Market Synopsis of Agricultural Films Market:
Agricultural Films are made to withstand the uncertainties of weather conditions by providing an effective vapor and UV barrier, and by controlling weed growth around the crops. The key drivers of Global Agricultural Films Market are the growing demand for agricultural produce. The growth in population with the increasing disposable income demands increased produce from the farms. This is backed by the awareness among the consumers about the high-quality food crop and prevention of soil erosion. This further augments the market for such films across the Agricultural sector.
The share of greenhouse films by application accounts for the largest share in the market. Growing greenhouse agriculture in Asia, Europe and Middle East is expected to drive the market growth. On the basis of material, LLDPE holds the largest share followed by EVA/EBA. The market is fueled majorly by the demand arising out of APAC, especially India and China. The Global Agricultural Films Market size was valued at around USD 9 Billion in 2015 and is expected to cross USD 13 Billion at CAGR of 7% by 2022.
Agricultural Films use plastic materials in various agricultural applications. The increasing population and increasing demand for agricultural produce globally drive the market for such films majorly in the regions of APAC. The regions constitute highly agricultural dependent economies along with increasing disposable income. This calls for increased volume of the crops, cereals and other produce from the region.
The report has analyzed the market based on the two segments: material and application in the regions of North America, Europe, APAC and rest of the world. On the basis of material, LLDPE has the largest market share. The share is attributed to high-durability and extended shelf life of finished products. On the basis of application, greenhouse films account for the largest share both by value and volume due to the increasing adoption of greenhouse agriculture practice across the globe. The scope of the market has widened over many years owing to the flourishing markets of APAC.
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Agricultural films are used extensively for covering greenhouses and soil and also wrapped around fodder. These films help in improving crop quality and increasing overall productivity of the land. The need to improve the productivity in the agricultural industry is directly correlated to the increasing demand for agricultural produce across the globe. There is a growing need for high-quality food crop by the average population.
Additionally, the film helps in increasing the area of controlled agriculture by providing materials that drive farming. These flexible and easy to produce materials are expected to benefit farmers and be demanded increasingly. The increased awareness about soil erosion and soil protection induces the growth of the market. The properties of these films such as reducing the risk of seed germination, decreasing soil erosion, raising soil temperature, and protecting against UV rays helps the increasing the popularity among the farmers.
The market is highly driven by the increasing greenhouse framing practices and the demand from the APAC region. The region is seen as highly potential market for the agricultural films and is expected to show even better market share by the forecasted period. The global agricultural films market is expected to grow from about USD 9 Billion in 2015 to cross USD 13 Billion by the end of 2022, growing at a CAGR of 7% in the forecasted period.
Market Research Analysis:
The market is highly application based. The key driver for market growth is increased emphasis on global agricultural output due to the rising food demand of the increasing population. This is backed by the need to facilitate the area of controlled agriculture by providing materials that drives farming. It is expected that the global agricultural films market will advance with higher growth rate as compared to previous years. However the current challenge for the market is the harmful effect of these plastic films on the ecology.
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On the basis of application, greenhouse film leads the market in all the major regions across the globe. The share owes to the growing demand for eco-friendly farming, floriculture & horticulture and uncertain climatic conditions. Additionally, Silage films provide an airtight protection which avoids food spoilage. The demand for silage films is estimated to increase due to increased need for good quality barrier films. This induces the demand for agricultural films.
On the basis of region, APAC takes the lead as the largest and fastest growing market, followed by North America and Europe. It accounts for over 75% of the global consumption. APAC, due to its rising population and increasing disposable income, demand high volume of food crops and other cultivated produce. Furthermore the government initiatives taken for agricultural reforms augment the demand for the plastic films from the region. The region has also seen a lot of investment in R&D to protect the health of the crop and soil, which further fuels the growth of the market.
Key Points from Table of Contents:
10. Company Profiles
10.1 The Dow Chemical Company
10.1.3 Product Portfolio
10.1.4 Business Strategies
10.1.5 Recent Development
10.2 ExxonMobil Corporation
10.2.3 Product Portfolio
10.2.4 Business Strategies
10.2.5 Recent Development
10.3 BASF SE
10.3.3 Product Portfolio
10.3.4 Business Strategies
10.3.5 Recent Development
10.4 British Polythene Plc.
10.4.3 Product Portfolio
10.4.4 Business Strategies
10.4.5 Recent Development
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