Globally Agricultural Films Market Overview:
Agricultural films are used for layering greenhouses and are used to seal over soil or wrapped around fodder. They are used for enhancing the crop grade and increasing overall yield. Rising need to upsurge agricultural product output to fulfill the day-to-day demand of population has led to commercialization of these specialty coverings.
Globally Agricultural Films Market Size:
According to Market Data Forecast, The Global Agricultural Films range is around USD 10.52 billion in 2018. It is estimated to grow at a CAGR of 6.3% to increase approximately up to USD 14.28 billion by 2023.
Drivers and restraints:
The drivers influencing the growth of the Agricultural Films market globally are, Rising demand for food due to increase in population tied with the rising necessity for ideal agricultural productivity, The rise in demand for first-class crop and weakening in arable land is expected to raise product demand over the coming years. Numerous innovations in the industry, including Ultra Violet (UV) blocking, fluorescent, NIR blocking, and ultra-thermic films are likely to influence product demand certainly over forecasted period.
There are also few restraining factors due to which the market facing challenges, they are environmental challenges regarding product dumping and strict government regulations concerning plastics and polythene.
Partition of the Market:
Agricultural Films Market is partitioned globally according to Type and Applications. With respect to type the market is partitioned 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, the 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 the 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. With respect to application, market is partitioned 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 an increase in demand for high-quality crop and rise in disposable incomes are expected to drive the industry. The 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.
Topographically, The Agricultural Films Market has been partitioned into Latin America, Europe, Middle East, North America, and Asia Pacific & Africa. North-America tops the market holding major portion of the share. Asia-Pacific is likely to grow the most in the coming years. Europe is projected to witness quiet growth in near future owing to strict environmental regulations concerning film disposal and manufacturing.
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Key players of the market:
Prominent players in Agricultural Films 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.
Scope of the Report:
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