Press release
Greenhouse Film Market to Witness Strong Growth, Anticipated at $8.52B by 2028 at a compound annual growth rate (CAGR) of 8.3% || BASF SE, Berry Global Inc
Greenhouse Film Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the greenhouse film industry. This report on greenhouse film market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The greenhouse film market size has grown strongly in recent years. It will grow from $5.7 billion in 2023 to $6.21 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to crop yield enhancement, extended growing seasons, resource efficiency, crop protection, energy conservation. The greenhouse film market size is expected to see strong growth in the next few years. It will grow to $8.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
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Key Market Players:
BASF SE, Berry Global Inc., EIFFEL Industry Plastics S.p.A, Essen Multipack Limited, Exxon Mobil Corporation are prominent players in the greenhouse film industry.
Market Drivers:
According to the Greenhouse Film Market Report 2023 by The Business Research Company, the key factors driving the growth of the greenhouse film market, includes the rising demand for food production. Food production is the process of producing sellable food items using raw ingredients available from plants and animals. Plastic greenhouses would help to increase and secure the yield. For instance, in April 2022, according to Agriculture Victoria, an Australia-based innovation company for economic growth in Victoria's agriculture through leading science and strong science capacity data, representing 26.0% of Australian food and fiber export value. Victoria's food and fiber exports have increased to reach a record $14.5 billion for the 2019-20 periods.
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Market segments for greenhouse film include:
1) By Resin Type: Low Density Polyethylene (LDPE), Linear Low Density Polyethylene (LLDPE), Ethylene Vinyl Acetate (EVA)
2) By Functionality: Diffused GHF, Photo-Selective GHF, Anti-Dirt GHF, Other Functionalities
3 By Width Type: 4.5 Meter, 5.5 Meter, 7 Meter, 9 Meter, Others Width Types
4) By Thickness: 80200 Microns
5) By Application: Vegetable, Fruit, Flower, Others (Transplants and Ornamental)
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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