Greenhouse Film Market to Grow with a CAGR of 5.00% through 2028
Growth in
research and development activities is expected to drive the Global Greenhouse
Film Market growth in the forecast period, 2024-2028
According to
TechSci Research report, “Greenhouse Film Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the Global
Greenhouse Film Market stood at USD 5.92 billion in 2022 and is anticipated to
grow with a CAGR of 5.00% in the forecast period, 2023-2028. The initiatives
taken by government based on Greenhouse Film has led to favorable market
conditions for the Global Greenhouse Film Market. Several factors contribute to
the growth of various Greenhouse Film products.
The U.S.
Department of Energy, recognizing the pressing issue of plastic waste, has made
a significant investment of $13.4 million towards tackling the challenges of
plastic waste recycling. This strategic investment aligns perfectly with the
Biden Administration's strong commitment to combat plastic waste and reduce
plastic pollution, ultimately fostering a cleaner and more sustainable
environment. As a result, this funding indirectly supports the development and
utilization of innovative and eco-friendly solutions, such as biodegradable
greenhouse films, that offer a more sustainable alternative to traditional
plastics.
In a proactive
move to prevent plastic pollution, the Draft National Strategy has introduced a
range of incentives to encourage innovation in reducing plastic usage and
increasing recycling efforts. By incentivizing the development and adoption of
more sustainable practices, this strategy has the potential to significantly
boost the production and utilization of recyclable or compostable greenhouse
films. These films not only serve as effective tools in greenhouse cultivation
but also contribute to the circular economy by minimizing plastic waste and
promoting a more sustainable approach to agriculture.
The New Plastics
Economy Global Commitment, a collaborative initiative launched by the Ellen
MacArthur Foundation and the UN Environment Programme in 2018, brings together
businesses and governments from around the world in a unified pledge to address
the pressing issue of plastic waste and pollution. This commitment serves as a
powerful catalyst in driving the adoption of eco-friendly alternatives in the
greenhouse film market. By encouraging the transition to more sustainable
materials and practices, the commitment seeks to reshape the greenhouse film
industry and promote a more circular and regenerative approach to plastic
usage.
By investing in
research and development, incentivizing innovation, and fostering collaboration
among stakeholders, these initiatives are collectively working towards a future
where plastic waste is minimized, plastic pollution is reduced, and more
sustainable alternatives are embraced in the greenhouse film market.
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Research and
development (R&D) play a critical role in driving the growth of the
greenhouse film market. These activities enable companies to develop innovative
products that cater to the specific needs of farmers and greenhouse operators.
For instance, technological advancements have led to the production of
greenhouse films with enhanced UV resistance, anti-drip, and anti-fog
properties, allowing for better control of the greenhouse environment and
resulting in increased crop yield and quality.
Moreover,
R&D initiatives have also contributed to the creation of more sustainable
and eco-friendly greenhouse films. With the global focus on sustainability and
the reduction of plastic waste, there is a growing demand for such products.
Biodegradable and recyclable greenhouse films, developed through extensive
research, are gaining popularity in the market.
The Global
Greenhouse Film Market is segmented into resin type thickness, application,
regional distribution, and company.
Based on its resin
type, the Low-Density Polyethylene (LDPE) segment held the largest share in the
market. Various factors, including the increasing need for high-quality film to
withstand and protect against adverse climatic conditions, are anticipated to
be key drivers for the greenhouse film market. As the demand for optimal
growing environments continues to rise, the greenhouse film industry is
expected to experience significant growth.
When compared to
other resin types, LDPE stands out with its exceptional properties. Not only
does it offer superior thickness and optical properties, but it also exhibits
excellent resistance to excessive sunlight and the external environment. These
unique attributes are projected to fuel the growth of the LDPE resin-based
greenhouse film market. With its exceptional performance and durability, LDPE
resin-based films are well-positioned to meet the increasing demands of the
agricultural sector for effective and reliable greenhouse solutions.
Based on region,
Asia Pacific segment is expected to grow during the forecast period.
Various factors
have contributed to the increasing demand for greenhouse film in the region.
One of the key drivers is the growing need for maintaining appropriate
environmental conditions in greenhouse cultivations. As the importance of
sustainable agriculture and controlled farming practices rises, the use of
greenhouse film becomes crucial.
Greenhouse film
plays a vital role in protecting crops against adverse weather conditions such
as frost, wind, rain, and fluctuating temperature. Not only does it provide a
shield for the crops, but it also ensures high quality and faster ripening,
enabling multiple harvests in a year. This advantage of greenhouse film opens
up opportunities for farmers to cultivate a wider variety of crops and maximize
their yields.
The greenhouse
film industry is poised for significant growth, thanks to the increasing focus
on enhancing agricultural yield and addressing the demand for nutritious food
products. With the rise in indoor farming practices, the need for controlled
environments has become paramount. Greenhouse films enable the cultivation of
crops such as tomatoes, lettuce, basil, and cucumbers, even during their
off-season. This not only ensures a steady supply of these crops throughout the
year but also helps in reducing their costs, as they are no longer limited to
specific seasons.
Major companies
operating in Global Greenhouse Film Market are:
- Gineger
Plastic Products Ltd.
- RKW
SE
- Plastika
Kritis S.A.
- Agriplast
Srl
- Essen
Multipack Ltd.
- Berry
Global Group, Inc.
- Polifilm
Extrusion GmbH
- Armando
Alvarez SA
- FVG
Folien-Vertriebs GmbH
- Eiffel
S.p.A.
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“Growing
application of Greenhouse Film in various end user industries are key drivers
of the Greenhouse Film Market. Growth in competitive landscape and presence of
well-established companies in the market who are dedicated to enhance their
productivity of Greenhouse Film with every passing year are anticipated to
register an impressive growth to Global Greenhouse Film Market in the forecast
period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Greenhouse
Film Market - Global Segmented By Resin Type (Low-Density Polyethylene (LDPE), Ethylene-Vinyl
Acetate, Linear Low-Density Polyethylene (LLDPE), Others), By Thickness (80-150
microns, 150-200 microns, Greater than 200 microns), By Application (Fruits,
Vegetables, Flowers, Ornamental Plants), By Region, By
Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Greenhouse Film Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Greenhouse Film Market.
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