The most recent study conducted by Report Ocean, titled “Global Seed Treatment Materials Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Seed Treatment Materials. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Seed Treatment Materials Market is valued at approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2029. Seed treatment materials are referred to as seed treatment products or chemicals that are utilized in the seed treatment methods including seed pelleting, seed coating, seed dressing, and seed disinfection. The growing awareness regarding seed treatment materials and the rise in demand for high-efficiency seed treatment solutions are the prominent factors that are amplifying the demand for seed treatment materials across the globe.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The thriving growth of the agriculture industry is excelling in the market expansion at a substantial rate. According to Statista, in 2018, Brazil’s agriculture sector’s contribution to GDP (gross domestic product) accounted for 4.4%, which reached 5.9% in the year 2020. Also, in Ukraine, the agriculture sector’s contribution to GDP was recorded at 8.97% in 2019, which is estimated to reach 10.63%. Therefore, the rising involvement of the agriculture industry in a developing country is exhibiting a huge influence on the market demand in the global market. In addition, the rising focus on sustainability practices in agriculture, as well as the growing demand for high-quality seeds are presenting various growth prospects to the market in the forthcoming years. However, regulations from the government and industry standards and the limited shelf life of the treated seeds are hampering the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Seed Treatment Materials Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the strong presence of biological seed treatment companies along with the increasing need for better quality seeds. Whereas, the Asia Pacific is expected to grow at the highest growth rate over the forecasting period. Factors such as rising demand for crop protection chemicals, as well as the growth of high-value crops, are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
Corteva Agriscience
Eastman Chemical Company
FMC Corporation
Chromatech Incorporated
Bayer AG
Evonik
BASF SE
Novozymes A/S
Clariant Specialty Chemicals
Syngenta AG
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Recent Developments in the Market:
In January 2021, Corteva Agriscience announced the establishment of a new Centre of Seed Applied Technologies (CSAT) in south-west France, which is engaged in seed treatment such as Lumivia and Lumiposa for insecticide seed treatment control, Lumisena and Lumflex for fungicide seed treatment control, and Lumidapt, seed-applied growth nutrition for all hybrid crops.
In December 2020, BASF announced the launch of three new soybean seed treatment solutions, Vault IP Plus seed treatment, Poncho XC seed treatment, and Relenya seed treatment.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Coating Type:
Seed Film Coating
Seed Encrusting
Seed Pelleting
By Application:
Seed Polymers
Binder & Fillers
Colourant
Seed Biologicals
Seed Protection
Fungicides
By Treatment Method:
Chemical Seed Treatment
Non-Chemical Seed Treatment
Hot Water Treatment
Dry Heat Treatment
By Crop Type:
Cereals & Grains
Oilseeds & Pulses
Other Crop Types
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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