- Global agricultural films market demand was 4,651.7 kilo tons in 2013 and is expected to grow at a CAGR of 6.0% from 2014 to 2020
- Mulching was the largest application of agricultural films and accounted for over 40% of the total market in 2013. Geographically, the consumption of film type varies according to different climatic conditions, crop patterns, and demand for crops.
- Greenhouse films are predominantly used in Asia and the Middle East due to an increasing demand for ornamental crops. Greenhouse is expected to emerge as the fastest growing application segment owing to high level of commercialization particularly in China and Europe.
- China was the dominant regional market in terms of production and consumption. The region accounted for over 60% of global demand in 2013 and is expected to witness the fastest growth in terms of market penetration. Increasing food demand coupled with large exports to other Asian and European countries may be attributed for high demand in the nation.
- Major industry participants have been investing heavily on R&D for commercializing biodegradable and longer shelf life products. Companies have been collaborating with biotechnology firms in order to ensure sustainable product innovation in near future. Key players operating in global agricultural films market include BASF, ExxonMobil, BP industries (BPI), Trioplast, Armando Alvarez, Ab Rani PlastOy, Group Barbier, Britton Group, Kuraray and Novamont.
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Agricultural films market to reach $10.53 billion by 2020
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