The Global Seed Coating Materials Market is expected to reach US$ 2.48 Billion by 2025, at a CAGR of 8.43% by 2025
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Increasing integration of technologically advanced processes in farming, increasing awareness about advantages of seed treatment among farmers, rapid adoption of good agricultural practices across the globe are some of the factors expected to augment growth of the global seed coating materials market. Some of the major drivers pushing the demand for the same include increasing demand for high performance polymer coatings and increasing trade activities in the field of treated seeds across regions.
Stringent environmental government regulations imposed on chemicals used for coating and growing unorganized market, especially in the polymer coatings is expected to hinder the growth of this market. According to EPA, volatile organic compound regulations have to meet a level of stringency called as Reasonably Available Control Technology, which is defined as lowest level of emissions that can be attained taking into account technical and economic consideration.
Key players are improving their product portfolio to enhance the performance of coatings applied on seeds. For instance, Bayer Group has developed ‘Seed-Growth’ coating technologies to tackles the challenges of germination, sowability, flowability and dust control both in the lab and on the field.
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Key Takeaways of the Market:
• According to Coherent Market Insights study, North America accounted for highest market share in terms of revenue in global seed coating materials market in 2016. The region is expected to maintain its dominance throughout the forecast period due to high presence of seed treatment units and increasing trade activities across the region. According to United States Department of Agriculture (USDA), supply and distribution of oil seeds from the U.S. was 60.28 million metric tons in 2016 and is increased to 62.43 million metric tons in Oct 2017.
• Asia Pacific is projected to be the fastest growing region in global seed coating materials market by witnessing a CAGR of 9.49% throughout the forecast period. In Asia Pacific, emerging economies such as China and India, are expected to witness significant growth in the regional seed coating materials market in the near future. Increasing population in the region is fuelling demand for higher production of agricultural products, which is expected to have positive impact on growth of the market throughout the forecast period.
• Key players are improving their product portfolio to enhance the performance of coatings applied on seeds. For instance, Bayer Group has developed ‘Seed-Growth’ coating technologies to tackles the challenges of germination, sowability, flowability and dust control both in the lab and on the field.