The global agricultural coatings size is estimated to be valued at USD 3.7 billion in 2021 and is expected to reach a value of USD 5.3 billion by 2026, growing at a CAGR of 7.3% in terms of value during the forecast period. Factors such as rising need to increase agricultural productivity and favorable government policies and regulations are some of the factors driving the growth of agricultural coatings.
Key players in this market include BASF SE (Germany), Bayer AG (Germany), Clariant Technologies (Germany), Croda International Plc (UK), Sensient Technologies (US), Germains Seed Technology (UK), Milliken Chemical (US), Precision Laboratories (US), Pursell Agri-tech (US), Novochem Group (Netherlands), Dorfketal (India), Deltachem (Germany), Israel Chemicals Ltd (Israel), Arkema (France), SQM (Chile), Mosaic (US), Nutrien Ltd (Canada), Aakash Chemicals, Evonik Industries (Germany) and Encapsys LLC (US).
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New product launches, expansions, investments, acquisitions, and collaborations were the key strategies adopted by the leading players in the agricultural coatings with a view to improving their product line and presence in the market.
Bayer (Germany) is a life sciences company contributing to the areas of healthcare and agriculture. Bayer operates through four business segments, namely, pharmaceuticals, consumer health, animal health, and crop science. The CropScience division of the company has been working on introducing seed and crop protection products and digital solutions. The company provides seed enhancement products such as seed coatings and colorants under the Bayer SeedGrowth segment. The company delivers a broad range of solutions under the brand name, Peridiam, to meet the specific needs of customers in all major crops. The R&D develops new and innovative seed-applied technologies and overcomes the challenges in germination and dust control conducted in the lab and on the field. These solutions optimize seed performance by offering coating technologies for improved flowability, sowability, and adhesion. The acquisition of assets of Monsanto Company (US) in June 2018, which led to the expansion of its seeds and crop science business, has also allowed the company to capture a significant share in the seed coating market.
BASF SE (Germany) is the largest chemical producer across the globe. The company operates through five major business segments, namely, functional materials & solutions, chemicals, performance products, agricultural solutions, and others. The agricultural solutions division comprises seeds and seed treatment products. BASF SE introduced the colors and effects brand in June 2016. This new brand encompasses the company’s distinct colorants and pigments portfolio, catering to five key industries, namely, coatings, plastics, printing, cosmetics, and agriculture. It operates 13 pigment production sites in China, France, Germany, Korea, the Netherlands, Switzerland, and the US. It provides tailor-made solutions for seed dressing, seed coating, seed pelleting, fertilizer, and non-crop application of dyes and pigments in agriculture. The company offers a complete line of planting polymers, binding polymers, build-up polymers, and colorants that can be used individually or combined for optimum seed-harvesting and plantability.
Agricultural Coatings Market by Category (Seed Coatings, Fertilizer Coatings, and Pesticide Coatings), Seed Coating Types (Polymers, Colorants, and Pellets), Fertilizer Coating Types, Pesticide Coating Applications, and Region - Global Forecast to 2026
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