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(EuropeNewsWire.Net, March 20, 2020 ) Market Overview:
The Global Agricultural Plastics Market is expected to grow at a high CAGR of 5.6% during the forecasting period (2019-2026).
The use of plastic in the field of agriculture, horticulture and other related farming practices is referred to as plasticulture. Plastic in the form of film sheets, nets, tubes, and bags are used in several applications across the farming practices. Water management, plant protection and nutrient management are the major applications for utilization of plastics in agriculture. Plasticulture evolved as an effective solution for declining water resources and eroding soil nutrients across the globe. The benefits of plant protection agricultural plastics include low water consumption, prevention of pest contamination and reduced soil erosion.
The rising demand food products and declining agricultural resources is promoting the need for effective farming practices that offer greater agricultural produce obeying law of minimum. Greenhouse, mulching and plant tunnels help protect soil moisture and lower water and nutrient requirement, thus supporting precision farming. However, the high initial costs of plastic films and field preparation is restricting the adoption of plastic films in several developing economies. Moreover, ineffective post-harvest management of plastic residues has been resulting in severe plastic population in soil. The development of biodegradable plastic films is estimated to outweigh this challenge in near future. The advent of plastic waste management technologies is the point of focus for most of the leading ag-plastic manufacturers. Furthermore, the surging adoption of vertical farming methods is likely to support market growth as these methods are suitable for practice in closed farm environments.
Plastics are used is broad spectrum of applications including plant protection, hay and forage storage, and water management. Ag plastics are extensively used as greenhouse films, mulching films and tunnels to provide adequate growth conditions for the plants. Mulching film is the largest segment of plasticulture with a share of nearly 40% in terms of dollar sales in 2018. With around 32% of the global ag-plastic sales volume, low density polyethylene (LDPE) evolved as the major material type of plasticulture market
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The global agricultural plastics market is highly fragmented with the foothold of large number of companies. Conglomerates such as BASF SE, The Dow Chemical Company and ExxonMobil Chemical are also involved in development of next-generation agricultural plastics including biodegradable films. However, several research organizations and environment protection agencies are focused towards promotion of organic mulches that make use of plant wastes. Other key players in the agricultural plastics are Novamont S.p.A., Trioplast Group, Grupo Armando Alvarez, and Berry Global
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