The global market for seed treatment in corn/maize was estimated at USD 1.21 billion in 2017 and is further forecast to maintain a CAGR of 10.7% between 2018 and 2023. North America and South America accounted for a collective share of more than 50% in 2015 and are the largest markets for seed treatment in corn/maize applications. In terms of growth in demand, however, Asia-Pacific is expected to witness the fastest CAGR of 10.8% during the forecast period, 2018-2023.
Corn seed treatment holds the largest share, by crop, for the use of seed treatment chemicals, with a market share of 46.2% in 2016. The high-value of genetically modified corn seed is a major driving factor for the corn seed treatment market growth. Increasing attack of fungal diseases, insects, and nematodes on seedlings is the major reason for the use of seed treatment chemicals on corn.
The North American corn/maize seed treatment market is the largest market, globally, and is further forecast to increase at a CAGR of 8.3% during 2018-2023. As of 2015, the United States represents the largest corn/maize seed treatment market in North America, though Mexican demand is primed to register the fastest CAGR of 8.7%.
Major Players: Advanced Biological Marketing Inc., Bayer Crop Science AG (Germany), Brettyoung Limited (Canada), DuPont (United States), Germains Seed Technology (United Kingdom), and Incotec Group BV (The Netherlands), among others.
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