New York, USA, May 16, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR),” Agricultural Coatings Market Information by Category, Type, Coating Type, Application, End-Use, and Region - Forecast till 2030”, Agricultural Coatings Market could thrive at a rate of 7.78% between 2022 and 2030. The market size will be reaching around USD 6.8 Billion by the end of the year 2030
Agricultural Coatings Market Overview:
Agricultural coatings refer to a type of coatings that are specifically designed for use in the agricultural industry. These coatings are used to protect and enhance the performance of agricultural equipment, structures, and crops. Agricultural coatings are used in a wide range of applications, including seed coatings, crop protection, equipment coatings, and building coatings. Seed coatings are applied to seeds to improve their performance and protect them from pests, diseases, and other environmental stresses. Seed coatings can include materials such as fungicides, insecticides, and micronutrients.
Crop protection coatings are used to protect crops from pests and diseases, while equipment coatings are used to protect agricultural machinery from wear and tear, corrosion, and other forms of damage. Building coatings are used to protect agricultural buildings from weathering and other environmental factors.
The agricultural coatings market is driven by several factors, including the growing demand for food due to the increasing global population, the need for sustainable agriculture practices, and the growing awareness of the benefits of using coatings in the agricultural industry. Agricultural coatings can help improve crop yields, protect crops from pests and diseases, and reduce the environmental impact of agricultural practices.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 6.8 Billion |
| CAGR | 7.87% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Category, Type, Coating Type, Application, and End-Use |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing adoption of seed-coated products. |
| increasing trend of commercial application of seed technologies |
Market Competitive Landscape
The affluent companies in the Agricultural Coatings industry include
- BASF SE
- Bayer AG
- Clariant Technologies
- Croda International Plc
- Sensient Technologies
- Germains Seed Technology
- Milliken Chemical
- Precision Laboratories
- Pursell Agri-tech
- Novochem Group
- Dorfketal
- Deltachem
- Israel Chemicals Ltd
- Arkema
- SQM
- Mosaic
- Nutrien Ltd
- Aakash Chemical
- Evonik Industries
- Encapsys LLC
Market USP Covered:
Market Drivers:
One of the primary drivers of the agricultural coatings market is the growing demand for food due to the increasing global population. As the world population continues to grow, there is a greater need to produce more food with limited resources. This has led to the adoption of new agricultural practices, such as precision farming, to improve crop yields and reduce waste. Agricultural coatings play an important role in these practices by protecting crops and equipment from environmental stresses, which can help to improve the efficiency and sustainability of agricultural production.
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Moreover, the increasing demand for organic food products is another driver of the agricultural coatings market. Consumers are becoming more aware of the health and environmental benefits of organic food, which has led to an increase in the adoption of organic farming practices. Agricultural coatings that are designed to be eco-friendly and meet organic standards can help farmers to produce high-quality organic crops while protecting the environment.
Market Restraints:
One of the primary restraints of the agricultural coatings market is the high cost of coatings, which can be a significant barrier to adoption, especially for small-scale farmers. Agricultural coatings are often more expensive than traditional coatings due to the specialized materials and manufacturing processes used in their production. Additionally, the cost of application and maintenance can also be high, which can deter farmers from using coatings on their crops and equipment.
Moreover, the lack of awareness and education about the benefits of agricultural coatings can also be a restraint on the market. Many farmers may not be aware of the benefits of using coatings or may not understand how to properly apply and maintain coatings, which can lead to a reluctance to adopt these products.
COVID 19 Analysis
The pandemic has increased awareness of the importance of sustainable agriculture and the need for resilient food systems. This has led to increased demand for agricultural coatings that can help farmers improve the efficiency and sustainability of their agricultural practices. Governments around the world have provided support for the agriculture sector, including subsidies and financial aid for farmers. This has helped to maintain demand for agricultural coatings despite the economic downturn caused by the pandemic.
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The pandemic has disrupted agricultural production, as many farmers have faced challenges such as labor shortages, travel restrictions, and supply chain disruptions. This has led to reduced demand for agricultural coatings in some regions. The pandemic has caused an economic downturn in many countries, leading to reduced spending on non-essential items. This has impacted the agricultural coatings market, as some farmers may choose to delay investments in new coatings or reduce their use of coatings to save costs.
Market Segmentation:
By Category
The category in the market includes Seed Coatings, Fertilizer Coatings, and Pesticide Coatings.
By Type
By Type, the segment includes Polymers, Colorants, and Pellets
By Coating Type
By coating type, the segment includes Powder Coating and Liquid Coating
By Application
By application, the segment includes Agricultural Vehicles, Agricultural Machinery, Agricultural Tools, and Others.
By End-Use
By end-use, the segment includes Insecticides, Herbicides, Fungicides, Rodenticides, and Other Pesticide Coatings
Regional Insights:
The agricultural coatings market in North America is expected to experience significant growth due to the adoption of advanced farming practices and the increasing demand for sustainable agriculture. The United States is the largest market for agricultural coatings in North America, followed by Canada and Mexico. The growth in this market is primarily driven by the increasing demand for high-quality food products, the need to enhance crop yields, and the adoption of precision farming techniques.
The agricultural coatings market in the Asia Pacific is expected to experience substantial growth due to the increasing population and the need for food security in the region. China and India are the largest markets for agricultural coatings in the Asia Pacific, followed by Japan and South Korea. The growth in this market is driven by the increasing demand for food products, the adoption of modern farming practices, and government initiatives to support the agriculture sector.
The agricultural coatings market in Europe is expected to grow steadily due to the increasing demand for organic food products and the adoption of sustainable agriculture practices. The UK, Germany, France, and Italy are the largest markets for agricultural coatings in Europe. The growth in this market is driven by the increasing demand for organic food products, the need to reduce the environmental impact of agriculture, and government initiatives to support sustainable agriculture practices.
Industry New:
December 2021: BASF launched a new line of agricultural coatings called AgBalance, which are designed to help farmers reduce their carbon footprint and improve the sustainability of their agricultural practices. The coatings are made from renewable raw materials and are formulated to reduce the environmental impact of agricultural practices.
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