Agricultural Films and Bonding Market to Develop Profoundly by 2026; Surging Demand for High-quality Crops to Accelerate Growth, states Fortune Business Insights
January 22, 2021 10:05 ET | Source: Fortune Business InsightsPune, India, Jan. 22, 2021 (GLOBE NEWSWIRE) -- The growing demand for high-quality crops is expected to foster healthy growth of the agricultural films and bonding market during the forecast period, “Agricultural Films and Bonding Market Size, Share & Industry Analysis, By Type (Agricultural Films, Twine, Netting, Others), By End Use Industries (Greenhouse, Mulching, Silage, Vegetable & fruit Packing, Shade, Anti-insect, Others) Others and Regional Forecast, 2019-2026.” The increasing need for high crops yields is expected to enable speedy expansion of the market.
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The report on agricultural films and the bonding market contains:
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List of Top Companies in the Global Agricultural Films and Bonding Market:
Key Market Driver:
Acquisition of Berry Global Group by RPC Group to Propel Growth
Berry Global Group, a Fortune 500 global manufacturer and marketer of plastic packaging products announced that it has acquired RPC Group. The acquisition was set for a price of approximately $6.5 billion (£5.15 billion). The joined business will employ over 48,000 people across six continents with sales of roughly $13 billion (approx. £10.3 billion) based on the latest published financial statements of Berry and RPC. Furthermore, Tom Salmon, Chairman and CEO of Berry, said in a statement, “The acquisition of RPC will give us the opportunity to leverage our combined know-how in innovative material science, product development, and manufacturing technologies to create significant value for our shareholders.
”He further added, we remain highly impressed by the tremendous depth of talent and resources embedded within RPC and are looking forward to the opportunity to strengthen our combined platform with the wealth of experience and expertise this team has to offer. The agreement is expected to create lucrative opportunities for the global market in the forthcoming years.
However, high installation cost and adverse effects of plastics on the environment are expected to restrict the growth of the market.
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Booming Agriculture Industry to Augment Growth in North America
The global Agricultural Films and Bonding market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to expand radically during the forecast period. The growth is attributed to the rapidly growing agriculture industry. The surging food demand in emerging economies such as India and China can help expand the market in the region.
North America is expected to experience a significant growth rate due to the growing population. The heavy demand for regulated agriculture is likely to drive the market in the region. Europe is expected to expand exponentially during the forecast period owing to the favorable regulations regarding film disposal and development. The growing demand for biodegradable materials is expected to aid expansion in Europe. The Middle East is expected to experience sluggish growth due to strict environmental regulations owing to the hazardous nature of certain films.
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