NEW YORK, June 9, 2016 /PRNewswire/ --"Seed coating materials market projected to grow at a CAGR of 7.6%"
The seed coating materials market is projected to reach a value of USD 1.63 billion by 2020, growing at a CAGR of 7.6% from 2015 to 2020. The market is further driven by factors such as increasing demand of coated seeds by advanced agricultural technologies, growing awareness among the farmers about the commercial utilization of seeds, and increasing need of seed treatment, leading to an increased agricultural output. The high growth potential in emerging markets in the agriculture business and untapped regions such as Asia-Pacific, Middle-East, and Africa provides new growth opportunities for market players.
"Polymers accounted for the largest market share in 2014 among all the types used as seed coating materials"
Among the types of seed coating materials such as polymers, colorants, pellets, minerals/pumice, & others, polymers accounted for the largest market share, followed by pellets and colorants. Polymers are used on a large scale due to their functional qualities which benefit the germination of seeds and enhance the seed performance leading to higher crop yield.
"Cereals & Grains segment led the market with the largest share in 2014"
On the basis of crop type, the seed coating materials market is led by the cereals & grains segment, followed by the fruits & vegetables and flowers & ornamentals segments. The demand for cereals and grains is continuously rising as it is an important part of the daily meal of growing population. This has led to growing usage of seed coating materials on the seeds of cereals & grains, eventually enhancing the agricultural output.
"North America dominated the market with the largest share"
North America formed the largest market for seed coating materials in 2014 and is projected to grow at the highest CAGR from 2015 to 2020, whereas Europe accounted for the second-largest market in 2015, in terms of value. The global seed coating materials market is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia-Pacific, Latin America, and Rest of the World (RoW). The seed coating materials are becoming popular with seed manufacturers in the developing regions of Asia-Pacific and Latin America, mainly due to the rising demand for treated seeds by the farmers, as a result of increasing awareness about the benefits of treated seeds.
Breakdown of profile of primary participants
- By Company Type: Tier 1 – 50 %, Tier 2 – 30%, and Tier 3 – 20%
- By Designation: C level – 28%, Director level – 22%, Others – 50%
- By Region: North America - 40%, Europe – 20%, Asia-Pacific – 30%, RoW – 10%
Key players identified in the seed coating materials market include BASF SE (Germany), Bayer CropScience AG (Germany), Clariant AG (Switzerland), Croda International PLC (U.K.), and Platform Specialty Products Corporation (U.S.). Along with these companies, other players having a strong presence in the global seed coating materials market include BrettYoung Seeds Limited (Canada), INCOTEC Group BV (The Netherlands), Keystone Aniline Corporation (U.S.), Precision Laboratories, LLC (U.S.), and Germains Seed Technology, Inc. (U.K.).
Reasons to buy this report:
- To get a comprehensive overview of the global seed coating materials market
- To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the seed coating materials market is flourishing
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