Seed Coating Material Market Overview
Seed Coating Material Market - Global Industry Analysis
Seed coating involves the use of materials such as fertilizers, repulsive agents, crop protection chemicals, and many others to directly mask or coat seeds to enhance the growth of plants and prevent them from predators or pests.
Seed coating offers both aesthetic and environmental benefits. Seed coating is carried out mainly to ensure the rapid multiplication and timely supply of crops at a fair price. Other benefits attributed to the utilization of seed coating materials include quality output per hectare, multicomponent products, and many others.
These attributes are the major factors promoting the global seed coating material market. Seed coating material market is projected to witness tremendous growth, especially in developing nations where agriculture contributes mainly to their economy.
In addition, the growing demand for natural food products among consumers is a force driving the demand for seed coating materials across the globe. Growing investments in the agricultural sector, significant advancement in agrarian tools/facilities, and increasing awareness regarding the importance of genetically modified seeds among farmers are strong forces facilitating the surge in demand for seed coating globally. The market is expected to register a healthy CAGR during the forecast period and beyond.
Seed Coating Material Market Driven by Growing Farmers’ Demand for Seed Enhancing Products
Over the years, there is a gap between the demand and supply of agricultural products due to the growing population size of consumers feeding on plant products. In order to reduce the gap between these two economic parameters, there is a need to increase the yield of crops produced globally.
Major challenges faced by farmers that decrease crop yield include seed diseases, volatile environment, and many more. These factors have posed a threat to agricultural products, making it difficult for consumers’ demand to be fulfilled.
However, with the innovation of seed coating materials, the gap between agrarian product demand and supply has been bridged. Seed coating materials are often used to control pests, enhance crop yield, regulate plant growth, and improve the quality of farm products. These attributes are the driving force facilitating the growth of the industry globally.
Seed Coating Material Market Restraint
The global seed coating material market growth is expected to decline during the forecast period due to the government’s stringent regulations on the use of seed coating materials. Abiotic factors like temperature, rainfall and many others are expected to restrain the industry's growth over the forecast period.
Seed Coating Material Market: Region-wise Analysis
Geographically, North America is the largest market for the global seed coating industry. In 2018, the region accounted for about 40.7% of the global market share. The region is slated to remain in dominance over the forecast period.
The United States is the major contributor to the seed coating material market in North America, followed by Canada. Government supportive regulations on the coating of seeds and increasing consumer demand for plant products are major factors promoting the growth of the global seed coating material market in the region.
Furthermore, developing nations like China and India in the Asia Pacific region are prominent countries expected to drive the growth of the seed coating market in the region. Also, Brazil is slated to facilitate the growth of the market in Latin America, with a healthy CAGR expected to be registered.
Seed Coating Material Market: Competitive Landscape
- Bayer Cropscience AG
- Clariant International
- Precision Laboratories LLC
- Chemtura Corporation
- Incotec Group Bv
- BASF SE
- Chromatech Incorporated
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
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Global Seed Coating Material Market Segment Analysis
The global seed coating material market can be segmented on the following basis:
- Grain and Cereal Seed Coating Materials
- Oilseed Seed Coating Materials
- Fruit & Vegetable Seed Coating Materials
- Other Crop Seed Coating Materials
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