The seed coating materials market is estimated to be worth $993.84 million in 2014 and is projected to reach $1,426.78 million by 2019, growing at a CAGR of 7.5% from 2014 to 2019. The market is growing steadily due to increasing importance of seed technology.
Key participants in the global seed coating materials market include Bayer (Germany), BASF (Germany), Croda International (Switzerland), Clariant International (U.K.), and Chemtura AgroSolutions (U.S.). The global market is witnessing rapid developments in the areas of product innovation and new technologies, with a focus to achieve precision in the performance of seeds. Leading manufacturers are focusing on the expansion of their seed coating material business through acquisitions and agreements to increase their production and distributional network.
The seed coating materials market is segmented by type, crop type, and geography. By type, the market is segmented into four major categories, namely polymers, colorants, binders, and other additives. By crop type, the market consists of four categories, namely cereals & grains, oilseeds, fruits & vegetables, and other crops such as turf and forage. The cereals & grains segment held the largest market share for seed coating materials followed by the oilseeds segment. North America and Europe are the top-two consumers of seed coating materials and accounted for more than 55% in 2013. The Asia-Pacific region is estimated to be the fastest-growing region in terms of value. Growth is particularly high in emerging countries, such as China, India, and Brazil because of the major contribution of agriculture in the economy and the increase in demand for agriculture production.
The higher efficiency of coated seeds as compared to normal seeds, less impact on the environment, and protecting crops along with promoting growth all collectively drive the demand for the seed coating materials market. The potential of this market attracts leading companies. Companies are focusing on expansion across regions and setting up new plants for increasing production capacity as well as strengthening the product line. The companies are also putting efforts for innovating new products which are eco-friendly, to overcome the restraints.
Scope of the Report
This research report categorizes the global market for seed coating materials on the basis of type, crop type, and geography; projecting revenue and analyzing trends in each of the sub-markets:
- Other additives
By Crop Type
- Cereals & grains
- Fruits & vegetables
- North America
- Latin America