Global Seed Coating Materials Market was valued at US$ 1760.0 million in 2021, According to the global seed coating materials Market Report, by Crop Type (Fruits & Vegetables, Cereals & Grains, Flowers & Ornaments, Oil Seeds, Others), by Product Type (Polymers, Colorants, Binders, Minerals/Pumice, Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights
Global seed coating materials market was valued at US$ 1760.0 Million in 2021. Seed coating materials market is expected to register a CAGR of 6.92 % over the forecast period (2022–2030), to reach US$ 3215.0 Million by 2030.
Increasing integration of technologically advanced processes in farming, increasing awareness about advantages of seed treatment among farmers, rapid adoption of good agricultural practices across the globe are some of the factors expected to augment growth of the global seed coating materials market. Some of the major drivers pushing the demand for the same include increasing demand for high performance polymer coatings and increasing trade activities in the field of treated seeds across regions. Stringent environmental government regulations imposed on chemicals used for coating and growing unorganized market, especially in the polymer coatings is expected to hinder the growth of this market. According to Environmental Protection Agency, volatile organic compound regulations have to meet a level of stringency called as Reasonably Available Control Technology, which is defined as lowest level of emissions that can be attained taking into account technical and economic consideration.
The COVID-19 pandemic adversely affected many economies globally. The lockdowns and quarantine restrictions imposed to curb the spread of the SARS-CoV-2 virus negatively impacted many industries, including agriculture and crop protection. In the initial days of the outbreak, disrupted logistics and transportation impacted the movement of agrochemicals. Thus, the seed coating materials market registered a decline in sales in the first quarter of 2020. In addition to the interruptions in the industry's value chain from raw materials supply to manufacturing, packaging, and distribution, the COVID-19 pandemic also led to restrictions on the movement of workers, a decline in demand from farmers, and the closure of seed production facilities. The industry suffered severe labor shortages due to repeated lockdowns, affecting production. The decline in revenues during the initial months of 2020, coupled with reductions in demand from major markets, impacted the profitability of seed treatment manufacturers and vendors.
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https://www.coherentmarketinsights.com/market-insight/seed-coating-materials-market-965
Browse 50 market data tables* and 40 figures* on "Global Seed Coating Materials Market” - Forecast to 2030.
Key Trends and Analysis of the Global Seed Coating Materials Market:
- Among crop type, cereals & grains segment accounted for highest market share of 40.00% in 2021, owing to increase in consumption of cereals & grains in daily diet. This factor is expected to boost growth of the segment in the global seed coating materials market over the forecast period.
- Development of appropriate and consistent applications of specific and new materials onto seeds is crucial to the success of the seed coating materials market. Use of active chemicals as a seed coating allows for more accurate application, reducing the need to spray products across entire fields. Adoption of novel seed technologies, innovative farming practices, and the necessity for low-risk investments in the farming industry are all driving the global seed coating materials market.
Key Takeaways of the Global Seed Coating Materials Market:
- According to Coherent Market Insights in 2021, among regions, North America dominated the global seed coating materials market with a market share of 34% in 2021. Demand in the North American market is led by countries such as the U.S., Canada, and Mexico. The U.S. is the largest market for seed coatings in North America due to supportive regulations like the compulsory coloring of treated seeds coupled with growing demand for yield. Increasing farm size and decreasing crop rotation coupled with the rising awareness of bioproducts are the major factors driving the demand for seed coating materials in the country.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the seed coating materials are key strategies adopted by players in the global seed coating materials market. For instance, in March 2022, Syngenta, a provider of agricultural science and technology, in particular seeds and pesticides extended its Seedcare portfolio by adding CruiserMaxx APX. The new product is going to provide protection against diseases including Phytophthora and Pythium.
