The Biaxially Oriented Polypropylene (BOPP) Films Market is expected to expand at a CAGR of 6.5% during the forecast period of 2023 to 2030. BOPP (Biaxially Oriented Polypropylene) sheets are a thermoplastic polymer widely used in packaging. This polypropylene film is extensible in both the machine direction and across machine directions. This stretching provides BOPP films with superior printability, low gauge, clarity, flatness, and retention of twist. Additionally, the film provides UV resistance with a flat surface area and superior chemical resistance. BOPP has gained popularity and great demand in recent years since it provides an excellent barrier for water vapor, oil, and grease, is recyclable, and emits no harmful substances. Additionally, the BOPP films' associated benefits have opened the potential for the product in both developing and non-developing businesses. Increasing disposable incomes and rising consumption are boosting the revenue of the overall BOPP film sector. Increasing product use by industries such as food, pharmaceuticals, and cosmetics, among others, has created product demand with enormous market prospects for the coming years. However, rigorous government regulation regarding the production of BOPP films has posed a significant obstacle to the market's growth during the aforementioned time period.
Increased Demand from The Food Industry
Flexible packaging, or packaging in general, is regarded as one of the most lucrative industries due to its wide applicability in the food and beverage, personal care, and pharmaceutical industries. Increasing demand for bi-pivotally positioned polypropylene (BOPP) in packaging, marking, printing, and overlay is mostly attributable to the thriving growth of the aforementioned industries. BOPP finds application primarily in the food industry, and this segment is the primary contributor to the volumetric expansion of the BOPP market. BOPP is used for packaging and labeling in the food industry, and the rising popularity of snacks, cakes, bread, ready-to-eat packaged food sources, frozen food sources, and candy shops has affected the need for BOPP in this industry.
The food sector is also anticipated to be the fastest-growing application segment by the end of the forecast period. In light of the growing need for tapes in mechanical packaging, the tapes segment also offers lucrative opportunities for leading players in the BOPP market. Bi-axially structured polypropylene is typically utilized in numerous industries, including food, tapes, tobacco, consumer goods, and clinical. BOPP is widely utilized in the food and tape industries due to its great importance in the assembly of various products. Particularly in the food industry, it helps preserve the freshness of products and extends their shelf life. Moreover, the minimum effort and recyclability of bi-axially structured polypropylene have provided the business a boost. Additionally, growing interest in flexible packaging is anticipated to contribute to the growth of this market. The bi-axially organized polypropylene market is being fuelled by a number of factors, including a growing urban population and an increase in disposable income.
Increased Adoption Across Industry to Open Significant Opportunities
Globally rising demand for consumer electronics and electrical goods creates a profitable growth opportunity for the biaxially oriented polypropylene films market. Due to their superior mechanical and thermal qualities, these biaxially oriented polypropylene sheets are ideally suited for wrapping wires and cables. They are regarded as good wire and cable insulators. The global expansion and growth of the pharmaceutical and cosmetic industries create a suitable environment for the advancement of the biaxially oriented polypropylene films business. Biaxially oriented polypropylene films can be used to prevent the oxidation of pharmaceuticals and cosmetics, which is regarded as the industry's greatest difficulty. These elements are viewed as the most significant growth potential for the Biaxially oriented polypropylene films market as a whole.
Cost & Regulations to Limit the Market Growth
The rigorous regulations established on the production of biaxially oriented polypropylene films in developed nations are anticipated to impede the expansion of the biaxially oriented polypropylene films market as a whole. The fluctuating cost and the dearth of polypropylene for the production of biaxially oriented polypropylene films are also anticipated to impede the industry's expansion.
Market by Type: The Bags & Pouches Dominated the Market in 2021
The bags & pouches subsegment generated the largest market share in 2021. The BOPP bags and pouches are resistant to water and may be printed with high-resolution images. The segment's rapid expansion is owing to the fact that it is recyclable and does no environmental impact at a cheap price. BOPP bags & pouches have numerous uses for the packaging of animal feed, pet food, seeds, and other consumer goods, allowing for the potential to reach a broader audience.
Market by Application: Tobacco Packaging Segment Witnessing Market Traction
BOPP films have a variety of uses, including medical, food & beverage, personal care & cosmetics, tobacco packaging, electrical, and electronics. Recent years have seen the largest demand for tobacco packaging due to the rising number of new product launches and the rising disposable income of consumers. BOPP films are in high demand as a result of the availability of items of higher quality and the increased demand for tobacco among both the young and the old.
North America Dominates Revenue Share, While APAC Leads the Growth
On account of the pharmaceutical industry's increasing demand for packaging materials, North America held the largest revenue share in 2021. In addition, the increasing government attempts to address the challenges of solid wastes generated from single-use plastics are anticipated to boost the demand for BOPP films among the region's end-users. In 2018, the U.S. Environment Protection Agency (EPA) reported the generation of 292,4 million tonnes of solid municipal garbage. In addition, plastic waste comprised more than 18% of landfills in the United States in 2018.
The Asia-Pacific region is anticipated to have a higher market growth rate for Biaxially oriented Polypropylene films because to the increasing growth of end-user industries such as food and beverage, medical, and personal care. Additionally, the packaging and manufacturing industries are growing in the Asia-Pacific area, which is regarded as the key growth stimulant for biaxially oriented polypropylene films. In addition, the Asia-Pacific area is experiencing increased demand in the retail and e-commerce sectors, where Biaxially Oriented Polypropylene films are deployed extensively. Favorable economic conditions and rising disposable income in the Asia-Pacific area promote packaged goods and the extensive use of biaxially oriented polypropylene films to wrap food products for moisture preservation and scent retention. Consequently, the demand in the food and beverage industry and the rising trend of e-commerce in Asia-Pacific are driving the expansion of Biaxially Oriented polypropylene films.
Market to Remain Fragmented During the Forecast Period
The BOPP market is extremely fragmented, characterized by the presence of numerous significant companies. Some of the major players in the global BOPP market are KopafilmElektrofolien GmbH, SRF Limited, Chemosvit A.S., Tempo Group, Taghleef Industries, Vibac Group S.p.A., Treofan Group, Rowad Global Packaging Co. Ltd., Zubairi Plastic Bags Industry LLC, Poligal S.A., Futamura Chemical Co., Ltd., Manucor S.p.A., Oben Holding Group, In And Others.
Please note that this list of companies highlighted in the study is not exhaustive.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Biaxially Oriented Polypropylene (BOPP) Films market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
