Global agricultural films market to reach USD 10.57 Billion by 2022

Date:10-09-2017

The global agricultural films market is estimated to be USD 7.92 Billion in 2017 and is projected to reach USD 10.57 Billion by 2022, at a CAGR of 5.9% from 2017 to 2022. Growing global population has led to an increased need for optimum agricultural productivity, which is consequently expected to boost the demand for agricultural films to increase yield and crop quality. In addition, increasing demand for agricultural films from the dairy industry is expected to further fuel the growth of the agricultural films market.

Based on type, the global agricultural films market has been segmented into Linear Low-density Polyethylene (LLDPE), Low-density Polyethylene (LDPE), Reclaim, Ethylene-vinyl Acetate (EVA), High-density Polyethylene (HDPE), and others. The Linear Low-density Polyethylene (LLDPE) segment is anticipated to lead the global agricultural films market during the forecast period, owing to advanced properties such as mechanical strength, moisture barrier, optical properties, and resistance to sunlight of LLDPE films. In addition, the thickness of these films is lesser than other films, making it suitable for agricultural applications, thereby fueling the growth of the agricultural films market.

Based on application, the global agricultural films market has been classified into greenhouse film, mulch film, and silage film. The greenhouse film segment is anticipated to lead the global agricultural films market between 2017 and 2022. The need for lighter and safer structures has been driving the agricultural films market in the greenhouse film application. Greenhouse films protect crops from UV rays and offer durability.

Based on region, the global agricultural films market has been segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and South America. Asia Pacific is expected to be a major market for agricultural film during the forecast period, owing to growing population and the increased demand for controlled agriculture in the region.

The high cost of installation of greenhouse films is one of the major factors restraining the growth of the global agricultural films market. A greenhouse structure is commonly used to cultivate horticulture crops during seasons when the climatic conditions are unfavorable for their growth. The high cost of installation of greenhouse films is restricting their use, primarily in the emerging countries. Key players operating in the agricultural films market include BASF (Germany), Dow Chemical (U.S.), Berry Global (U.S.), The RKW Group (Germany), Trioplast Industrier AB (Sweden), Ab Rani Plast Oy (Finland), RPC Group (U.K.), Grupo Armando Alvarez (Spain), Kuraray (Japan), and Coveris (U.S.).