Agricultural Films Market Worth USD 4.7% billion by 2020

The agricultural films market is projected to grow at a CAGR of 4.7% during the forecast period (2014 to 2020). Rising population worldwide remains the primary factor, accelerating market sales, according to a report by Radiant Insights, Inc.

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In 2000, the land fit for agriculture diminished rapidly. It reduced to 47% in 2013. Agricultural films can protect land from soil erosion by providing nutrients and increasing soil temperature. They are more advantageous than polymer films. Their durability, transparency, and diffusion & ultra-violet safety features work in favor of the market. The various types in the agricultural films market are low density polyethylene (LDPE), linear low density polyethylene (LLDPE), and high density polyethylene (HDPE). LLDPE had the largest market share in 2013 and was valued over USD 1.3 billion. It will continue to witness huge growth due to greater tensile strength and cost-effectiveness in comparison to other raw materials. LDPE had the second largest share the same year and accounted for 20% of the market. HDPE is expected to expand moderately during the forecast period. Its revenue exceeded USD 400 million in 2013. The applications of the agricultural films market include mulching, silage, and greenhouse cladding. Mulch films led the market in 2013 and surpassed USD 2 billion. Quality crops, together with per-capita disposable incomes, will propel this application. LDPE films are used for greenhouse cladding. Greenhouse cladding had a 40% share in the market that year. This segment is estimated to grow owing to farming practices like floriculture and horticulture. Asia Pacific (APAC) dominated among the four geographical regions in 2013. It captured over 60% of the agricultural films market. China led this region. Favorable government policies and rising population will help the nation maintain its position in the coming years. Europe had the second largest share the same year. It accounted for more than 10% of the total volume. The region will expand at a moderate rate due to environmental concerns regarding polymer recyclability. The Middle East seems to be the next destination for agricultural films owing to its arid lands. The total share of the agricultural films market is highly segmented. This is because of various geographical and small-scale participants. The top ten participants occupied more than 30 percent shares in 2013.

Agricultural Films Market

Information Source: Radiants Insights    

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