Greenhouse Film Global Market Report 2024: Market Size Expected To Reach $8.5 Billion By 2028

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Within the agricultural sector, the rising need for innovative solutions that ensure optimal crop production continues to spur investment in greenhouse technology. Key among these advancements is the use of greenhouse film, with market dynamics indicating a forward trajectory. Expansion in the greenhouse film market is expected, as it is set to grow from $5.7 billion in 2023 to $6.21 billion in 2024, representing a compound annual growth rate CAGR of 8.8%. This growth is attributed to factors including crop yield enhancement, extended growing seasons, enhanced resource efficiency, robust crop protection, and energy conservation.

What Will Be the Greenhouse Film Market Size in 2024 And Its Growth Rate?

Marked growth in the greenhouse film market is projected to continue, with the market size expected to expand to $8.52 billion by 2028 at a compound annual growth rate CAGR of 8.3%. This potential growth is largely attributed to sustainable agriculture practices, the introduction of biodegradable films, vertical farming practices, global food security initiatives, and the incorporation of smart agriculture technologies.

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What’s Driving Growth in the Greenhouse Film Market?

One key catalyst driving growth in the greenhouse film market is the rising demand for food production. Food production entails the generation of consumable food items using raw materials sourced from both animals and plants. With the use of plastic greenhouses, farmers can increase and secure crop yield. A case in point is data from Agriculture Victoria, an Australian innovation company that contributes 26.0% of Australia's food and fibre export value. Their records for the 2019-2020 period indicate food and fibre exports valued $14.5 billion, an all-time record. Such increases in agricultural production consequently spur growth in the greenhouse film market.

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Which Players Are Majorly Propelling The Market?

Several established companies operating in the greenhouse film market are contributing to its growth. These include BASF SE, Berry Global Inc., EIFFEL Industry Plastics S.p.A, Essen Multipack Limited, Exxon Mobil Corporation, FVG Folien-Vertriebs GmbH, GCR Group, Ginegar Plastic Products Ltd., Iris Polymers Industries Pvt Ltd., Lumite Inc., Plastika Kritis SA, Polifilm Extrusion GmbH, RPC Group plc, Saudi Basic Industries Corporation SABIC, Sichuan Bozong Greenhouse Co. Ltd, The Dow Chemical Company, Agriplast Tech India Pvt. Ltd., Beijing Kingpeng International Hi-Tech Corporation, Central Worldwide Co. Ltd., Tuflex India, Aserpro S.A., Goutham Plastic India Pvt. Ltd., Paklite Pty Ltd., Grupo Armando Alvarez, Plastchim-T, D.S.E. Co. Ltd., Arid Agritec, Groupe Barbier.

What are the Emerging Trends to Watch?

Product innovations represent a key trend beginning to influence the greenhouse film market. For instance, BASF, a German greenhouse film company, is set to launch IrgaCycleTM, an innovative line of additive solutions designed to meet urgent needs in plastic recycling. This initiative is expected to improve the mechanical properties of recycled plastics, raising the quality of post-consumer and industrial polyolefin material for re-use in various formats and increasing the percentage of recycled content for numerous end-users.

The greenhouse film market report also highlights that the market is segmented in various ways:

1 By Resin Type: Low Density Polyethylene LDPE, Linear Low Density Polyethylene LLDPE, Ethylene Vinyl Acetate EVA.
2 By Functionality: Diffused GHF, Photo-Selective GHF, Anti-Dirt GHF, Other Functionalities.
3 By Width Type: 4.5 Meter, 5.5 Meter, 7 Meter, 9 Meter, Others Width Types.
4 By Thickness: 80<200 Microns, 200 Microns, >200 Microns.
5 By Application: Vegetable, Fruit, Flower, Others Transplants and Ornamental.

Asia-Pacific was the largest region in the greenhouse film market in 2023 and is expected to be the fastest-growing region in the forecast period. The market report covers various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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