The Global Seed Coating Material Market was valued at USD 1.5 Billion in 2020 and is anticipated to grow at USD 2.46 Billion till 2027 recording a CAGR of 7.3% during the forecast period 2021-2027. The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.
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Seed coating refers to the coating seeds using different materials like plant growth regulators and repulsive agents such as fertilizers and chemicals. Seed coating allows increasing high rates of seeding, shelf life and augmenting crop yield. There are several crucial factors anticipated to impel the seed coating material market such as increasing awareness about advantages of seed coating amid farmers and growing demand for coated seeds and advances in agriculture practice. In addition, subsidies and initiatives by governments, growing consumption of food grains, huge preference towards sustainable agriculture practices and growing population will drive the seed coating material market growth. But, incompatibilities between active and dye components, strict regulatory framework and difficulty in giving uniform coating on seed are projected to hamper Seed Coating Material Market.
Rapid growth in agriculture segment is anticipated to drive the seed coating material market. Market growth is mainly examined in emerging countries and developing regions as these regions and countries are hugely depend on agriculture segment. Key players of the market are concentrating more on geographical expanding in the countries particularly in countries such as Japan, India, China and Brazil. Industry players in Seed Coating Material Market are focusing more on mergers, collaborations, new product launchings and acquisitions to reinforce their position in the market and expand the product portfolio.
Seed coating market is classified into different regions based on regional basis such as North America, Latin America, Middle East, Africa, Europe and Asia Pacific. U.S becomes the prominent region to obtain huge share in North America Seed Coating Material market. North America is anticipated to impel the seed coating material market due to the factors such as additional subsidies by the government and increase in preference towards cutting-edge agricultural technologies. Seed coating material market in Asia Pacific is expected to witness robust growth during the forecast duration due to presence of a huge count of unmet needs and untapped opportunities, huge dependency on the agriculture income and growing demand for coated seeds.
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A few of the major players operating in seed coating material market include DuPont (U.S.), Adjuvant plus Inc. (Canada), Monsanto Company (U.S.), Momentive Performance Materials (U.S.), Syngenta AG (Switzerland), Akzonoble N.V. (Netherlands), Bayer CropScience AG (Germany), Brandt Consolidated (U.S.), Solvay SA (Belgium), The Dow Chemical Company (U.S.) and Croda Chemicals (India)
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