The agricultural films market size is estimated to be USD 11.5 billion in 2021 and is expected to reach USD 15.7 billion by 2026, at a CAGR of 6.5% during the forecast period. Factors such as global focus on increasing agricultural output and increasing demand from the dairy industry will drive the agricultural films market. The major restraint for the market will be high cost of installation and adverse effect of plastics on the environment. However, increased used of biodegradable films in developed regions will act as an opportunity for the market.
The key market players profiled in the report include Berry Global Inc. (US), Kuraray Co. Ltd. (Japan), Coveris (Austria), The RKW Group (Germany), BASF SE (Germany), AB Rani Plast OY (Finland), the Dow Chemical Company (US), Grupo Armando Alvarez (Spain), and Plastika Kritis S.A. (Greece).
Players in the agricultural films market are mainly concentrating on new product launches, and acquisitions to meet the growing demand for agricultural films for various applications. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
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The growth of the agricultural films market has been influenced by new product launches that were undertaken between 2016 and 2020. Companies such as Berry Global and Kuraray Co. Ltd. have adopted inorganic developments to enhance their market position.
Berry Global is one of the major players in the agricultural films market. In order to strengthen their product portfolio, the company is focusing on acquisition for meeting client’s requirements. For instance, In august 2018, the company acquired laddawn, Inc. Laddawn is a manufacturer of blown polyethylene and films with an e-commerce platform. With this acquisition Berry Global Inc. aims to expand their engineered product segment on web and mobile sales. Similarly, Berry Global Inc, acquired RPC Group Plc with an aim to become the global leader in plastic and recycled plastic industry.
The companies also adopted Investment as a strategy to increase their share and market presence. For instance, in 2019, Berry Global Inc invests in an energy efficiency retrofit program to decrease the carbon emission, this investment is to support their impact 2025 sustainability strategy.
On the other hand, BASF SE, another major player in this market in November 2020, expanded its plastic additives business in Pontecchio. Italy, it will deliver a wider range of NOR solutions which will help in growing its agriculture industry.
Another player AB Rani Plast OY has launched new products in May 2020, RaniSilo2 is a silage film for protection and easier covering to ensure feed quality. Similarly, AB Rani Plast Oy launched a new oxygen barrier underlayer to reduce the air trapped in silage sheet.
Agricultural Films Market by Type (LLDPE, LDPE, Reclaim, EVA, and HDPE), Application ((Greenhouse Film (Classic Greenhouse, Macro Tunnel), Silage Film (Silage Stretch Wrap), and Mulch Film (Transparent or Clear Mulch)) and Region -Global Forecast to 2026
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