Socioeconomic Benefits of Seed Coatings to Boost Market Growth
Ranging from coatings and pelleting, seed coating ingredients are increasingly being used in the agriculture sector as an effective technique to repel pathogens, pests, insects, etc. While the ban on the use of arsenic was a major development within the seed coating ingredients market, recent development activities have picked up considerable pace over the past few years. Research activities within the seed coating ingredients market are predominantly aimed toward refining existing seed coating treatment technologies and are paving the way for new technologies, including fluid drilling. In addition, another major advancement within the market for seed coating ingredients that is likely to gain traction during the forecast period is solid matrix priming (SMP), which is expected to accelerate efficient germination of seeds.
At present, biological and physical seed coating treatments are increasingly being used as an alternative treatment over chemicals worldwide. Environment safety and socio-economic benefits offered by seed coating treatment are likely to increase the demand for the same in the upcoming years due to which, the market for seed coating ingredients is expected to witness consistent growth. At present, significant efforts are being made to increase the awareness levels pertaining to seed coating ingredients at the grass-root level to improve the adoption of new technologies. At the back of these factors, along with the high demand for sustainable agriculture, the global seed coating ingredients market is expected to attain a market value of ~US$ 3 Bn by the end of 2029.
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Demand for Biological Seed Coating Ingredients on Rise
Over the past decade, the demand for biological seed coating ingredients has witnessed considerable growth– a trend that is expected to continue during the forecast period. The development of biological seed coating ingredients has gained notable pace, as companies are increasingly capitalizing on the relatively easy registration process at the Environment Protection Agency (EPA). The demand for biological seed coating ingredients is on the rise, as it plays a key role in protecting the quality and yield by reducing crop loss. Biological seed coating ingredients reduce biotic stress, enhance crop resilience against abiotic stress, salinity stress, and also increase the uptake of nutrients in plants. Some of the leading factors that are likely to boost the demand for biological seed coating ingredients include improvement in crop yield, availability of plant nutrients in roots, and decline in the usage of agrochemicals. Within the agriculture sector, the use of biological seed coating ingredients is on the rise, as biological control of bacteria continues to remain a primary area of concern. Although biological seed coating ingredients are more prone to environmental stresses such as humidity, temperature, and ultraviolet radiation, the demand for the same is increasing.
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Polymers or bio-polymer seed coating ingredients are projected to dominate the global market during the forecast period. Significant advancements in the polymer technology and seed coating ingredients market are expected to propel the demand for polymers and biopolymer seed coatings ingredients in the coming decade. In addition, as research and development activities continue to gain momentum, new seed enhancement technologies aimed at maximizing seed performance crop yield are gaining significant popularity. Companies operating in the current seed coating ingredients market are increasingly focusing on encrusting without impacting the size and shape of seeds to ensure efficient handling and planting.
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Some of the leading players operating in the current market landscape are increasingly investing resources in research and development activities to provide tailor-made solutions to their end-users. Polymers are increasingly being used as seed coating ingredients as polymers minimize abrasion and dust, and improve flowability and the overall plant ability of seeds.
COVID-19 Pandemic to Affect Services and Production; Market Players Likely to Increase Cleaning and Sanitization Measures
The COVID-19 pandemic is expected to have a strong impact on the growth prospects of the seed coating ingredients market, particularly in the first half of the forecast period. Production cycles and transportation of goods are expected to take a backseat, as government bodies across the world are imposing lockdowns as a preventive measure to curb the novel coronavirus. Companies operating in the current market landscape are expected to adhere to the guidelines laid down by local authorities. Market players in the seed coating treatment market are anticipated to seek solutions to address the supply chain challenges. In addition, stringent sanitization and cleaning measures are likely to be implemented. Companies are expected to improve their contingency strategies and focus on forging new partnerships with domestic market players to expand sales and market presence.
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Analysts’ Viewpoint
The global seed coating ingredients market is expected to grow at a healthy CAGR of ~8% during the forecast period. The market growth can be attributed to rising emphasis on sustainable agriculture, benefits offered by seed coating technologies, surge in the number of research and development activities, and increase in the adoption of polymer-based seed coating ingredients. Market players are expected to focus on research and development activities to launch innovative, eco-friendly, and cost-effective solutions. Amidst the COVID-19 health pandemic, the seed coating ingredients market players are expected to focus on their contingency plans and streamline their supply chain in the upcoming months.
Seed Coating Ingredients Market: Overview
- The global seed coating ingredients market value stood at ~US$ 1 Bn in 2019, finds Transparency Market Research (TMR) in a recent study. According to the report, the seed coating ingredients market is anticipated to reach ~US$ 3 Bn by 2029, at a CAGR of ~8%.
- Seed coating ingredients have various applications. Seed coating ingredients are used in various combinations across diverse applications. For instance, seed coating products are used for flowability but at the same time, they contain insecticides and pesticides. Chemicals used as insecticides and pesticides cannot increase the flowability of the seeds. For flowability, polyethylene wax could be used as an ingredient. These innovative combinations are being researched by companies and increased interest is being observed for the use of bio-based ingredients. This has increased the opportunity and consumer interest in seed coating ingredients to explore more ingredients that could fulfill the requirement of a seed coating product.
- At present, due to COVID-19, the world is facing economic crisis. Lockdown enforced across the globe is hampering the production capacity of seed coating ingredients. In the near future, world can face shortage of seed coating ingredients due to the limited production.
Seed Coating Ingredients: Market Frontrunners
- In terms of ingredient type, polymers seed coating ingredients emerged as the leading segment in 2019 and accounted for approximately 81% of the market. Furthermore, the biologicals seed coating ingredients segment accounted for 9% of the market in terms of value.
- Liquid was the leading form type segment of seed coated ingredients with market share of 57.9% in 2019 and the powder seed coating ingredients had a market share 42.1% in terms of value
- In terms of coating type, encrust seed coating ingredients emerged as the leading segment in 2019, accounting for approximately 76% market share. Furthermore, the film segment accounted for 33% of the market in terms of value.
- Latin America leads the global seed coating ingredients market followed by North America, and Europe. The Latin America market is expected to continue leading the global seed coating ingredients market. By the end of 2029, it is expected to hold nearly ~23% of the overall market.
Seed Coating Ingredients Market: Trends
- The adoption of bio-control seed coating ingredients is increasing. The bio-based seed coating ingredients is due to the recent technological advancements. This has been adopted by the seed manufacturing companies as well as the farmers as the concern for environmental conditions has increased among the people.
- Rising demand for food is leading to the use of seed coating ingredients for protection of seeds and reduction of spoilage. With the global population set to reach 9.7 billion by 2050, the demand for food is expected to rise in the upcoming years. The rising demand for food at a global level has led agronomists to come up with a solution to save available grains and increase production at the same time. This has resulted in various new technologies and advancements in this field, such as seed treatment. People have been aware of the use of various ingredients to protect seeds from spoilage and improve their growing conditions.
- However, recent technological advancements have transformed the seed treatment process. Every company is developing a new combination of seed coating ingredients to develop a new and innovative product, and they have a complete R&D facility dedicated to it. The overall agricultural production is expected to grow in the upcoming years due to the rising demand.
- High value and industrial crops are high in demand as their use in the global market is high and its wastage is kept to minimal. Its end uses are also extensive thus rising their demand in the market. Also, the seed coatings ingredients are being mainly used for these products.
Expansion of Seed Coating Technologies to Wild Species to Increase Demand for Seed Coating Ingredients
- The use of seed coating products is seen mostly in crops, fruits, and vegetables. This is due to the high value of economic crops than that of other seeds such as seeds of turf grass, pasture, and flowers. The application of seed coatings to native species for ecological restoration has received little attention. However, it is expected that in the upcoming years, the demand for seed coating ingredients will increase. On the commercial scale, the main focus is on economical seeds, but there is a lot of research going on for the use of seed coating ingredients for wild species in academics sector.
Seed Coating Ingredients Market: Strategies
- Key players operating in the global seed coating ingredients market are focusing on acquisition, mergers, and joint venture to increase the business footprints globally as well as to strengthen the distribution channel
- Multinational companies of seed coating ingredients are focusing on acquiring small scale companies to increase their product portfolio and production capacity
- Most of the key players in the global seed coating ingredients market are multinational players that are investing highly in the research and development of seed coating ingredients and its use in the seed coatings
Target Region for Market
- In terms of value, countries in Latin America are likely to represent the largest share in the market, and are expected to remain strong in the forecast period. Major players starting their production units in South Asia as well as multiple new players are increasing in South Asia due to which South Asia is expected to grow rapidly with the CAGR ~9% during the forecast period.
Seed Coating Ingredients Market: Players
- Key players operating in seed coating ingredients market, as profiled in the study, include
- ADAMA Agricultural Solutions
- Bayer AG
- United Phosphorus Ltd.
- BASF SE
- FMC Corporation,
- E.I. DuPont Nemours and Company
- Koninklijke DSM N.V.
- Sumitomo Chemical Co. Ltd
- FMC Corporation,
