Northbrook, IL 60062 -- (SBWIRE) -- 11/09/2023 -- The mulch films market, as detailed in a research report titled "Mulch Films Market by Type (Clear/Transparent, Black Mulch, Colored Mulch, Photo-selective Mulch, Degradable Mulch), Application (Agricultural and Horticulture), Element (LLDPE, LDPE, HDPE, EVA, PLA, PHA) and Region - Global Forecast to 2028" by MarketsandMarkets, is projected to exhibit substantial growth in the coming years. It is estimated to be worth USD 7.8 billion in 2023 and is anticipated to reach USD 10.6 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 6.5% from 2023 to 2028. The burgeoning demand for mulch films can be attributed to the increasing need for enhanced agricultural productivity, sustainable farming practices, and climate change adaptation.

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A Rising Market with Strong Drivers

The expansion of the agricultural and horticultural sectors on a global scale is a key driver for the mulch films market. With growing demand for food, ornamental plants, and other agricultural products, the use of mulch films has become indispensable. Among the various materials used for manufacturing mulch films, EVA (Ethylene Vinyl Acetate) stands out due to its exceptional properties. EVA mulch films provide benefits such as moisture retention, weed suppression, temperature regulation, and soil protection, ultimately resulting in increased crop yields and improved crop quality. This increasing demand for efficient and sustainable farming practices has led to the growth of the EVA segment.

Horticulture Emerges as a Key Application

In 2022, the horticulture segment took the lead in driving the growth of the mulch films market. The emphasis on sustainable and eco-friendly farming practices has been a significant catalyst for this growth. Mulch films, by conserving water and reducing the need for chemical herbicides and pesticides, align with the broader goals of environmentally conscious agriculture. Consumers are increasingly seeking organically grown and chemical-free produce, and mulch films enable growers to meet these demands, thereby fostering the expansion of the horticultural application.

Mulch films offer several advantages, including reduced water consumption, lower labor costs, and extended growing seasons by maintaining optimal soil temperatures. Their adaptability to various climatic conditions makes them a reliable choice, particularly in regions with unpredictable weather, where they provide protection from extreme temperatures, heavy rain, and frost, ensuring a more consistent harvest.

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India's Rapid Growth in the Asia Pacific Region

India is expected to emerge as the fastest-growing market in the Asia Pacific region during the forecast period. The country's increasing population, with a significant portion moving into the middle-class bracket, presents a massive consumer base with increased purchasing power. This demographic shift has led to a surge in demand for a wide range of goods and services, spurring economic growth across various sectors.

Moreover, India's urbanization trend is reshaping the consumption landscape. As more people migrate to cities and towns in search of better opportunities, there is a growing demand for urban infrastructure, housing, transportation, and consumer products. This urbanization trend is fueling economic development and market expansion, creating new business opportunities across industries.

Key Players in the Mulch Films Market

Leading players in the mulch films market include BASF SE (Germany), Berry Global Inc (US), Dow (US), Kuraray (Japan), Exxon Mobil Corporation (US), and RKW Group (Germany). These companies play a pivotal role in driving the growth and innovation within the industry, catering to the increasing demand for mulch films worldwide.

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