Agricultural Films Market Size Worth USD 14.96 Billion by 2027 | CAGR of 5.8%: Emergen Research

VANCOUVER, B.C., Oct. 1, 2020 /PRNewswire/ -- The Global Agricultural Films Market is forecast to be worth USD 14.96 Billion in 2027, according to the latest report by Emergen Research. The growth of this market can be attributed to the increasing need for optimum agricultural productivity. The growing requirement for high-quality crops, coupled with the rising disposable income of the consumers, is projected to drive the growth of the industry over the forecast period.

The ability of agricultural films to enhance crop quality by reducing soil erosion and preventing the growth of weeds will surely drive the sales of the product. There is a growing usage of the Nano greenhouses across the world to increase the agricultural output and protect the crop from the adverse climatic condition, which is a contributing factor to the industry's growth.

The rising adoption of biodegradable polymer films due to the growing environmental concerns is expected to fuel the industry's growth. Strict regulations of the government over the usage of plastic and polythene present lucrative opportunities for the growth of the biodegradable polymer film companies. Technological advancements in the agricultural industry, such as the introduction of ultra-thermic films and ultraviolet (UV) protection films, are expected to positively affect the future growth of the industry.

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Key Highlights From The Report

• In January 2017, AEP Industries Inc., a North American key manufacturer of flexible plastic packaging films, was acquired by Berry Global Inc., a key manufacturer of agricultural films, in order to remain competitive in the growing industry and to expand its product portfolio in the agricultural sector.
• Linear Low-density Polyethylene (LLDPE) held the largest market share of 35.4% in 2019. The increasing population of the developing economies, coupled with the growing demand for food, has resulted in the high demand for the Linear Low-density Polyethylene in the APAC region.
• The mulch film segment dominated the market with a share of 49.2% in 2019 due to its ability to maintain the temperature and water retention of the soil and restrain the growth of weeds.
• The Asia Pacific region accounted for the largest market share of the Agricultural Films Market in 2019 due to the growing initiatives of the government in R&D for the development of more advanced and protected agricultural practices. Strict regulations issued by the government over the usage of polythene and plastic are resulting in the growing adoption of biodegradable polymer films in the region.
• Key participants include BASF SE, The RKW Group, Berry Global Inc., AB Rani Plast Oy, Kuraray Co. Ltd., RPC Group PLC, Trioplast Industrier AB, Coveris, Novamont S.P.A and Britton Group Limited, among others.

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Emergen Research has segmented the Global Agricultural Films Market on the basis of type, application, and region:

Type Outlook (Revenue, USD Billion; 2017-2027)

• High-density Polyethylene (HDPE)
• Linear Low-density Polyethylene (LLDPE)
• Ethylene-vinyl Acetate (EVA)
• Low-density Polyethylene (LDPE)
• Reclaim
• Others

Application Outlook (Revenue, USD Billion; 2017-2027)

• Geomembrane film
• Silage film
• Mulch film
• Greenhouse covering

Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
1. U.S.
2. Canada
• Europe
1. Germany
2. U.K.
3. France
4. Benelux
5. Rest of Europe
• Asia Pacific
1. China
2. Japan
3. South Korea
4. Rest of APAC
• Latin America
1. Brazil
2. Rest of LATAM
• Middle East & Africa
1. Saudi Arabia
2. UAE
3. Rest of MEA

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