North America dominates the seed coating materials market with a largest market share in 2016, followed by Europe and Asia-Pacific. However in terms of volume, Asia-Pacific is the fastest growing market for the seed coating materials growing at CAGR of 8.11% from 2017 to 2022.
New York, Oct, 27, 2016: Axiom MRC added a new report on global seed coating materials market. The global market for the seed coating materials is valued at USD 1.6 billion in 2016 and is projected to grow at a CAGR of 7.48% from 2017 to 2022. The market was studied for its types such as Polymers, Pallets, Colorants, Minerals and Pumice Powder. The major crop types considered in the study were Cereals & Grains, Oilseeds & Pulses, Flowers & Ornamentals, Fruits & Vegetables and Others. The major regions considered in the study are North America, Europe, Asia-Pacific, Latin America and Rest of the world countries which majorly include Middle-East and Africa.
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Major Drivers and Restraints of the market
The market is driven by the increasing importance given to the quality and appearance of the seeds, giving it a higher commercial value. Innovation in farming techniques and conventional farming practices are also driving the market for seed coating materials. Leading companies are investing huge sums of money in R&D and are introducing new and innovative products with better results and high effectiveness. This is a result of increasing demand for high quality seeds from the farmers. Along with this, the functional properties of seed coating materials to increase the nutritive value of the seeds is also resulting in higher crop yield, triggering the demand for seed coating materials. The market growth is restrained mainly due to heavy government regulations on Colorants Polymers and Pelleting along with the threats from GM crops.
Polymers segment accounts for the largest market share
Among the types of seed coating materials such as Polymers, Pellets, Colorants, Minerals, Pumice Powder and Others; Polymers held the largest market share in 2015, followed by Pellets and Colorants. The widely used Polymers have low malicious array which helps better seed germination.
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Oilseeds and Pulses projected to be the fastest growing market
The crop types considered in the seed coating materials market are Cereals & Grains, Oilseed & Pulses, Fruits & Vegetables, Flowers & Ornamentals and Others. The Cereals & Grains segment dominated the market in 2016 followed by Fruits & Vegetables and Oilseed & Pulses. The market for oilseeds & pulses is projected to be the fastest growing market due to increasing demand for coated seeds among the farmers.
Rising demand, growing advancement in farming techniques and high awareness about the benefits of seed coating materials among the farmers led to the growth of North American region.
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. The leading players in this industry include Allied Seed Llc, BASF SE, Bayer CropScience AG, Brettyoung Seeds Ltd., Canadian Seed Coaters, Centor Group, Clariant AG, Croda International PLC, Germains Seed Technology Inc., Incotec Group BV, Keystone Aniline Corp, Monsanto Company, Platform Specialty Products Corp, Precision Laboratories LLC, Precision Seed Coaters, Syngenta AG among others. These companies have established their position in the market by offering competent seed coating material products.
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