Market Leaders : BASF SE (Germany), Solvay S.A. ( Belgium), Clariant AG (Switzerland), and Croda International PLC (UK) are Increasing Their Respective Market Share Steadily Through New Product Launches, Partnership and Expansions
The seed coating market is estimated to be valued at USD 2.4 billion in 2022. It is projected to reach USD 3.6 billion by 2027, recording a CAGR of 8.4% during the forecast period. Increasing awareness among farmers about the benefits of using certified/quality seeds has led to increased demand for seeds over the past few years, encouraging farmers to pay a higher price for quality seeds. Seed coating is a technique of application of colorants, biopolymers, microbes, and biocontrol agents that help germination, thereby enhancing the quality of seeds. Advancements in seed technology have been accelerated through marker-assisted breeding.
The key players in the seed coating market include BASF SE (Germany), Solvay S.A. (Belgium), Clariant AG (Switzerland), and Croda International plc (UK), among others. The key strategies the leading market players adopt include expansions and acquisitions to maintain their top position in the market. For instance, in July 2022, Solvay S.A. acquired Bayers seed coatings business, one of the major strategic moves in the seed coatings market. In September 2021, Croda International plc opened the crop product validation center in Holambra. It prepares the plant growth mediums based on the regions climatic conditions. The state-of-the-art center is dedicated to serving the agrochemical industry.
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BASF SE is the world’s leading chemical company that produces a wide range of products. BASF is innovative in its seed coatings technology and has products that assist the initial seed establishment, ensure enhanced crop yield, and create a more robust root system. The company also focuses on introducing new products with improved product features in the market. For instance, in December 2021, the company introduced Flo Rite® Pro 2805, a next-generation seed coating polymer to improve the adhesion and retention of the seed coating active ingredients. The company has a strong R&D pipeline for agricultural solutions focusing on sustainability and increased efficiency of its products.
Solvay S.A. is a life science company contributing to the areas of healthcare and agriculture. It is a leading player in providing materials, chemicals, and solutions to customers. . The crop science division of the company has been working on introducing seed enhancement and crop protection products and digital solutions. The company recently added seed-applied biostimulants to help seeds thrive in diverse soil and water conditions. Solvay has acquired Bayers global seed coating business to extend its business of sustainable seed solutions and to focus on bio-based sustainable technologies for seed treatment, such as seed coatings.
Related Reports:
Seed Coating Market by Form, Additives (Polymers, Pellets, Colorants, Minerals/pumice), Process (Film coating, Encrusting, Pelleting), Crop (Cereals & grains, Oilseeds & pulses, Vegetables, Flowers & ornamentals) and Region - Global Forecast to 2027
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