According to a new report, “Agricultural Films Market Analysis By Raw Material (LDPE, LLDPE, HDPE, EVA/EBA, Reclaims), By Application (Green House, Mulching, Silage) And Segment Forecasts To 2024”, published by Grand View Research, Inc., the global agricultural films market is expected to reach USD 13.85 billion by 2024. Growing population is anticipated to exert pressure on agricultural productivity. These films are used to enhance the productivity and improve crop quality by minimizing soil erosion, providing nutrients, and suppressing weed growth. They are primarily made of polyethylene. Growing consumer disposable income coupled with the rising high-quality crops demand is anticipated to drive the market growth over the forecast period.
Key Takeaways from the report:
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The global agricultural films market demand 5.15 million tons in 2015 and is expected to reach 8.28 million tons by 2024, growing at a CAGR of 5.4% from 2016 to 2024
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Linear low-density polyethylene (LLDPE) was the major raw material segment in 2015 and is expected to reach a market worth USD 7.29 billion by 2024, growing at a CAGR of 8.0% from 2016 to 2024. The high growth may be attributed to the growing demand for these films in Asia Pacific.
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Low-density polyethylene (LDPE) is projected to grow at a CAGR of 7.3% from 2016 to 2024. The high growth may be attributed to their use in agriculture areas with harsh climatic conditions and limited water supply.
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Asia Pacific was the leading consumer and accounted for 70.1% of global revenue in 2015 owing to rising consumer disposable income coupled with favorable government initiatives in the agriculture sector.
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Major companies operating in the global agricultural films industry include AB Rani last Oy, AEP Industries, Al-Pack Enterprises, BASF, Berry Plastic Group, Inc., British Polyethylene Industries PLC, Novamont S.PA, RKW and Triplast Industrier AB.
U.S. agricultural films market revenue, by raw material, 2014 – 2024 (USD Million)
Depleting arable land is expected to impact market growth positively over the next eight years. Protective films are placed over soil, covered over greenhouses and wrapped around fodder. Various benefits offered by agricultural films including reducing the risk of seed germination, decreasing soil compaction, raising soil temperature, providing nutrients, and protecting against UV rays. These advantages are expected to raise product demand in near future.
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Agricultural films for green house dominated the global demand and accounted for 42.9% of total revenue in 2015. This trend is anticipated to continue over the forecast period on account of rising demand from emerging economies such as China and India.
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Grand View Research has segmented the agricultural films market on the basis of raw material, application and region:
Global Agricultural Films Raw Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)
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Low density polyethylene (LDPE)
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Linear low density polyethylene (LLDPE)
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High density polyethylene (HDPE)
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Ethyl vinyl acetate/ ethyl butyl acrylate (EVA/EBA)
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Reclaims
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Others
Global Agricultural Films Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)
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Green house
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Mulching
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Silage
Global Agricultural Films Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)
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North America
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U.S.
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Canada
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Mexico
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Europe
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Germany
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UK
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France
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Italy
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Spain
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Asia Pacific
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China
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India
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Japan
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Central & South America
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Brazil
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Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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