The global biodegradable mulch films market value is expected to reach USD 64.3 million by 2024, according to a new report by Grand View Research, Inc. Growing population coupled with depleting arable land is anticipated to drive the market growth over the next eight years. Biodegradable mulch films are used to enhance crop quality by suppressing weed growth and maintaining soil temperature.
Biodegradable mulch films have a lower environmental impact as they do not produce any harmful waste, and their disposal is easy. Government regulations promoting bio-based product usage, especially in Europe and North America is expected to drive market growth over the foreseeable future. Key players in the industry have been investing in R&D to develop fully bio-based mulch films.
Fruits & vegetables emerged as the leading crop using biodegradable mulch films and accounted for 51.1% of total market revenue in 2015 and is also anticipated to witness the fastest growth over the next eight years. The high growth may be attributed to biofilm ability to prevent fruits from rotting by preventing contact between fruit and soil.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/biodegradable-mulch-films-market
Further key findings from the report suggest:
- Thermoplastic starch (TPS) was the leading raw material in 2015 and is expected to reach a market worth USD 47.3 million by 2024, growing at a CAGR of 7.7% from 2016 to 2024. The high demand may be attributed to the easy availability of starch at low prices coupled with an inability to produce any harmful products when placed in soil.
- Starch blended with polylactic acid (PLA) is also expected to witness a brisk growth over the forecast period. The high growth may be attributed to their advantage of being produced from 99% biobased material coupled with growing PLA films demand particularly in Europe.
- Asia Pacific was the major consumer and accounted for 64.1% of global revenue in 2015 and is expected to witness the fastest growth in the biodegradable mulch film market over the next eight years owing to growing industrialization resulting in rising food demand.
- Major companies operating in the global biodegradable mulch film industry include Kingfa Sci & Tech Co Ltd, Al-Pack Enterprises Ltd, BioBag International AS, RKW SE, AEP Industries Inc, BASF, Novamont, British Polythene Industries PLC, Armando Alvarez and Ab Rani PlastOy. Major companies have been adopting various strategies such as M&A, joint ventures, new product development and capacity expansions to increase their market share.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/renewable-chemicals
Grand View Research has segmented the biodegradable mulch films market on the basis of raw material, crop type and region:
Global Biodegradable Mulch Films Raw Material Outlook (Revenue, USD Thousand, 2014 – 2024)
- Thermoplastic starch (TPS)
- Starch blended with polylactic acid (PLA)
- Starch blended with polyhydroxyalkanoate (PHA)
- Aliphatic-aromatic copolyesters (AAC)
Global Biodegradable Mulch Films Crop Type Outlook (Revenue, USD Thousand, 2014 – 2024)
- Fruits & vegetables
- Grains & oilseeds
- Flowers & plants
Global Biodegradable Mulch Films Regional Outlook (Revenue, USD Thousand, 2014 – 2024)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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