March 30, 2021
According to the report titled ‘Global Greenhouse Film Market Size study, by Thickness (80 to 150 microns, 150 to 200 microns and More than 200 microns), by Resin Type (LDPE, LLDPE, EVA and Others), by Width (4.5 M, 5.5 M, 7 M, 9 M and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global greenhouse film market was remunerated at USD 5.8 billion in 2019 and is estimated to reach USD 12.7 billion valuation by 2027, growing at an yearly rate of 10.3% throughout.
Booming populace, increase in government expenditure on agricultural schemes to escalate food production through technological innovations, and rising popularity of greenhouses are primarily fostering the growth of global greenhouse film market.
According to the Department of Agriculture, Cooperation and Farmers Welfare, the government of India, in association with NABARD (National Bank for Agriculture and Rural Development, started the Micro Irrigation Fund in 2018, with allocation of USD 66.67 million to promote public and private financing in micro irrigation.
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Notably, greenhouse film stabilizes the temperature inside the greenhouse by managing the amount of sunlight. It facilitates in covering the plants and saving them from extreme weather conditions such as snow, fluctuating temperature, strong winds, and heavy rains.
Launch of new products and tactical alliances among leading contenders will further stimulate the growth of global greenhouse film market. For example, on 17th January 2020, Berry Global Inc. declared USD 20 million investment towards the amplification of its capacity to produce breathable films.
On the other hand, harmful effect of plastics on the environment and high cost of installation are factors impeding market growth.
Based on film thickness, worldwide greenhouse film market can be divided into 80-150 microns,150-200 microns, and more than 200 microns. As per width, the marketplace is segmented into 4.5M, 5.5M, 7.5M, 9M, and others. While speaking of resin types, the industry is segregated into EVA, LDPE, LLDPE, and others.
Regionally speaking, the report analyses the global greenhouse film market with respect to Europe, North America, Latin America, Asia Pacific, and the rest of the world. Among these, North America is slated to generate significant revenues over 2020-2027, on account of unfavorable weather conditions for agriculture which is encouraging greenhouse farming practices.
EIFFEL Industry Plastics S.p.A., A. A. Politiv Ltd., Agriplast Tech India Private Limited, Essen Multipack Limited, Polifilm Extrusion GmbH, Berry Global Inc., Ginegar Plastic Products Ltd., Plastika Kritis S.A., The RKW Group, and Armando Alvarez Group are key contenders in global greenhouse film market.