Market Research Report
Mulch Films - Global Market Outlook (2019-2027)
|Published by||Stratistics Market Research Consulting||Product code||942485|
|Published||Content info||160 Pages
Delivery time: 2-3 business days
|Mulch Films - Global Market Outlook (2019-2027)|
|Published: June 1, 2020||Content info: 160 Pages||
According to Stratistics MRC, the Global Mulch Films Market is accounted for $3.75 billion in 2019 and is expected to reach $7.16 billion by 2027 growing at a CAGR of 8.4% during the forecast period. Some of the key factors propelling the market growth include rise in population, increase in the per capita income of consumers, adoption of mulching technology in agriculture, enhanced use of solar energy to control crop pests and technological advancements in farming coupled with growing awareness regarding crop wastage reduction. However, high cost of installation is likely to hamper the market. Moreover, increasing government awareness programs to adopt advanced farming techniques in developing countries is expected to create a new opportunity for players operating in the target market.
Mulch films are the plastic coverings designed for plants. These are designed to preserve the level of moisture in the soil. Due to evaporation, significant loss of soil moisture is observed which has raised the demand of mulch films among the agricultural areas. Also, to fulfill the need of food for growing population, demand for mulch films is increasing.
By product, the use of biodegradable mulch films has rapidly increased during the recent past owing to its organic ingredients that are eco-friendly. Also, these pose no harm to the consumer or the ecosystem. These mulch films are used both in semi biodegradable and fully biodegradable form. Semi biodegradable mulch films have PE (Polyethylene) and are cost-effective therefore they are used effectively. Biodegradable mulch films are developed from organic material derived from plants & animals and is decomposed automatically into the soil, unlike PE mulch films. It is predicted that biodegradable mulch films are expected to witness a high demand during the forecast period because they nurture crop and soil, reduce contamination and control weeds.
On the basis of geography, Asia Pacific region is expected to witness lucrative growth during the forecast period due to the growing population and shrinking agricultural land. China, being densely populated was the leading consumer of mulch films followed by India due to rapid urbanization and improved living standards. The country faces industrial growth and urbanization which has led to the higher standards of living among consumers, resulting in the rise for food products.
Some of the key players in mulch films market include Berry Global Inc., AEP Industries Inc., Tilak Polypack Pvt. Ltd., Ab Rani Plast Oy., RKW Agri Gmbh & Co., Industrial Development Company Sal (Indevco), Dow Chemical Company, BASF SE, Exxon Mobil Corp, Ginegar Plastic Products Ltd., Al-Pack Enterprises Ltd, Trioplast Industrier AB, FKuR Kunststoff GmbH, Novamont S.p.A., Armando Alvarez Group, BioBag International AS, Britton Group, Plastika Kritis S.A., Kuraray Group, and British Polythene Industries PLC.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.