According to a report published by Grand View Research, Inc.; the agro textiles market is likely to reach a valuation of around USD 12.77 billion by 2025. Growing population across the world has increased the demand for food crops. But, reducing arable land in developed countries is one of the key challenges in global agricultural sectors. Thus, rising need to improve agricultural productivity to fulfill these demands is expected to propel the market development during the forecast period (2018 to 2025). Using aggrotech products, such as technical textile products used in aquaculture, agriculture, horticulture, etc., can help enhance the crop yield and quality.
On the contrary, high investment costs along with the lack of awareness regarding the advantages of these textiles and fluctuating prices of raw materials, and may restrain the market growth. However, the advent of newer materials has resulted in innovations in shading and crop protection materials including floating covers, capillary nonwovens, etc. and this would drive the market demand over the next few years. The global agro textiles market can be segmented on the basis of product, application, and region. Based on product, the market can be segregated into mulch-mats, fishing nets, anti-hail nets and bird protection nets, shade-nets, and others.
Full Research Report On Agro Textiles Market Analysis:
Shading nets segment is expected to grow at a CAGR of 4.8 % during the estimated period. As per application, the market can be split into agriculture, horticulture and floriculture, aquaculture, and others. Agriculture segment is anticipated to expand at a healthy growth rate of 4.4 % from 2018 to 2025. Geographically, the market can be divided into North America, Europe, Asia Pacific, and Central and South America. Asia Pacific agro textiles market is likely to grow rapidly in terms of volume, as well as revenue. It is expected to register a growth rate of 5.1 % during the forecast years. Rising demand for food crops, mainly in India and South-East Asia is projected to boost the demand for agricultural textiles in this region.
In addition, rising demand for different types of fruits and vegetables like strawberries, cucumbers, and tomatoes is also expected to boost the region’s growth. Growing activities of commercial and industrial land acquisition in Malaysia, India, Indonesia, and Thailand for vegetation purpose has increased the demand for advanced mulch nets and green house demand. This is also expected to contribute toward the market development in the years to come. North America is likely to witness a significant expansion in the coming years. The aquaculture production in this region is estimated to grow on account of the increasing farming meat for shell fishe and increasing consumption of seafoods.
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In 2011, the National Oceanic and Atmospheric Administration (NOAA) and the U.S. Department of Commerce released national aquaculture policies to support sustainable marine aquaculture at domestic level. Thus, rising penetration of aquaculture in the U.S. is also expected to promote aggrotech demand for aquaculture application in North America. Europe is likely to have a sluggish growth over the forecast period. The Europe agricultural textiles market is driven by the supportive government regulations regarding the reusability of bio-based products and polymers. The demand for animal husbandry aggrotech products in the MEA region was valued at 3.8 kilo tons and is projected to expand further In 2016, demand in the Middle East and Africa was 3.8 kilo tons. It is likely to to grow at a CAGR of 2.4 % in the coming years.
Prominent players operating in the agro textiles market include Belton Industries, Inc.; B&V Agro Irrigation Co.; Neo Corp International Limited; Capatex; and Beaulieu Technical Textiles. Most of the prominent market players have undertaken several market strategies such including M&A and novel product development to maintain their market position. For instance, BASF SE had introduced a new light stabilizer called Chimassorb 2020 that enhances the durability of non-woven fabrics used in agricultural applications. It also offers enhanced heat stability and longer-lasting protection against UV light.
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