Rising GM seed prices and cost effectiveness of seed treatments over other crop protection methods are expected to drive the demand for the seed treatment market in the near future.
Rockville, MD (PRWEB) May 08, 2013
The seed treatment market consists of crop protection chemicals or agrochemicals, specifically for seeds, and genetically modified (GM) crop-seeds. Crop protection chemicals are the most dominating segment of this market in terms of market share as well as product innovations. Seed treatment market is further classified as insecticides (chemical), fungicides (chemical), bio-control seed treatments, and other seed treatment chemicals.
On the basis of types, seed treatment market is further segmented as chemical and non-chemical. Bio-based seed treatments, a part of non-chemical seed treatment, are made up of renewable resources and contain natural active ingredients. These seed treatments have much of a no negative impact on the environment, workforce and consumers safety when compared to chemical seed treatments. Bio-based seed treatment is expected to be one of the fastest growing seed treatment segments in the near future.
Chemical seed treatments, which are typically manufactured from petrochemical or inorganic raw materials, are further segmented as insecticides, fungicides, and other chemical seed treatments. The market is dominated by chemical insecticides, accounting for over 51.3% of the total seed treatment demand in 2012. The fungicide seed treatments market is growing at a CAGR of 7.6% and is expected to reach $692.0 million by 2018. The insecticides seed treatment market is projected to reach $1,161.9 million by 2018, growing at a CAGR of 10.5%
Rising GM seed prices and cost effectiveness of seed treatments over other crop protection methods are expected to drive the demand for the seed treatment market in the near future. However, an absence of centralized government regulations for treated seed and seed treatment active ingredient registration are expected to hamper the growth and demand for seed treatments in the next five years.
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