Global Mulch Films Market to Reach $4.8 Billion by 2026
SAN FRANCISCO, Aug. 11, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Mulch Films – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: May 2021
Executive Pool: 2669
Companies: 56 – Players covered include Ab Rani Plast Oy; Armando Alvarez Group; BASF SE; Berry Plastics Corporation; BioBag International AS; Coveris (Austria); Dubois Agrinovation; Group Barbier; IRIS POLYMERS INDUSTRIES PVT LTD; Kuraray Europe GmbH; Novamont S.p.A.; Organix Solutions; Plastika Kritis S.A.; RKW SE; Robert Marvel Plastic Mulch LLC; Tilak Polypack Pvt. Ltd.; Trioplast Industrier AB and Others.
Coverage: All major geographies and key segments
Segments: Type (Black, Colored, Clear/Transparent, Degradable, Other Types); Element (LLDPE, LDPE, EVA, PLA, PHA, Other Elements); Application (Agriculture, Horticulture)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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Global Mulch Films Market to Reach $4.8 Billion by 2026
Mulch films, plastic coverings for plants, are designed for preserving the moisture level in soil. The films comprise a material layer applied to the surface of the soil, which protects the plants. The world’s expanding population and the subsequent increase in food demand is driving sustained growth in the global agriculture industry, thus presenting positive outlook for the mulch films market. The constant decline in arable land worldwide and growing need to improve crop productivity, reduce crop wastage also augur well for the market. Also benefiting the market is the steady improvements in farming techniques being witnessed around the world. Mulch films are witnessing an increasing demand in agricultural fields to address concerns related to excessive soil moisture loss caused by evaporation; especially, in dry regions. Increasing environmental concerns are expected to increase the usage of biodegradable mulch films, thereby fueling the mulch film market growth. Additionally, high growth prospects and consistent progress in emerging markets as well as other untapped regions is offering growth opportunities to key players in the mulch film market.
Amid the COVID-19 crisis, the global market for Mulch Films estimated at US$3.5 Billion in the year 2020, is projected to reach a revised size of US$4.8 Billion by 2026, growing at a CAGR of 5.5% over the analysis period. Black, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$1.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Colored segment is readjusted to a revised 5.8% CAGR for the next 7-year period. Black mulch films are witnessing an increase in demand due to the varied benefits offered by the type. The films prevent weed growth on farmland; as well as maintain the soil warmth for improving crop yield by trapping the energy of the sun. The mulch’s color influences soil temperature, mulch’s surface temperature, as well as the light reflected into the plant canopy. At present, new colors such as orange, gray, blue, yellow and red are being investigated.
The U.S. Market is Estimated at $707.7 Million in 2021, While China is Forecast to Reach $1 Billion by 2026
The Mulch Films market in the U.S. is estimated at US$707.7 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2026 trailing a CAGR of 7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR. Asia-Pacific, along with China, remains a major regional market for mulch films. The region’s vast population base, the high demand for food in the region, and the growing adoption of agricultural technologies are fueling region’s growth. In North America, mulch films market will be driven by an increase in the adoption of improved farming techniques including biodegradable mulch films. The US is witnessing high demand for mulch films due to the strong demand for biodegradable mulch films. New farming methods and increase in awareness in regards to mulch films is also driving the growth of the market in the region. Growth in Europe market is being driven by increase in greenhouse agriculture; changing climatic conditions; as well as an increase in horticulture and floriculture practices.
Clear/Transparent Segment to Reach $1 Billion by 2026
Growth in the clear/transparent mulch films segment is mainly driven by their ability to block about 80%-90% of sun’s infrared radiations. The films play a vital role in maintaining soil warmth, reducing growth of weeds, and conserving water, thereby leading to easy harvesting and increased crop yield. In the global Clear/Transparent segment, USA, Canada, Japan, China and Europe will drive the 6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$465.4 Million in the year 2020 will reach a projected size of US$699.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$107.4 Million by the year 2026, while Latin America will expand at a 7.3% CAGR through the analysis period. More
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SOURCE Global Industry Analysts, Inc.