Anticipated to experience substantial growth, the BOPA film market is projected to expand at a Compound Annual Growth Rate (CAGR) of 5.30%. Projections indicate that the market value, set at US$ 1,130.8 million in 2024, is expected to witness a significant increase, reaching US$ 1,899.7 million by 2034. In 2023, the BOPA Film industry share was valued at US$ 1,072.3 million. This positive trajectory highlights the growing demand for BOPA films in various applications, including packaging and industrial uses. The increasing preference for high-performance films contributes to the steady growth of the BOPA film market.
In the realm of packaging materials, BOPA films stand out with their exceptional properties, giving them a competitive advantage over other flexible packaging options and driving substantial demand across various industry verticals.
The BOPA film market in India is poised to experience a robust CAGR of 6.2% until 2034, surpassing growth rates in both regional and international markets. This upward trajectory is attributed to factors such as the growing presence of key BOPA film providers, intensifying competition, and fostering innovation within the industry. Additionally, the sustained demand for BOPA films from the food and pharmaceutical sectors is expected to significantly contribute to the market’s value over the next decade.
Request Sample Report Here: https://www.futuremarketinsights.com/reports/sample/rep-gb-12253
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.
- The food industry will accelerate the market by nearly twofold during the forecast period.
- The BOPA films market is expected to be valued at US$ 1.58 billion by the end of 2030.
- Europe and East Asia are projected to capture over half of the global BOPA films market.
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.
Request Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-12253
Market Drivers:
- Growing Demand in Packaging Industry:
- BOPA films are widely used in the packaging industry due to their excellent barrier properties. The increasing demand for flexible packaging solutions, especially in the food and pharmaceutical sectors, can drive the market.
- Advantages in Flexible Packaging:
- BOPA films offer characteristics like high tensile strength, puncture resistance, and excellent clarity. These properties make them ideal for flexible packaging applications, contributing to the market’s growth.
- Rising E-commerce Activities:
- The growth of e-commerce has led to increased demand for robust and efficient packaging materials to protect goods during transportation. BOPA films may find applications in this context, contributing to market growth.
- Environmental Sustainability:
- If BOPA films are positioned as environmentally friendly or recyclable, they may experience increased demand as companies and consumers seek more sustainable packaging options.
Market Restraints:
- Price Volatility of Raw Materials:
- The cost of raw materials used in the production of BOPA films, such as polyamide resins, can be subject to fluctuations. Price volatility may pose challenges for manufacturers and impact overall market growth.
- Stringent Environmental Regulations:
- Environmental concerns and regulations regarding plastic usage and disposal may affect the market for BOPA films. Compliance with sustainability standards and regulations may pose challenges for manufacturers.
- Competition from Alternative Materials:
- BOPA films face competition from alternative materials in the flexible packaging industry, such as BOPP (Biaxially Oriented Polypropylene) films and biodegradable polymers. Market dynamics may be influenced by the performance and cost-effectiveness of these alternatives.
- Global Economic Uncertainties:
- Economic uncertainties and fluctuations in global markets can impact consumer spending patterns and overall demand for packaged goods, influencing the BOPA film market.
Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/12253
Key Segments Covered In BOPA Films Industry Research
by Grade:
- Nylon 6
- Nylon 66
by Thickness:
- Up to 10 Micron
- 11 to 20 Micron
- 21 to 30 Micron
- Above 30 Micron
by End-use:
- Food
- Pharmaceuticals and Healthcare
- Electrical and Electronics
- Chemicals
- Others (Industrial Packaging)
by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube