studied based on its types, crop types and region. Among the types of seed coating materials, polymers held the largest market share in 2016, followed by pellets and colorants. The widely used polymers are majorly of two types: polymer gels and superabsorbent polymers and have low vicious range which helps better seed germination. Thus the use of polymers is highly done in the seed coating materials.
The crop types considered in the seed coating materials market are cereals & grains, oilseed & pulses fruits & vegetables, flowers & ornamentals and others. The cereals & grains segment dominated the market in 2016 followed by fruits & vegetables and oilseed & pulses.
The seed coating materials market is studied for North America, Europe, Latin America, Asia-Pacific ad RoW that includes South Africa, the Middle East, and others. North America dominated the market with the largest market share followed by Europe and Asia-Pacific. U.S. and Canada have the largest market share in the country-level market in North America region. Increasing awareness about the benefits of coated seeds and increasing demand of coated seeds from the organic cultivators is driving the seed coating materials market in the North American region.
Enhanced appearance increasing the commercial value of seeds as well as high nutritive value added to seeds have made the seed coating material market very lucrative to the multinational players. Thus, many chemical companies are entering into this market. The leading players in this industry include BASF SE, Bayer Cropscience AG, Precision Laboratories, LLC, Germains Seed Technology Inc., Keystone Aniline Corporation, Incotec Group BV, Clariant AG, Croda International PLC, Platform Specialty Products Corporation among others. These companies have established their position in the market by offering competent seed coating material products. Along with this, they are making their presence strong in the market though strategies such as mergers, acquisitions, joint ventures and collaborations.
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