Greenhouse Films Market Overview:
According to the report by Market Research Future (MRFR), the global greenhouse films market was valued at USD 3,956.2 million in 2017 and is expected to grow to a valuation of USD 6,408.2 million by 2023 at an 8.25% CAGR from 2018 to 2023 (forecast period).
Greenhouse films Market are used to cover the plants being grown in a greenhouse in such a way as to maximize the amount of light entering within and to minimize the entry of other harmful environmental elements that could hamper the growth of the plants. The Greenhouse market has capitalized on the agriculture industry’s inability to meet the demands of the growing global population.
Increasing government spending on agricultural schemes to maximize food production through innovative means is likely to result in a growing demand from the market. Technological advancement in greenhouse films is also likely to be a major driver for the global greenhouse films market. UV-protective and pressure-stabilized greenhouse films, which offer enhanced protection for the plants being grown in the greenhouse, are likely to be exceedingly popular in the coming years, leading to steady growth of the greenhouse films market.
Greenhouse Films Market Competitive Analysis:
Leading players in the global greenhouse films market include Ginegar Plastic Products Ltd. (Israel), Vis and Son Company Limited (Thailand), RPC Group plc (U.K.), Essen Multipack (India), Agriplast Tech India Pvt. Ltd. (India), Beijing Kingpeng International Hi-Tech Corporation (China), Central Worldwide Co. Ltd. (Thailand), Thai Charoen Thong Karntor Co. Ltd. (Thailand), Tuflex India, Lumite Inc. (U.S.), and Agriplast (Italy). UbiQD Inc. announced in November 2018 that it has launched a quantum dot-containing greenhouse film that tilts the solar spectrum towards the red wavelengths. This product has resulted in promising outcomes in trials, with the technology resulting in a boost of more than 10% in crop yield.
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Segmental Analysis
The report segments the global greenhouse films market by resin type into LDPE, LLDPE, HDPE, PVC, PC, EVA, and EBA. By material, LDPE and LLDPE are likely to be the major contributors to the global greenhouse films market over the forecast period. LDPE material can accumulate value at 8.43% CAGR over the forecast period.
By thickness, the market is segmented into <200 microns, 200 microns, and >200 microns. The <200 microns and 200 microns segments are likely to remain dominant in the global greenhouse films market.
By application, market is segmented into vegetables, fruits, flowers and ornamentals, and others. Vegetables are likely to be the major contributor to the global greenhouse films market over the forecast period due to their growing demand across the world.
Regional Analysis:
By region, the report segments the global greenhouse films market into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Asia Pacific is expected to be the major regional market for greenhouse films over the forecast period due to the growing demand for greenhouse films in countries such as China, Thailand, and India. China is the world’s largest producer of vegetables and is likely to adopt greenhouse farming on an increasing scale in the coming years in order to satisfy the growing demand for vegetable crops from around the world. The increasing demand for “ayurvedic” plants and herbs in India is also likely to lead to growing demand from the greenhouse films industry in Asia Pacific over the forecast period. It can exhibit 8.74% CAGR over the forecast period.
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