Global Propionic Acid Market to Exceed $1.55 Bn by 2020
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Deerfield Beach, FL -- (SBWire) -- 06/13/2017 --Zion Market Research has published a new report titled "Seed Treatment Market by Function (Crop Protection Chemicals, and Seed Enhancement), By Type (Chemical, Physical, and Biological), and By Crop Type (Corn, Soybean, Cotton, Canola, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020." According to the report, the global seed treatment market was valued at USD 4.50 billion in 2014 and is expected to reach USD 9.50 billion in 2020, growing at a CAGR of above 9% between 2015 and 2020.
Seed treatment is a mechanism in which the seeds are pre-treated with a chemical or fungicidal or any antimicrobial before plantation. Usually, seed treatment involves seed dressing, seed coating and seed pelleting. Seed dressing is one of the most commonly employed methods of seed treatment. Seed treatment has been proved to be very important to improve crop yield. Present day seed treatment products offer effective and efficient way of pests control and help to a healthy and vigorous growth of crops.
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Shrinking arable land and lower crop yield due to pests have resulted into increasing demand for seed treatment. The increase in prices of fertilizers and pesticides have fueled the growth of seed treatment market. Additionally, rising awareness among the growers regarding benefits of using treated seed is also expected to propel the growth of seed treatment industry. However, strong growth in population resulting into the steep rise in demand for food crops is a major growth driver for seed treatment market. Stringent regulatory policies in developed and developing nations are expected to have the adverse impact on the growth of seed treatment market to some extent during the forecast period.
Crop protection chemicals and seed enhancement are the major segments of seed treatment market based on function. Crop protection chemicals segment dominated the global seed treatment market and accounted for over 50% share of the entire market in 2014. Crop protection chemicals segment is also expected to keep its dominance during the forecast period. Chemical, physical and biological are the major types of the seed treatment market. Chemical segment held the leading position and accounted for over 50% share of the total market in the year 2014. Biological was the second largest segment owing to the frequent demand for organic treatment in farming sector that helps to get high yield. The biological segment is expected to exhibit robust growth in the years to come.
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Corn, soybean, cotton, canola, and others are some of the most important crop segments of the seed treatment industry. Corn was the principal crop that accounted for more than a quarter share of the entire market in 2014. Corn is the major ingredient that counts for a production of bio-fuels, starch, and starch products. Hence, growing demand for corn is expected to fuel the growth of this market. Corn was followed by soybean and wheat. Canola is projected to exhibit the rapid growth during the forecast period.
North America was the leading regional market seed treatment industry owing to strong demand from U.S. North America was followed by Latin America with the second largest market share in global seed treatment market in 2014. Brazil has remained major growth driver for seed treatment market in the region. Asia-Pacific is expected to grow at a rapid pace owing strong demand from China and India. Shrinking arable land and declining crop yield in the region coupled with immensely growing demand for food grains is likely to drive seed treatment market in the region.
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Some of the key participants in global seed treatment market include Syngenta, Bayer CropScience AG, Monsanto, BASF SE, Chemtura, Nufarm, DuPont, Becker Underwood, Wolf Trax Incorporation, Plant Health Care, Valent U.S.A. Corporation, Precision Laboratories Incorporation, Sumitomo Chemical Company Limited, Novozymes A/S, Advanced Biological Marketing, Morflora, ASTEC Global, Incotec Group BV, Cibus Global, Germains Seed Technology, Ceres Inc. and Brettyoung Limited.
Browse detail report at http://www.marketresearchstore.com/report/seed-treatment-market-z40260
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