Agricultural Films Market Is Forecasted To Reach A Revenue Of US$ 21 Billion By 2034

The global agricultural film market is projected to be valued at US$ 11.78 billion in 2024 and is expected to grow to US$ 21 billion by 2034. The worldwide sales of agricultural films are anticipated to increase at a CAGR of 5.9% over the next decade.

Agricultural films are used to protect crops in greenhouses or fields from external damage. The increasing global population is driving higher demand for food, which is expected to significantly boost the sales of agricultural films over the long term.

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The growing adoption of sustainable farming practices by farmers is also predicted to enhance the global shipments of agricultural films in the future. Other factors that could bolster the demand for agricultural films through 2034 include substantial investments in agriculture, the introduction of innovative agricultural films, environmental changes due to climate change, rising acceptance of novel agricultural practices, and the declining availability of arable land.

High Cost of Manufacturing and Ban on Use of Plastic Raw Materials
As the world moves towards a sustainable future, all industry verticals are striving to eliminate plastic waste. This presents a significant challenge for agricultural film companies, as most agricultural films are currently made using some form of plastic. Bans on the use of plastics in various countries are expected to create difficulties in sourcing raw materials for agricultural film production in the future.

The production and use of non-biodegradable films continue in underdeveloped and developing economies. Furthermore, the high development and production costs of biodegradable films pose a major challenge compared to other types.
Additionally, the installation cost of greenhouse films is higher than other alternatives. This high cost of installing greenhouse agricultural plastic films is another factor restraining the global agricultural film market growth through 2034.

Key Companies Profiled:
• BASF SE
• RPC Group PLC
• RKW Group
• Trioplast Industries AB
• Berry Global Inc.
• Achilles Corporation
• Exxon Mobil Corporation
• Ab Rani Plast Oy.
• CI Takiron
• Dow Inc.

Biodegradable Agricultural Films to Be Highly Sought After

The United States, a major exporter of various agricultural products, is a lucrative market for agricultural film companies. The country's increasing emphasis on sustainability has driven the adoption of sustainable farming practices, which require the use of agricultural films and other advanced agricultural products.
To maximize revenue potential through 2034, agricultural film suppliers should focus on providing biodegradable agricultural films and films made from eco-friendly materials in the United States.

Competitive Landscape
Leading agricultural film brands are focusing on launching new products that are compliant with the evolving sustainability mandates that are being implemented around the world.

• In November 2023, Coveris announced the launch of Unterland R, a sustainable stretch film for silage bale wrapping applications. Unterland R offers improved sustainability that effectively satisfies the rising demand for sustainable baling products for the agriculture sector.
• In January 2022, ExxonMobil and SABIC, as part of a joint venture invested US$ 10 billion to create a manufacturing facility in San Patricio County, Texas. The facility was intended to manufacture materials used for agricultural films, packaging, construction, and other applications.

Key Segments of Agricultural Film Market Research
• By Type :
o Geomembrane
o Silage
o Mulch
o Greenhouse Plastic/Covering Films

• By Material :
o Ethylene Butyl Acrylate
o Ethylene-Vinyl Acetate
o Low-Density Polyethylene
o LLDPE
o Polypropylene
o Polyamide
o Ethylene Vinyl-Alcohol Copolymer Resins
o PVC
o Others

• By Application :
o Bale Wrapping & Ensiling
o Silo Bag Manufacturing
o Tunnel Covers
o Bunker Ensiling
o Others

• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa

Read More: https://www.factmr.com/report/3450/agricultural-films-market

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