Agricultural Films Market Is Expected To Rise At A CAGR Of 5.7% Over The Span Of The Next 10 Years

Sales of agricultural films are anticipated to reach over 4300 tonnes in 2019, growing more than 4.0 percent year over year compared to 2018, according to a recent Fact.MR study. Gains in the agricultural film industry are still influenced by a variety of multifaceted factors, such as the introduction of affordable machines for quickly and effectively laying down films on a large scale and the development of biodegradable and environmentally friendly substitutes.

According to the study, mulch plastic films are preferred over other agricultural film types, with sales of over 2200 tonnes expected in 2019. Mulch plastic films have comparatively higher sales due to their unrivalled ability to increase farmland yield. Mulch plastic films have also become very popular among farmers all over the world because they make it easier to create favourable microclimates that speed up crop growth.

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According to the study, the recent exponential increase in food demand will continue to be the main factor influencing agricultural films' box office performance. By 2050, the Food and Agriculture Organization (FAO) projects that there will be a 70% increase in food demand.

Mulch plastic films will continue to be in high demand for the foreseeable future in order to meet the rising food demand due to their unmatched advantages and effectiveness in boosting agricultural productivity. Mulch plastic films work in conjunction with drip irrigation and fertiliser release techniques based on polymers to make it simple and quick to produce high-quality agricultural products.

Biodegradability of PBAT Draws Manufacturers of Agricultural Films

One of the main issues has been the abuse of plastic in the environment, which has prompted players in the agricultural film industry to look for biodegradable substitutes for polyethylene. Traditional plastics' inability to biodegrade is placing an undue burden on landfills around the world. The biodegradability of PBAT, or polybutylene adipate terephthalate, was found to favour producers of agricultural films, according to a recent study by ETH Zurich.

According to a study by the ETH Zurich, PBAT can completely biodegrade in soil over the course of six weeks, making it a perfect substitute for polyethylene since the former has all the qualities needed for the efficient production of agricultural films. Additionally, it is anticipated that the market for agriculture film will grow thanks to the quickening development of novel recycling processes and their conversion into goods usable in agricultural applications.

Key Companies Profiled: BASF SE, Berry Global Inc., CI Takiron, Exxon Mobil Corporation, Dow Inc., RPC Group PLC, RKW Group, Trioplast Industries AB, Achilles Corporation, Ab Rani Plast Oy.

Rapid Adoption of Organic Farming Methods to Halt Sales

The adoption of organic farming practises is being pushed by rising consumer awareness of the health benefits linked to the consumption of organic food products and rising consumer willingness to pay more for these products, claims the study. Agriculture films sales are anticipated to continue being negatively impacted by the use of synthetic substances, which is at the core of organic farming practises.

In order to increase their profits by taking advantage of the growing demand for organic food, food processing companies are now favouring the use of products produced organically. Sales of agricultural films are predicted to be restricted in the near future as a result of this and numerous studies that advise against the use of plastic in the food chain. Although producers of agricultural films are introducing novel biodegradable products into the market, their adoption is being further hampered by the higher production costs associated with these products.

For the years 2019 to 2028, the Fact.MR report analyses the market for agricultural films. Through 2028, a CAGR of 5% is anticipated for the market for agricultural films.

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Research on the Agricultural Films Industry's Major Segments

By Film

·         Geomembrane

·         Agricultural Silage Films

·         Agricultural Mulching Films

·         Greenhouse Plastic/Covering Film

By Material

·         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

·         Others

By Application

·         Agricultural Films for Bale Wrapping & Ensiling

·         Agricultural Films for Silo Bags Manufacturing

·         Agricultural Films for Tunnel Covers

·         Agricultural Films for Bunker Ensiling

·         Others

Which Area Has the Most Potential for Agricultural Film Sales?

With an absolute dollar opportunity of close to US$ 4.5 billion, East Asia is the region that agricultural film suppliers should pay the most attention to.

China, which currently dominates both East Asia and the global market, is predicted to experience double-digit growth between 2021 and 2031. Chinese consumers' preference for agricultural films has multiplied recently due to the country's economy's rapid growth and growing reliance on agriculture.

About one-third of the market's value was made up of South Asia, Oceania, and Europe, which are projected to grow at CAGRs of 6.2 percent and 3.9 percent, respectively.

The Middle East and Africa are still in the process of developing. The region is regarded as one of the emerging markets when taking into account the extensive agricultural statistics, particularly in Africa and the growing economic activities in the Middle East. By 2031, it is expected that the Middle East and Africa market will have grown moderately to reach US$ 705 million.

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