H1 2023: In H1 2023, the major producers of BOPET Film were Uflex Limited, Polyplex Corporation Limited, Yingkou Kanghui Petrochemical Co.,Ltd., and SRF Limited. In January 2023, Jindal Poly Films Limited (JPFL), one of renowned BOPP film and BOPET film producer, faced a sudden fire explosion at its Mundhegaon unit in Igatpuri taluka. The boiler ignited a diesel tank and exploded the unit. JPFL faced this tragedy and resulted in several workers left injured. This resulted the company to temporarily shut down its production at the site. Based on consumption levels, BOPET Film were mostly consumed by the Asia Pacific region. The price of BOPET film in China's market increased substantially from January 2023. This is due to hike in the prices of raw material PET. Demand for downstream packaging products was strong during the first two months H1 2023. The demand for BOPET as a packaging material increased during Chinese New Year backed the demand for BOPET in the Chinese market. However, in March 2023, raw material prices fell in the Chinese market, resulting in lowering of production costs of BOPET films in China. Following a hike in the price of feedstock PET, BOPET Film's cost in the Chinese market increased in April 2023. The product price, however, reduced in May and June 2023 in China. The US faced a bearish market segment of BOPET Film in H12023. This was due to depletion in the prices of PET raw material with a stable demand from the downstream packaging industry. In addition, the US banking crisis affected product prices and reduced the liquidity in the financial markets. The downstream packaging industry's decreased demand was a major contributor to the BOPET market decline in the US.
The global BOPET Film market stood at nearly 6.7 million tonnes in 2023 and is expected to grow at a steady CAGR of 4.68% during the forecast period until 2034. The rise in demand for BOPET Film across numerous industries, including Food Packaging, Tobacco Packaging, and Non-Food Packaging is responsible for the BOPET Film market's expansion.
Biaxially Oriented Polyethylene Terephthalate (BOPET) is a versatile engineered film made from orientated Polyethylene Terephthalate (PET). These polyester films are transparent, flexible, and clear in appearance. They also have exceptional qualities including electrical and thermal insulation, high tensile strength, chemical and dimensional stability, reflectivity, and gas and odour barrier capacities. The BOPET films are widely employed in an array of industrial applications, such as flexible packaging and food contact, covering paper, insulating materials, consumer electronics, printing media, automotive parts, green energy, medical devices, and others. The PET film's biaxial orientation improves the product's crystallinity, making it appropriate for electrical/thermal insulation, food packaging, and printing sheets. Due to their outstanding water and moisture barrier qualities, BOPET films are frequently utilized in making plastic bottles for soft beverages. BOPET film is frequently used in tape applications because of its great mechanical strength, such as the carrier for magnetic tape or the backing for pressure-sensitive adhesive tapes.
However, flexible packaging structures is the biggest application for BOPET film. The demand for plastic packaging, electronics, and digital printing is constantly rising due to expanding urbanisation and industrialization across the globe, which is projected to drive the BOPET industry in the next years. Also, combined with retail sales of food and grocery items the demand for BOPET film is expected to further rise in the forecast period. The BOPET Film market is expected to reach 11 million tonnes in the year 2034.
Regionally, the Asia Pacific region is dominating the BOPET Film market. This region held a market share of approximately 58% in 2023. Growing per-capita income across developing nations such as India, China, coupled with growing population across Asia Pacific region is anticipated to propel the demand for ready-to-eat snacks, electronics, and other goods, which will most likely remarkably fuel the BOPET film market.
Based on the end-use, the global BOPET Film market is segmented into Packaging, Industrial, Electronics & Electricals, Imaging, and Others. Among these, Packaging is the largest application of BOPET film, with a market share of roughly 59% in 2023. BOPET packaging films are used for packaging dairy products, fresh produce, meat, and sweets. When printing and laminating, BOPET packaging maintains its integrity well. Because of this, this film is used for high-end visual packaging applications.
Major players in the production of Global BOPET Film are Jindal Poly Films Limited, Uflex Ltd., SRF Limited, Polyplex Corporation Limited, Ester Industries Limited, Cosmo Films Limited, Toray Group, Dupont Teijin Films, Terphane LLC, Jiangsu Shuangxing, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of BOPET Film which covers production, demand and supply of BOPET Film market in the globe.
• To analyse and forecast the market size of BOPET Film
• To classify and forecast Global BOPET Film market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of BOPET Film market in the globe.
To extract data for Global BOPET Film market, primary research surveys were conducted with BOPET Film manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global BOPET Film market over the coming years.
ChemAnalyst calculated BOPET Film demand in the globe by analyzing the historical data and demand forecast which was carried out considering demand for BOPET Film by the end-user industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• BOPET Film manufacturers and other stakeholders
• Organizations, forums and alliances related to BOPET Film distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as BOPET Film s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global BOPET Film market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
6.7 million tonnes
Market size Volume by 2034
11 million tonnes
Growth Rate
CAGR of 4.68% from 2024 to 2034
Base year
2023
Estimated year
2024
Historic Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Packaging, Industrial, Electronics & Electricals, Imaging, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
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What was the market size of the global BOPET Film market in terms of volume in 2023?
Ans:
What was the market size of the global BOPET Film market in terms of volume in 2023?
Q2.
Which application is the major consumer of Global BOPET Film market?
Ans:
Packaging is the largest application of BOPET Film and held a market share of approximately 59% in 2023.
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