The global agricultural films market is valued at US$ 10.7 billion in 2022 and is anticipated to expand at a value CAGR of 5.7% from 2022 to 2032 to reach US$ 18.8 billion by the end of 2032. The market is set to grow due to the remarkable contribution of agricultural films in increasing production capacity.
Sustainable solutions have high demand across every industry, including agriculture. Bio-degradable agricultural films or films made from recycled material are gaining traction. They offer extended growth seasons for numerous crops, conserve water, and limit the requirement of pesticides & herbicides.
Increasing government investments in agriculture and agricultural R&D will provide high sales opportunities for bio-degradable agricultural films. Ag films enable farmers to improve production with minimum input, reduce weed growth, and enhance the quality of crops, besides other benefits.
Key Takeaways from Market Study
- The agricultural films market was valued at US$ 10.2 billion in 2021 and is estimated to reach US$ 18.8 billion by 2032.
- The market witnessed high growth opportunities, which resulted in a historical (2017-2021) CAGR of 3.5% between 2017 and 2021.
- Mulch agricultural films rule the market, by type, due to their beneficial properties. The segment is currently valued at US$ 5.2 billion.
- At a CAGR of 6.3%, East Asia holds the crown of the global market with 47.3% market share.
- The U.S. market is estimated to showcase a CAGR of 4.1% throughout the projection period of 2022-2032.
- Agricultural films are used to produce silo bags, which account for 36.2% market share.
“LLDPE material is projected to see huge demand among end users and an immense sales opportunity for manufactures in the near future,” says a Fact.MR analyst.
Pivotal Strategy Analysis
The business environment of the agricultural films market is competitive and evolving in nature. Manufacturers such as BASF SE, Dow Inc., RKW Group, and others are adopting both, organic and inorganic strategies, to gain a major market share. They are addressing customer needs by focusing on their demand patterns and offering bio-degradable solutions.
Market players are also expanding their businesses across emerging economies to cater to the needs of customers and increase their profit margins.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global agricultural films market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of film (geomembrane, agricultural silage films, agricultural mulching films, greenhouse plastic/covering films), material (ethylene butyl acrylate, ethylene-vinyl acetate, low-density polyethylene, LLDPE, LLPE, HDPE, polypropylene, polyamide, EVA, ethylene vinyl-alcohol copolymer resins, PVC, others), and application (bale wrapping & ensiling, silo bag manufacturing, tunnel covers, bunker ensiling, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
These insights are based on a report on Satellite Communication Market by Fact.MR.
