Agricultural Coatings Market Growth Drivers, Key Trends, Size, Share Analysis And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Agricultural Coatings Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The agricultural coatings market size has grown strongly in recent years. It will grow from $3.83 billion in 2023 to $4.2 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increased demand for crop protection, regulatory compliance, enhanced productivity, global agricultural trends, market expansion.

The agricultural coatings market size is expected to see strong growth in the next few years. It will grow to $5.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to sustainable agriculture practices, climate change adaptation, bio-based and organic coatings, global population growth, market innovation and research. Major trends in the forecast period include advanced formulations and technologies, sustainable and eco-friendly solutions, precision agriculture integration, smart coatings and iot integration, customization for varied agricultural applications.

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Market Drivers and Trends:

Increasing demand for food will propel the growth of the agricultural coatings market going forward. Food can be defined as substances that can provide protein, carbohydrate, fat, and other nutrients used in an organism's body and are essential for its proper growth and other nutrients used in the body of an organism necessary for its proper growth. Agricultural coatings give chemical resistance so that dangerous chemicals won't also be carried through food products when machinery passes through them. For instance, in July 2022, according to an article by the Food and Agriculture Organization, an Italy-headquartered international organization of the United Nations, there were approximately 828 million people globally affected by hunger in 2021, an increase of 46 million people compared to 2020. Furthermore, in February 2022, according to a report published by the World Food Programme, an Italy-headquartered international organization of the United Nations that provides food assistance, there will be 345.2 million people projected to be food insecure in 2023, which is double compared to 2020 and 200 million more compared to pre-pandemic levels. More than 900,000 people around the globe are fighting the food crisis. Therefore, increasing demand for food is driving the growth of the agricultural coatings market.

Technological advancements are a key trend in the agricultural coatings market. Major players operating in the agricultural coatings market are concentrating their efforts on introducing new and advanced technologies to strengthen their position in the market. For instance, in March 2022, Germains Seed Technology, a UK-based provider of seed technology solutions, launched Spinach Goseed, a nutrient-rich coating technology and bio-stimulants created specifically for spinach to enable plants to more effectively handle abiotic stress. Spinach Goseed focuses on enhancing early plant nutrition throughout the plant's emergence and early growth stages to ensure its success in a variety of growing situations. In each of the multiple trials, spinach goseed produced an average of 21% more final yields, 30% better plant stand, and 31% better emergence. With this technology, the company embraces the next generation of seed health technology solutions that give more natural plant-supporting options by fusing carefully chosen nutrients with bio-stimulants and other micro-ingredients.

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Major Key Players of the Market:

BASF SE; Bayer AG; Clariant International Ltd.; Croda International Plc; Sensient Technologies Corporation; Germains Seed Technology Ltd.; Precision Laboratories LLC; Pursell Agri-Tech LLC; Holland Novochem; The Arkema Group; Michelman Inc.; Huntsman Corporation; Momentive Performance Materials Inc.; Eastman Chemical Company; The Dow Chemical Company; Akzo Nobel N.V.; PPG Industries; Nippon Paint Holdings Co. Ltd.; Hempel A/S; Asian Paints Limited; Berger Paints India Limited; Brillux GmbH & Co. KG; CIN S.A.; Cloverdale Paint Inc.; DAW SE; Flügger Group A/S; Kansai Paint Co.Ltd.; Masco Corporation; RPM International Inc.

Agricultural Coatings Market 2024 Key Insights:

• The agricultural coatings market will grow to $5.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
• Elevated Global Food Demand Propels Growth In The Agricultural Coatings Market
• Cutting-Edge Technologies Drive Advancements In Agricultural Coatings
• North America was the largest region in the agricultural coatings market in 2023

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