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.
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Polymers held the largest market share in 2017, 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 cereals & grains segment dominated the market in 2017 followed by fruits & vegetables and oilseed & pulses.
North America holds the largest market share:
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.
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Key competitors of seed coating materials market:
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 (acquired by Croda International Plc.), Clariant AG, Croda International PLC, Platform Specialty Products Corporation among others.
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