LOS ANGELES, March 19, 2021 (GLOBE NEWSWIRE) -- The Global Agro Textiles Market is expected to grow at a CAGR of around 5.9% from 2020 to 2027 and reach the market value of over US$ 13,699.5 Mn by 2027.
The global agro textiles market is estimated to exhibit potential single-digit growth over the forecast period from 2020 to 2027. The increasing need for agricultural produces, seafood, along with the enhanced quality is supporting the market growth. The agro textile sector is making every possible effort to improve the efficiency of crop production by using suitable agro textiles so that better crop yield can be achieved year after year.
The global agro textiles market is segmented across types, products, fibers, applications, and geography. Based on type, the market is bifurcated across weaving and woven, nonwoven, and knitting. On the basis of product, the market is divided into shade-nets, mulch-mats, anti-hail nets, bird protection nets, fishing nets, and others. By fibers, the market is segmented into polyester, nylon, polyethylene, jute, polypropylene, wool, and polyolefin. Additionally, agro textiles have applications across agriculture, horticulture, floriculture, aquaculture, planting/forestry, landscape gardening, and others.
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Based on product, fishing nets are leading the market with maximum revenue share and are also projected to maintain their dominance over the forecast period from 2020 to 2027. The age-old presence of fishing nets in the market is supporting their global usage and demand. Additionally, technical advancements like automatic installation without manual intervention increased lifespan and renewable materials are supporting the segmental market value.
On the basis of application, aquaculture is having a prominent share across the globe. Aquaculture, also known as aqua farming includes the farming of fish, mollusks, aquatic plants, crustaceans, algae, and other organisms. Some research & development projects have developed advanced textiles that give high yields from floating seaweed farms and allow easy & mechanized cultivation are other prominent factors driving the segmental market value.
Asia Pacific is leading the market with maximum revenue share and also projected to experience the fastest growth with major CAGR (%) during the estimated period from 2020 to 2027. The major developing economies of the region including China and India in terms of both population and economy are supporting the regional market value. The increasing demand for food products is additionally bolstering the market value. Moreover, the region is also anticipated to maintain its dominance over the forecast period from 2020 to 2027.
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Some of the leading competitors profiled in the global agro textiles market report include B&V Agro Irrigation Co., Beaulieu Technical Textiles, Belton Industries, Inc., Capatex Ltd., Diatex SAS, Hebei Aining Import and Export Co. Ltd., Hy-Tex (U.K.) Ltd., Meyabond Industry & Trading (Beijing) Co. Ltd., Neo Corp International Limited (NCIL), SRF Ltd., Tama, and Zhongshan Hongjun Nonwovens Co. Ltd. The major players are continuously involved in strategic development activities that include mergers and acquisitions, new product development, partnerships, and collaboration to expand their share in the global market.
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Some of the key observations regarding the agro textiles industry include:
- Canadian salmon farms are utilizing nets that are manufactured from modern polymers. These innovations have strength and durability that have significantly reduced fish escapes in recent years. Additionally, the machine learning (ML) applications coupled with drone technology will soon allow ongoing real-time monitoring, cleaning, and repair of nets.
- Garware Technical Fibres have designed fishing nets in a way to ensure that only the right type of fish is caught. The advanced fishing nets have the capacity to carry huge tonnages and each kind of fishing application has a different type of fiber and netting design. The company professionals have engaged with the fishing community and discussed the solutions for creating advanced nets that can reduce fuel consumption of trawlers and increase the scope for higher catches. According to the R&D team, fishermen can now save up to 50 to 100 liters of diesel per trip, with total savings that can go up to US$ 1370 per year per fishing trawler.
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