Dublin, Dec. 30, 2020 (GLOBE NEWSWIRE) -- The "Agricultural Films Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The agricultural film market is evaluated at US$9.276 billion for the year 2019 growing at a CAGR of 5.83% reaching the market size of US$13.030 billion by the year 2025.
The burgeoning requirements of yield optimization coupled with a significant increase in the demand for superior quality crops are some of the additional factors that are projected to amplify the demand for agricultural films in the next five years. The market is also expected to be driven by the fact that shrinkage in the amount of arable land available globally due to the rapid urbanization and industrialization in both developed and developing economies of the globe has led to the adoption of numerous yield optimization techniques by the farmers which is further projected to bolster the demand for agricultural films throughout the forecast period.
Moreover, the global population has been on the verge of increase for many years. This, combined with the increasing purchasing power of the people is further expected to amplify the demand for high-quality food, which is anticipated to propel the market growth to some extent as agricultural films benefit the farmers in both quality and the quantity of the yield.
The market for agricultural films may be restrained by the fact that the initial costs for the installation of these films is considerably high which every farmer may not be able to afford them. Also, the concerns regarding the recyclability of these films are projected to inhibit their adoption in developed regions such as Europe and North America among others due to strict environmental policies.
However, the participation by market players to tackle these issues has further led to increased investments in the R&D for the development of biodegradable films is further propelling the business growth opportunities for the market players over the next five years. Additionally, the new product launches by the players operating in the market further show the potential for a significant growth during the forecast period.
Participation by market players
There is a significant volume of companies working in the agricultural films market, however, some have solidified their position as the leading providers in this industry. These players are involved in a plethora of investments, product launches, and R&D as a part of their growth strategies to further strengthen their position and provide better products and services to their customers worldwide, which is further expected to propel the growth of the market in the coming years. Some of the following are:
February 2020, Novamont S.p.A, one of the world's leading manufacturer of bioplastics and biochemical based out of Italy announced that its product MATER-BI bioplastic that is used for the production of soil-biodegradable mulching films which is in compliance with the European standard UNI EN17033 has given the certification in compliance with "AIAB Technical Means" specification. The product aims to guarantee all the farmers that it will now meet the ethical sustainability requirements and is now eligible for its use in organic farming.
July 2019, a Benin-based blown film manufacturer named Asahel Benin Sarl partnered with Coperion, a technology leader for compounding & extrusion, feeding & weighing, bulk material handling and service for various industries for the delivery of a complete compounding system primarily for the production of bio-based plastic films for their applications in garbage bags, food packaging, trash can liners, and agricultural films among others.
November 2018, UbiQD, Inc., a nanotechnology company based-out of New Mexico announced the development of its latest UbiGroT greenhouse film which is the first commercial quantum dot (QD)-containing product.
The agricultural films market has been segmented on the basis of type, application, and geography. By type, the market has been classified into low-density polyethylene, high-density polyethylene, linear low-density polyethylene, and others. On the basis of application, the segmentation of the market has been done into silage, greenhouse, mulching, and others.
Competitive Insights
Prominent/major key market players in the agricultural films market include BASF SE, Exxon Mobil Corporation, and RKW Group among others. The players in the agricultural films market are implementing various growth strategies to gain a competitive advantage over its competitors in this market.
Major market players in the market have been covered along with their relative competitive position and strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the agricultural films market.
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Agricultural Films Market Analysis, by Type
5.1. Introduction
5.2. Low-Density Polyethylene
5.3. High-Density Polyethylene
5.4. Linear Low-Density Polyethylene
5.5. Others
6. Agricultural Films Market Analysis, by Application
6.1. Introduction
6.2. Silage
6.3. Greenhouse
6.4. Mulching
6.5. Others
7. Agricultural Films Market Analysis, by Geography
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Ab Rani Plast Oy
9.2. Basf Se
9.3. Rpc Bpi Group
9.4. The Armando Alvarez Group of Companies
9.5. Berry Global Inc.
9.6. Groupe Barbier
9.7. Exxon Mobil Corporation
9.8. Rkw Group
9.9. The Dow Chemical Company
9.10. Trioplast Industrier Ab
9.11. Kuraray Europe GmbH
9.12. Coveris
9.13. Plastika Kritis
9.14. Henan Yinfeng Plastic Co. Ltd.
9.15. Indevco
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