The Global Market Report for Seed Coating Materials in 2023, meticulously curated and presented by The Business Research Company, delivers an exhaustive and insightful analysis of the seed coating materials market, encompassing more than 60 geographies spread across seven distinct regions, namely Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The report places a focused lens on the 27 major global industries, offering an in-depth examination of the current dynamics and trends within the market. It not only meticulously evaluates the historical market trends over a decade-long period, from 2010 to 2021, but also extends its purview to a comprehensive forecast period, spanning from 2023 to 2032, presenting a holistic projection of the anticipated trajectory of the market.
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According to the detailed insights presented in the aforementioned report, the market size for seed coating materials is poised to experience a significant surge, progressing from an estimated $1.99 billion in 2022 to a noteworthy $2.18 billion in 2023, portraying a commendable Compound Annual Growth Rate (CAGR) of 9.5%. However, it is imperative to emphasize that this growth trajectory has been notably influenced and shaped by the significant disruptive impact of the Russia-Ukraine conflict on the global economic landscape. This conflict has effectively hampered the prospects of a swift recovery from the extensive repercussions of the COVID-19 pandemic on a global scale, particularly in the short term. The consequences have been far-reaching, resulting in economic sanctions imposed on multiple nations, a discernible surge in commodity prices, and considerable disruptions within supply chains. These disruptions have consequently caused inflationary pressures across both goods and services, significantly affecting numerous markets on a global scale.
Given these dynamic circumstances and recognizing the inherent resilience within the seed coating materials market, the projected market size for global seed coating materials anticipates further growth, with a forecasted market value of approximately $3.09 billion in the year 2027, portraying a notable CAGR of 9.2%. This forecast underscores the enduring potential and fortitude within the seed coating materials market, persevering despite the prevailing challenges posed by geopolitical and economic instabilities.
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Technological advancement is a key trend gaining popularity in seed coating materials. Seed coating materials companies are focusing on developing better and more efficient coating materials for seed performance. For instance, in December 2021, the Germany-based chemicals company BASF launched a next-generation seed coating polymer, Flo Rite Pro 2805 for seed treatment, which uses advanced polymer-based technology. The new material is designed to improve the adhesion and retention of active ingredients and would offer soybean, dry bean, and pea growers’ better adhesion properties with high seed flow for optimizing plant populations for yields.
The seed coating materials market is segmented:
1) By Coating Type: Bio-based Coating, Synthetic Coating
2) By Material Type: Polymers, Colorants, Pellets, Minerals/Pumice, Active Ingredients
3) By Crop Type: Cereals and Grains; Fruits and Vegetables; Flowers and Ornamentals; Oilseeds and Pulses; Other Crop Types
4) By Process: Film Coating, Encrusting, Pelleting
North America was the largest region in the seed coating materials market in 2022.
The table of contents in TBRC’s seed coating materials market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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