Agricultural Films Market Expected to Reach USD 11.97 billion by 2023 with a CAGR of 6.8%

Agricultural Films Market

The global agricultural films markets is expected to reach a market value of USD 11.97 billion by 2023, witnessing a CAGR of 6.8% over 2018-2023. Asia-Pacific accounts for the majority market demand, led by China. It was the dominant regional market in terms of production and consumption and accounted for over 60% of global demand in 2013.

Global Agricultural Films Market Major Key players:  Ab Rani Plast Oy, Britton Group, Berry Plastics Corporation, Basf Se, British Polyethylene Industries, Exxonmobil, Dow Chemicals, Novamont, Kuraray, Hyplast Nv, And Trioplast Ab,(Register For Sample to get more compoy Profiles).

Global Agricultural Films Market By Type: Low-Density Polyethylene, Linear Low-Density Polyethylene, High-Density Polyethylene, Ethyl Vinyl Acetate (EVA)/Ethylene Butyl Acrylate (EBA), Reclaims, Other Films

Global Agricultural Films Market By Application: Greenhouse, Silage, Mulching

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Accelerating Growth in Food Demand and Shrinking Farmland

The population is increasing exponentially across the globe and every day, nearly 200,000 people are getting added to the world food demand. According to United States Population Division, worlds human population has increased nearly fourfold in the past 100 years and it is projected to reach 9.2 billion by 2050. On the other side, agricultural land is shrinking globally. Farmland per capita is anticipated to decrease from 2,200m_ in 2005 to 1800m_ in 2030.

Use of agricultural films increase the agriculture productivity by managing soil erosion, reducing weed spread, helping seed germination and development and protecting crops against ultra violet radiations. Agricultural films not only increase the production but are also helpful in reducing the use of agrochemicals. Due to their lower cost and higher benefits, agricultural films have become an integral part of modern farming. Nowadays, bio-based films are also showing huge potential for market growth.

Mulching to Dominate the Market Growth

Mulching was the largest application of agricultural films and accounted for over 40% of the total market in the year 2013. Mulching involves putting a thin plastic film directly over the ground and/or the plants in their first stage of growth. Agricultural mulch films are used to control the crop growing conditions and enhance moisture in the soil. They smooth out variations in temperature and rain fall during the growing season. Mulch films find increased usage in high-intensity agricultural farming. Major benefits derived from application of agricultural films in mulching are soil moisture retention, weed management, controlled leaching in fertilizer and improved crop quality, etc.

South America Also To Witness Rapid Growth

Rich tropical climate in South America is a boon for the agriculture land in the region. Demand for agricultural films in crop production is on the rise, due to the growing need for food security and expansion of the export markets in countries like Brazil and Argentina. The use of films in agriculture has seen a substantial growth over the last decade due to the need for intensive farming in the region.

Mulching holds the biggest market share given the robust animal feed market in the region.
Brazil dominates all other South American countries in terms of market demand for agricultural films, followed by Argentina. Other countries comprising Mexico, Columbia, and Chile are expected to provide future market potential during the forecast period.

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Regions Covered in this report are as Follows:

United States, North America (Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Columbia etc.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa), RoW (Rest of World).

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  • The report analyses how the stringent emission control norms will drive the global Agricultural Films market.
  • Analyzing various perspectives of the market with the help of Porters five forces analysis.
  • Study on the product type that is expected to dominate the Agricultural Films Market.
  • Study on the regions that are expected to witness fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major players of Agricultural Films Market.
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SOURCE The Financial Consulting