Seed treatment can be defined as the application of chemical ingredients or biological organisms to the seed that enables in suppressing, controlling or repelling plant pathogens, insects, or other pests that attack seeds, seedlings or plants. The Asia-Pacific Chemical seed treatment market was worth around $356.3 million in 2016 and is expected to cross $652.2 million by 2022 growing at the CAGR of 10.6% during the forecast period 2017-2022.
The growth in chemical seed treatment industry is largely fuelled by increasing farm sizes and rising concerns over its quality and safety due to harmful effects of chemicals to environment. Thus, some major drivers of the seed treatment industry are rise in the seed costs, crop rotations getting shorter and greater use of multi-component products. The poor farmers in Asia-Pacific are adopting organic techniques which have a lower environment impact which is driving the market.
Major restraints identified in this report are regulatory structure intervention regarding entry, concerns for the environment and regulation of seed treatment market. Major opportunities are fastest growth rate for biological agents and Asia-Pacific has a fastest growth rate in seed treatment market.
Asia-Pacific market is driving the growth and is expected to hold XX% of the global market revenue by 2022. The Asia-Pacific market is expected to have a high CAGR of 10.6% due to increasing demand for high yield crop products in the region and rising organic crop production, especially in China, India, Malaysia, Japan and Singapore.
Within this application category, insecticides constitute the largest sub-category, with an estimated 2016 share of XX% of chemical seed treatment demand. However, fungicide seed treatments are slated to witness the fastest CAGR of 11.1% during 2017-2022 in reaching a projected demand of US$235.7 million by 2022.
Wheat is the leading type of crop for chemical seed treatment applications in Asia-Pacific, estimated to account for XX% of the total demand in 2016. In terms of CAGR between 2017 and 2022, however, demand for seed treatment applications in rice is expected to be the second fastest crop among all crop types at 10.7% CAGR, Asia remains the hub of rice production, with many countries in the region growing more than one crop per season.
Some of the key companies in the market are Adama, Novozymes, Chemtura, Syngenta and Others. The key players are focusing to expand their business in Asia-Pacific regions. The leading players in this market adopted various strategies to strengthen the market opportunities and increase their market shares. Acquisitions, agreements & joint ventures are the major strategies adopted by major players.
In this report we offer,
Why should you buy this report?