The global insecticide seed treatment market was valued at $2.73 billion in 2016, and is projected to grow at a compound annual growth rate of 11.3% from 2017, to reach a projected value of $5.04 billion by 2022, according to a new report from MarketsandMarkets.
Neonicotinoids are projected to be the fastest-growing chemical sub-type between 2017 and 2022, according to the report. 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.
Cereals and oilseeds dominated the insecticides seed treatment market in 2016; it is projected to grow at the CAGR of from 2017 to 2022. Over the past few years, there has been a surge in global demand for grains and oilseeds, due to the use of animal feed and vegetable oil for biodiesel and human consumption. Oilseeds are widely consumed by people in developing countries and are gaining even more importance as cash crops.