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CHEMICALS AND ADVANCED MATERIALS

Biaxially Oriented Polypropylene (BOPP) Films Market Segmentation by Material Type {Silica, Aluminum, Polymer-based (EVOH), and Others}; by Product Type (Plain Films, Heat Sealable Films, Multi-layer Films, Synthetic Paper, and Others); by Application (Wraps, Bags, Labels, and Others); and by End-User Industry {Fast-Moving Consumer Goods (FMCG), Medical & Pharmaceutical, and Industrial} – Global Demand Analysis & Opportunity Outlook 2029

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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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BOPP Films Market Highlights Over 2020-2029

Biaxially oriented polypropylene (BOPP) films market is estimated to grow at a significant CAGR during the forecast period, i.e., 2021-2029, owing to its wide application in food packaging backed by its inherent moisture barrier properties, sealing ability, and durability. These films also increases the shelf life and enhances the on-shelf appeal of the packaged product, which tends to be a limitation with the cling films. The rising trend of flexible plastic packaging combined with the need for contamination resistant food packaging, especially due to the growing concern for the COVID 19 pandemic, is estimated to drive the market growth. Moreover, BOPP films can be recycled multiple times, are biodegradable and non-toxic. Increasing use of BOPP is estimated to reduce plastic waste, which in turn, is anticipated to boost the market growth throughout the forecast period. It is estimated that over 100 million tons of plastic is consumed worldwide each year.

Global-Biaxially-Oriented-Polypropylene-Films-Market

The global BOPP film market is segmented by material type into silica-based, aluminum-based, polymer-based, and others, out of which, the polymer based segment is estimated to hold the largest share during the forecast period owing to its highly inert chemical properties, moisture barrier properties and sealing ability. Ethylene vinyl alcohol (EVOH) is a copolymer, commonly used as an oxygen barrier in food packaging. Owing to its moldable, flexible, printable and protective properties, EVOH is the most prominently used polymer for manufacturing BOPP films.

 On the basis of end-users, the fast-moving consumer goods segment is estimated to garner the largest share by the end of 2029 on account of increasing demand for packaged consumer goods. The modern fast paced lifestyle has resulted in an elevated consumption of ready-to-eat food and pre-packaged drinks over freshly cooked food. This, as a result, is raising the need amongst the food manufacturers to increasingly use BOPP films for the packaging of such food products, which is anticipated to contribute to the growth of the segment. CLICK TO DOWNLOAD SAMPLE REPORT

Global BOPP Films Market Regional Synopsis

On the basis of regional analysis, the global BOPP films market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region.

The market in Asia Pacific is anticipated to hold the largest market share throughout the forecast period on account of growing demand for BOPP films amongst various end-user industries such as food & beverages, medicine and personal care goods among others, for packaging their manufactured products. Moreover, presence of leading market players in countries, such as India and China, owing to the low manufacturing costs of the product and availability of cheap labor in the region is estimated to drive the growth of the market.

North America is anticipated to hold a significant market share by the end of 2029, on the back of growing demand for packaging materials in the pharmaceutical industry. Furthermore, the increasing government initiatives to curb the issues of solid wastes generated from single-use plastics, is estimated to encourage the demand for BOPP films among the end-users in the region. According to the data by the U.S. Environment Protection Agency (EPA), 292.4 million tons of solid municipal waste was generated in 2018. Moreover, plastic wastes accounted for more than 18% of the landfills in the U.S., in 2018.

/Global-BOPP-Films-Market-Share

The global BOPP films market is further classified on the basis of regions as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis.
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis.
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis.
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • 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 & Opportunity Analysis.

Market Segmentation

Our in-depth analysis of the global BOPP films market includes the following segments:

By Material Type

  • Silica-based
  • Aluminum-based
  • Polymer-based {Ethyl Vinyl Alcohol (EVOH)}
  • Others

By Product Type

  • Plain films
  • Heat sealable films
  • Multi-layer films
  • Synthetic paper
  • Others

By Application

  • Wraps
  • Bags
  • Labels
  • Others

By End-User Industry

  • Fast Moving Consumer Goods (FMCG)
  • Medical & Pharmaceutical
  • Industrial
    • Adhesives
    • Laminators
    • Others

Growth Drivers

  • Rising Trend of Flexible Packaging
  • Recyclable and Environmentally Friendly Properties of BOPP

Restraints

  • Fluctuating Quality Standards of the BOPP Films

Top Featured Companies Dominating the Market

  • Vitopel do Brasil
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Innovia Films
  • Taghleef Industries Group
  • Cosmo Films Ltd.
  • B.C. Jindal Group
  • SRF LIMITED
  • POLINAS (Yildiz Holding A.S.)
  • LC Packaging International BV
  • Polyplex Corporation Limited
  • Yem Chio Co., Ltd.

 

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