Agricultural dyes & pigments market to reach $ 1.86 bn by 2020

The agricultural dyes & pigments market is estimated to be valued at USD 1.51 Billion in 2015 and is projected to grow at a CAGR of 4.3% from 2015 to reach a projected value of USD 1.86 Billion by 2020,according to a newly-published report.

North America accounted for the largest share in the agricultural dyes & pigments market, followed Europe and Latin America. Adoption of agriculture dyes & pigments in emerging countries such as Brazil, South Africa, and Argentina is increasing, which is promoted by agronomic benefits in terms of yield and protection. The North American region is projected to be the fastest-growing market with investments from several multinational manufacturers, especially in countries such as the U.S., Canada, and Mexico.

The market growth is driven by increasing demand from end-user industries such as fertilizer industry, turf & ornamental industry & pond/lake color management industry. Further, the increasing number of applications such as use of dyes & pigments in seed treatment, seed coating, seed dressing and crop protection products. The market is further driven by factors such as advanced farming technologies and its multi-functional uses.
Depending upon the applications, the agricultural dyes & pigments market is led by the turf & ornamentals segment, followed by pond/lake color. Pond/lakes and turf & ornamental are the major applications for the agricultural dyes & pigments market. Pond water is generally cloudy, dull, and dirty brown in appearance. Thus, dyes and pigments are added to the lakes and ponds, which has special UV filtering properties that protect the ponds and lakes and maintains its natural color shading by limiting algae growth. Further, turf paint is preferred by most number of people for imparting lawns and gardens with color. Among the types of agricultural dyes & pigments, i.e., dyes and pigments, pigments accounted for the largest market share in 2014, followed by dyes.

The different government regulations in different countries related to the usage of agricultural dyes & pigments and growing environmental concerns such as contamination of groundwater and soil pollution may hinder the growth of the agricultural dyes & pigments market.

The key market players that dominated the agricultural dyes & pigments market include Bayer CropScience AG (Germany), BASF SE (Germany), Clariant International AG (Switzerland), Chromatech Incorporated (U.S.), and INCOTEC Group BV (The Netherlands). Most key participants have been exploring new regions through new product launches across the globe, to avail a competitive advantage through combined synergies.