New York, Aug. 13, 2020 (GLOBE NEWSWIRE) -- 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.
Changing lifestyle has increased the demand for ready-to-eat packaged meals with an extended shelf life. Manufacturers are focusing on producing single-unit packages that can support repeated heating and freezing. Durability, heat stability, transparency, and single and double-layer coating will be an important product feature in the food and pharmaceutical packaging industry.
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COVID-19 Impact Analysis:
The COVID-19 pandemic is having a significant impact on the biaxially oriented polypropylene industry. Demand for the product is suffering severely across various end-use markets, worldwide supply chains are disrupted, 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 forecast 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 forecast period. Application of BOPP films to protect these respective products for 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 the food & beverage and other industries.
- Key participants include 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.
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For the purpose of this report, Reports and Data has segmented the Global BOPP Films Market on the basis of type, production process, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Bags and Pouches
Production Process Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Personal Care
- Electrical & Electronics
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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