H1 2023: In H1 2023, the key players in the North America BOPP Film market were Inteplast ViAm Films, Altopro S.A. de C.V., and Toray Plastics (America) Inc. From the beginning of H1 2023, the prices of BOPP Film rose in the U.S. The reason behind the elevated prices in US market was due to the high price of feedstock polypropylene. Demand for BOPP Film was high with increased demand from the downstream packaging industry during H1 2023. During the March 2023, increased the consumption of the packaging materials to store and transport food & beverages, resulted in higher consumption of BOPP films in US and affected the product price in the market. The supply of products in the H1 2023 was smooth across U.S. However, the prices of BOPP Films began reducing in the U.S. from April 2023 to June 2023. Reduced demand from the downstream food and beverage packaging sector, which was impacted by the depressed economic conditions, led to BOPP Film price decline. Despite the difficult market conditions, there was a sufficient supply of BOPP Film throughout America. Additionally, the price of the feedstock Polypropylene (PP) remained weak, supporting the downward price trend of BOPP Film in US from April-June 2023.
The North America BOPP Film market stood at nearly 1100 thousand tonnes in 2022 and is expected to grow at a steady CAGR of 4.68% during the forecast period until 2032. The rise in demand for BOPP Film for mainly Food Packaging coupled with growing consumer preference towards ready-to-eat snacks across North America is likely to swell the demand for BOPP Film in the region.
BOPP (Biaxially Oriented Polypropylene) film is made using polypropylene. In order to create BOPP films (Biaxially Oriented Polypropylene Films), the film is generally stretched in both machine direction and transverse direction. Due to its fair conformability, economies, and resilience to fatigue, the polypropylene film substrate makes it perfect for applications including packaging, graphics, and labelling. The film is frequently used in the food and beverage packaging industry because it has the properties like optical clarity, moisture resistant, high tensile strength, and. Comparing BOPP films to other plastic films like polyester and LDPE, they have a relatively low carbon footprint. In fact, due to its environmental friendliness, BOPP film is regarded as preferred substrate after cellulose film. The market is expanding as a result of consumers in the area becoming more concerned about the environment and how product packaging affects landfills. BOPP films are used in a variety of industries, including packaging, labelling, and lamination. Given that it is used to package food products, packaging is the most lucrative industry for BOPP films. Due to their qualities, including moisture resistance, seal ability, high clarity, and graphic reduction, BOPP films are employed in food packaging with their role in extending the shelf life of food items.
The main factors driving the increase in demand for BOPP films are the rising need for ready-to-eat foods and medications that need to be contained in flexible films. These films' oil and moisture resistance, as well as their gas barrier components, make them the optimum packaging material for pharmaceuticals. The market for BOPP films in the region is also anticipated to be driven by the rising e-commerce activities, which require high-quality packaging materials. The market for films is also being influenced by the expanding use of films for packaging and laminating in the electrical and electronic industry. Based on production, USA is the leading among all the other parts. The BOPP Film market is expected to reach 1700 thousand tonnes in the year 2032.
Based on the end-user industry, the North America BOPP Film market is segmented into Food Packaging, Tobacco Packaging, Non-Food Packaging, Industrial, and Others. Among these, the Food Packaging is consuming the majority of BOPP Film and held a market share of approximately 62% in the year 2022. Properties like puncture resistance and resistance to work under a wide range of temperatures is what drives the heavy usage of BOPP films in the food industry and is likely to maintain its dominance in the forecast period.
Major players in the North America BOPP Film are Innovia Films Zacapu, Jindal Films Americas LLC, Biofilm S.A., Taghleef Latin America S.A., Toray Plastics (America), Inc., Inteplast ViAm Films, Inteplast ViAm Films, 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 BOPP Film which covers production, demand and supply of BOPP Film market in the globe.
• To analyse and forecast the market size of BOPP Film
• To classify and forecast North America BOPP Film market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of BOPP Film market in the globe.
To extract data for North America BOPP Film market, primary research surveys were conducted with BOPP 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 North America BOPP Film market over the coming years.
ChemAnalyst calculated BOPP Film demand in the globe by analyzing the historical data and demand forecast which was carried out considering the raw materials to produce BOPP 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:
• BOPP Film manufacturers and other stakeholders
• Organizations, forums and alliances related to BOPP 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 BOPP 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, North America BOPP 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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1100 thousand tonnes
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Market size Volume by 2032
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1750 thousand tonnes
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Growth Rate
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CAGR of 4.68% 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: (Food Packaging, Tobacco Packaging, Non-Food Packaging, Industrial, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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USA, Mexico, and Canada
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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