Dublin, March 01, 2016 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/mgtnbx/seed_coating) has announced the addition of the "Seed Coating Materials Market by Type (polymers, Colorants, pellets, minerals/pumice, and Other Additives), Crop Type (Cereals & Grains, Oilseeds & pulses, Fruits & Vegetables, flowers & ornamentals), & by Region - Global Trends & Forecasts to 2020" report to their offering.
The seed coating materials market is projected to grow at a CAGR of 7.6% from 2015 to reach a projected value of USD 1.63 Billion by 2020
The market growth is driven by increasing population demanding more food supply, rising technological advancement in the agricultural industry, and introduction of innovative seed technologies all over the globe, leading to increased use of seed coating materials. The market is further driven by factors such as growing awareness of commercial usage of seeds leading to an increased value of seed coating materials.
Depending upon crop types, the seed coating materials market is led by the cereals & grains segment, followed by the fruits & vegetables and flowers & ornamentals segments. Cereals & grains is also the fastest growing crop type in the seed coating materials market. The trend of using coated seeds is rising on a large scale in regions where there is extensive production and cultivation of cereals, grains, fruits, and vegetables, leading to growing market for seed coating materials for the mentioned crop types.
Among the types of seed coating materials, such as polymers, colorants, pellets, minerals/pumice, and others, polymers accounted for the largest market share, followed by pellets and colorants. Polymers are used on a large scale due to their functional qualities of improving the nutritive value of the seeds, helping in the application of biological seed protectants to seeds and enhancing the appearance of the seeds.
Stringent regulatory clauses for coating materials and increasing cost of raw materials are making it difficult for the manufacturers to manage production costs affecting the final price of seed coating materials in the market.
Key players identified in the seed coating materials market include BASF SE (Germany), Bayer CropScience AG (Germany), Clariant AG (Switzerland), Croda International PLC (U.K.), and Platform Specialty Products Corporation (U.S.).
Most key participants have been exploring new regions through new product launches, collaborations, and acquisitions across the globe to avail a competitive advantage through combined synergies.
Since 2011, the seed coating materials market has witnessed an increase in demand, especially in developing nations such as India, China, Mexico, and Brazil.
Companies Mentioned
- BASF SE
- Bayer Cropscience AG
- Brettyoung Seeds Limited
- Clariantag
- Croda International PLC
- Germains Seed Technology Inc.
- Incotec Group BV
- Keystone Aniline Corporation
- Platform Specialty Products Corporation
- Precision Laboratories, LLC
For more information visit http://www.researchandmarkets.com/research/mgtnbx/seed_coating