- Insecticide resistance and disease resistance, have encouraged high adoption among farmers towards the use of coated seeds.
- Certified seed coating materials are more reliable and contribute toward more profits.
- Among seed coating types, the polymers segment is dominating.
The prime method to enhance seed performance is the addition of synthetic chemicals to protect the seeds from pathogens. The Seed Coating Materials Market is expected to garner a revenue of $2 billion by 2024, with a CAGR of approximately 7.2% during the forecast period, 2019–2024.
Seed coating materials are gaining attraction among seed manufacturers to produce high-quality seeds. Additionally, increasing demand for agricultural products in the growing population spurs market growth. The associated benefits, such as insecticide resistance and disease resistance, have encouraged high adoption among farmers towards the use of coated seeds.
Certified seed coating materials are more reliable and contribute toward more profits. The main notion of seed coating materials is to decrease the cost & quantity of inputs required to grow the crop and modify basic agronomic properties. However, heavy expenses incurred during the seed coating process, and stringent government guidelines on the use of Seed Coating Materials are a major challenge to this market.
Crops produced from coated seeds are largely beneficial for primary producers owing to important agronomic characteristics such as controlled germination, herbicide tolerance, pest & disease resistance, and insect resistance. Coated seeds using polymers and other coating materials have shown a huge acceptance among farmers owing to growing awareness and benefits associated with the use of coated seeds. Seed coating materials are gaining popularity in the seed industry due to various associated benefits, which is likely to benefit the global seed coating materials market.
The seed coating materials market is segmented into type and crop type. Based on type, it is segmented into polymers, colorants, binders, and others. Among all, the polymers segment is dominating. The significant reason for this growth is its wide range of use owing to their functional qualities and nutritive value.
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Based on crop type, it is segmented into fruits & vegetables, cereals & grains, pulses & oilseeds, and others. Among all, the cereals & grains segment is dominating the market.
The major players in seed coating materials market are BASF SE (Germany), Incotec Group BV (the Netherlands), Clariant International AG (Switzerland), Bayer CropScience AG (Germany), Chromatech Inc. (U.S.), Keystone Aniline Corporation (U.S.), Precision Laboratories Inc. (U.S.), Brett-Young Seeds Ltd. (Canada), Germains Seed Technology Inc. (U.S.), and Croda International Plc. (U.K).
The global seed coating materials market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the seed coating materials market. This is attributed to the increasing consumption of seed coating materials due to the increasing population and demand for new and enhanced agricultural products. Additionally, the major key players are actively involved in research & developments to develop products conforming to North American regulations for seed coating materials.
Furthermore, in the Asia Pacific region, India accounts for a major market share owing to increasing demand for fruit & vegetable crops to meet up with the increasing demands from consumers.