Low-density Polyethylene Agricultural Films Is Estimated to Account for 55.7% of the Market Share by 2031-end

As per a revised report published by Fact.MR, a market research and competitive intelligence provider, the global demand for agricultural filmsis anticipated to exceed a valuation of US$ 10 Bn by 2021, and expand at an impressive CAGR of 5.7% over the forecast period of 2021 to 2031.

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The market is in the growth phase of its lifecycle, registering 3.5% CAGR during 2016 - 2020. Fact.MR anticipates significant potential in the market, owing to factors such as increasing plastic waste recycling and growing demand for bio-degradable solutions.

As a result of environmental pollution due to plastic and its substitutes utilized in several applications, regional policies across the globe are focusing on reducing heavy plastic use. Globally, over 6.5 million tons of plastic is utilized in the agricultural industry, and China is one of the highest contributors for the same. Most manufacturers of agricultural films are focused on reducing raw material use and increasing recycling either by collaborating with recycling companies or by setting up their own recycling plants.

“Agricultural film demand is gaining traction across several nations with unfavourable climate for crop production, aiming to reduce import dependency,” says a Fact.MR analyst.

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Key Takeaways from Market Study

The global agricultural films market is expected to grow 1.7X in value, creating an absolute $ opportunity of around US$ 7.5 Bn by 2031.

In terms of value, silo bags manufacturing application is expected to register a CAGR of 5.9% to be valued at US$ 6.5 Bn by 2031-end.

Among the film types, mulch films and greenhouse plastics are expected to grow 1.9X and 1.7X, respectively, and create an absolute $ opportunity of around US$ 4.2 Bn and US$ 2.5 Bn each.

Low-density polyethylene material is estimated to account for 55.7% of the market value share by 2031-end, and gain 409.1 BPS in its market share.

East Asia is witnessing for highest consumption and the market here is expected to expand at a CAGR of 6.9% over the forecast period. The region is expected to hold more than 52% of the market value share by 2031 and be valued over US$ 9.3 Bn.

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Key Segments Covered in Agricultural Films Industry Research

By Film

Geomembrane
Agricultural Silage Films
Agricultural Mulching Films
Greenhouse Plastic/Covering Film

By Material

Ethylene Butyl Acrylate Agricultural Films
Ethylene-Vinyl Acetate Agricultural Films
Low-Density Polyethylene Agricultural Films
LLDPE Agricultural Films
LLPE Agricultural Films
HDPE Agricultural Films
Polypropylene Agricultural Films
Polyamide Agricultural Films
EVA Agricultural Films
Ethylene Vinyl-Alcohol Copolymer Resins
PVC Agricultural Films
Others

By Application

Agricultural Films for Bale Wrapping & Ensiling
Agricultural Films for Silo Bags Manufacturing
Agricultural Films for Tunnel Covers
Agricultural Films for Bunker Ensiling
Others

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Pricing Strategy

The global agricultural films market is highly fragmented with new players springing up every year owing to rising potential of the product. With new entrants coming into the market, prices are set to normalize at the lower end, thus shrinking manufacturer ability to capture higher margins from the films produced. Therefore, manufacturers should focus on debottlenecking and adoption of recycled plastic to enjoy higher margins over the medium term.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global agricultural films market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.

The study reveals essential insights on the basis of film (geomembrane, silage, mulch, and greenhouse plastic/covering film), material (ethylene butyl acrylate, ethylene-vinyl acetate, low-density polyethylene, LLDPE, polypropylene, polyamide, ethylene vinyl-alcohol copolymer resins, PVC, others), and application (bale wrapping & ensiling, silo bags manufacturing, tunnel covers, bunker ensiling, others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

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