The Global Agricultural Films Market was valued at USD 7.48 Billion in 2016 and is projected to reach 10.57 Billion by 2022, at a CAGR of 5.9% from 2017 to 2022. In this report, 2016 is considered as the base year and the forecast period is from 2017 to 2022.
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EVA (Ethylene-vinyl acetate) type to register the highest CAGR in the agricultural films market between 2016 and 2021
The agricultural films market is segmented by type, namely, LLDPE, LDPE, Reclaim, EVA, HDPE, and others. EVA type is expected to register the highest CAGR in the agricultural films market between 2016 and 2021. The higher CAGR of EVA over other types is because of its durability and effective light transmission property. It offers advantages such as softness, flexibility, clarity, barrier, waterproof properties, resistance to crack & stress and ultraviolet radiations, and optical and mechanical properties.
Silage film to be the fastest growing application of the agricultural films market during forecast period
Silage film is projected to be the fastest-growing application of the agricultural films market during the forecast period due to rising feed costs. Silage films provide an airtight cover which avoids about 90% of food spoilage. The demand for silage films is estimated to rise at the highest rate in Asia-Pacific due to increased need for good quality barrier films. Moreover, the mechanical properties of the silage film make it suitable to be used in the agriculture sector.
Asia-Pacific to be the fastest growing market for agricultural films during the forecast period
The Asia-pacific Agricultural Films Market is expected to grow at the highest rate during the forecast period. The growing population in Asia-Pacific coupled with the increased demand for controlled agriculture is driving the market for agricultural films. In addition, the massive agricultural growth and increased demand for food in key countries such as China and India, contributed to the growth of the agricultural films market in the region. China and India are the key agricultural films markets in the region.
Key players operating in the global agricultural films market include BASF (Germany), Dow Chemical (U.S.), Berry Global (U.S.), The RKW Group (Germany), Trioplast Industrier AB (Sweden), Ab Rani Plast Oy (Finland), RPC Group (U.K.), Grupo Armando Alvarez (Spain), Kuraray (Japan), and Coveris (U.S.). Most of these companies have adopted expansions and mergers & acquisitions as key growth strategies to strengthen their presence in the global agricultural films market. The rising demand for agricultural films from various end users has fueled R&D activities for the development of advanced agricultural films, thereby providing new growth avenues for the manufacturers of agricultural films.
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