Agricultural Films Market Segmentation & Growth Prospects Till 2024

Agricultural Films Market Segmentation & Growth Prospects Till 2024 “The global market size of agricultural films market in 2015 was USD 7.27 billion. The growing population and the increasing demand of food with the rise in agricultural productivity is driving the market over the forecast period.�

The global market size of Agricultural Films Market in 2015 was USD 7.27 billion. The growing population and the increasing demand of food with the rise in agricultural productivity is driving the market over the forecast period.

The factors which drive the market are requirement of high quality crop and declining arable land. These films are basically used for crop protection and increasing productivity. In order to fulfill the demand of population these agricultural films are in demand.

Application of agricultural films includes covering of a greenhouse, covering soil from shifting due to wind, film for water reservoirs, tunnel films and as a wrapper around fodder. Basic function it serves in agricultural are farming and crop production. The wide range of its specialized application led the commercialization of the product.

Blocking Ultra Violet (UV), florescent, NIR (Near Infrared) blocking, and ultra-thermic films are some of the major innovations that can impact positive product demand over the forecast years. Concerns regarding disposal of product is anticipated to be a hindrance on the future growth. Use of plastics and its derivate can adversely affect the market growth due to strict government policies in concern of clean planet.

The innovation of biodegradable and bio-based product films is expected to open new ways of manufacturing products for industry participants. Developed countries and their mindset on ecofriendly space for living is gaining demand for the product. Horticulture and development in technology in this field coupled with the development of UV protection films, single and multi-layer and particle to improve productivity is expected to lift product demand in future.

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Bio-PVC films and other modified products are going to develop immense opportunities for the industry over the forecast period.

Raw Material Insights LLDPE i.e. linear low-density polyethylene was the raw material segment in 2015 growing with the CAGR of 5.7% from 2016 t0 2024. With Properties like durability, finished products extended shelf life with high tensile strength, and improved thermal characteristics are expected to increase the market shelf life over the forecast period. The increasing use of biodegradable LLDPE films and its development is going to be the major market driver for its growth over the forecast period.

Browse Full Research Report @ https://www.millioninsights.com/industry-reports/agricultural-films-market Over 21% of the market in 2015 was accountable for LDPE film. LLDPE and LDPE (Low Density Polythene) are expected to witness high demand in regions such as Asia Pacific. Areas with limited water supply and harsh climatic conditions these products find a good market space to bloom.

HDPE i.e. High Density Polyethylene and EVA i.e. ethyl vinyl acetate/EBA i.e. Ethyl butyl acrylate films are used in rigid agricultural applications. Mulching and fumigation applications are mostly served by HDPE films.

Recycled films materials are reclaiming, as compared to other raw material used the price of this polymer is not competitive despite of its high tensile property.

Films manufactured from PVC i.e. Poly Vinyl Chloride and EVOH i.e. ethylene vinyl-alcohol have noncompetitive prices which result in less market penetration. Other reason which accounts for lesser penetration is lesser durability of finished products added with non-biodegradability of the products.

Application Insights Due to applications such as control on increased soil temperature, speeding up the germination and cultivation cycles, reduced water consumption and keeping fertilizers and nutrients closer to the plant mulching leads the segment and is accounted for more than 43% of total market space in 2015. Increasing demand of high-quality yield crops, health awareness and rising incomes is expected to move the industry.

The global agricultural films used in mulching is expected to reach USD 5752.5 million by 2024.

Greenhouse is projected to witness the rapid usages with the CAGR of 5.6% over the forecast period.

Agriculture based on greenhouse technology will be trending which will have positive effect on market in Asia,

Middle East, and Western Europe. With uncertain climate change due to multiple factors like population and industrialization demand for horticulture and floriculture segment will see more growth of these products.

Stretch silage due to durability, protection against the damage caused by sunlight, notably UV light and cost effectiveness serves as air tight package that in return restricts the unwanted fermentation for all agricultural products.

Regional Insights The Asia Pacific leads the market in this region led the global industry with iver 70% of the total demand.

Usage of mulch is done by over 80% of the farmers. Government supported initiatives in R&D for this product is the major driver of this product in this region. China is to witness the fastest growth over forecast period.

Stringent environmental policies regarding manufacturing, usage and disposal of this product in Europe will cause stagnant growth in near future. However, focus is shifting towards biodegradable materials in this region. Demand will be average in Central & South America. Developing economy like Brazil, India and Argentina with advancement in technology and implementation to achieve desired yield will cause the product penetration.

Competitive Insights Presence of small scale industry of this product segment regionally resulted in fragmentation of market space, especially in China and India. Major companies operating in the industry include BASF, BELLY’S, Novamont, BP Industries (BPI), Trio Plast, Armando Alvarez, ExxonMobil, Trioplast, Group Barbie, Britton Group, Kuraray, and Ab Rani PlastOy. Key players significantly plays a major part in the whole value chain. The major competitive factor is innovation that is the reason major companies have been investing immensely in R&D to differentiate themselves from competitors to increase their presence in the industry. Strategic collaborations with biotechnology firms to develop new polymers and enhancing supply chain efficiency are also used by companies to have competitive advantages including M&A.

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