Seed coating is a process in which seeds are directly coated with various material such as fertilizers, repulsive agents, crop protection chemicals plant growth regulators and others, which offers both aesthetic and environmental benefits. The primary goal of seed coating material is rapid multiplication and timely supply of crop at reasonable price. Other benefits associated with seed coating material include high yield per hectare, low seeding rate, multicomponent product and others, which are driving the demand for seed coating material across the globe. This growth is especially observed in the developing regions, where agriculture is the prime contributor to the overall economy.
Seed Coating Material Market Segmentation
Seed coating material market is segmented on the basis of type which includes, colorants, binders, polymers and other additives. Among all the above segments polymer is expected to account for the major share in terms of revenue contribution in seed coating material market during the forecast period. Higher efficiency to improve plant ability and durability of seeds is expected to support the growth of polymer seed coating material during the forecast period. Apart from polymer, binders are also expected to show a substantial growth in next five to six years. Many different compounds are used in binders which includes various starches, sugars, cellulose, vinyl polymers, clay, gum arabic, and others. However, binder concentration is critical as too much binding delays germination, while too little binding can cause chipping and cracking of pellets in the planter box. This causes skips or wide gaps in the plant rows.
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Seed coating material market is also segmented on the basis of crop type which includes fruits & vegetables, cereals & grains, oilseeds, and others. Among all these product type cereals and grains is expected to account for the highest market share as compared to other segments. High consumption of cereal and grains across the globe has generated the requirement of the increased volume of the crop production is expected to contribute to the growth of seed coating material market in the near future. Moreover, oilseed segment is expected to register a healthy growth during the forecast period.
On the basis of region, the seed coating material market segmentation includes North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa. North America is expected to be dominant in terms of revenue contribution in seed coating material market followed by Europe. Increased consumption of packaged food and beverages with health benefits in North America is expected to support the demand for seed coating material among food products across the region. While, among all the countries in the European region United Kingdom is expected to account for major market share during the forecast period. Moreover in developing region of Asia Pacific. China and India are the prominent countries in terms of the production of agricultural crops contributing to significant share for seed coating market in Asia Pacific region. Moreover, in Latin America Brazil is expected to show a healthy growth over next five to six years.
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Seed Coating Material Market Drivers & Restraints
Growing population across the globe has generated the requirement for the production of increased agricultural crops, which is expected to fuel the demand of seed coating material market over the forecast period. Moreover, to have less impact on the environment and protecting crops, the seed coating market is expected to flourish in the near future. However, limited usage such as higher dependency on seed surface, compatibility with active ingredient and/or dye, and application temperature may hinder its growth during the forecast period.
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Seed Coating Material Market Key Players
Some of the key international players in seed coating ingredient market includes Bayer Cropscience AG, Clariant International, Precision Laboratories, LLC, Chemtura Corporation, Incotec Group Bv, BASF SE and Chromatech Incorporated among others.