Agricultural Films Market size to surpass USD 17.5 billion by 2030

Agricultural Films Market size is projected to surpass a valuation of USD 17.5 billion by 2030, according to a new research report by Global Market Insights Inc.
 

Growing adoption of more sustainable and cost-effective farming practices such as greenhouses, ground covers, and mulching due to the increasing emphasis on improving food security as a prime factor driving the demand for agricultural films. The smart greenhouses industry, for instance, recorded revenues of over USD 1.3 billion in 2022, registering significant growth from a valuation of USD 680 million in 2016.
 

These techniques help farmers protect their crops with an added layer of protection while conserving soil moisture and eliminating the need for toxic herbicides and chemicals. Additionally, the escalating R&D projects worldwide to develop more efficient and cost-effective products and introduce progressive technologies in the farming sector will accelerate the agricultural films market growth between 2022 and 2030.
 

Broad application spectrum to drive the demand for LLDPE agricultural films

Based on raw material, linear low-density polyethylene (LLDPE) segment to emerge as a lucrative revenue pocket, generating more than USD 5 billion in revenues by 2030. Linear low-density polyethylene (LLDPE) agricultural films are used in a variety of agricultural applications such as tunnels, mulching, silage, bale wraps, and greenhouse films due to their exceptional characteristics. LLDPE films are touted for their superior resistance against moisture, cracking, and sunlight. They are puncture-proof and depict appropriate low-temperature properties that may foster their adoption in the forthcoming years.
 

Technological advancements to spur the adoption of greenhouse films

Agricultural films market from greenhouse applications is projected to record around 4% growth rate between 2022 and 2030. Greenhouses have gained tremendous popularity as they help flowers, fruits, and vegetables ripen faster while ensuring high quality and protecting them from adverse environmental conditions such as wind, frost, and rain. The increasing efforts by major agricultural film manufacturers to develop specifically tailored products to satisfy the unique temperature and light requirements of several field-growth fruits and vegetables will aid the segment's 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
 

Supportive government policies to push product demand across Europe

Europe agricultural films market is anticipated to account for over USD 2 billion by 2030. The regional growth is attributed to the flourishing landscape of the livestock industry, backed by the rising demand for animal-based food products. The region is one of the significant agri-food producers and has a significant contribution to global food security. Moreover, the supportive government initiatives to increase the penetration of advanced farming techniques may further propel the industry share across Europe.
 

Footprint expansion to emerge as a key growth strategy

Major companies 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 firms have been focusing on expanding their global footprint and product line to safeguard their position in the market and pave the way for future growth opportunities. For instance, in November 2020, BASF unveiled a plan to expand its manufacturing plant in Pontecchio Marconi, Italy. The new establishment offers a more comprehensive range of NOR solutions used in the production of nettings, macro & small tunnels, greenhouse covers, and substrate bags. This tactical move allowed BASF to cater to agriculture film customers in the European region.