Agricultural Films Market to be valued at US$ 25.1 Bn by 2031, TMR Report
- Superior product attributes of usability in remote areas and zero electricity requirement substantiate development of low-cost agricultural films
- Critical advantages of agricultural films to provide desirable climate and maintain nutrients in the soil leading to increased agricultural production by 20% to 35% swells demand
WILMINGTON, Del., July 21, 2022 /PRNewswire/ — TMR report for the demand analysis of agricultural films market estimates a CAGR of 7.4% for the forecast period from 2022 to 2031. Array of advantages of agricultural films that have led to their use in modern farming for improved crop yield fuels the growth of agricultural films market.
Steady evolution of farming practices, which includes increasing construction of greenhouses is creating opportunities in the agricultural films market. Increasing use of agricultural plastic mulch, farm films, or agricultural mulch films that are used to provide desirable climate, and preserve nutrients in the soil by maintaining moisture content to redefine agricultural films market outlook. This is because use of greenhouses, mulching, and silage bags increases agriculture production by 20% to 35%, according to published data.
Burgeoning demand for food such as grains, fruits, and vegetables for the exploding global population is necessitating to maximize the agricultural output. The use of agricultural plastic films serves to increase farm production. So much so, plastic film for agricultural applications has enabled to transform unproductive land into productive farmland.
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Launch of novel products is the focus of players in the agricultural films market. Environmental regulations compel manufacturers to assess the benefits of biodegradable plastic films. Development of low-cost agricultural films such as nano-greenhouse films for their usability in remote areas gathers steam. These collectively are emerging trends in the agricultural films market.
Asia Pacific is a key region in the agriculture films market. Presence of several agriculture-based economies, along with increasing practice of adoption of modern agriculture and horticulture practices, to sway largest opportunity of the agricultural films market in the region during the forecast period.
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Agricultural Films Market – Key Findings of the Report
- Thrust on the agricultural sector to feed the exploding world population projected to be 9.7 billion by 2050 substantiates the uptake of modern agricultural practices. Installation of greenhouses is reckoned to be most effective way to protect the harvest from unexpected seasonal change, and to maintain internal temperature. This drives sales of agricultural films.
- Adverse effect of global warming on agricultural produce is necessitating the adoption of artificial climate control techniques. Agricultural films help to maintain ambient conditions for crops, fruits, and vegetables. In particular, greenhouse films provide the desirable interior environment for farming, while silage bags help preserve nutrient value.
- The LLDPE product segment led the agricultural films market with 61.3% share in 2021. Array of physical properties makes LLDPE key product in the manufacture of agricultural films such as mulch, greenhouse, and silage.
- Europe is a key region in the agricultural films market. The region held 28.5% share of agricultural films market in 2021.
- Large players in the agricultural films market engage in M&As for competitive advantage. For instance, CNH Industrial N.V. acquired Raven Industries Inc. with the specialization of the latter in precision agriculture technology and high-performance specialty films.
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Agricultural Films Market – Growth Drivers
- Crucial advantage to increase agricultural yield for the food needs of exploding global population underscores growth in agricultural films market
- Swelling demand for greenhouses to protect crop from unseasonal climatic fluctuations, and maintain internal temperature stimulates growth
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Agricultural Films Market – Key Players
Some of the key players operating in the agricultural films market are;
- BASF SE
- Exxon Mobil Corporation
- Ab Rani Plast Oy
- NOVAMONT S.P.A
- Berry Global Inc.
- RPC GROUP PLC
- RKW Group
- Trioplast Industrier AB
The agricultural films market is segmented as follows;
Agricultural Films Market, by Product
- Others Films
Agricultural Films Market, by Application
Agricultural Films Market, by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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