Seed Treatment Chemicals Market is projected to Reach US$ 5,500 Mn by 2026
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The global seed treatment chemicals market was valued at around US$ 3,500.0 Mn in 2017 and is anticipated to expand at a CAGR of more than 5.0% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled 'Seed Treatment Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026.' The seed treatment chemicals market in Asia Pacific is expected to expand at a CAGR of around 8.0% during the forecast period. Improvement in seed treatment active ingredients, advancement in farming practices, enhanced plant growth, and improvement in crops' stress tolerance are factors estimated to drive the global seed treatment chemicals market during the forecast period.
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Increase in Prevalence of Crop Diseases and Pests
Of late, the threat of crop diseases and transboundary plant pests has amplified due to the drastic climatic changes and improper or inappropriate crop protection methods. Seeds and seedlings are vulnerable to several foliar pests and soil-borne diseases.
Soil-borne diseases substantially lower the photosynthetic capacity of vegetable plants, thereby hampering the crop yield. Thus, rise in prevalence of soil-borne diseases and pests causes significant yield losses.
Seed treatment chemicals are primarily used to ensure uniform crop stand establishment by protecting crops against soil-borne pathogens and insects. Seed treatment chemicals exterminate seed-borne pathogens such as smut, bunt, mycelium, bacteria, and nematodes.
Thus, high prevalence of soil-borne diseases and pests is anticipated to boost the demand for seed treatment chemicals. Increase in demand for seed treatment chemicals owing to their characteristics of seed disinfection and seed disinfestation from seed-borne and soil-borne pathogenic organisms, and storage insects is projected to drive the global seed treatment chemicals market.
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Rise in Demand for Biostimulant Seed Treatment Chemicals
Biostimulant seed treatment chemicals foster crop growth and development by enhancing crop vigor, crop yield, crop quality, and tolerance of abiotic stresses in crops. Biostimulant seed treatment chemicals facilitate nutrient assimilation and translocation.
This enhances the efficiency of crop metabolism, thus increasing its yield and quality. Biostimulant seed treatment chemicalsimage stimulate water absorbing capacity of crops and enhance soil fertility by encouraging the development of complementary soil micro-organisms.
A paradigm shift in utilization rate of biostimulant seed treatment chemicals over pesticide foliar sprays is likely to boost the global seed treatment chemicals market. Implementation of stringent regulations on usage of neonicotinoids based pesticides in EU countries is anticipated to provide an impetus to the adoption rate of biostimulant seed treatment chemicals.
Rise in usage of biostimulant seed treatment chemicals owing to their beneficial functions is projected to drive the global seed treatment chemicals market during the forecast period.
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