Chemical seed treatment is a process of treating seeds with chemicals and non-chemical methods before plantation. It is an ecofriendly way of using small amount of insecticide and fungicides. The Mexico chemical seed treatment market was worth around USD 134.9 million in 2016 and is expected to cross USD 220.4 million by 2022 growing at the CAGR of 8.5% during the forecast period 2017-2022.
The demand for crops has stimulated due to rise in the consumption of crops. Rise in the cost of seeds is one of the factor alluring the market. Increase in farm sizes along with crop rotations getting shorter are expected to drive the demand for chemical seed treatment market.
The left over materials after the treatment affect the environment and limited dose capacity along with limited shelf life are some of the constrains of the chemical seed treatment market. Awareness on the impact of biological chemical seed treatment created an opportunity for chemical seed treatment market.
Within this application category, insecticides constitute the largest sub-category, with an estimated 2016 share of 53.4% of chemical seed treatment demand. However, fungicide seed treatments are slated to witness the fastest CAGR of 9.3% during 2017-2022 in reaching a projected demand of USD 81.98 million by 2022.
Corn/maize is the leading type of crop for chemical seed treatment applications in Mexico, estimated to account for 33.2% of the total demand in 2016. In terms of CAGR between 2017 and 2022, however, demand for chemical seed treatment applications in soybean is expected to be the fastest among all crop types at 9.4%.
Key Industry Players
Adama Agricultural Solutions Ltd (Formerly Makhteshim Agan Industries Ltd), Advanced Biological Marketing Inc, BASF SE, Bayer CropScience AG, BioWorks Inc, BrettYoung Limited, Chemtura AgroSolutions, DuPont, INCOTEC Group BV, Verdesian life sciences, Monsanto Company, Novozymes A/S, Nufarm Ltd, Plant Health Care, Precision Laboratories LLC, Syngenta International AG, Valent USA Corporation and Wolf Trax Inc.A few have focused on horizontal growth by expanding their presence in emerging markets that offer greatest scope for future prospects, while yet others have been content to operate within their established boundaries and go in for vertical growth by concentrating on innovations in the area of products and solutions.
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