For the Quarter Ending March 2025
North America
In the first quarter of 2025, the North American Biaxially Oriented Polypropylene (BOPP) film market experienced subdued demand, particularly from the packaging sector, which remained cautious due to macroeconomic uncertainties and limited new orders. Despite these challenges, supply conditions remained balanced, supported by stable production rates and sufficient inventory levels. This equilibrium helped mitigate significant price fluctuations, as market participants adopted a wait-and-watch stance, closely monitoring economic developments and potential tariff impacts. Expectations of seasonal demand improvements in the coming months contributed to cautious optimism within the market, even as economic headwinds continued to temper downstream activity.
In the United States, BOPP film prices saw a modest increase of 0.76% from Q4 2024, averaging $2334.0 USD/MT during Q1 2025. The intra-quarter price trend was largely flat, reflecting a stable balance between supply and demand. Key packaging consumers maintained conservative purchasing strategies amid ongoing economic uncertainties, which, combined with adequate inventory levels, supported price stability. While the market outlook remains broadly stable, expectations for a gradual demand recovery are tied to anticipated seasonal packaging needs in the coming months. Producers and traders are likely to maintain a balanced approach, focusing on aligning supply with evolving demand conditions to sustain market equilibrium.
APAC
The APAC BOPP film market in Q1 2025 was characterized by abundant supply and subdued demand, particularly from the packaging sector, which tempered price momentum. Logistical challenges and delivery uncertainties further dampened buying interest, resulting in a generally cautious market sentiment. Despite some fluctuations, the region maintained a relatively balanced supply-demand dynamic, with inventory levels remaining comfortable. Seasonal factors and economic slowdowns contributed to muted consumption, while competitive import pricing, especially from key producers, reinforced price stability throughout the quarter.
In Indonesia, BOPP film prices declined by 3.71% from Q4 2024 to Q1 2025, averaging USD 1307.33/MT in the current quarter. The intra-quarter price trend was largely flat, reflecting stable monthly prices amid moderate demand from the packaging industry and ample domestic inventories. Competitive Chinese imports and cautious procurement by end-users constrained price growth, resulting in a predominantly bearish market stance. Near-term outlook suggests continued subdued demand with slight price fluctuations expected as the market awaits potential recovery signals.
MEA
In the MEA region during Q1 2025, the BOPP film market exhibited subdued demand largely influenced by seasonal and economic factors, including the Ramadan period which dampened industrial activity and consumer purchasing. Supply constraints emerged from limited feedstock availability, particularly polypropylene, tightening production volumes and inventories. Despite these pressures, overall market sentiment remained cautious with balanced supply-demand dynamics, and trading activity was primarily need-based. As the quarter progressed, a modest recovery in demand was anticipated post-Ramadan, although export orders, especially to Europe, showed signs of weakening.
In Saudi Arabia, BOPP film prices declined marginally by 0.52% from Q4 2024 to Q1 2025, averaging $1718.67 USD/MT in the current quarter. The intra-quarter price trend was essentially flat, reflecting a balance between tight feedstock supply and muted demand during Ramadan. Price stability was underpinned by constrained production volumes and low purchasing interest in the packaging sector, resulting in a stable to slightly bearish market outlook. Near-term expectations suggest a gradual demand rebound post-Ramadan, with potential price adjustments aligned to seasonal consumption patterns.
Europe
In the first quarter of 2025, the European Biaxially Oriented Polypropylene (BOPP) film market faced subdued demand, particularly from the downstream packaging sector, as procurement activity remained cautious and environmental concerns influenced purchasing decisions. Domestic supply generally met market requirements, but elevated inventory levels, coupled with operational challenges such as port congestion and labor shortages, constrained overall market activity. Seasonal demand fluctuations and a growing preference for sustainable packaging further dampened consumption, resulting in a weak market sentiment and limited price momentum throughout the quarter.
In Germany, BOPP film prices decreased by 2.13% compared to the previous quarter, averaging USD 2532.0/MT in Q1 2025. Monthly pricing trends were relatively flat, reflecting a fragile balance between supply and demand despite muted activity in key packaging sectors. Producers implemented production adjustments to address the prevailing oversupply, while steady feedstock costs provided some stability. However, weak downstream orders, alongside competitive imports from Asia, sustained a bearish undertone in the market.
Looking ahead, the European BOPP film market is expected to face continued price pressure, influenced by cautious industrial activity, ongoing inventory management, and potential shifts in regulatory frameworks targeting sustainability. Market participants are likely to adopt conservative strategies to navigate these challenges in the near term.
South America
The South American BOPP film market in Q1 2025 displayed subdued dynamics, shaped by moderate demand primarily from the packaging sector amid ongoing economic uncertainties and inflationary pressures. While the food and beverage industry maintained steady consumption levels, other downstream sectors adopted a cautious approach, limiting overall market growth. Supply conditions remained balanced throughout the quarter, supported by ample imports that ensured sufficient product availability. However, restrained procurement strategies and cautious inventory management by market participants characterized the trading environment.
In Brazil, BOPP film prices experienced a marginal increase of 0.32% from Q4 2024 to Q1 2025, averaging USD 2,508.33/MT. Price trends within the quarter were largely flat, reflecting moderate demand from packaging and food industries alongside subdued activity in other sectors. Despite competitive imports and steady domestic supply, economic caution and inflationary constraints kept broader market activity restrained.
Looking ahead, the South American BOPP film market is poised for moderate growth, driven by seasonal demand upticks and cautious restocking efforts. However, ongoing economic challenges and inflationary pressures are expected to continue influencing procurement strategies and downstream activity in the region.
For the Quarter Ending December 2024
North America
In the fourth quarter of 2024, BOPP (Biaxially Oriented Polypropylene) film prices in the USA saw a noticeable decrease, reflecting a combination of market trends and seasonal factors. The slowdown in demand ahead of the New Year contributed significantly to this price reduction. As businesses, particularly in packaging and consumer goods sectors, wound down for the holidays, purchasing activity slowed, leading to reduced pressure on prices.
The New Year sales period also played a role, as companies were more focused on inventory management rather than large-scale purchasing. While the holiday season traditionally sees some increase in consumer demand, the push for BOPP films remained moderate as industries prioritized stock replenishment and cost-efficiency.
On the supply side, the US saw steady imports of BOPP films from international markets, including Asia, where production remained strong. Increased global supply, coupled with stabilizing or lower raw material costs, allowed manufacturers to adjust prices competitively. Domestic manufacturers were also able to maintain production levels without facing significant raw material price hikes, which helped support a favorable pricing environment.
In summary, reduced demand in the lead-up to New Year sales, combined with increased global supply, contributed to the decrease in BOPP film prices in the USA during the fourth quarter of 2024. At the end of Quartet BOPP Film 30 Micron was settled at USD 2276/MT on a DEL Louisiana basis.
APAC
In the fourth quarter of 2024, BOPP (Biaxially Oriented Polypropylene) film prices in Asia experienced a notable decline. This decrease can be attributed to several factors, including reduced demand following the peak season and increased supply across major manufacturing hubs. The approach of the New Year typically sees a slowdown in purchasing activity, as many industries prepare for the holiday season or adjust their production schedules. As a result, the demand for BOPP films softened, leading to price adjustments in the market.
In addition to this seasonal trend, increased production capacity from key Asian producers contributed to higher supply levels. Manufacturers, eager to meet global demand, maintained a steady output, further balancing market dynamics and exerting downward pressure on prices.
New Year sales in various sectors, particularly in packaging and consumer goods, also played a role in influencing BOPP film demand. While the holiday season brings some growth in sales, it is often a period of inventory replenishment and stock optimization rather than substantial growth. This combination of reduced demand and increased supply created a market environment where BOPP film prices were lower as manufacturers adjusted to a more balanced, albeit slower, market.
Europe
In the fourth quarter of 2024, BOPP (Biaxially Oriented Polypropylene) film prices in Europe saw a decline, driven by several key factors. The seasonal slowdown typically observed during the end of the year played a major role, with many industries, including packaging and consumer goods, reducing their activity ahead of the holiday period. This reduction in demand, especially as businesses adjusted inventories for the New Year, led to softer price levels.
The New Year sales period also contributed to the dip in prices. While sales promotions and increased consumer spending are common during this time, the demand for BOPP films remained stable, as companies focused on meeting their stock requirements rather than pursuing significant new orders. As a result, the pressure on prices to rise was limited.
On the supply side, European manufacturers faced competitive global pressures, with supply chains from Asia remaining strong and even increasing in capacity. This higher availability of BOPP films in the market, combined with stable to declining raw material prices, provided manufacturers with flexibility, enabling them to offer more competitive pricing.
Ultimately, the combination of lower seasonal demand, cautious New Year sales expectations, and increased supply contributed to the decrease in BOPP film prices in Europe during the fourth quarter of 2024.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American BOPP film market experienced a gradual month-on-month decline due to several factors. Reduced demand from downstream industries, logistical challenges, and uncertainty in deliveries significantly impacted prices. In July, the cost of BOPP improved compared to August, driven by a notable increase in feedstock PP prices in the American market. However, in the subsequent months, costs began to decline, which supported the BOPP market in terms of production expenses.
In Mexico, the market experienced the most significant price changes, reflecting the overall negative sentiment. Seasonal factors and global economic conditions also contributed to the price decline. The correlation in price changes indicated a strong downward trajectory, with a notable 5% decrease from the previous quarter.
The second half of the quarter saw a further decrease of 2% from the first half, highlighting the continued negative trend. The quarter-ending price of USD 2540/MT of BOPP Film 30 Micron CFR Manzanillo in Mexico encapsulates the prevailing negative pricing environment in the region.
APAC
In the APAC region, the third quarter of 2024 has been characterized by a decline in prices for BOPP Film, influenced by several significant factors. Weak demand from downstream industries, particularly in the packaging sector, has played a pivotal role in driving prices down. Additionally, the market has seen a surplus of feedstock, leading to a decrease in cost for BOPP production. The Mid-Autumn Festival holidays further dampened trading activities, contributing to the overall bearish sentiment in the market. Downstream enterprises have not shown signs of improvement in demand, with mostly just in demand replenishment, insufficient demand, flat trading, low transaction volume, and a wait-and-see attitude. Purchasing intentions are not high, and market demand has weak support for prices. Comparing to the previous quarter in 2024, there was a -2% decline, with the second half of the quarter experiencing a further -3% drop in prices. The quarter-ending price for BOPP Film 30 Micron FOB Shanghai in China stood at USD 1320/MT, reflecting the prevailing negative pricing environment. Overall, the pricing trends in the region have been predominantly negative, marked by a consistent decrease in prices driven by subdued demand and ample supply.
Europe
In Q3 2024, the Europe region experienced an increase in BOPP Film prices, driven by significant factors influencing market dynamics. The rise in feedstock PP costs exerted upward pressure on prices, despite subdued demand from the downstream packaging sector. Global crude oil prices also played a role, with geopolitical tensions and summer fuel consumption optimism contributing to the overall price trend. New export orders continued falling at a marked pace, albeit one that was slightly slower than in June and weaker than the decline in total new business. Germany, in particular, witnessed the most substantial price changes, reflecting the broader market conditions. Comparing to the previous quarter in 2024, prices dropped by 1%, showcasing fluctuations in pricing trends. However, within the quarter, prices increased by 1% between the first and second half, highlighting a changing market sentiment. The quarter-ending price for BOPP Film 30 Micron FD Hamburg in Germany stood at USD 2675/MT, signaling a consistent increase in pricing. The pricing environment in Q3 2024 for BOPP Film in Germany remained positive, reflecting the overall upward trend in market prices.
MEA
Throughout Q3 2024, the market for BOPP Film in the MEA region has maintained a stable pricing environment. Several factors have contributed to this stability, including balanced supply and demand dynamics, moderate production levels, and consistent feedstock costs. The overall market sentiment has been influenced by sluggish demand from downstream sectors, leading to a lack of significant price fluctuations. In the case of Saudi Arabia, which has experienced the most price changes in the region, the pricing trends have mirrored the broader MEA market. Moreover, the percentage change from the previous quarter in 2024 has been recorded at 0%, reflecting a stable pricing trend. Additionally, the comparison between the first and second half of the quarter 3 has shown no significant price variations. As Q3 comes to a close, the latest quarter-ending price stands at USD 1760/MT for BOPP Film 30 Micron (Spot) Ex-Al Jubail in Saudi Arabia, highlighting a continuation of the stable pricing environment observed throughout the quarter.
South America
In Q3 2024, the South American BOPP film market experienced a gradual month-on-month decline due to several factors. Several factors contributed to this decline, including sluggish demand from downstream industries, logistical challenges, and uncertainties in deliveries. The balance between supply and demand played a crucial role in maintaining price stability. Brazil, in particular, witnessed significant price changes, with prices decreasing by 5% compared to the previous quarter. Seasonal factors, such as reduced demand during the winter season, further impacted pricing dynamics. Industries faced challenges from hurricanes, which disrupted the supply chain, while weak orders from the overseas market also contributed to price volatility. There has been no improvement in orders, leading to a focus on meeting only normal start-up requirements. The correlation between price changes in the first and second half of the quarter was negative, emphasizing the overall downward trajectory. The quarter-ending price of USD 2560/MT of BOPP Film 30 Micron CFR Santos in Brazil symbolizes the prevailing negative sentiment in the pricing environment.
For the Quarter Ending June 2024
North America
The price of BOPP Film in the North American region exhibited a stable to increasing trend throughout the second quarter of 2024. In the initial two months, the cost remained steady, and then it rose due to an improvement in feedstock prices. This upward trajectory can be attributed to several pivotal factors, predominantly led by heightened feedstock polypropylene costs and aggravated logistics issues, such as elevated freight charges and transportation disruptions. Additionally, the volatility in crude oil prices has exacerbated the cost pressure on raw materials, further bolstering the price of BOPP films. The observed tight vessel space availability has constrained supply chains, driving up costs and influencing market prices.
Focusing on the USA, where the price changes have been most pronounced, the BOPP film market has experienced a consistent upward trend. The seasonal demand in the second quarter, typically peaking for plastic finished goods, combined with high-cost pressures from feedstock polypropylene, has reinforced this price elevation. Compared to the same quarter last year, prices surged by 8%, reflecting an intensifying market environment. However, the price increment remained at a 0% change from the previous quarter, indicating a steady climb in costs from an already elevated starting point.
The first and second halves of the quarter also saw a 7% price increase, underscoring the persistent upward pressure on BOPP film prices. Conclusively, the quarter ended with the price of BOPP Film 30 Micron DEL Louisiana at USD 2436/MT, encapsulating the bullish sentiment throughout this period. Despite facing logistical and supply chain challenges, the pricing environment for BOPP films in the USA has been decidedly positive, driven by sustained feedstock cost pressures and robust seasonal demand.
APAC
In Q2 2024, the BOPP Film market in the APAC region experienced a consistent upward trend in pricing. This quarter has been marked by several significant factors influencing market prices. The primary catalyst for this surge has been the escalating costs of upstream raw materials like propane and propylene, driven by strong buying trends and volatility in crude oil prices. Higher feedstock prices have exerted considerable cost pressure, compelling manufacturers to elevate BOPP Film prices. Additionally, tight vessel space availability has augmented freight charges, further contributing to the overall price increase. The manufacturing sector's robust performance, as indicated by strong Purchasing Managers' Index (PMI) figures, has also played a pivotal role in sustaining high demand for BOPP Film, particularly in the packaging industry.
Focusing on South Korea, which has witnessed the most significant price changes in the region, the overall sentiment has been positive. The market displayed a clear seasonal trend, with price increases correlating with heightened demand during peak production periods. The price of BOPP Film in South Korea showed a 3% increase from the previous quarter of 2024, despite a -5% change when compared to the same quarter last year. This fluctuation underscores the volatility and recovery from a lower base in 2023. Within Q2, the price difference between the first and second half of the quarter was recorded at 1%, indicating a steady upward trajectory as market conditions became more favorable. Conclusively, the quarter ended with BOPP Film 30 Micron FOB Busan priced at USD 1680/MT, reflecting the overall positive pricing environment. The combination of high feedstock costs, increased freight charges, and robust manufacturing demand has driven this upward trend, establishing a stable yet increasingly favorable market for BOPP Film in South Korea.
Europe
In Q2 2024, the BOPP Film market in Europe has experienced a noticeable downturn, largely driven by weak demand from downstream packaging industries and an oversupply of materials. Significant factors influencing market prices include persistently low production costs due to reduced feedstock Propylene and crude oil prices, coupled with lackluster purchasing activity. The European market's shift towards sustainable packaging solutions and eco-friendly alternatives has further dampened demand for traditional BOPP films, exerting downward pressure on prices.
Germany, in particular, has witnessed the most substantial price changes. The overall trend in Germany has been characterized by a combination of reduced consumer spending, sluggish economic growth, and the influx of delayed import cargoes, leading to an oversupply scenario. Seasonality has played a role, with manufacturers ramping up production in anticipation of increased summer demand, only to face continued weak demand, thus exacerbating the supply surplus. The correlation in price changes has also been influenced by competitive pricing strategies from suppliers aiming to clear summer inventories, which has further pressured prices.
When comparing the year-over-year change, BOPP Film prices have declined by 1%, while the quarter-over-quarter change from Q1 2024 shows a more pronounced decrease of 3%. Within Q2, a notable price drop of 4% between the first and second halves of the quarter underscores the declining sentiment in the market. Concluding the analysis, the quarter-ending price for BOPP Film 30 Micron FD Hamburg in Germany stands at USD 2655/MT.
MEA
In Q2 2024, the BOPP Film market in the MEA region exhibited a largely stable pricing environment. This period has seen a consistent balance between supply and demand, driven by several critical factors. A significant contributor to this stability has been the ample availability of BOPP Film, ensuring that manufacturers and traders maintain steady supply levels. Additionally, the low demand from downstream industries, particularly the packaging and labeling sectors, has played a crucial role in preventing price volatility. The tepid purchasing activity, marked by cautious stocking and a focus on depleting existing inventories, further corroborated this trend.
Focusing exclusively on Saudi Arabia, which experienced the most notable price changes, the overall trend remained stable. Seasonality did not significantly impact the market, and the correlation in price changes reflected this equilibrium. Compared to the same quarter last year, there was a 6% price increase, indicating a moderate but steady rise in value. From the previous quarter in 2024, prices saw a 3% uptick, reinforcing the stability theme. Interestingly, the price comparison between the first and second half of the quarter showed a 0% change, underscoring the market's steadiness.
The quarter-ending price for BOPP Film 30 Micron (Spot) Ex-Al Jubail in Saudi Arabia stood at USD 1770/MT. The stable pricing environment has been positive for market predictability, though it reflects a tepid demand scenario.
