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 South America Chemical Seed Treatment market was worth around USD 948 million in 2016 and is expected to cross USD 1.56 billion by 2022 growing at the CAGR of 9.8% during the forecast period 2017-2022.
Seeding rates have been witnessing considerable diminishing, which, in turn, has provided impetus to the practice of seed treatment for preventing plant loss. Focusing greater attention on procedures that reduce risk, such as adapting to weather conditions after sowing, which makes seedlings highly vulnerable to soil-borne diseases and insects. Some major drivers of the seed treatment are crop rotations getting shorter and greater use of multi-component products. All these are driving the market for seed treatment.
Major restraints identified in this report are concerns for the environment and regulation of seed treatment market. The South American market for chemical seed treatment is projected to reach USD 1.56 billion by 2022. With an estimated share of 45% in 2015, the Brazil constitutes the largest and fastest market for seed treatment in South America with CAGR of 10.2%.
By application segment, insecticides constitute the largest sub-category, with an estimated 2015 share of 54.8% of chemical seed treatment demand. However, fungicide seed treatments are slated to witness the fastest CAGR of 10.1% during 2017-2022 in reaching a projected demand of USD 587 million by 2022.
Corn/maize is the leading type of crop for chemical seed treatment applications in South America, estimated to account for 34% of the total demand in 2016. In terms of CAGR between 2017 and 2022, however, demand for seed treatment applications in soybean is expected to be the fastest among all crop types at 10.6%.
Key Industry Players
Some of the major players in the market include BASF, Bayer, Syngenta, Verdesian and others. The key payers are eventually focusing on agreements and partnerships to balance the supply and demand of the market. Introducing new effective products is another strategy to stay ahead of the competition.
In this report we offer,
Why should you buy this report?