Global agricultural colorants market to reach $ 2 Billion by 2022
May. 2, 2017
The agricultural colorants market is segmented by type, application, and region. On the basis of type, the pigments was the largest market in 2016. The pigment is a type of insoluble material that is suspended in a medium for its usage as colorant agents. Increase in turf & ornamental management across the globe is driving the demand for pigments, which increases the demand for agricultural colorants in the global market.
The agricultural colorants in the global l market, by application, is segmented into seed treatment, fertilizers, crop protection, turf & ornamentals, pond/lake colors, and others (bio-stimulants and plant growth regulators). The turf & ornamental segment accounted for the largest market share in 2016. This is due to the increasing number of applications of turf colorants in recreational areas, parks, golf courses, athletic fields, and lawns to enhance the aesthetic appeal.
The North American market for agricultural colorants accounted for the largest share, followed by the European region in 2016. This is due to the increase in the consumption of dyes and pigments in various end-use agricultural products such as seed treatment, crop protection chemicals, fertilizers, and turf & ornamentals. The demand for healthy seeds to increase crop yield also pushes the demand for seed coating (colorants) with major usage as a turf colorants in the North American region.
The major restraining factors for agricultural colorants market are avoidance in use of colorants by fertilizer manufacturers, as colorants do not change the composition and content of the fertilizers, but increase the price with limited value addition; many manufacturers are avoiding colorants as a strategy to reduce the overall price of their product. Stringent and inconsistent regulations against usage of synthetic chemicals, especially in the European and North American region has somewhat affected the agricultural colorants market.
The agricultural colorants market is fragmented and not many big players hold the majority of market share. The companies profiled for this report are BASF SE (Germany), Lanxess Aktiengesellschaft (Germany), DIC Corporation (Japan), Clariant International AG (Switzerland), Sensient Technology (U.S.), Croda International PLC (U.K.), Organic Dyes & Pigments (U.S.), Keystone Aniline Corporation (U.S.), Chromatech Inc. (U.S.), BrettYoung (Canada), Germains Seed Technology Inc. (U.K.), Aakash Chemicals & Dye Stuffs (U.S.).
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