As per Transparency Market Research (TMR), the global market for agricultural films is anticipated to witness substantial growth over the next few years, thanks to the significantly increasing competition between the key players. With the constant entry of new players, the competition within this market is anticipated to intensify further, creating lucrative growth opportunities for the market in the near future. AB Rani Plast Oy, Armando Alvarez, AEP Industries, Britton Group, BASF, Berry Plastics, British Polyethylene Industries, Dow Chemicals, ExxonMobil, Novamont, Hyplast NV, Kuraray, and Trioplast are the most prominent participants in this market, states the research report.
According to a new report by TMR, the worldwide market for agricultural films offered an opportunity worth US$5.8 bn in 2012. Expanding at a remarkable CAGR of 7.60% between 2013 and 2019, the market is projected to reach US$9.6 bn by the end of the forecast period. Low-density polyethylene (LDPE), ethyl vinyl acetate/ethylene butyl acrylate (EVA/EBA), reclaims, linear LDPE (LLDPE), and high-density polyethylene (HDPE) are the key products available in this market. Among these, the demand for LDPE agricultural films is relatively higher and the trend is expected to continue to do over the next few years, states the research report.
Asia Pacific to Lead Global Agricultural Films Market
In this research report, the geographical spread of the global market for agricultural films has also been studied thoroughly. North America, Europe, the Middle East and Africa, Central and South America, and Asia Pacific have been considered as the main regional markets for agricultural films in this market study. Among these, Asia Pacific has occupied the leading position, thanks to the high growth of fruit crops, such as tomatoes, cucumber, strawberries, and many others, in this region. The Asia Pacific market for agricultural films is anticipated to remain on the top over the next few years.
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Increasing Demand for Food Support Market’s Growth
“The increasing demand for food across the world is driving the global agricultural films market significantly,” says a research analyst at TMR. The constant depletion in arable land is also boosting the growth of this market, considerably. Going forward, the market is likely to gain from the cost efficiency these films offer in contrast to traditional farming techniques over the next few years. Apart from this, the surge in the standards of farming across the world is also projected to support this market in the years to come. However, the market will face serious challenge from the adverse effect of agricultural films on the environment in the near future, reports the research study.