Mulch Film Penetration Increases in Agriculture, Demand to Quadruple in Next Ten Years to 4 Million Ton :Fact.MR

NEW YORK, Aug. 3, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global agricultural films market is poised to grow at a CAGR of 6% between 2021 and 2031. Fact.MR predicts the overall sales to hit US$ 10 Bn by the end of 2021. Agricultural films sold for manufacturing silo bags will total US$ 6.5 bn by 2021.

According to the study, the global agricultural films market registered a CAGR of 3.5% during its historical period of 2016 to 2020. The rising demand in the U.S., Japan, India, and China will continue presenting growth opportunities.

Coupled with this, sales will soar as focus on environmentally-friendly and biodegradable solutions multiply in the agricultural sector. Market value will increase at an impressive pace as some of the leading manufacturing adopt latest technologies to offer more sustainable solutions.

The advent of agricultural film laying machines has made this possible, enabling effortless and more precise production of films, that too on a large scape. These developments will bode well for the market, bolstering sales prospects through forecast period.

Growing adoption of agricultural films such as greenhouse films and mulch for crop production will continue creating attractive growth prospects through the forecast period.

Fact.MR has identified East Asia as a chief region for sales. The regional market is expected to witness double-digit growth amid rising demand from Chinese consumers. Multiplying focus on sustainable agricultural practices will have a positive impact on the East Asia market.

Meanwhile, the market in the Middle East and Africa is still at a nascent stage, presenting lucrative prospects for market players to capitalize on. Swift growth of economic activities and focus on agricultural expansion will enable agricultural films sales in the region to top US$ 705 Mn by 2031.

"Product launches and expansion of manufacturing units remain key strategies adopted by the market players. These strategies also will remain crucial for expansion of their footprint across emerging markets," says a Fact.MR analyst.

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Key Takeaways from Agricultural films Market Survey

• China is expected to witness growth at a steady CAGR of 7.6% during the forecast period as the country account for major portion of agricultural films business.
• India is known for its rich agricultural production owing to its favorable climatic conditions. Although India represents attractive growth opportunities, it is lagging on account of inadequate presence of manufacturers.
• Italy will remain a highly attractive market for sales in Europe, impressive prospects for agricultural films sales.
• Spain is a fast growing country in Europe in terms of crop production and will therefore offer a conducive environment for the expansion of the agricultural films market.

Key Drivers

• Rising demand of mulch films in Europe, South Asia Oceanic, and East Asia due to their ability to improve yield and reduce dependence on pesticides and herbicides is encouraging the growth of agricultural films market.
• Increased crop production has resulted in higher demand for adequate solutions for the storage of grains and food products. This has in turn presented attractive scope for agricultural films sales.

Key Restrains

• The impact of COVID-19 pandemic has negatively affected the market, resulting in 15% loss of revenue in 2020.
• The global sales of agricultural films were hampered due to disrupted supply chain.

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Competitive Landscape

Companies operating in the global agricultural films market are focusing on product launches and expanding their footprint in developing regions.

For instance, on 12^th January 2021, Ab Rani Plast Oy launched a product named, "RaniWrap Ecol" in Europe. Its trial delivered brilliant results and is considered as a more sustainable product that helps in reducing carbon footprint.

On 4^th March 2021, Berry Global announced investment of US$30 mn so that it can increase production capacity of ultra-high performance machines and hand stretch films.

The key players operating in the global agricultural films market as profiled by Fact.MR are:

• 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.

More Valuable Insights on Agricultural Films Market

Fact.MR, in its new report, offers an unbiased analysis of the global agricultural films market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections in agricultural films market with detailed segmentation:

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

Regions

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

Key Questions Covered in the Agricultural Films Market Report 

• The market survey also highlights projected sales growth for agricultural films market between 2021 and 2031
• The report offers insight into agricultural films demand outlook for 2021-2031
• Agricultural films market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others 
• Agricultural films market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry 

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About Fact.MR

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