H1 2023: In H1 2023, Europe BOPET film market faced fluctuations. In first three months of 2023, Europe witnessed a bearish market sentiment. It was due to low prices for the raw material Polyethylene Terephthalate (PET). The demand for BOPET from the downstream packaging industry was low to moderate in the region. In addition, most BOPET films in Europe were imported from Asia Pacific region at low prices as BOPET prices fell in China. Thus, BOPET film was abundantly available in Europe and there was an ample of supply. In Germany, the BOPET Film prices continuously faced a downhill beginning from January 2023. It was backed up by reasons like high inflation rates in the market. The buying activity of BOPET film by the downstream consuming industries like Packaging industry for food and beverage packaging was hazy in Germany. There was an abundance of BOPET film in the German market and weak buying activity in the country. Furthermore, low freight rates also supported the low pricing of BOPET film in Germany. However, prices increased in April 2023 as feedstock PET costs increased. In May and June, respectively, product prices fell as a result of change in feedstock prices in Europe. The global market's reduction in product prices, which also affected the European region, was a factor in these declines. The downstream food and beverage industry saw decreased demand because of the period's sluggish economic growth. BOPET Film demand was further impacted by the inclined interest rates and inflation.
The Europe BOPET Film market stood at nearly 1400 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.2% during the forecast period until 2032.
BOPET, also known as biaxially oriented polyethylene terephthalate, is a polyester film with excellent tensile strength, chemical resistance, transparency, electrical insulation, gas, and aroma barrier qualities, and is utilised in a variety of applications. Stretched polyethylene terephthalate, the material used to create BOPET, offers exceptional optical, mechanical, thermal, and physical properties. It is more frequently used in the food packaging sector than plastics because of its superior resistance to gas and fragrance barriers. BOPET films are eco-friendly and 100% biodegradable in nature. These films have numerous applications such as book packaging, food & beverage packaging, healthcare sector, electronics, etc. These films are used to make magnetic recording tapes, barrier in CT scanners, lids of food containers, packaging for comic books, etc.
With the increased need for packaging for foods and beverages, the packaging industry is mostly to blame for the rising demand. The rise of BOPET films is being positively impacted by the expansion of e-commerce operations in the region, which call for high-quality packaging materials. The market for BOPET films in the area is also influenced by the rising demand for these films for fabricating goods in the electrical and electronic industry. The BOPET Film market is expected to reach 1900 thousand tonnes in the year 2032.
Based on the end-user industry, the Europe BOPET Film market is segmented into Packaging, Industrial, Electronics & Electricals, Imaging, and Others. Among these, Packaging tends to be the most prominent application of BOPET film, with a market share of roughly 45% in 2022. BOPET packaging films are used for packaging dairy products, fresh produce, meat, and sweets. When printing and laminating, BOPET packaging maintains its integrity well. Because of this, they are excellent candidates for high-end visual packaging applications.
Significant players in the Europe BOPET Film market are Toray Films Europe S.A.S. (TFE), Flexpol Sp. z o.o., Oben Group, FLEX FILMS RUS LLC, Retal Industries Ltd and others. Major players in the production of Global BOPET Film are Jindal Poly Films Limited, Uflex Ltd., SRF Limited, Polyplex Corporation Limited, Ester Industries Limited, Cosmo Films Limited, Dupont Teijin Films, Terphane LLC, Jiangsu Shuangxing, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of BOPET Film which covers production, demand and supply of BOPET Film market in the globe.
• To analyse and forecast the market size of BOPET Film
• To classify and forecast Europe BOPET Film market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of BOPET Film market in the globe.
To extract data for Europe BOPET Film market, primary research surveys were conducted with BOPET Film manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Europe BOPET Film market over the coming years.
ChemAnalyst calculated BOPET Film demand in the globe by analyzing the historical data and demand forecast which was carried out considering the raw materials to produce BOPET Film. 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:
• BOPET Film manufacturers and other stakeholders
• Organizations, forums and alliances related to BOPET Film 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 BOPET Film s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Europe BOPET Film market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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1400 thousand tonnes
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Market size Volume by 2032
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1900 thousand tonnes
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Growth Rate
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CAGR of 3.2% from 2023 to 2032
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Base year for estimation
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2023
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Historic Data
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2015 – 2022
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Forecast period
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2024 – 2032
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Quantitative units
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Demand in thousand tonnes and CAGR from 2023 to 2032
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Report coverage
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Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
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Segments covered
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By End-Use: (Packaging, Industrial, Electronics & Electricals, Imaging, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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Southern Europe, Eastern Europe, Western Europe, and Northern Europe
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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 do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com