Press release
Agricultural Films Market Soaring at 8.4 %CAGR During the Period 2017-2022
Agricultural Films Market Size By Product (Heavy Duty, Aeroderivative), By Capacity (- 70 MW, 70-300 MW, -300 MW), By Technology (Open Cycle, Combined Cycle), By Application (Power Generation, Oil & Gas, Other Manufacturing), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Russia, Italy, Germany, France, China, India, Japan, South Korea, Saudi Arabia, UAE, Egypt, Algeria, Brazil, Argentina), Price Trends, Competitive Market Share & Forecast, 2016 - 2022Global agricultural films market share from LLDPE product is set to witness growth over 6% by 2022. Properties like moisture blocking and flexibility coupled with affordable prices will drive the business growth. Growing agricultural sector in Indonesia, India, Thailand and Malaysia along with development of agro-based businesses will boost the demand.
Agricultural Films Market size is set to surpass USD 12 billion by 2022, as per a new research report by Global Market Insights, Inc.
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Favorable initiatives towards improvement of farming methods to boost crop yield coupled with limited availability of arable land will stimulate global agricultural films market size in future. Durability, anti-fog, transparency, degradation, diffusion and thermal effects are some of the advantages offered over available alternatives. Innovative products like florescent films, NIR blocking, ultra-thermic and UV blocking will further complement the industry landscape.
Development of environment friendly polymer products will give a profitable opportunity to agricultural films market industry participants. Effective disposal of polymer based products is a restraint for business growth and to counter this, numerous research projects have been sanctioned to develop eco-friendly products. Bio based products eco-friendly, further boosting industry growth.
Agricultural films market demand from LDPE product is predicted to exceed 800 kilo tonnes till 2022. Increasing adoption of LDPE in farming on account of its advantages during harsh climate conditions and scarce water supply. HDPE product exceeded 350 kilo tons by 2015, owing to wide adoption in fumigation and mulching applications. Flourishing horticulture and floriculture industry in Middle East region will drive demand due to unfavourable climate conditions.
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Agricultural films market from mulching applications will register growth of over 6% and exceed 3 million tons over forecast period. Mulching maintains the soil’s water retention capacity, soil temperature, and restricts unwanted growth. Additionally, it catalyzes better quality plant growth.
North America will witness over 5% growth. Growing greenhouse applications along with limited availability of arable land will drive industry demand. U.S. market by silage applications will witness over USD 300 million by 2024.
Films used for silage applications improves milk production and complements the nutrients in animal feed.
Europe agricultural films market will experience slow growth due to limited availability of arable land. The European Standards Board has introduced stringent regulations to curb rampant plastic use, which will further drive the business growth.
China agricultural films market size is expected to exceed USD 6 billion till 2022. Optimistic initiatives towards research and development of effective farming techniques will encourage product demand.
Agricultural films market share has low concentration. Key industry players include Hyplast, Ab Rani Plast, Kuraray, Novamont, Berry Plastics and Trioplast are notable companies in the market. Other companies are British Polyethylene Industries, BASF, Barbier Group and Dow Chemicals.
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