The global seed treatment chemicals market was valued at around US$ 3,500.0 Mn in 2017 and is anticipated to expand at a CAGR of more than 5.0% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled ‘Seed Treatment Chemicals Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ The global seed treatment chemicals market is driven by the rise in demand for seed treatment chemicals among farmers due to their effective usage in crop protection and yield enhancement. The seed treatment chemicals market in Asia Pacific is expected to expand at a CAGR of around 8.0% during the forecast period. Improvement in seed treatment active ingredients, advancement in farming practices, enhanced plant growth, and improvement in crops’ stress tolerance are factors estimated to drive the global seed treatment chemicals market during the forecast period.
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Increase in Prevalence of Crop Diseases and Pests
Of late, the threat of crop diseases and transboundary plant pests has amplified due to the drastic climatic changes and improper or inappropriate crop protection methods. Seeds and seedlings are vulnerable to several foliar pests and soil-borne diseases. Soil-borne diseases substantially lower the photosynthetic capacity of vegetable plants, thereby hampering the crop yield. Thus, rise in prevalence of soil-borne diseases and pests causes significant yield losses. Seed treatment chemicals are primarily used to ensure uniform crop stand establishment by protecting crops against soil-borne pathogens and insects. Seed treatment chemicals exterminate seed-borne pathogens such as smut, bunt, mycelium, bacteria, and nematodes. Thus, high prevalence of soil-borne diseases and pests is anticipated to boost the demand for seed treatment chemicals. Increase in demand for seed treatment chemicals owing to their characteristics of seed disinfection and seed disinfestation from seed-borne and soil-borne pathogenic organisms, and storage insects is projected to drive the global seed treatment chemicals market.
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Rise in Demand for Biostimulant Seed Treatment Chemicals
Biostimulant seed treatment chemicals foster crop growth and development by enhancing crop vigor, crop yield, crop quality, and tolerance of abiotic stresses in crops. Biostimulant seed treatment chemicals facilitate nutrient assimilation and translocation. This enhances the efficiency of crop metabolism, thus increasing its yield and quality. Biostimulant seed treatment chemicals stimulate water absorbing capacity of crops and enhance soil fertility by encouraging the development of complementary soil micro-organisms. A paradigm shift in utilization rate of biostimulant seed treatment chemicals over pesticide foliar sprays is likely to boost the global seed treatment chemicals market. Implementation of stringent regulations on usage of neonicotinoids based pesticides in EU countries is anticipated to provide an impetus to the adoption rate of biostimulant seed treatment chemicals. Rise in usage of biostimulant seed treatment chemicals owing to their beneficial functions is projected to drive the global seed treatment chemicals market during the forecast period.
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North America Dominates Global Seed Treatment Chemicals Market; However, Asia Pacific to Resister Exponential Growth and Offer High Incremental Opportunity
Based on region, the global seed treatment chemicals market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of value, North America was the leading region of the global seed treatment chemicals market in 2017. The U.S. accounted for significant share of the seed treatment chemicals market in the region, owing to the higher adoption rate of seed treatment chemicals for different crops such as wheat, corn, and soybean. Increase in agricultural activities in emerging markets such as India, China, and Australia is driving the seed treatment chemicals market in Asia Pacific. Advent of advanced farming techniques and favorable climatic conditions are anticipated to produce high crop yields in Asia Pacific. The usage of advanced farming techniques such as seed priming, seed coating, and seed pelleting using seed treated products is projected to boost the demand for seed treatment chemicals in Asia Pacific in the next few years. Furthermore, the seed treatment chemicals market in Argentina and Brazil is likely to expand at a rapid pace during the forecast period.
Eminent players operating in the global seed treatment chemicals market include BASF SE, Bayer AG, DowDuPont Inc., FMC Corporation, Germains Seed Technology, Nufarm Limited, Platform Specialty Products Corporation, Syngenta AG, UPL Limited, and Valent U.S.A. LLC (Sumitomo Chemical Company Limited). These players are focusing on acquisitions and strategic collaborations in order to increase their market share.
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