The global agricultural films market is
expected to reach USD 13.85 billion by 2024, according to a new report by Grand
View Research, Inc. 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.
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.
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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Further key findings from the study suggest:
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
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.
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.
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.
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.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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Grand View Research, Inc
Phone: 1-415-349-0058
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