Global BOPP Films Market - Opportunities, Size & Growth Projections
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 the 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 are 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 to store 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 a 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. The 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 the global BOPP Films market are:
In October 2022, Borealis and the Vibac Group designed a new BOPP-based film 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 single-use plastic. Additionally, India has started the Prakriti proposal to prevent single plastic usage and reduce traditional spending. Apart from this, the 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 make 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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