January 11, 2021

AGRICULTURAL FILMS MARKET ANALYSIS

Agricultural Films Market, by Polymer Type (Linear Low Density Polyethylene (LLDPE), Ethylene Vinyl Acetate/Ethylene Butyl Acrylate (EVA/EBA), Reclaims, Low Density Polyethylene (LDPE), High Density Polyethylene (HDPE), and Others), by Application (Mulch Film, Greenhouse Film, Geomembrane Film, and Silage & Stretch Film), and by Region (Europe, North America, Latin America, Middle East & Africa, and Asia Pacific) – Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

Plasticulture refers to the use of plastic materials in various agricultural applications. Plasticulture are also known as agriculture films. These films find application in commercial agricultural practices. Agricultural films are vastly used by rural farmers. Increasing demand for crops and need to enhance crop yield is expected to boost growth the global agricultural films market.

Market Dynamics:-

Increasing global population, which leads to high food demand is also expected to boost growth of the agricultural films market. Agriculture films are assumed to increase crop quality and yield. According to Population Reference Bureau (PRB), world population is expected to reach 9.9 billion by 2050 up by 29%, from 7.6 billion in 2018. Therefore, significant growth in global population is expected to boost the agriculture film market growth during the forecast period.

However, adverse effects of plastic on the environment and on human health may hamper the market growth. For instance, according to National Health and Nutrition Examination Survey produced by the US, Bisphenol - A also known as BPA (hazardous chemical), used to make billions of plastic beverage containers, dinnerware, protective linings of food cans and toys, is considered an endocrine disruptor, meaning it can both decrease or increase endocrine activity in humans and cause adverse health effects. Moreover, the average cost to build a greenhouse is around US$12,161 if professional labor is used. Therefore, high cost of installation of greenhouse films is also expected to hamper growth of the market.

Market Outlook:-

Among product type, Linear Low Density Polyethylene (LLDPE) is expected to drive growth of agriculture film market during the forecast period. This is owing to increasing use of LLDPE in agricultural films due to its properties such as resistance to sunlight and cracking, high tensile strength, and high puncture resistance. Low-density Polyethylene (LDPE) is replaced by LLDPE in many application areas due to its high performance and lower production cost.

Among applications, the greenhouse film segment is expected to witness significant growth in the global agricultural films market. Greenhouse films offer durability and protect crops from UV rays.

Asia Pacific holds dominant position in the agriculture films market and is the fastest growing market during the forecast period. This is due to increasing adoption of controlled agriculture (controlled environment agriculture is a technology, which maintains optimal growing conditions and provides protection throughout the development of crops) and growing population in the region. A significant growth in the agricultural sector and increasing demand for food in countries such as India is also expected to contribute to growth of the agricultural films market in the region. For instance, according to India Brand Equity Foundation, Government of India is targeting food grain production of 285.2 million tons in 2019 from 284.83 million tons in 2017.

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Market Taxonomy:-

On the basis of polymer type, the global agricultural films market is segmented into:

·         Ethylene Vinyl Acetate/Ethylene Butyl Acrylate (EVA/EBA)

·         Linear Low Density Polyethylene (LLDPE)

·         High Density Polyethylene (HDPE)

·         Reclaims

·         Low Density Polyethylene (LDPE)

·         Others

On the basis of application, the global agricultural films market is segmented into:

·         Silage and Stretch Film

·         Geomembrane Film

·         Mulch Film

·         Greenhouse Film

On the basis of region, the global agricultural films market is segmented into:

·         North America

o    U.S.

o    Canada

·         Latin America

o    Brazil

o    Argentina

o    Mexico

·         Europe

o    U.K.

o    Germany

o    Italy

o    Spain

o    France

o    Poland

o    Russia

o    Rest of Europe

·         Asia Pacific

o    China

o    India

o    New Zealand

o    Japan

o    ASEAN

o    Australia

·         Middle East and Africa

Agricultural Films Market Key Developments:

·         In February 2019, RKW Group, a company headquartered in Germany which is engaged in manufacturing of agricultural films, announced its plans to expand its films production site located at Franklin/Kentucky in North America. Expansion of the site includes construction of a new 30,000 square foot manufacturing and warehouse facility and other investments for procuring new, state-of-the-art equipment.

·         In July 2019, Berry Global Group, Inc., announced the completion of its acquisition of RPC Group Plc, a company engaged in manufacturing of various plastic products, for a purchase price of approximately US$6.5 billion. This acquisition is expected to strengthen Berry’s foothold in plastic and recycled packaging products industry including agricultural films.

·         In October 2019, Coveris Management GmbH, a leading European company in plastic packaging industry, acquired assets from the Preston, UK to expand its business. Acquired assets include new generation 5-layer and 3-layer extrusion lines used for production of high-quality stretch films for agricultural, silage as well as industrial use.

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