Yahoo Finance Preference Increasing for Silage Covers Made from Biodegradable Materials, States Fact.MR
Silage Covers Made from Recyclable and Biodegradable Materials to Support Market Growth and Attract Consumers Over the Years
United States, Rockville MD, Aug. 11, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global silage covers market is estimated at US$ 1.23 billion in 2022 and is expected to expand at a CAGR of 5.8% during the assessment years of 2022-2032.
Many studies have shown that biodegradable silage covers also yield the same results similar traditional covering materials. They also do not change the quality of the silage for over months. Research even shows that soil soluble cover materials can be used for the production of silage covers.
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As the use of traditional materials causes environmental pollution and the recycling process into the soil is long, more emphasis is being laid on the use of biodegradable materials. These materials are produced from biological sources such as sunflower, plants such as potatoes, corn, rapeseeds, etc. In addition, it is suggested that the silage covers made from biodegradable covers should not be too thin, which may lead to losses.
Thus, the silage covers made from recyclable and biodegradable materials are gaining market attraction on the back of them being environment-friendly.
Which Material is Widely Preferred to Manufacture Silage Covers?
The global market, under material type, is segmented into polyvinyl chloride (PVC), low-density polyethylene (LDPE), high-density polyethylene (HDPE), reinforced polyethylene (RPE), and other material types.
Amongst these, reinforced polyethylene (RPE) silage covers are majorly preferred by consumers and hold a major market share of 36.4%. The segment is poised to register 6.6% CAGR throughout the assessment period.
Reinforced polyethylene (RPE)-based silage covers offer the best UV and chemical resistance, thereby making them appropriate for silage covers and pads. RPE offers the best choice for silage covers as compared to PVC, LDPE, and HDPE, as it aids in reducing the drawbacks that the others come with.
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Key Segments Covered in the Silage Covers Industry Survey
By Material Type:
Polyvinyl Chloride (PVC) Silage Covers
Low-density Polyethylene (LDPE) Silage Covers
High-density Polyethylene (HDPE) Silage Covers
Reinforced Polyethylene (RPE) Silage Covers
Other Material Types
By Layer:
Single-layered Silage Covers
Multi-layered Silage Covers
By End-use Application:
Agricultural Sector
Biomass Industry
Other Applications
By Region:
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
Competitive Landscape
The global silage covers market has come a long way, wherein, market players have evolved from offering single-layered silage covers to multi-layered and reinforced oxygen barrier silage covers in the market.
Companies are making use of high-density materials and advanced technology to manufacture silage covers to ensure better quality feed and less spoilage.
Innovative product offerings are the go-to strategy of market players to maintain their dominant position and enhance their customer base to augment their revenue streams.
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Key players in the Silage Covers Market
Firestone Building Products
RAVEN
Poly-AG Corp
Napco National
Passion AG Holdings Ltd.
Groupe Barbier
Bock Silosysteme GmbH
Ginegar Plastic Products Ltd.
HUESKAR International
Key Takeaways from Silage Covers Market Study
The global silage covers market is projected to expand at a CAGR of 5.8% and be valued at US$ 2.16 billion by 2032.
The market registered 4% CAGR for the period 2017-2021.
Reinforced polyethylene (RPE) dominates the market with 36.4% market share.
Under the layer’s segment, double-layered silage covers hold a high market share of 71.8%.
The European region is the market leader with 28.6% market share in 2021, followed by North America with 24.6% and South Asia & Oceania with 19.7%.
Regional analysis reveals that demand for silage covers is projected to rise at CAGRs of 6.8% and 6.2%, respectively, in South Asia & Oceania and East Asia.
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