HYDERABAD, India, September 28, 2016 /PRNewswire/ --
Mordor Intelligence announces the release of their report on the seed coating material market. The report titled, "Global Seed Coating Materials Market - Growth, Trends and Forecasts," discusses the current landscape and outlook of the market.
The global seed coating material market is expected to grow at a CAGR of 8.5% during the forecast period 2016-2021. The market, estimated at USD 970.7 million as of 2016, is projected to reach a value of USD 1583.6 million by 2021.
The market of seed coating materials is expected to grow dynamically over the next five years owing to increasing need for disease free and healthy seeds. Emerging countries such as China, India and Brazil lead the market given the high importance of agriculture in their economy and high possibility of agricultural production. Europe and North America are the most mature markets both in terms of consumption and production of seed coating materials. The growing adoption of high quality, hybrid and genetically modified seeds is affecting the demand for seed coating materials.
- By Types
- Other Additives (Pellets, minerals/ pumice)
- By Application
- Cereals & grains
- Fruits & vegetables
- By Geography
- North America
- South America
Portfolio expansion is an interesting and active strategy among seed coating organizations. Nearly 33% of the seed coating organizations are expanding their markets. Acquisition is the second most adopted strategy, followed by new product launches. Due to high costs involved in development, major companies are in agreements with their competitors.
Some of the major players profiled in the report include: Bayer CropScience Limited, BASF, Chemtura and Brettyoung.
About Mordor Intelligence:
Mordor Intelligence is a global market research and consulting firm. Our focus is to provide research insights to facilitate business success. Our research expertise covers niche segments under Agriculture, Healthcare, ICT, Chemicals, Manufacturing, Logistics, Electronics and Automotive, among others. We believe in data, and we provide solutions through it. Optimum solutions and goal-oriented strategies define our endeavors and make us the preferred choice for clients.
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SOURCE Mordor Intelligence