Greenhouse Film Market Experts Anticipate Market Boom in 2026
New York, NY 22 July 2020: The global greenhouse film market is estimated to reach USD 8.3 billion by 2026 growing at a CAGR of 9.8% during the forecast period, according to a new study published by Polaris Market Research. The report ‘Greenhouse Film Market Share, Size, Trends, & Industry Analysis Report, By Resin Type (Low Density Polyethylene, Linear Low-Density Polyethylene, Polyvinyl Chloride), By Width (4.5M, 5.5 M, 7M, 9M), By Thickness, By Application, By Regions: Segment Forecast, 2019 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends. In 2018, the Low-Density Polyethylene segment accounted for the highest share in the global greenhouse film industry in terms of revenue. North America was the leading contributor to the global market revenue in 2018.
The increase in the population worldwide and growth in global food demand majorly drives the market growth. The ability to produce high quality crops throughout the year, lesser use of water for crop cultivation, improved crop quality, and increased level of control over crop growth boost the market growth. Growing urbanization, need to enhance agricultural yield, rising investments by government organizations on agricultural schemes, and increasing focus on nutritious food products and indoor farming accelerate the market growth. New emerging markets, technological advancements in farming methods, growing demand and area used for greenhouse protected cultivation would provide growth opportunities in the market in the coming years.
Polyethylene plastic is available in two different strengths; commercial grade for large industrial applications and utility grade for personal use. Polyethylene plastic usually lasts for a year or two. Polyvinyl Plastic is expensive, durable offer high strength. However, the most durable greenhouse plastic is polycarbonate plastic. It is a twin wall, polyethylene plastic that maintains heat and humidity with the ability to last for up to a decade.
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In 2018, North America generated the highest market share in terms of revenue in the greenhouse film industry. The growing urbanization, and rising population has accelerated the market growth in the region. A significant rise in the demand for organic and chemical free food products supports the market growth in the region. The technological advancements in farming methods, and increasing need for controlled environment for high quality crops further improves the market growth rate. Asia-Pacific is expected to grow at the highest rate during the forecast period owing to significant growth of population, government schemes, and strong technical expertise in agricultural practices. Technological advancements and established R&D institutes in China and Japan further supports the market growth.
The well-known companies profiled in the Greenhouse Film market report include Polifilm Extrusion GmbH, Essen Multipack Limited, Ginegar Plastic Products Ltd, Beijing Kingpeng International Hi-Tech Corporation, Thai Charoen Thong Karntor Co., Ltd, Central Worldwide Co., Ltd, Berry Global Group, Inc., The Dow Chemicals Company, Agriplast SRL, and Lumite, Inc. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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