CHICAGO, June 29, 2020
CHICAGO, June 29, 2020 /PRNewswire/ -- According to the new market research report "BOPP Films Market by Type (Wraps, Bags & Pouches, Tapes, Labels), Thickness (Below 15 Microns, 15-30 Microns, 30-45 Microns, More Tham 45 Microns), Production Process (Tenter, Tubular), Application, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the BOPP Films Market size is projected to grow from USD 24.2 billion in 2020 to USD 31.4 billion by 2025, at a CAGR of 5.3% from 2020 to 2025. The market is projected to grow in accordance with the growth of the packaging industry across the globe. BOPP film products are known for their properties, such as increased toughness, improved oil and grease resistance, enhanced clarity, increased stiffness, and enhanced barrier properties to water vapor and oxygen. These properties of BOPP film products increase their preference in a wide range of applications.
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In terms of value & volume, Bags & Pouches is estimated to dominate the BOPP films market in 2019.
Bags & Pouches, by type, accounted for the largest market share in the BOPP films market. BOPP film is made up of poly film that offer premium durability to the product packaging. This poly film is laminated into polyethylene fabric and converted into bags and pouches. BOPP bags & pouches primarily find applications in the packaging of cereal & pulses, pet food, grass seed, animal nutrition, fertilizers, beverages, dairy products, and cosmetics.
In terms of value and volume, 15-30 microns is estimated to lead the BOPP films market in 2019.
15-30 microns, by thickness, led the BOPP films market in 2019, in terms of value and volume. Their superior machinability make BOPP films suitable for horizontal form fill seal (HFFS) as well as vertical form fill seal (VFFS) packaging applications. They have high clarity and good strength in single web packaging applications. BOPP films of above 15 micron thickness are approved for direct food contact applications.
Food is estimated to be the largest segment in the BOPP films market in 2019.
Food, by application, accounted for the most significant demand for bopp films in 2019, in terms of value and volume. The key driver for the BOPP films market in food packaging is the growing demand for compact and lightweight packaging in baby food and pet food. BOPP films are also available for single-time use. In the food industry, BOPP films wraps and pouches are widely used in the packaging of sauces, pet food, ready-to-eat/frozen meal, candies, chocolates, snacks, dried fruits & nuts, and confectionery products.
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The APAC region is projected to account for the largest share in the BOPP films market during the forecast period.
The APAC region is projected to lead the BOPP films market, in terms of both value and volume from 2020 to 2025. According to the World Bank, APAC was the fastest-growing region, in terms of both population and economy. Countries such as India and China are expected to post high growth in the BOPP films market due to the increasing developmental activities and rapid economic expansion.
According to the World Bank, the two economic giants of the APAC region, China and Japan, are the world's second- and third-largest economies in 2019. In addition to this, the growing population in these countries presents a huge customer base for FMCG products and food & beverages, which in turn, is expected to lead to the growth of the BOPP films market. Changes in packaging styles, innovations in flexible packaging designs, and increase in demand for personal care products due to the rise in the young population are expected to drive the market for BOPP films in this region.
C Cosmo Films (India), Taghleef Industries (UAE), CCL Industries (Canada), Jindal Poly Films (India), Inteplast Group (US), and Polibak (Turkey) are the key players operating in the BOPP films market. Expansions & investments, and acquisitions are some of the significant strategies adopted by these key players to enhance their positions in the BOPP films market.
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