The BOPA films market is poised to embrace a competitive strategy as it anticipates a steady growth rate of 5.3% from 2022 to 2030, reaching a market value of US$ 1.6 billion.
BOPA films, which are made of biaxially oriented polyamide, offer several advantages such as lightweight composition, eco-friendliness, and exceptional protection during transportation. These films are particularly well-suited for packaging perishable goods, including food items, as they can withstand harsh climatic conditions and help in moisture removal, thereby extending the shelf life of products.
The main industrial end-use verticals present ample opportunities for the BOPA films market. Additionally, industries like consumer products, cosmetics, and medicines are increasingly adopting BOPA films to meet their sustainable packaging requirements. In the pharmaceutical sector, BOPA films find application in the manufacturing of blood and parenteral feeding bags, further expanding their usage in the market.
The diverse applications of BOPA films across various industries contribute to favorable growth conditions and sales prospects in the future. The demand for sustainable packaging options and the need for reliable product protection during transportation drive the adoption of BOPA films. As a result, the market is expected to witness continued expansion in the coming years.
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In summary, the BOPA films market is expected to pursue a competitive strategy and experience a notable growth rate. The lightweight, eco-friendly nature of BOPA films, along with their ability to provide excellent product protection, make them a preferred choice for packaging in various industries.
“Heightening demand for flexible packaging solutions is generating opportunities for manufacturers to introduce new solutions by incorporating recycled and sustainable alternatives to acquire a competitive edge,” says the FMI analyst.
Key Takeaways from FMI’s BOPA Films Market Report
- BOPA films of 11-20 microns are the most popularly used material, generating 3/5th of the revenue
- Nylon 6 derived BOPA films will account for a substantial portion of the revenue
- Food industry will accelerate the market by nearly twofold during the forecast period
- BOPA films market shall be valued at US$ 1.58 Bn by 2030-end
- Europe and East Asia shall capture over half of the global BOPA films market
BOPA Films Market- Key Trends
- Growing preference for online food purchases is bolstering adoption of BOPA films on the packaging front
- Providing orientation to convert resins into packaging films has heightened BOPA usage in industrial packaging
- Recycling challenges associated with multilayered packaging will restrain growth prospects in the long-run
- Re-usability of BOPA films will sustain its demand in the long-run
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BOPA Films Market- Region-wise Analysis
- East Asia will account for over 33% of the global BOPA films market due to availability of adequate raw material
- Influx of MNCs and local players underpins South Asia’s BOPA films market growth
- Europe & North America will capture 1/3rd share by 2020-end
- Latin America is poised to expand at a 6.5% CAGR through 2020
Competitive Landscape
In the consolidated BOPA films market, manufacturers are continuously focusing on enhancing product features to increase consumers’ convenience and stay one step ahead of their competitors. Also, they are widening their product portfolio to cater to a wider array of applications. In addition, R&D and capacity expansion in the BOPA films market is expected to grow significantly over the forecast period. BOPA films market players are strongly focusing on expansion and product developments.
- In 2019, Japan-based manufacturer Unitika Ltd. had announced its plan to expand its production capacity from 16,500 tons/year to 26,500 tons/year for its Indonesia-based manufacturing plant by the end of 2020.
- In 2019, Domo Chemicals launched “Nyleen” BOPA and CPA films for lower environmental impact with LCA declaration.
- In 2019, Oben Holding Group S.A.C. opened its second BOPA (Nylon) line with a production capacity of 13,000 MT/year installed in Peru. This new addition increased the company’s BOPA total capacity to 20,000 MT/year.
Key Players:
- Unitika Ltd.
- Mitsubishi Chemical Corporation
- Toray Advanced Film Co., Ltd.
- Winpak Ltd.
- Kolon Industries Inc.
- Hyosung Corporation
- Domo Chemicals
- Oben Holding Group S.A.C.
Region-wise Insights on BOPA Films Market:
Asia Pacific: Strong competition among top players; dominates global market due to rapid expansion of food and pharmaceutical industries.
North America and Europe: Medium to high barriers to entry for new entrants; matured markets with significant market share.
Middle East and Africa: Low market share but expected to attract manufacturers due to presence of chemical and petrochemical industries.
Latin America: Remunerative growth opportunities; holds 6.5% market share.
South Asia: High growth rate with lucrative opportunities; moderate presence of local players and large number of MNCs.
East Asia: Largest market with over 33% market share; availability of raw materials and growing production.
Oceania: Limited presence of manufacturers; low market share of 2.6%.
Middle East and Africa: Low market share but expected to grow due to food & beverage and chemical industries.
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Key Segments Covered In BOPA Films Industry Research
BOPA Films Market by Grade:
- Nylon 6
- Nylon 66
BOPA Films Market by Thickness:
- Up to 10 Micron
- 11 to 20 Micron
- 21 to 30 Micron
- Above 30 Micron
BOPA Films Market by End-use:
- Food
- Pharmaceuticals and Healthcare
- Electrical and Electronics
- Chemicals
- Others (Industrial Packaging)
BOPA Films Market by Region:
- North America BOPA Films Market
- Latin America BOPA Films Market
- Europe BOPA Films Market
- East Asia BOPA Films Market
- South Asia BOPA Films Market
- Oceania BOPA Films Market
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