Monday, 12 June 2017

Agricultural Films Market Insight : Growing At A CAGR Of 8.0% From 2016 To 2024

The global agricultural films market is expected to reach USD 13.85 billion by 2024, according to a new report by Grand View Research, Inc. Growing population is anticipated to exert pressure on agricultural productivity. These films are used to enhance the productivity and improve crop quality by minimizing soil erosion, providing nutrients, and suppressing weed growth. They are primarily made of polyethylene. Growing consumer disposable income coupled with the rising high-quality crops demand is anticipated to drive the market growth over the forecast period.

Depleting arable land is expected to impact market growth positively over the next eight years. Protective films are placed over soil, covered over greenhouses and wrapped around fodder. Various benefits offered by agricultural films including reducing the risk of seed germination, decreasing soil compaction, raising soil temperature, providing nutrients, and protecting against UV rays. These advantages are expected to raise product demand in near future.

Agricultural films for green house dominated the global demand and accounted for 42.9% of total revenue in 2015. This trend is anticipated to continue over the forecast period on account of rising demand from emerging economies such as China and India.

In depth research report on Agricultural Films Market

Further key findings from the report suggest:

        The global agricultural films market demand 5.15 million tons in 2015 and is expected to reach 8.28 million tons by 2024, growing at a CAGR of 5.4% from 2016 to 2024

        Linear low-density polyethylene (LLDPE) was the major raw material segment in 2015 and is expected to reach a market worth USD 7.29 billion by 2024, growing at a CAGR of 8.0% from 2016 to 2024. The high growth may be attributed to the growing demand for these films in Asia Pacific.

        Low-density polyethylene (LDPE) is projected to grow at a CAGR of 7.3% from 2016 to 2024. The high growth may be attributed to their use in agriculture areas with harsh climatic conditions and limited water supply.

        Asia Pacific was the leading consumer and accounted for 70.1% of global revenue in 2015 owing to rising consumer disposable income coupled with favorable government initiatives in the agriculture sector.

        Major companies operating in the global agricultural films industry include AB Rani last Oy, AEP Industries, Al-Pack Enterprises, BASF, Berry Plastic Group, Inc., British Polyethylene Industries PLC, Novamont S.PA, RKW and Triplast Industrier AB.

Grand View Research has segmented the agricultural films market on the basis of raw material, application and region:

Global Agricultural Films Raw Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

        Low density polyethylene (LDPE)
        Linear low density polyethylene (LLDPE)
        High density polyethylene (HDPE)
        Ethyl vinyl acetate/ ethyl butyl acrylate (EVA/EBA)

Global Agricultural Films Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

        Green house

Global Agricultural Films Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

        North America
o   U.S.
o   Canada
o   Mexico
o   Germany
o   UK
o   France
o   Italy
o   Spain
        Asia Pacific
o   China
o   India
o   Japan
        Central & South America
o   Brazil 
        Middle East & Africa

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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