Global Greenhouse Film Market worth US$ 6,900 Mn by 2025

Transparency Market Research has released a new market report titled “Greenhouse Film Market (By Thickness – 150 microns; Resin Type – LDPE, EVA/EBA, LLDPE, PVC, Others; Application – Vegetables, Flowers & Ornamental, Fruits; Region – North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. According to the report, the global greenhouse film market is projected to be worth US$ 6,900 Mn by 2025, expanding at a CAGR of 8.1% from 2017 to 2025. Greenhouse film covers the frame of a greenhouse where crops are cultivated. It defends the crops from extreme temperatures, diseases and pests, and provides them with suitable growing conditions.

Increase in adoption of greenhouse cultivation for high yield of crops is boosting the demand for greenhouse films

Temperature plays a crucial role in greenhouse cultivation. Climatic conditions such as fluctuating temperatures, humidity, wind, rain, and snow affect the yield of crops. Excess or lack in any of these conditions can have a negative impact on crops. Greenhouse films covering greenhouse structures help in cultivation of crops at a time of the year when they cannot be grown outdoors. However, greenhouse cultivation involves additional investment such as heating system in greenhouses during winter, labor cost, etc. Additional resources required for greenhouse cultivation include heating and ventilating systems for balancing temperatures, pollination, electricity, and water. Government of various countries are encouraging farmers to adopt greenhouse farming, thereby boosting the demand for greenhouse films. Governments of India, Canada, Poland, etc. are providing subsidies to farmers for greenhouse farming, electricity, heating system in greenhouses, etc.

The global greenhouse film market can be segmented based on resin type, thickness, and applications. On the basis of resin type, the greenhouse film market can be divided into low-density polyethylene (LDPE), ethylene vinyl acetate (EVA) or ethylene butyl acrylate (EBA), linear low-density polyethylene (LLDPE), polyvinyl chloride (PVC), and others. Other resins include polycarbonate and high-density polyethylene (HDPE). The LDPE resin segment constituted the dominant share of the greenhouse film market, in terms of volume and revenue, in 2016. In terms of thickness, the global greenhouse film market can be classified into greenhouse films 150 microns. Greenhouse films with thickness more than 150 microns accounted for a major share of the greenhouse film market in 2016. The trend is expected to continue during the forecast period. Applications of greenhouse films include vegetables, flowers & ornamental, and fruits cultivation. Greenhouse films were primarily used for vegetable cultivation in 2016. The trend is anticipated to continue during the forecast period.

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Asia Pacific anticipated to dominate the greenhouse film market by 2025

In terms of revenue, Asia Pacific led the greenhouse film market in 2016 and is expected to continue its dominance during the forecast period. The region is expected to witness a healthy growth in greenhouse cultivation. China accounted for a major share of the greenhouse film in Asia Pacific owing to the increase in adoption of greenhouse farming. Asia Pacific was followed by Europe which has a mature greenhouse film market. Spain, Italy, and Poland were the major consumers of greenhouse film in Europe in 2016. Other key consumers of greenhouse film in Europe are the Netherlands, Greece, and France. The U.S. dominated the greenhouse film market in North America in 2016 with nearly equal consumption of greenhouse film for cultivation of vegetables and flowers. The U.S. was followed by Canada in terms of demand for greenhouse films in 2016. The trend is expected to continue during the forecast period. In Latin America, Mexico and Brazil were the major markets for greenhouse film in 2016. These countries are expected to retain their position in the market during the forecast period.

Middle East & Africa is considered a lucrative market for greenhouse films owing to the rise in adoption of greenhouse cultivation and increase in awareness about greenhouse technology in Israel, Turkey, and Iran. The greenhouse film market in the region is expected to expand at a significant CAGR during the forecast period. Turkey accounted for a major share of the greenhouse film market in Middle East & Africa in 2016 and is anticipated to retain its dominance during the forecast period.

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Greenhouse film industry heading toward consolidation through mergers & acquisitions

In 2017, Berry Global Group signed a purchase agreement to acquire all outstanding shares of Clopay Plastic Products Company, Inc. for approximately US$ 475 Mn. POLIFILM acquired Folag Vietnam in 2016. POLIFILM also acquired WMS-Folien GmbH, a Germany-based manufacturer of packaging films, in 2016. A merger of equals deal was signed between the Dow Chemical Company and DuPont in 2017. These mergers and acquisitions are expected consolidate the fragmented greenhouse film market. Plastika Kritis S.A. increased its capacity by investing US$ 13.2 Mn in creating a new production unit with seven-layer technology that started operations in 2015. Key companies operating in the global greenhouse film market include Berry Global Group, Inc., BASF SE, RPC BPI Group, Barbier Group, RKW Hyplast NV, and Plastika Kritis S.A.

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