Agricultural Films Market Predict to Reach US$ 15.7 Billion by 2026, at a CAGR of 6.5% – Exclusive Report by MarketsandMarkets™

Agricultural Films Market Predict to Reach US$ 15.7 Billion by 2026, at a CAGR of 6.5% - Exclusive Report by MarketsandMarkets™

“Browse 210 market data Tables and 67 Figures spread through 250 Pages and in-depth TOC on “Agricultural Films Market”
Agricultural Films Market by Type (LLDPE, LDPE, Reclaim, EVA, and HDPE), Application ((Greenhouse Film (Classic Greenhouse, Macro Tunnel), Silage Film (Silage Stretch Wrap), and Mulch Film (Transparent or Clear Mulch)) and Region

The agricultural film market size is estimated to be USD 11.5 billion in 2021 and is expected to reach USD 15.7 billion by 2026, at a CAGR of 6.5% during the forecast period. Factors such as a global focus on increasing agricultural output and increasing demand from the dairy industry will drive the agricultural film market. The major restraint for the market will be high cost of installation and the adverse effect of plastics on the environment. However, the increased use of biodegradable films in developed regions will act as an opportunity for the market.

Based on type, the agricultural films market is segmented as LDPE, LLDPE, HDPE, EVA, Reclaim, and other. LLDPE accounted for the largest share in the market. LLDPE is the most widely used type among PE films. These films can be blown or cast similar to LDPE. LLDPE films and sheets offer properties such as higher puncture resistance, high tensile strength, moisture barrier, resistance to sunlight & cracking, and suitable low-temperature properties. LLDPE films are replacing conventional LDPE in many areas due to their low production cost and high product performance. These films also have different applications in the packaging industry. Consequently, LLDPE films are replacing HDPE, as HDPE films are stiffer than LLDPE films, making the latter more suitable.

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Based on application, the agricultural films market has been segmented into greenhouse films, mulch films, and silage. The greenhouse is a temporarily, semi-permanently, or even permanently closed structure depending upon the technology used in it. In North America, greenhouses are closed, which are taxable with fully automated ventilation. These can also be non-permanent structures, which can be rolled outback. Greenhouses are also called hoop houses, which are non-taxable. The thickness of agriculture films ranges from 80 μm to 220 μm, and it is up to 20 meters wide. The shelf life of greenhouses varies from 6 to 45 months based on the photo stabilizer used. Classic greenhouse film, macro tunnels/ walking tunnels, and low tunnels are the sub-segments of greenhouses. Classic greenhouses films are automated and hence expensive.

On the basis of region, APAC is projected to be the largest market for agricultural films during the forecast period. Asia-Pacific has dominated the global agricultural films market. This dominance is attributed to the massive agricultural growth and increased demand for food in key countries such as China and India. Increasing population and rising per capita intake of food exert pressure on the agricultural output. The area under cultivation cannot be increased due to a decrease in arable land. Thus, the practice of controlled agriculture is essential to cater to the demand of the region’s rising population. The demand for agricultural films is growing, especially in Asia-Pacific and the Middle East & Africa. Thus, the markets in these regions are expected to register higher growth in comparison to other regions.

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The key market players profiled in the report include Berry Global Inc. (US), Kuraray Co. Ltd. (Japan), Coveris (Austria), The RKW Group (Germany), BASF SE (Germany), AB Rani Plast OY (Finland), the Dow Chemical Company (US), Grupo Armando Alvarez (Spain), and Plastika Kritis S.A. (Greece).

Players in the agricultural films market are mainly concentrating on new product launches, and acquisitions to meet the growing demand for agricultural films for various applications. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.

The growth of the agricultural films market has been influenced by new product launches that were undertaken between 2016 and 2020. Companies such as Berry Global and Kuraray Co. Ltd. have adopted inorganic developments to enhance their market position.

Berry Global is one of the major players in the agricultural films market. In order to strengthen their product portfolio, the company is focusing on acquisition for meeting client’s requirements. For instance, In august 2018, the company acquired laddawn, Inc. Laddawn is a manufacturer of blown polyethylene and films with an e-commerce platform. With this acquisition Berry Global Inc. aims to expand their engineered product segment on web and mobile sales. Similarly, Berry Global Inc, acquired RPC Group Plc with an aim to become the global leader in plastic and recycled plastic industry.

The companies also adopted Investment as a strategy to increase their share and market presence. For instance, in 2019, Berry Global Inc invests in an energy efficiency retrofit program to decrease the carbon emission, this investment is to support their impact 2025 sustainability strategy.

On the other hand, BASF SE, another major player in this market in November 2020, expanded its plastic additives business in Pontecchio. Italy, it will deliver a wider range of NOR solutions which will help in growing its agriculture industry.

Another player AB Rani Plast OY has launched new products in May 2020, RaniSilo2 is a silage film for protection and easier covering to ensure feed quality. Similarly, AB Rani Plast Oy launched a new oxygen barrier underlayer to reduce the air trapped in silage sheet.

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