Sales of PE woven films are set to be valued at around US$ 64 Mn in 2021 for the Asia Pacific region, according to a latest study by Persistence Market Research, a research and consulting firm. The study estimates the market to expand at nearly 7% CAGR during 2021-2031. Demand for PE woven films is rising, especially in applications such as greenhouse covers, mulching, low tunnels, artificial turf, and soil remediation & reinforcement control. Countries such as China and India are focusing on maximizing their agricultural output. PE films are used to provide a desirable climate, enhance soil nutrients, and maintain the value of nutrients. Usage of mulching, greenhouses, and silage bags increases the agriculture production rate by 20%-35%.
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Key Takeaways from Market Study
- Demand for UV stabilized PE woven films has seen significant growth over the years, and this is expected to increase further over the forecast period.
- There is increasing demand for PE woven films with thickness more than 10 mil from the agricultural sector.
- Reinforced PE woven films are experiencing higher demand in recent years due to their low cost as well as high strength.
- Demand for films is rising for use in greenhouse covers, growing awareness toward sustainable farming, need for high agricultural output, and development of roadways and infrastructure due to rapid urbanization in Asia Pacific.
- Currently China is the most demanding market for PE woven films due to increased domestic demand for agricultural films such as mulches, greenhouse covers, and roofing membrane.
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Competitive Landscape
The Asia Pacific PE woven films market is highly competitive in nature with the presence of many small and larger firms in region. The market is highly fragmented, and some of the key players included in the report are Ginegar Plastic Products Ltd., Gale pacific Commercial, INABATA & Co., Ltd, Puyoung Industrial Co. Ltd, Polyplex Corp. Ltd., and others. These players are likely to invest in the research & development of new products to enhance their market scope and share.
Conclusion
The market for PE woven films in the Asia Pacific region is expected to grow significantly owing to increment in the number of greenhouses, mulches, and roadways & buildings across the region. Volatile availability and pricing of raw material will have a remarkable impact on the pricing and sales of these films. Increasing preference for biodegradable films will also shape market growth in the near future. Demand is rising owing to modernization of agriculture practices, increasing construction activities, and growing need for soil remediation and erosion control in the region.
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