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Bopp Films Market Is Estimated To Grow At A Cagr Of 5.2% By 2030
According to ChemAnalyst report, “BOPP Films Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. BOPP Films market witnessed a demand of around 4.55 million tons globally in 2020 and is anticipated to grow at a significant rate with a healthy CAGR of 5.2% until 2030 owing to its surging demand from the Packaging industry.
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Biaxially Oriented Polypropylene (BOPP) films are glossy, clear, transparent, flexible, lightweight, and durable, manufactured by extending the Polypropylene film in both machine direction as well as transverse direction. The two main methods used for the production of BOPP films are Tenter and Tubular. Depending upon the requirements of end use industries, BOPP films are available in a wide range of thickness, widths, and properties. On the basis of their thicknesses, BOPP Films have been categorized as 15 microns, 15-30 microns, 30-45 microns and more than 45 microns.
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There are various kinds of BOPP films varying in their properties such as Transparent films, Opaque films, non-food films, label films, and metallized films. Based on the type, BOPP Films are segmented into Wraps, Bags & Pouches, Labels, and Tapes. BOPP based Labels are in high demand as these are cost effective, tear resistant and can accept many formulations of ink. Additionally, properties like moisture resistance and superior adhesive quality are making them suitable for labeling surfaces that can be easily get wet. Hence due to all these superior properties of BOPP Films its market is expected to grow at a promising rate in the forecast years.
BOPP films are prominently used in several applications like packaging, labelling, and lamination. Owing to its inherent moisture and oxygen barrier properties, seal ability, fatigue resistance, biodegradability, recyclability, and non-toxicity, it is among the most desirable food packaging material. Additionally, BOPP films also provide shelf-life extension, quality and sustainability to food products which is likely to drive the demand for BOPP Films in the forecast period.
The major end use industries of BOPP films are Food and Beverages, Pharmaceuticals, Personal Care, Electricals and Electronics and Others. In Pharmaceuticals BOPP Films are extensively used as co-extruded heat sealable and reverse printable films for packaging medicines ensuring the safe and secure transportation of medicines in bulk. Expanding packaging industry is projected to drive the demand for BOPP films in the forecast period
The sudden outbreak of the COVID-19 virus in the first half of 2020, across the globe led to the imposition of nationwide lockdowns by the major economies. It resulted in disruption in the functioning of several manufacturing plants as well as the interruption in the supply and demand chain which consequently impacted most of the industries. However, there was a rise in the demand for BOPP Films as there was an exponential growth in the Packaging industry amid the pandemics due to the rise in e-commerce and the demand for packaged food. Additionally, growth in Pharmaceuticals during the pandemics also gives a push to the BOPP Films market. Hence, growth in Food and Beverages and Pharmaceuticals sectors is anticipated to fuel the demand for BOPP Films over the forecast period.
Region wise, Asia Pacific holds the maximum demand share of the BOPP Films market and is expected that its BOPP Films market would grow at a promising pace through 2030 owing to rapid industrialization, urbanization, and a huge consumer base in the region. Additionally, emerging economies like China, India and Japan are the leading consumers of BOPP Films which is likely to fuel the market for BOPP Films in the region.
The BOPP Films market in Europe and North America is also expected to grow at a significant rate in the upcoming years due to the rising demand for versatile, lightweight, eco-friendly, sustainable, and efficient packaging materials. In these regions, BOPP Films are highly desired for packaging and lamination applications that consequently is expected to drive the market for BOPP Films in the upcoming years.
According to ChemAnalyst report, “BOPP Films Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”, Major players for BOPP Films globally 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.
“BOPP Films are identified as a highly desired packaging materials globally owing to their superior mechanical and physical properties. Additionally, BOPP Films are cost effective as well as available in desirable widths and thickness as per the requirement. All these factors are likely to positively influence its market growth in the upcoming years. The blooming Packaging industry due to rise in e-commerce and changing customer’s preferences are anticipated to fuel the demand of BOPP Films in the forecast period. Additionally, Food and Beverages is the most lucrative end use industry of BOPP Films and growth in this sector would likely to propel the market growth of BOPP Films in the forthcoming years. Due to the high demand of these films, there is a need to keep the track of its market growth to grab the upcoming opportunities for the capacity expansions in order to fill demand and supply gap in the future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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