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CHEMICALS AND ADVANCED MATERIALS

Biaxially Oriented Polyamide (BOPA) Films Market Analysis by Type (Sequential Stretching, Mechanical Simultaneous Stretching, and LISIM Simultaneous); by Function (Safety, Barrier, Microporous, and Others); and by Application (Food Packaging, Packaging, Pharmaceutical Packaging, Electronics, Household, Chemical & Industrial, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • 7th October, 2021: Mondi plc, launched Retort Pouch Recyclable – a mono-material solution. With this innovative high-barrier film, aluminum is replaced with a fully recyclable retort pouch solution.

  • 2nd October, 2020: Mitsubishi Chemical Corporation, acquired the Gelest, Inc. from New Mountain Capital, LLC. Now Gelest has become the exclusively owned subsidiary of Mitsubishi Chemical America.

Global Biaxially Oriented Polyamide (BOPA) Films Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Biaxially Oriented Polyamide (BOPA) Films Market Trends Table

The global biaxially oriented polyamide (BOPA) films market is estimated to garner a significant revenue by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a notable revenue in the year 2021. The growth of the market is primarily attributed to the wide use of these films as flexible packaging material in the ever growing food & beverage industry. As per the United States Environmental Protection Agency (EPA), in 2018, 14.5 million tons of packaging and plastic containers were manufactured.

Biaxially Oriented Polyamide (BOPA) Films Market Overview

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biaxially oriented polyamide (BOPA) films have gained popularity as an alternative to biaxially oriented nylon films in specialized packaging applications. Biaxially oriented polyamide (BOPA) films have an excellent property to prevent the oxidation of food items or products. Some of the key attributes of BOPA films include excellent mechanical strength, high abrasion resistance, and resistance to flex-cracks, that make them highly appropriate in packaging of products. It is observed that, BOPA film has an outstanding shield to gas, fat, and aroma transmission, as well as remarkable mechanical durability and resistance to impact, puncture, and pin holing.

Global Biaxially Oriented Polyamide (BOPA) Films Market: Growth Drivers and Challenges

Growth Drivers

  • Surge in Packaged Food Consumption - Packaged foods, such as ready to eat meals, processed meats, and baked goods are considerably high in demand as a result of their easy to store and easy to cook factors. Such food items require a specific type of packaging, so that they stay fresh without getting any type of contamination. Therefore, surge in packaged food consumption is fueling up the market growth of BOPA films. For instance, global consumption of ultra-processed foods has skyrocketed. In several parts of the world, these foods now contribute for 26-62% of a person's daily energy needs.

  • Growing Intake of Sea Food -  Seafood includes all bony fishes as well as shrimp, tuna, clams, and oysters. The increasing intake of these sea food items is increasing the demand for their export which leads towards their proper packaging also. For instance, global fish consumption is expected to increase to 21.6 kg per capita in 2030, which is up from 20.4 kg in 2018.

  • Escalation in Pharmaceutical Industry - The escalating growth of pharmaceutical industry is anticipated to boost the demand of biaxially oriented polyamide (BOPA) films as a durable packaging material for packing various kind of drugs. The pharmaceutical industry is expected to be worth approximately USD 2 trillion by the end of 2030.

  • Increasing Expenditure in Research and Development – According to the World Bank, the total expenditure globally on research and development surged from 2.2% of the total GDP in 2018 to 2.63% of the total GDP in 2020.

  • Significant Progression in Chemical Industry - The total global revenue of the chemical industry reached its highest level in the previous 15 years in 2021, totaling about USD 4 trillion.

Challenges

  • Presence of High Concentration Active Chemicals in BOPA Films
  • Stringent Governmental Standards
  • Availability of its Substitutes

The global biaxially oriented polyamide (BOPA) films market is segmented and analyzed for demand and supply by application into food packaging, packaging, pharmaceutical packaging, electronics, household, chemical & industrial, and others, out of which, the packaging segment is anticipated to grow at a significant rate over the forecast period owing to the upsurge in urbanization, and rise of various e-commerce portals which delivers goods at doorsteps. For instance, in 2020, the global packaging industry grown to be worth of around USD 769 billion.

Major Macro-Economic Indicators Impacting the Market Growth

Biaxially Oriented Polyamide (BOPA) Films Market Regional Chart

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Biaxially Oriented Polyamide (BOPA) Films Market Regional Synopsis

Regionally, the global biaxially oriented polyamide (BOPA) films market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031 backed by the expansion of food and beverage industry which is fueling up the high demand of BOPA films. As per the data provided by the U.S. Department of Agriculture, foodservice and food retailing industries supplied approximately USD 1.81 trillion worth of food in 2020, out of this total, USD 922.2 billion value of food was supplied by foodservice facilities only.

Biaxially Oriented Polyamide (BOPA) Films Market Regional Synopsis

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The global biaxially oriented polyamide (BOPA) films market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global biaxially oriented polyamide (BOPA) films market includes the following segments:

By Type

  • Sequential Stretching
  • Mechanical Simultaneous Stretching
  • LISIM Simultaneous

By Function

  • Safety
  • Barrier
  • Microporous
  • Others

By Application

  • Food Packaging
  • Packaging
  • Pharmaceutical Packaging
  • Electronics
  • Household
  • Chemical & Industrial
  • Others

Top Featured Companies Dominating the Global Biaxially Oriented Polyamide (BOPA) Films Market

  • AdvanSix Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Unitika Ltd.
  • Sojitz Corporation
  • Mondi plc
  • Mitsubishi Chemical Corporation
  • Now Plastics
  • Toray Industries, Inc.
  • Drytac Corporation,
  • Transcendia, Inc.
  • Toyobo Co., Ltd.

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