Selbyville, Delaware, Oct. 17, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Agricultural Films Market is anticipated to be worth more than USD 17.5 billion by 2030.
Growing emphasis on promoting the utilization of biodegradable agricultural films as a major factor positively influencing the agricultural films industry growth. European Bioplastics in the Bioplastics Industry Outlook 2021 predicted the worldwide bioplastics production capacity to reach 7.5 million tons in 2026 from nearly 2.4 million tons in 2021. Compostable agricultural films offer a range of environmental benefits over their plastic counterparts. The production of these films requires less carbon, reduces pollution levels in soil, groundwater, and air, and minimizes the amount of waste sent to landfills, thereby increasing their adoption through 2030.
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Superior weather and chemical resistance to push the demand for HDPE agricultural films
Agricultural films market from high-density polyethylene (HDPE) segment is poised to record more than 2.5% CAGR from 2022 to 2030. HDPE agricultural films offer improved chemical resistance with adequate vapor barriers and weathering properties, making them a preferred alternative across the farming sector. These films are slightly denser than similarly produced low-density polyethylene films, are easily recyclable, and have a high strength-to-weight ratio. The ability of HDPE film to easily blend with other additives and polymers, coupled with its budget-friendly benefits, will accelerate business growth through 2030.
Increasing efforts by leading players to increase the adoption of mulch films
Agricultural films market share from mulching applications generated revenues of over USD 4.5 billion in 2021 and is projected to register lucrative growth between 2022 and 2030.Mulch films play a critical role in modifying soil temperature, preventing moisture loss, limiting weed growth, and improving crop yield. The escalating efforts by key industry players to manufacture biodegradable mulch films with low environmental impact and carbon footprint, driven by the growing environmental concerns will further aid the segment expansion.
Browse key industry insights spread across 214 pages with 165 market data tables & 46 figures & charts from the report, “Agricultural Films Market Size By Application (Mulching, Green House, Silage), By Raw Material (LLDPE, LDPE, EVA, Reclaims, HDPE), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/agricultural-films-market-size
Modern farming techniques to facilitate industry expansion across North America
North America agricultural films market is poised to register over 2% CAGR through 2030. The decrease in arable land in the region has resulted in the growing adoption of greenhouse plantation techniques creating new growth opportunities for the regional industry. Regional authorities have been emphasizing on integrating modern and sustainable farming techniques focused on improving agricultural yield, further supporting market growth between 2022 and 2030.
Sustainable development goals to strengthen the competitive outlook
Prominent enterprises partaking in the agricultural films market include Armando Alvarez, BASF SE, Berry Global, Barbier Group Inc, Ab Rani PlastOy, ExxonMobil Chemical, Kuraray Co., Ltd., RKW Hyplast NV., Novamont, The Dow Chemical Company, and PolyExpert.
These players are consistently stressing on introducing sustainable solutions and services to minimize carbon emissions and lay the foundation of a carbon-neutral economy. For instance, in September 2022, BASF planned to offer product carbon footprint (PCFs) for a variety of light stabilizers and antioxidants to its plastic additives customers. The company will offer this as a premium benefit within its VALERAS™ portfolio. Through this move, BASF aims to improve CO2 transparency in the value chain and support customers in achieving their GHG emission reduction targets.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
