According to the report, global mulch film market was valued at USD 3.34 billion in 2017 and is expected to reach USD 4.96 billion in 2024, growing at a CAGR of 6.8% between 2018 and 2024.
New York, NY, July 19, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Mulch Film Market By Type (Black, Clear/Transparent, Colored, Polypropylene & Polyethylene, and Degradable), by Application (Agricultural Farms and Horticulture): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, global mulch film market was valued at USD 3.34 billion in 2017 and is expected to reach USD 4.96 billion in 2024, growing at a CAGR of 6.8% between 2018 and 2024.
Mulch films are generally used in various applications such as for maintaining temperature & retaining moisture in the soil, providing nutrients, bolster seed germination and aesthetics, ultraviolet (UV) ray protection, slacken weed activity, and for reducing soil erosion & compaction. Rising food demand owing to increasing population of the world is expected to fuel the growth of mulch film market within the forecast period. Mulch film is useful in low rainfall area, where less water is available to use for farming. This advanced technique is becoming popular rapidly and is being adopted by the agro-based economy in developing countries.
Browse through 55 Tables & 29 Figures spread over 110 Pages and in-depth TOC on “Global Mulch Film Market Size, Share 2017: Industry Trends, Statistics, and Forecast to 2024”.
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The mulch film market is driven by various factors such as adoption of mulching technology in agriculture and effective usage of water in crop cultivation is estimated to drive the mulch film market during the years to come. Moreover, rising demand for food owing to the increasing population and rising cultivable land is anticipated to drive the global mulch film market over the next 7 years. However, this market has certain drawbacks such as high cost of installation and harmful effects of plastics on the environment. These factors may act as a barrier to the mulch film market growth. Innovations in mulch films including biodegradable mulch films and strong progress in emerging markets are the major opportunities for the mulch film market.
The mulch film market is segmented into type, application, and region. On the basis of the key type, the global mulch film market is divided into black mulch, clear/transparent, colored mulch, polypropylene & polyethylene and degradable mulch. Black mulch films held a lion market share in 2017. Clear/transparent mulch film traps around 80% to 90% infrared radiations from the sun to conserve water suppress weed, soil warm, resulting in high crop yield and easy to harvest. Clear/transparent film type is anticipated to exhibit fastest CAGR over the next 7 years. Based on the applications, the global mulch film market is categorized into agricultural farms and horticulture.
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In 2017, Asia Pacific led the market and is expected to be the fastest growing market within the forecast period. In China and India, growing adoption of advanced technology related to agriculture creates the favorable condition to mulch film market. Moreover, availability of huge cultivable lands along with increased demand for crop production from economies including China, South Korea, India, and others is expected to further boost the market. Biodegradable mulch film has a positive growth in this region. China is the dominating countries for mulch films as the country faces urbanization and industrial growth which has accelerated the food demand and has changed the lifestyle of people in the region.
Rising greenhouse agriculture, increasing requirements for floriculture & horticulture and uncertain climatic conditions are expected to propel the market penetration in Europe. Furthermore, rising use of greenhouse films for better cultivation and growing crop under the controlled atmospheric condition is also expected to fuel the mulch film market during the forecast period. Europe generated around 15,000 tons of waste according to Agriculture Plastics Environment, in 2016 that remained on agricultural land. Rising inorganic mulching waste in the agricultural lands led to harmful effects on crop yields and plant growth. However, shifting consumer trend towards biodegradable materials in the region is projected to drive the industry growth.
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North America is expected to witness moderate growth rates within the forecast period owing to the increasing adaption of advanced farming techniques in the region. North America is led by the U.S. owing to the shifting consumer preference towards biodegradable films acts as a major catalyst for mulch film market in the forecast period.
The Middle East and Africa are anticipated to be a potential market for mulch film. Due to water scarcity in this region, the utilization of mulch film is increasing as it requires adequate water. The Middle East is one of the largest manufacturers of LLDPE which is one of the raw materials used for mulch film. In Latin America, due to the advancements in agricultural technologies along with the availability of cultivable lands and new horticultural technology implementation to enhance crop yield is projected to fuel the growth of the market in economies such as Argentina and Brazil.
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The key manufacturers in the global mulch film market are British Polythene Industries PLC, ExxonMobil Chemical, AEP Industries Inc., BASF SE, Britton Group, Ab Rani Plast Oy, Group Barbier, Kuraray Group, Plastika Kritis S.A., and The Dow Chemical Company among others.
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This report segments the mulch film market as follows:
Mulch Film Market: By Type
- Polypropylene & polyethylene
Mulch Film Market: Application Analysis
- Agricultural Farms
Mulch Film Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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