The global agricultural films market was pegged at US$10.05 bln in 2018 and is expected to reach US$16.56 bln by 2025, at a CAGR of 7.4% between 2019 and 2025, as per Zion Market Research. Agricultural films are manufactured using different raw materials, such as polymer and basic chemicals. These agricultural films have a wide range of applications, ranging from greenhouse films, mulch films, silage films, and geo-membrane films. The global agricultural films market is likely to experience significant in the upcoming years, owing to the rising food demand due to increasing population in developing economies and growing demand for agricultural films for various applications, such as greenhouse films, mulch films, silage films, and geo-membrane films.
Additionally, robust industrialization and easy availability of raw materials are also expected to drive the global agricultural films market in the years to come. However, stringent government regulations related to the manufacturing of agricultural films may act as a restraining factor for the growth of the agricultural films market globally. Alternatively, the growing focus on making environmentally sustainable agricultural films is likely to open new growth avenues for the major players of the agricultural films market globally.
The low-density polyethylene segment is anticipated to show the highest CAGR in the global agricultural films market over the forecast time period. The application segment of the global agricultural films market comprises greenhouse films, mulch films, silage films, and geo-membrane films. In 2018, the greenhouse and mulch films application segments dominated the agricultural films market globally.
In 2018, the Asia Pacific region was the largest agricultural films market globally. This regional growth can be mainly attributed to the rising regional population that is fueling the demand for food across the region. Moreover, the Asia Pacific agricultural films market is anticipated to be the fastest growing over the next few years, owing to the substantial developments witnessed in the region’s agricultural industry. China and India are major countries for the Asia Pacific agricultural films market. In 2018, China was a major market for agricultural films in the Asia Pacific and is expected to continue its dominance in the future as well. This can be due to the easy availability of raw materials, revitalized industrial sector, and large-scale production capacity. The rising domestic demand and easy access to resources have made the Asia Pacific region one of the leading producers as well as consumers of agricultural films. North America was the second largest agricultural films market in 2018 globally. The U.S. was the major contributor to the region’s agricultural films market growth. North American countries (the U.S., Canada, and Mexico) are observing a growing demand for agricultural films, as rising food demand is estimated to benefit this regional market growth in the future. However, current economic turnaround and developments will also fuel this region’s agricultural films market over the forecast time period.
Europe is expected to witness notable growth in the global agricultural films market over the forecast time period, owing to the increasing demand for environment-friendly agricultural films, rising domestic food demand, and growing production capacity of the regional agricultural sector. Latin America and the Middle East and Africa are projected to experience moderate growth in the agricultural films market in the projected time period, owing to the significant investments made by the international companies in various agricultural films projects in these regions.