The Agricultural Films Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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In accordance with The Business Research Company's Agricultural Films Global Market Report for 2024, the dimensions of the agricultural films market have exhibited robust expansion in recent years. Projected to surge from $11.04 billion in 2023 to $11.85 billion in 2024, a notable compound annual growth rate (CAGR) of 7.3% underscores this dynamic evolution. The momentum in the historical context is ascribed to a confluence of factors: the escalating global populace, imperative demands for food security, the advent of greenhouse farming, governmental subsidies, and the pervasive impact of climate change.
Forecasts augur continued vigor in the agricultural films sector, poised to ascend to $15.94 billion by 2028, registering a compelling CAGR of 7.7%. This anticipated growth in the forecast horizon can be linked to heightened awareness surrounding organic farming, intensified research and development initiatives, evolving consumer preferences, escalating urbanization trends, and the widespread adoption of precision agriculture. Noteworthy trends projected in this period encompass the ascendancy of biodegradable films, the integration of nanotechnology in film production, the emergence of multi-functional films, and the proliferation of customized film solutions.
The increase in focus on improving agricultural output globally is expected to propel the growth of the agricultural films market going forward. Agricultural productivity, often known as output, is defined as total output per unit of a single input; partial factor productivity (PFP) metrics include land productivity (yield) and labour productivity. The growing population coupled with the demand for food and reduction in agricultural lands enhance the demand for productivity on existing agricultural lands. For instance, in January 2022, according to United States Department of Agriculture, a US-based governmental department, in the US, corn for grain production in 2021 was estimated at 15.1 billion bushels, up 7 percent from the 2020 estimate. The average yield in the United States was estimated at a record high of 177.0 bushels per acre. Therefore, the increasing focus on improving agricultural output drives the growth of the agricultural films market.
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The agricultural films market covered in this report is segmented –
1) By Type: Low-Density Polyethylene, Linear Low-Density Polyethylene, High-Density Polyethylene, Ethylene Vinyl Acetate, Other Types
2) By Film: Geomembrane, Agricultural Silage Films, Agricultural Mulching Films, Greenhouse Plastic Or Covering Film
3) By Application: Agricultural Films For Bale Wrapping And Ensiling, Agricultural Films For Silo Bags Manufacturing, Agricultural Films For Tunnel Covers, Agricultural Films For Bunker Ensiling
The introduction of biodegradable polymers to enhance production is shaping the agricultural film market. Major corporations are investing in biodegradable polymers with competitive mechanical properties in order to replace petroleum-based commodity plastics. For instance, in March 2022, Solvay S.A., a Belgian-based chemical manufacturing company, launched Jaguar. Jaguar is a guar-based biodegradable polymer solution that can be used to develop sustainable farming methods. This material provides greater strength and an aesthetic appearance.
The agricultural films market report table of contents includes:
1. Executive Summary
2. Agricultural Films Market Characteristics
3. Agricultural Films Market Trends And Strategies
4. Agricultural Films Market - Macro Economic Scenario
5. Global Agricultural Films Market Size and Growth
.....
31. Global Agricultural Films Market Competitive Benchmarking
32. Global Agricultural Films Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Agricultural Films Market
34. Agricultural Films Market Future Outlook and Potential Analysis
35. Appendix
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