BOPP Films Market to be Dominated by Bags & Pouches Segment Through 2028
Rising awareness about hygiene
foods or products and growing demand from packaging industries are factors to
drive the demand for the global BOPP Films market in the forecast period
2024-2028.
According to TechSci Research
report, “BOPP Films Market-
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, The global BOPP Films market
is projected to grow at an impressive rate in the forecast period, 2024-2028. Rising
awareness about hygienic foods and growing packaging industries are the primary
factors that will positively affect the BOPP Films market's share. According to
the WHO report, more than one million tons of traditional plastic are drained
into the seas yearly, affecting the life of the whole ecosystem. Hence, there
is a rising shift towards a recyclable substitute like BOPP, which is expected
to directly impact the BOPP films market growth in the projected period.
The constant variation
in the price of petroleum led to the instability in the cost price of the raw
material of BOPP films. Apart from this, stringent regulations related to the
manufacturing of biaxially oriented polypropylene across developed countries in
Europe and North America is expected to slow down the market's growth in the coming years.
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The global BOPP
Films market is segmented based on type, thickness, production process, and
application. Based on type,
the market is divided into wraps, bags & pouches, tapes, and labels. The
bags & pouches segment will hold the largest market share in 2022. The
flexibility, high density, water, and heat resistance make these BOPP films more
demandable for the storage of liquid or perishable items. Due to the demand for
packaging in a different sector, BOPP films product is more demanded in place
of traditional plastic. Thus, it accounts for significant market share in its
segment.
Based on the
production process, the market is split into tenter and tubular. As per
estimates, the tenter segment will experience the highest market share during
the forecast period. Tenter frame process has much better output than the
alternative process and is used to make both BOPP and BOPET films.
Major
companies operating in global BOPP Films market are:
- Cosmo Films
Limited
- Taghleef
Industries LLC
- SRL Limited
- Toray Industries
Inc.
- NAN YA Plastics
Corporation
- Polyplex
Corporation Ltd.
- Wenzhou Gettel Plastic
Industry Co. Limited
- Amcor Plc
- Ampacet
Corporation
- Chiripal Poly
Films Limited
In October 2022,
Borealis and the Vibac Group designed a new BOPP-based film that is used in
food packaging. These BOPP films provide the same performing characteristics as
virgin Polypropylene while lessening its carbon footprint.
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“Globally, numerous community,
government, and agency initiatives are operating around the globe to abolish
the use of single-use plastic. Additionally, India has started the Prakriti
proposal to prevent single plastic usage and reduce traditional spending. Apart
from this, US has funded 14.5 million to US Plastic Pact to innovate, recycle
and reduce the carbon footprint. Additionally, growing applications, demand
from different sectors, an advantage over substitutes, and strategic decisions by
players are responsible for market growth and creating favorable conditions to
drive the global BOPP Films market growth till 2028.", said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“BOPP Films Market-
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Wraps, Bags & Pouches, Tapes, Labels),
By Thickness (Below 15 microns, 15-30 microns, 30-45 microns, more than 45
microns), By Production Process (Tenter, Tubular), By Application (Food &
Beverage, Electrical & Electronics, Pharmaceuticals, Cosmetics &
Personal Care, Others), By
Region and Competition, has evaluated the future
growth potential of global BOPP films market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in the global BOPP films market.”
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