The Agricultural Films Market is projected to reach USD 15.7 billion by 2026, at a CAGR of 6.5% from USD 11.5 billion in 2021. Protective films that are placed over soil, cover greenhouses, and wrap fodder are called agricultural films. Growing agricultural productivity has led to increased demand for these films. Agricultural films help in reducing soil erosion, maintain soil temperature, suppress the growth of weeds, and protect the soil against UV rays.
LLDPE is the largest type segment of the agricultural films market. APAC was the largest market for agricultural films in 2020, in terms of both volume and value. Factors such as global focus on increasing agricultural output and increasing demand from the dairy industry will drive the agricultural films market.
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Players in the flame retardants market for engineering resins market are mainly concentrating on new product launches, and acquisitions to meet the growing demand for flame retardants for various applications. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
The growth of the flame retardants market for engineering resins market has been influenced by new product launches that were undertaken between 2016 and 2020. Companies such as BASF SE and Huber Engineered Materials have adopted inorganic developments to enhance their market position.
Clariant AG is one of the major players in the flame retardants market for engineering resins. In order to strengthen their product portfolio, the company is moving towards sustainable flame retardants in the construction application. For instance, in 2019, Company started developing oligomeric and reactive phosphorous compounds for polyurethane and polyisocyanurate and polyamides. In 2020, the company collaborated with Floreon to expand its high-performance biopolymer applications to additional markets. Company also collaborated with Lavergne and developed halogen free compounds from ocean bound plastics with a high-performance life for plastic waste. With these developments Clariant AG aims to become the global leader in flame retardants market for engineering resins market.
On the other hand, LANEXESS AG has launched new products in 2019, Phosphorus based flame retardants, a sustainable flame retardant used in the construction application. Company also acquired IPEL productos Especiais Ltd., a biocide manufacturer from Brazil which can enhance LANXESS’s position as one of the largest producers and manufacturers of speciality additives.
Another player, BASF SE, another major player in this market. In 2020, company launched phosphorous-based flame retardant, which are majorly used in construction industry, electrical & electronic applications. Company also aims to enhance its chemical production with its joint venture with Sinopec Group.
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