Wilmington, Delaware, United States, March 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – As per study conducted by Transparency Market Research, the global mulch films market is projected to advance at compound annual growth rate of 5.9% during the forecast period, starting in 2022 and ending in 2026.
The last decade has witnessed significant growth in the agriculture industry owing to factors such as rising population leading to increased demand for food products, which are free of any harmful products.
In a bid to achieve decrease weed growth and obtain improved crop yield, key personnel in agriculture and horticulture industries are using mulch films, which is contributing to market growth.
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Some of the materials used to produce mulch films include polyethylene, polypropylene, polyvinyl chloride, polybutylene succinate, and ethylene-vinyl acetate.
New mulch films launches are assisting prominent market players in gaining an edge over other market players and in generating new revenue streams.
Well-established mulch films market players are expanding their presence in global market and increasing their revenue by collaborating with smaller players.
Key Findings of Mulch Films Market Study
- Increasing Demand for Biodegradable Mulch Films Could Boost Growth in Mulch Films Market: The last few years have witnessed steady rise in consumer preference for biodegradable plastic mulch films, in agriculture and horticulture industries. Key reason behind the increase in demand for biodegradable plastic mulch films is they offer improved moisture retention in crops, have proven beneficial in decreasing labor hours since the crops can be harvested directly from the land. Increasing demand for biodegradable mulch films could augment the growth in mulch films market during the forecast period
- Rising Demand for Biopolymer Mulch Films Propelling Overall Market: Leading players in global mulch films market are looking to manufacture eco-friendly solutions by deploying soil-biodegradable and compostable plastic products. Rising demand for compostable polymers is triggering the growth in overall mulch films market. Key personnel in agriculture industry such as farmers are using biopolymer mulch films in a bid to decrease the environmental footprint. Few other advantages offered by biopolymer films include residence and industrial compost ability and reduced soil wastage, which is triggering product demand and boosting overall growth in mulch films market
Mulch Films Market: Key Drivers
- Rising customer preference for environment-friendly solutions in agriculture and horticulture end-use industries is one of the key driving factors of global mulch films market
- Continuous advancements witnessed in agriculture industry is augmenting the growth in overall mulch films market
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Mulch Films Market: Regional Market Insights
Asia Pacific is expected to emerge as the dominant region in global mulch films market during the forecast period owing to increased demand for mulch films in both developed and developing economies such as China and India
Mulch Films Market: Key Players
The global mulch films market is competitive, with the presence of several leading players. It is expected that entry of new players during the forecast period will intensify the competition in overall market.
Prominent mulch films market players are making huge investments in research and development activities to produce improved products that would meet customer requirements in agriculture and horticulture industries.
Some of the prominent players in global mulch films market include Exxon Mobil Corp., BASF SE, Armando Alvarez Group, Berry Global Inc., and BioBag International AS.
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The global mulch films market is segmented as follows:
Product Type
- Non-Biodegradable
- Biodegradable
Material Type
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polylactic Acid (PLA) / Polyhydroxyalkanoates (PHA)
- Polybutylene Succinate (PBS)
- Ethylene-vinyl Acetate (EVA)
- Other Bio-based Material
Technology
- Cast
- Blown
End-use
- Agriculture
- Horticulture
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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