NEW YORK, March 28, 2023 /PRNewswire/ -- Major players in the market are BASF SE, Berry Global Inc., EIFFEL Industry Plastics S.p.A, Essen Multipack Limited, Exxon Mobil Corporation, FVG Folien-Vertriebs GmbH, GCR Group, Ginegar Plastic Products Ltd., Iris Polymers Industries Pvt Ltd., Lumite Inc., Plastika Kritis SA, Polifilm Extrusion GmbH, RPC Group plc, Saudi Basic Industries Corporation (SABIC), Sichuan Bozong Greenhouse Co., Ltd., The Dow Chemical Company, Agriplast Tech India Pvt. Beijing Kingpeng International Hi-Tech Corporation, Central Worldwide Co. Ltd., and Tuflex India.
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The global greenhouse film market grew from $5.25 billion in 2022 to $5.75 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The greenhouse film market is expected to grow to $7.84 billion in 2027 at a CAGR of 8.1%.
The greenhouse film market consists of sales of ethylene vinyl acetate and polyethylene.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Greenhouse films refer to a smooth plastic that is placed on the roof of the greenhouse to protect the plants inside from the elements.These are used as roofs in greenhouses to shelter the plants inside of greenhouses from the larger world outside.
These are also employed to grow plants that need a specially controlled climate to grow.
Asia-Pacific was the largest region in the greenhouse film market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this greenhouse film market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main resin types of greenhouse films are low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), and ethylene vinyl acetate (EVA).Low-density polyethylene (LDPE) is used for making shopping bags, dry cleaning bags, flexible bottles, and construction and agricultural films.
The various functionalities are diffused GHF, photo-selective GHF, anti-dirt GHF, and other functionality with various widths such as 4.5 meters, 5.5 meters, 7 meters, 9 meters, and other width types and thicknesses such as 80200 microns, 200 microns, and >200 microns. These are used in vegetables, fruit, flowers, and others (transplants and ornamental).
The rising demand for food production is expected to propel the growth of the greenhouse film market going forward.Food production is the process of producing sellable food items using raw ingredients available from plants and animals.
Plastic greenhouses would help to increase and secure the yield. For instance, in April 2022, according to Agriculture Victoria, an Australia-based innovation company for economic growth in Victoria's agriculture through leading science and strong science capacity data, representing 26.0% of Australian food and fibre export value. Victoria's food and fibre exports have increased to reach a record $14.5 billion for the 2019–20 period. Therefore, the increase in agricultural production is driving the growth of the greenhouse film market.
Product innovations are a key trend gaining popularity in the greenhouse film market.Major companies operating in the greenhouse film market are focused on developing new technological solutions to strengthen their position.
For example, in September 2021, BASF, a German greenhouse film company, will launch IrgaCycleTM, a line of additive solutions aimed at meeting the urgent needs in plastic recycling.This improves the properties of recycled plastics mechanically for various industries and enhances the quality of post-consumer and industrial polyolefin material for re-use in flexible, molding, and rigid applications. It also helps in increasing the percentage of recycled content for various end-users.
In January 2020, BASF, a German-based chemical company, acquired Solvay for an undisclosed amount.This acquisition broadens BASF's polyamide capabilities with innovative and well-known products such as Technyl® and enables BASF to support its customers with even better engineering plastics solutions.
Solvay is a Belgium-based company operating in greenhouse film.
The countries covered in the greenhouse film market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The greenhouse film market research report is one of a series of new reports that provides greenhouse film market statistics, including greenhouse film industry global market size, regional shares, competitors with a greenhouse film market share, detailed greenhouse film market segments, market trends and opportunities, and any further data you may need to thrive in the greenhouse film industry. This greenhouse film market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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