The Latin America agricultural films market is expected to reach USD 1.48 billion in 2024 and is anticipated to reach USD 2.06 billion by 2029, growing at a 6.93% CAGR from 2024 to 2029.
Agricultural films are used for covering greenhouses and are used to cover over soil or wrapped around fodder. They aid in the improvement of crop quality and rise overall productivity. Increasing need to rise agricultural productivity to fulfill the daily requirement of population has led to commercialization of these specialty coverings.
Growing requirement for food owing to rise in population coupled with the increasing requirement for optimum agricultural productivity is expected to drive market growth. The rise in requirement for high-quality crops and decline in arable land is projected to raise product requirements over the coming years. Various innovations in the industry, including Ultra Violet (UV) blocking, florescent, NIR blocking, and ultra-thermic films are expected to impact product requirements positively over the coming years. However, environmental concerns regarding product disposal and strict government regulations regarding plastics and polyethylene are expected to hamper growth in near future and affect agricultural films market growth. However, the introduction of biodegradable and bio-based polymer films is expected to create lucrative opportunities for industry participants over the next few years. Biodegradable agricultural films are getting popular in eco-friendly regions. Technological advancements in horticulture coupled with the development of particle, multi-layer, and UV protection films to increase in agricultural productivity is expected to raise product requirement over the foreseeable future.
LLDPE has the major market share in this segment and is expected to witness the fastest growth. Factors such as high-durability, the extended shelf life of finished products with high tensile strength, and improved thermal properties are expected to rise market growth. Meanwhile, LLDPE and LDPE are expected to witness high requirement in Asia Pacific, especially in China due to their applications being highly beneficial in areas with limited water supply and harsh climatic conditions. HDPE and EVA/EBA films are used in agricultural applications, where rigidity is desired. PVC and EVOH have low market penetration owing to non-competitive prices and low durability of finished products coupled with non-bio degradable nature of the products.
Mulch film emerged as the leading application segment and accounted for the largest share of the market. Factors such as rise in requirement for high-quality crop and rise in disposable incomes is expected to drive the industry. The greenhouse is projected to witness the fastest growth. Growing greenhouse agriculture in Asia, Middle East, and Western Europe is expected to have a positive impact on the market growth. Increasing requirements for floriculture & horticulture and uncertain climatic conditions are expected to rise market penetration. Greenhouse films also help in increasing productivity and plant cultivation.
On the basis of geography, the market is analyzed under various regions namely Mexico, Brazil, and Argentina. A large number of cultivable land along with advancements in agricultural technologies and implementation of effective horticulture techniques to increase crop yield are anticipated to increase the growth of the market in economies such as Mexico, Brazil, and Argentina.
Some of the major companies dominating the market are The Dow Chemical Company, BASF SE, ExxonMobil Corporation (U.S.), RKW SE, Berry Plastic Group, Inc., Grupo Armando Alvarez, British Polythene Industries Plc., and Barbier Group.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1600
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region