Agricultural Coatings Market Share, Analysis | Industry Growth Report

The global agricultural coatings size is estimated to be valued at USD 3.7 billion in 2021 and is projected 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. The consumption of agricultural coatings is increasing significantly due to the rising demand for agricultural output, protection from pests & diseases, the need for ease of handling and flowability, and increasing the quality consciousness of farmers. The increasing demand for food by the ever-increasing population has put significant pressure on farmers to increase farm yields, which has paved the way for the use of agricultural coatings. Farmers, as well as consumers, are willing to pay more for quality seeds, and fertilizers for enhancing the yield. The advances in farming techniques and applications of commercial seed, fertilizer, and pesticides technology have created a significant demand for agricultural coating in the global market.

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By type, the polymers segment of the agricultural coatings market is projected to grow at the highest CAGR during the forecast period

Seed coating polymers are used in the film coating process. The film coating process consists of the application of a thin water permeable polymer based coating layer onto the seed, seed coating or pellet. Polymers are available in a range of colours, coverage qualities, opacities and finishes. Polymers provide better shelf life as a result of less settling out of components and requires less water water, resulting in ease of handling and reduced storage losses. It offers improved seedling emergence and vigor which is driving the growth of this segment in the agricultural coatings market.

The market for insecticides segment of pesticides coatings is projected to grow at the highest CAGR during the forecast period

The insecticides segment of the agricultural coating market is projected to grow at the highest CAGR during the forecast period. The increasing research & development expenditures on insecticides by major companies involved in the pesticide coatings market and the rising trend of registration & commercialization of new varieties of microencapsulated insecticides is increasing the adoption of insecticides for crop protection.

Polymer coatings, a segment of fertilizer coating dominated the fertilizer coatings market during the forecast period

The need for predefined and patterned nutrient release in the case of high-value crops and horticulture triggered the development of polymer coatings in the market as an alternative to sulfur-coated fertilizers. These coatings are either semi-permeable or impermeable membranes with tiny pores, which enable the controlled diffusion of nutrients into the soil. The rate of the release of nutrients can be controlled by the composition and thickness of the polymer coating. The nutrient release is dependent on temperature and the moisture permeability of the polymer coating.

The market for polymer-coated fertilizers has been growing strongly annually, owing to the increasing awareness about the benefits associated with precision in the controlled-release of nutrients using these products. According to TFI, the market for polymer-coated fertilizers has increased to the most significant extent as compared to other controlled-release fertilizers, and this growth is mostly witnessed in the North America and Asia Pacific markets.

North America accounted for the largest share during the forecast period in the agricultural coatings market

The increase in the demand for high-yielding and disease-resistant crops from both domestic markets as well as export destinations are some of the key drivers of the seed coatings market in the region. The North American region mostly cultivates crops such as cereals & grains, fruits, vegetables, oilseeds & pulses, and also plants for clothing and other non-food uses. The region mainly grows cereals & grains, such as wheat, rice, barley, corn, sorghum, and oats, which demand more protection. In North America, agriculture is heavily mechanized with an integrated system of supporting agribusinesses. Especially in the US and Canada, most farmers and ranchers have adopted technology, although few groups continue to use animal power for cultivation purposes. Monoculture is popularly practiced in the North American zones. This results in the nutrient deterioration of nitrogen and phosphates in the soil. And also, there is a high possibility of diseases affecting a single species of plants. This has created awareness among the farmers regarding innovation with respect to the improvement of seed performance.

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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 and Encapsys LLC (US).

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