Agricultural Coatings Key Market Players, Statistics, Gross Margin, and Forecast 2030
Agricultural Coatings Market Scope
Market Research Future (MRFR) expects the agricultural coatings market to thrive at a rate of 7.87% between 2021 and 2030.
Major Boosters and Restraints
Agricultural coatings have been seeing a significant rise in their demand owing to the surging need to bolster agricultural output, and protect crops from diseases and pests. The need for flowability and ease of handling, and the emerging trend of quality consciousness among farmers also elevate the adoption of these coatings. It all comes down to the burgeoning demand for food among the ever-expanding population, which pushes farmers to focus on enhancing farm yields. This should be extremely favorable for the agricultural coatings industry in the long run.
Farmers, coupled with consumers, are now more than willing to shell out huge amounts for quality seeds, as well as advanced fertilizers for better yield. Moreover, the innovations in farming techniques, as well as the applications of fertilizer, pesticide, and commercial seed technology, will create further demand for agricultural coatings in the years ahead.
The extensive deployment of fertilizers, particularly sulfur, is now extremely common in China, India, and various emerging markets such as Indonesia and Thailand. Therefore, the Asia Pacific market will hold a major position in the years to come. The rise in the use of fertilizers owing to the surging applications in advanced systems and precision farming will further propel the agricultural coatings market position.
Renowned Firms
Some of the agricultural coatings key market players active in the worldwide market for agricultural coatings are Pursell Agri-tech (US), Clariant Technologies (Germany), Evonik Industries (Germany), Aakash Chemicals, Milliken Chemical (US), BASF SE (Germany), Novochem Group (Netherlands), Dorfketal (India), Deltachem (Germany), Israel Chemicals Ltd (Israel), Sensient Technologies (US), Croda International Plc (UK), Germains Seed Technology (UK), Arkema (France), Mosaic (US), Nutrien Ltd (Canada), Bayer AG (Germany), Encapsys LLC (US), Precision Laboratories (US), SQM (Chile), and many others.
Segmental Review
The key categories covered in the agricultural coatings market report include Fertilizer Coatings, Pesticide Coatings, and Seed Coatings. The seed coating segment is leading the agricultural coatings industry due to the surging technological innovations in seed technologies.
The various types of agricultural coatings available on the market include Colorants, Pellets, and Polymers. Polymers form the top segment in the agricultural coatings market since they are easy to use, help enhance the crops’ shelf life, and are easy to handle.
Major coating types are Powder Coating as well as Liquid Coating. Powder Coating clinches the leading spot as these are cheaper and easier to use.
The top applications of agricultural coatings are Agricultural Tools, Agricultural Machinery, Agricultural Vehicles, and more. The agricultural machinery segment heads the agricultural coatings industry, while the agricultural vehicle segment will capture the highest growth rate in the years to follow.
Major end-users are Herbicides, Insecticides, Rodenticides, Fungicides, and more.
Regional Insight
The agricultural coatings market size expanded due to North America's high demand for disease-resistant, high-yielding crops, which increases the region's demand for coatings.This is one of the many reasons for the region’s eminent position in the worldwide agricultural coatings market. The deployment of chemicals to control weeds, fungi and insects has been surging rapidly in the region, which is yet another factor inducing growth in the North American agricultural coatings market. Another important factor can be the rising use of genetically modified crops along with the emergence of new diseases and pests. The American Seed Trade Association (ASTA) reveals that in 2021, there were more than 765 seed companies present in the US, making the country a highly lucrative market for seed coating in the region.
The extensive deployment of fertilizers, particularly sulfur, is now extremely common in China, India, and various emerging markets, such as Indonesia and Thailand. Therefore, the Asia-Pacific region will hold a major position in the agricultural coatings market in the years to come. The rise in the use of fertilisers owing to the surging applications in advanced systems and precision farming will further propel the agricultural coatings market.
The Asia Pacific can presumably capture the highest expansion rate in the years ahead, given the many emerging nations with huge populations present in the region. Prime examples of such countries can be China and India.
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