Bale Wrap Market: An Overview
Bales are usually stored in open fields, which makes them prone to damage by rains & snow. Therefore, farmers use bale wraps to protect bailing hay or straws. Bailing is more concerned with protection rather than presentation, which is why farmers look for heavy-duty wraps for bailing applications. The key focus of the farmer remains on achieving superior bailing efficiency, as appropriate bailing extensively elongates the bale’s life without degrading its quality. Bale wrappers are used for bailing at a large scale, several bale wrappers are available which provide uniform bailing in very less time. Depending upon the application, manufacturers provide multi-layer blown extruded plastic films for bale wrapping, which are compatible with various kinds of balers. :
Bale Wrap Market: Dynamics
Use of bale wraps ensures that the bales are able to withstand harsh climate and retain the quality of silage for longer durations. This is expected to boost the demand for bale wraps across all the regions during the forecast period. Plastic bale wraps are expected to have a positive outlook during the forecast period, attributing to the high tensile strength and tear resistance that they promise to offer.
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Among the various product types, twine is the least expensive material for bailing, but its fails to provide complete protection against moisture. While, plastic wraps provide superior barrier against moisture but are expensive than other types of bailing materials. This higher cost can be justified by the high-quality dry baleage obtained. Also, manufacturers are producing plastic bale wraps which provide UV protection, superior puncture resistance as well as good clinging properties, as added benefits to the conventional bale wraps. Moreover, knitted wraps account for majority of the share in the global bale wrap market, these wraps possess superior strength when compared to extruded net wraps.
Several unorganized regional players in the emerging economies are expected to contribute to the global bale wraps market during the forecast period. Although these players might not pose a threat to the Tier 1 players, but can cause a shift in pricing trends of bale wraps. Furthermore, the threat of substitutes for bale wraps is fairly low as bailing needs to be done to protect bales from environmental damages. However, the internal threat of substitutes among twine, net wraps and plastic wraps is high. Farmers opt for different wrapping options depending upon their needs and budget.
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Bale Wrap Market: Regional Outlook
Geographical analysis of the bale wrap market reveals that Europe is the key producer and consumer of bale wraps, and accounts for nearly one-third of the global market followed closely by North America. Furthermore, key agricultural economies such as India, China etc. are expected to be the major end users and thus create remunerative potential for the bale wraps market in the coming years. Russia, Brazil and the U.S. also have high agricultural output, which is likely to translate into growth prospects for the bale wraps market. Leading manufacturers of bale wrap are based out of the U.S., and Europe. Countries in Africa have relatively low penetration of bale wraps but are likely to register significant demand as growth in agricultural output unfolds. However, Brazil and Mexico are expected to witness an above average growth in the bale wrap market during the period of forecast.
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Bale Wrap Market: Key Players
Some of the key players operating in the global bale wrap market are Tama USA Inc., Norflex Inc., Karatzis SA, RKW Group, UPU Industries Ltd., Piippo Oyj, Bridon Cordage, LLC, TENAX Corporation, Syfilco Ltd., Changzhou Xinhui Netting Co., Ltd., among others.
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