[Online Quarterly Update]The BOPP Films market witnessed a demand of 4.55 million tons in 2020 and is anticipated to grow at a healthy CAGR of 5.2% through the forecast period 2030. BOPP (Biaxially Oriented Polypropylene) film is the clear, glossy, transparent, flexible material that is produced via Polypropylene. It has been stretched both manually and mechanically using cross direction technique that produces molecular chain orientation in two directions. Tenter and Tubular are the two processes mostly used for the production of BOPP films. BOPP films are moisture resistant, fatigue resistant, light weight, non-toxic, biodegradable and easily recyclable in nature making them one of the most desirable eco-friendly films in the market. Commercially, BOPP films are accessible in a wide range of thickness, widths and properties depending upon the requirements of end use industries. These films have been classified as 15 microns, 15-30 microns, 30-45 microns and more than 45 microns, on the basis of their thickness. Based on the type, BOPP Films are segmented into Wraps, Bags & Pouches, Labels, and Tapes.
BOPP films find wide range of applications in packaging, labeling and lamination. Among these packaging is the most lucrative segment in the BOPP films market as it is utilized for packaging food products. In Food Packaging, BOPP films are preferred owing to their properties such as moisture resistance, seal ability, high clarity and graphic reduction coupled with its role in extending shelf life of food products. The growing demand from Food and Beverages sector is likely to boost the market for BOPP films in the forecast period. BOPP films are also used in labeling as these can accept many formulations of ink, cost effective as well as tear resistant. Additionally, superb adhesive quality and moisture resistance of these films make them a material of choice for labeling the surfaces that could easily get messy or wet. Expanding flexible packaging industry is projected to drive the demand for BOPP films in the forecast period.
In the first half of 2020, the sudden outbreak of the COVID-19 pandemic, led to the imposition of nationwide lockdowns by the major global economies to control the spread of virus. It resulted into slowdown in Industrial operations and disruption in demand and supply chain, that subsequently impacted the growth of many industries worldwide. Despite the pandemic crisis, there was a surge in the demand for BOPP Films, as these are prominently used in the packaging sector. Due to the upsurge in the demand for packaged food and rise in e-commerce amid the covid crisis, the Packaging sector took an exponential rise, which helps the BOPP Films market to sustain and grow amid pandemics. Moreover, since the latter half of 2020, after the relaxation in the lockdown restrictions and resumption of the industrial activities, a further improvement in the demand for BOPP Films is witnessed and is projected to grow at a significant rate over the forecast years.
Region wise, Asia Pacific accounted for the major share of the BOPP Films market owing to rapid industrialization, growing population and a huge consumer base in the region. Moreover, developing economies like China, India and Japan are among the leading consumers of BOPP Films and are expected to boost its market in the upcoming years. Additionally, China is the largest producer of Electronics and among the leading producer of packaging material which is also likely to drive the market for BOPP Films over the forecast period.
Europe and North America are also expected to show a significant growth in the BOPP films market in the upcoming years due to the rising demand for flexible packaging and BOPP Films being the versatile, sustainable, lightweight, eco-friendly and efficient packaging materials, are highly preferred for packaging and lamination applications in the regions that consequently would drive the market for BOPP Films in the upcoming years.
The leading players of BOPP Films market are Cosmo Films Ltd., Polyplex Co. Ltd., Jindal Poly Films Ltd., Innovia Films Limited (CCL Industries), Printpack Holdings, Inc., Inteplast Group Inc., Toray Industries Inc., Taghleef Industries LLC. UFlex Ltd., Clondalkin Group Holdings B.V. Company, Amcor Plc., Polibak and Chiripal Poly Films Ltd. among others.
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
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Objective of the Study:
• The primary objective of the study was to evaluate and forecast the BOPP Films capacity, production, demand, inventory, and demand–supply gap globally.
• To categorize BOPP Films demand based on End Use, Type, Region, and Distribution channel
• To identify major customers of BOPP Films globally.
• To evaluate and forecast BOPP Films pricing globally.
• To identify and profile major companies operating globally BOPP Films market.
• To identify major news, deals and expansion plans globally BOPP Films market.
To extract data for Global BOPP Films market, primary research surveys were conducted with BOPP Films manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, Chemanol’s was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, chemicals analyzed various end user segments and projected a positive outlook for Global BOPP Films market over the coming years.
ChemAnalyst calculated BOPP Films demand globally by analyzing the historical data and demand forecast which was carried out considering the Application industries growth. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience
• BOPP Films manufacturers and other stakeholders
• Organizations, forums and alliances related to BOPP Films distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as BOPP Films manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
Report Scope:
In this report, the Global BOPP Films market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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Attribute
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Details
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Market size volume in 2020
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4.55 million tons
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Growth Rate
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CAGR of 5.2% from 2021 to 2030
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Base year for estimation
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2020
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Historic Data
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2015 – 2019
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Forecast period
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2021 – 2030
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Quantitative units
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Revenue in USD million/billion and CAGR from 2021 to 2030
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Report coverage
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Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
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Segments covered
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1. End Use: (Food & Beverages, Pharmaceuticals, Personal Care, Electricals & Electronics, and Others)
2. Type: (Bags & Pouches, Wraps, Labels, Tapes, and Laminations)
3. Distribution Channel (Direct/Institutional Sales, Other Channel Sales)
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Regional scope
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North America; Europe; Asia Pacific; South America; Middle East & Africa
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Country scope
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United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
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Key companies profiled
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Cosmo Films Ltd., Polyplex Co. Ltd., Jindal Poly Films Ltd., Innovia Films Limited (CCL Industries),Printpack Holdings, Inc., Inteplast Group Inc., Toray Industries Inc., Taghleef Industries LLC. UFlex Ltd., Clondalkin Group Holdings B.V. Company, Amcor Plc., Polibak and Chiripal Poly Films Ltd. |
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Customization scope
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Free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you can’t find what, you are looking for then please get in touch with our custom research team at sales@chemanalyst.com
