The MOPP packaging films market is anticipated to experience strong demand through 2021, with a total market value of US$ 221.7 Mn in that year. Additionally, according to FMI, demand for MOPP packaging films will grow at a consistent 5.2% CAGR between 2021 and 2031.
Despite limitations put in place because to COVID-19, demand for MOPP packaging films will increase starting in 2021, albeit modestly. By the end of 2021, the total volume sold globally is anticipated to reach 135.2 Th.
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The MOPP packaging films market in the United States is predicted to expand by 7.7% annually in 2021, defying initial concerns about how the sector would fare in the event of a global pandemic. Sales of MOPP packaging films are expected to total US$ 51.7 million over the entirety of North America in 2021.
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Increasing applications of MOPP packaging films in manufacturing of tapes, wraps and labels is driven by their superior benefits such as high tensile strength and tear resistance.
Not only MOPP packaging films have beneficial mechanical properties, but they are visually appealing and contribute to a product’s aesthetic appeal, becoming an ideal choice of primary and secondary packaging solutions.
Growing preference regarding eco-friendly packaging alternatives is encouraging advancements in MOPP packaging films market. These films are made from a single material and have high recycled value.
As a result, increasing adoption of sustainable solutions in the packaging industry to comply with environment protection initiatives will continue driving sales of MOPP packaging films during the forecast period.
Key Takeaways:
- By thickness, above 60-micron MOPP packaging films segment is projected to grow at a 5.6% CAGR through 2031.
- Based on application, the labels segment is expected to hold 38.6% of the total MOPP packaging films market share in 2031.
- Sales of MOPP packaging films in the food industry are projected to expand at a CAGR of 5.6% during the forecast period.
- The U.S. is anticipated to emerge as a lucrative market, accounting for 86.2% of sales in North America by 2031.
- Germany is projected to hold 15.8% of the Europe MOPP packaging films market by the end of 2031.
- India will continue exhibiting high demand for MOPP packaging films over the forecast period, holding 48.7% of the South Asian market share.
- North America and Europe currently hold over 53.6% of the total MOPP packaging films market owing to presence of well-established packaging films industry.
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Growing Preference for Post-Consumer Recycled and Easily Recyclable Plastic Packaging Products to Drive MOPP Packaging Films Sales
Traditionally, it was not possible to manufacture high-quality packaging films from completely recycled products, but with advancements in technology standard, quality packaging films can be made completely using recycled raw material. This is gaining popularity among a lot of manufacturers, as it helps in significantly reducing the carbon footprint of manufacturers, besides helping them to woo consumers showing inclination for sustainable packaging solutions.
Post-consumer recycled plastic is gaining a lot of traction as it is not only environmentally friendly but also comparatively affordable. The use of recycled plastic decreases the demand for the manufacturing of new plastic resins, which reduces the consumption of energy and fossil fuels compared to the requirement for the manufacturing of virgin plastic.
Key Companies Profiled
- Futamura Chemical Co., Ltd.
- Toray Plastics (America), Inc.
- Now Plastics Inc.
- Transcendia, Inc.
- Monta Klebebandwerk GmbH
- Nowofol Kunststoffprodukte GmbH & Co. KG
- Lenzing Plastics GmbH Co KG
- SJA Film Technologies Ltd.
- Hi-Tech International
- Duy Khang Packaging Company Limited
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MOPP Packaging Films Market by Category
By Thickness:
- Below 30 microns
- 30 to 60 microns
- Above 60 microns
By Application:
- Labels
- Tapes
- Wraps
- Laminates
By End Use:
- Food
- Beverages
- Cosmetics & Personal Care
- Electrical & Electronics
- Pharmaceutical
- Other Industrial
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania