The insecticide seed treatment market is projected to grow at a CAGR of 11.3% from 2017, to reach a projected value of USD 5.04 billion by 2022. The increase in usage of seed treatment solutions on high-priced GM seeds, growth in the area under GM crops, increase in crop demand for biofuel and feed, and the use of insecticides as a low-cost crop protection solution are enhancing the market for insecticide seed treatment, globally. The growth in the insecticide seed treatment market is also driven by advanced farming technologies that ensure safe and reliable application of seed treatment formulas.
The key market players adopted strategies such as expansions, agreements, collaborations, partnerships, and acquisitions to increase their market presence and revenue generation. Leading players focused on strengthening their R&D proficiencies by capitalizing on advanced technologies and entering R&D agreements with other companies, to develop diversified product portfolios of insecticide seed treatment.
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• BASF SE (Germany)
• Monsanto Company (U.S.)
• Sumitomo Chemical Co., Ltd (Japan)
• Bayer CropScience AG (Germany)
• Syngenta AG (Switzerland)
• Effective Solution to Minimize Crop Loss
• Additional Advantages of Seed Treatment Insecticides
• Increase in Area Under GM Crops
• Increase in Demand for Biofuel and Feed
• Stringent Government Regulations
• Depressed Commodity Prices and Lower Farm Incomes
• Structural Weakness of the Seed Treatment Industry in Asia-Pacific and African Economies
• Issues Associated With GE Crop Varieties
• Technological Advancements in Seed Treatment
• Existing Ban on Neonicotinoids
• Lack of Seed Treatment Awareness at Farmer Level
Insecticide seed treatment are used to control insect pests by specifically inhibiting or killing the insect causing the infection. The ease in application mode has made these insecticide seed treatment more convenient to use for the farmers. Neonicotinoids are projected to be the fastest-growing chemical sub-type between 2017 and 2022. The most promising advantage of neonicotinoid insecticides in pest control is their water solubility, which allows them to be applied to the seed and be absorbed by plants. Seed treatment applications reduce the risks of insecticide drift from the target site.
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South America is one of the largest contributors to the global insecticide seed treatment, due to the increase in use of insecticide seed treatment through advanced agricultural techniques and rise in need for food security in the South American countries. Brazil and Argentina were the largest country-level markets in the South American region in 2016. High market penetration by the leading insecticide seed treatment companies, for enhancing the agricultural growth and productivity, and the decrease in arable land are the main factors influencing the growth of the insecticide seed treatment market in South America.