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Agricultural Coatings Market Size

Report ID: GMI7837
Published Date: Jan 2024
Report Format: PDF

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Agricultural Coatings Market Size

Agricultural Coatings Market was valued at around USD 2.13 billion in 2023 and is anticipated to grow at a CAGR of around 5.6% between 2024 and 2032. The demand for agricultural coatings is primarily driven by the increasing global population and the consequent need for enhanced agricultural productivity.

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According to United Nations Food and Agriculture Organization (FAO), the world population is projected to reach 9.7 billion by 2050, necessitating a significant surge in food production. Agricultural coatings play a crucial role in improving seed performance, protecting crops from pests and diseases, and enhancing nutrient efficiency, contributing to higher yields.

Agricultural Coatings Market Report Attributes
Report Attribute	Details
Base Year:	2023
Agricultural Coatings Market Size in 2023:	USD 2.13 billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.6%
2032 Value Projection:	USD 3.48 billion
Historical Data for:	2018 – 2023
No. of Pages:	200
Tables, Charts & Figures:	191
Segments covered:	Category, End Use, Type
Growth Drivers:	Technological Advancements and Innovation Increasing Global Population and Food Demand Environmental Concerns and Sustainable Agriculture
Pitfalls & Challenges:	Regulatory Challenges and Compliance

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One potential pitfall for the agricultural coatings market lies in the regulatory challenges associated with the use of certain chemicals in coatings. Evolving regulations and compliance requirements, especially regarding environmental impact and safety, may pose challenges for manufacturers. Adherence to changing standards and the need for continuous research and development to meet regulatory demands can add complexity and costs to the industry, potentially impeding rapid market growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for agricultural coatings was valued at around USD 2.13 billion in 2023 and is estimated to reach USD 3.48 billion by 2032, driven by the increasing global population and the consequent need for enhanced agricultural productivity.

Seed coatings category segment accounted for USD 1.08 billion in 2023 and is poised to grow significantly through 2032, driven by various benefits, including improved germination rates, protection against diseases and pests, and enhanced nutrient absorption

North America agricultural coatings industry generated a revenue of USD 674.7 million in 2023 and is anticipated to expand at a significant pace from 2024-2032, fueled by a technologically advanced agricultural sector in the region.

BASF SE, Bayer AG,The Sherwin-Williams Company, AkzoNobel, PPG Industries, Valspar Corporation, Hempel A/S, Covestro AG, RPM International Inc are some of the major industry contenders.