- Geomembrane, Silage Films, Mulch films and Greenhouse Covering to Remain Priority Product Group for Agriculture Film Producers
- The agricultural films market study is indented to identify key factors affecting growth across segments, including types and materials. It also highlights strategies adopted by vendors to increase sales in the agricultural films market.
NEW YORK, Aug. 3, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global agricultural films market is poised to grow at a CAGR of 6% between 2021 and 2031. Fact.MR predicts the overall sales to hit US$ 10 Bn by the end of 2021. Agricultural films sold for manufacturing silo bags will total US$ 6.5 bn by 2021.
According to the study, the global agricultural films market registered a CAGR of 3.5% during its historical period of 2016 to 2020. The rising demand in the U.S., Japan, India, and China will continue presenting growth opportunities.
Coupled with this, sales will soar as focus on environmentally-friendly and biodegradable solutions multiply in the agricultural sector. Market value will increase at an impressive pace as some of the leading manufacturing adopt latest technologies to offer more sustainable solutions.
The advent of agricultural film laying machines has made this possible, enabling effortless and more precise production of films, that too on a large scape. These developments will bode well for the market, bolstering sales prospects through forecast period.
Growing adoption of agricultural films such as greenhouse films and mulch for crop production will continue creating attractive growth prospects through the forecast period.
Fact.MR has identified East Asia as a chief region for sales. The regional market is expected to witness double-digit growth amid rising demand from Chinese consumers. Multiplying focus on sustainable agricultural practices will have a positive impact on the East Asia market.
Meanwhile, the market in the Middle East and Africa is still at a nascent stage, presenting lucrative prospects for market players to capitalize on. Swift growth of economic activities and focus on agricultural expansion will enable agricultural films sales in the region to top US$ 705 Mn by 2031.
"Product launches and expansion of manufacturing units remain key strategies adopted by the market players. These strategies also will remain crucial for expansion of their footprint across emerging markets," says a Fact.MR analyst.
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Key Takeaways from Agricultural films Market Survey
China is expected to witness growth at a steady CAGR of 7.6% during the forecast period as the country account for major portion of agricultural films business.
India is known for its rich agricultural production owing to its favorable climatic conditions. Although India represents attractive growth opportunities, it is lagging on account of inadequate presence of manufacturers.
Spain is a fast growing country in Europe in terms of crop production and will therefore offer a conducive environment for the expansion of the agricultural films market.
Rising demand of mulch films in Europe, South Asia Oceanic, and East Asia due to their ability to improve yield and reduce dependence on pesticides and herbicides is encouraging the growth of agricultural films market.
Increased crop production has resulted in higher demand for adequate solutions for the storage of grains and food products. This has in turn presented attractive scope for agricultural films sales.
The impact of COVID-19 pandemic has negatively affected the market, resulting in 15% loss of revenue in 2020.
The global sales of agricultural films were hampered due to disrupted supply chain.
Ask Your Agricultural Films Market Related Questions & Get Customized Reports
Companies operating in the global agricultural films market are focusing on product launches and expanding their footprint in developing regions.
For instance, on 12thJanuary 2021, Ab Rani Plast Oy launched a product named, "RaniWrap Ecol" in Europe. Its trial delivered brilliant results and is considered as a more sustainable product that helps in reducing carbon footprint.
On 4thMarch 2021, Berry Global announced investment of US$30 mn so that it can increase production capacity of ultra-high performance machines and hand stretch films.
The key players operating in the global agricultural films market as profiled by Fact.MR are:
Berry Global Inc.
Exxon Mobil Corporation
RPC Group PLC
Trioplast Industries AB
Ab Rani Plast Oy.
More Valuable Insights on Agricultural Films Market
Fact.MR, in its new report, offers an unbiased analysis of the global agricultural films market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections in agricultural films market with detailed segmentation:
Agricultural Silage Films
Agricultural Mulching Films
Greenhouse Plastic/Covering Film
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
Agricultural Films for Bale Wrapping & Ensiling
Agricultural Films for Silo Bags Manufacturing
Agricultural Films for Tunnel Covers
Agricultural Films for Bunker Ensiling
Middle East & Africa
Key Questions Covered in the Agricultural Films Market Report
The market survey also highlights projected sales growth for agricultural films market between 2021 and 2031
The report offers insight into agricultural films demand outlook for 2021-2031
Agricultural films market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Agricultural films market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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