The rise in the packaging of food and beverage, coupled with increasing application in pharmaceutical packaging solutions, is driving the BOPP films market.
The global BOPP Films Market is forecast to reach USD 33.07 Billion by 2027, according to a new report by Reports and Data. The growth of BOPP films can be mainly associated with the increasing demand from the food and beverage and personal care industry in developed and emerging countries, which is anticipated to drive the market. These films provide benefits comprising strength and robustness, an excellent blend of stiffness, and heat resistance.
The growth of the packaging industry drives the market for BOPP films. Increasing the use of food packaging such as pouches, lidding films, wraps, and laminates is expected to propel the demand from the market. The rise in the packaging of poultry, meat, and seafood is driving the market, especially in MEA countries. Manufacturers are innovating chlorine-free alternatives for packaging to reduce the impact on the environment. The research activities to develop sustainable alternatives for the market product will increase awareness and stringent government policies regarding the disposal of discarded films.
Companies considered and profiled in this market study:
CCL Industries Inc.
Cosmo Films Limited
Jindal Poly Films
Sibur Holdings
Poligal S.A
Uflex Limited
Toray Industries
Inteplast Group
Taghleef Industries
and Vitopel
among others.
The COVID-19 impact:
The COVID-19 pandemic is having a significant impact on the biaxially oriented polypropylene industry. Demand for the product is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
Further key findings from the report suggest
By Type, the BOPP films are used for packaging of a lot of products like bags & pouches, tapes, wraps, and labels. Bags & pouches and wraps have the largest application. Bags & pouches are forecasted to occupy a market share of 21.4% by the year 2027.
Personal care and cosmetics, along with electrical and electronics, have the highest growth rate of 5.6% in the forecasted period. Application of BOPP films to protect these respective products from moisture and utilization of films for packaging is also creating a surge in the market.
The Tenter production process is anticipated to grow with the fastest CAGR during the forecast period. This process has a higher output than the tubular process.
Asia Pacific is forecasted to grow with the highest CAGR of 5.2% during the forecast period. Countries such as India, China, and Japan are the fastest-growing economies contributing heavily towards the growth of the BOPP films market. The presence of companies such as Jindal Poly Films Limited, Cosmo Films Limited, and Toray Industries is expected to increase the applications of the films in food & beverage and other industries.
Key Questions Answered in this Research Study:
What is the global production, production value and consumption value?
Who are the global key manufacturers of the market? How are their operating situation?
What are the types and applications of market?
What is the market share value of each type and application?
What are the upstream raw materials and manufacturing equipment?
What is the manufacturing process?
Economic impact on the market and development trends of market.
What will be the market size and the growth rate be in 2027?
What are the key factors driving the market?
What are the key market trends impacting the growth of the market?
What are the challenges to market growth?
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