Global Agricultural Films Market is on the rise in developed regions such as North America and Europe are expected to grow at a high degree in the near future, said by Market Data Forecast
The Global Agricultural Films market is anticipated to grow at a 6.30% CAGR from 2016 to 2021 and it is estimated that the global market was valued at USD 9.31 billion in 2016 and is relied upon to achieve USD 12.64 billion by 2021.
Agricultural films are used for covering greenhouses and are used to cover over soil or wrapped around fodder. They help in improving crop quality and increasing overall productivity.
Rising need to increase agricultural productivity to fulfil the daily demand of population has led to commercialization of these specialty coverings.
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Growing demand for food owing to increase in population coupled with the rising requirement for optimum agricultural productivity is expected to drive market growth. Rise in demand for high quality crop and decline in arable land are projected to raise product demand over the coming years.
Various innovations in the industry, including Ultra Violet (UV) blocking, florescent, NIR blocking, and ultra-thermic films are expected to impact product demand positively over the next few years. However, environmental concerns regarding product disposal and stringent government regulations regarding plastics and polythene is anticipated to hinder growth in near future and affect agricultural films market growth.
Be that as it may, the introduction of biodegradable and bio-based polymer films is expected to create lucrative opportunities for industry participants over the next few years. Biodegradable agricultural films are getting popular in eco-friendly regions.
Technological advancements in horticulture coupled with the development of particle, multi-layer, and UV protection films to improve agricultural productivity is anticipated to raise product demand over the foreseeable future.
The global market for Agricultural Films is segmented into type and application. On the basis of type, it is segmented into LLDPE, LDPE, Reclaim, EVA and HDPE.
LLDPE has the largest market share in this segment and is anticipated to witness the fastest growth. Factors such as high-durability, extended shelf life of finished products with high tensile strength, and improved thermal properties are expected to increase market growth.
Meanwhile, LLDPE and LDPE are expected to witness high demand in Asia Pacific, especially in China due to their applications being highly beneficial in areas with limited water supply and harsh climatic conditions. HDPE and EVA/EBA films are used in agricultural applications, where rigidity is desired.
PVC and EVOH have low market penetration owing to non-competitive prices and low durability of finished products coupled with non-biodegradable nature of the products. On the basis of application, it is segmented into Greenhouse Film, Mulch Film, and Silage Film.
Mulch film emerged as the leading application segment and accounted for the largest share in the market. Factors such as increase in demand for high-quality crop and rise in disposable incomes is expected to drive the industry.
Greenhouse is projected to witness the fastest growth. Growing greenhouse agriculture in Asia, Middle East, and Western Europe is expected to have a positive impact on the market growth.
Growing demand for floriculture & horticulture and uncertain climatic conditions are expected to increase market penetration. Greenhouse films also help in improving productivity and plant cultivation.
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On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia-Pacific and Middle East and Africa. North-America hold the largest share in the market, owing to its technological advancements in agricultural sector and heavy investment in research and development of protected Agricultural practices.
Asia-Pacific is expected to grow the most in the coming years. Europe is expected to witness stagnant growth in near future owing to stringent environmental regulations regarding film disposal and manufacturing
Some of the major companies dominating the market are The Dow Chemical Company, BASF SE, ExxonMobil Corporation, RKW SE, Berry Plastic Group Inc., Grupo Armando Alvarez, British Polythene Industries Plc., and Barbier Group.
Reasons to access Global Agricultural Films market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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