H1 2023: In H1 2023, the prominent players in the global BOPP Film market were Forop Advanced Materials Co., Ltd., Gettel Inc., and Cosmo Films Limited. In January 2023, Jindal Poly Films Limited (JPFL), one of the prominent BOPP film and BOPET film producers of India, witnessed an unfortunate fire incident at the Mundhegaon unit in Igatpuri taluka. The boiler ignited a diesel tank and exploded, causing this sudden tragedy. In May 2023, Innovia Films, one of the leading producers of BOPP Films announced an expansion at the Dow ValuePark Schkopau, located at Leipzig in Germany. The new multi-layer coextrusion line at this new unit will produce advanced thin label films. The unit will have an annual capacity of 36,000 tons and is expected to be operational in the second half of 2024. During H1 2023, BOPP Film prices fell in the Asia Pacific region, especially in developing nations like India and China. It was backed due to the low prices of raw material polypropylene during H1 2023. The Lunar New Year holiday led to the closing of factories in China to shut down for about three weeks However, South Korea recorded a positive market outlook with the demand from downstream packaging and electronics industries progressively rising till April 2023. The BOPP film prices fell from the end of April 2023 to June 2023 in South Korea. In April 2023, Cosmo First, a popular name in the Biaxially Oriented Polypropylene (BOPP) Film market, announced an investment of USD 609 million in capex over the next two years for the expansion of BOPP Film and other films, Zigly, and the expansion of their film vertical.
The global BOPP Film market stood at nearly 8 million tonnes in 2022 and is expected to grow at a steady CAGR of 5.11% during the forecast period until 2032. The rise in demand for BOPP Film across a range of industries, including Food Packaging, Tobacco Packaging, Non-Food Packaging, and Industrial application is responsible for the BOPP Film market's expansion.
BOPP films (Biaxially Oriented Polypropylene Films) are widely used for packaging, labelling, and lamination purposes. Due to their low cost and required qualities, BOPP films are now employed in food packaging in place of cellophane films, which were formerly used in the packaging of cigarettes and snacks. Due to their low cost, ability to act as a gas barrier, and mechanical and optical qualities, these films have also been utilized in the pharmaceutical and medical industries. Flexible packaging films like BOPP films have become the preferred type of packaging in theses industries because of its adaptability, ability to be customized, efficacy in protecting resources, and sustainability. They also offer consumers a convenient shopping experience by making it easier to move the goods because of their low weight. The BOPP Film market is expected to reach 14.5 million tonnes in the year 2032.
Regionally, the Asia Pacific region is dominating the BOPP Film market. This region held a market share of approximately 38% in 2022. Growing per-capita income across developing nations such as India, China, Japan, and Bangladesh are anticipated to propel the demand for ready-to-eat snacks, dairy products, and other commodities, which will most likely substantially fuel the BOPP film market. North America also holds considerable market shares. The majority of food product sales in North America are made at retail establishments, which contributes to the market. Currently, Italy holds the maximum capacity for producing BOPP Film and is likely to keep the hold on the market in the forecast period.
Based on the end-user industry, the global BOPP Film market is segmented into Food Packaging, Tobacco Packaging, Non-Food Packaging, Industrial, and Others. Among these, the Food Packaging is consuming the majority of BOPP Film. In 2022, the food packaging industry consumed approximately 63% of the market and is likely to maintain its dominance in the forecast period. Increased demand for sustainable packaging materials like BOPP film for packing ready-to-eat snacks and dairy items owing to its biodegradable nature is anticipated to propel the BOPP film demand in the forthcoming years.
Major players in the production of Global BOPP Film are Cosmo Films Limited, Taghleef Industries, CCL Industries, Jindal Poly Films, Sibur Holdings, Zhejiang Kinlead Innovative Materials, Inteplast Group, Poligal S.A, Uflex Ltd, Polinas, Polibak, Toray Industries, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of BOPP Film which covers production, demand and supply of BOPP Film market in the globe.
• To analyse and forecast the market size of BOPP Film
• To classify and forecast Global BOPP Film market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of BOPP Film market in the globe.
To extract data for Global BOPP Film market, primary research surveys were conducted with BOPP 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 BOPP Film market over the coming years.
ChemAnalyst calculated BOPP Film demand in the globe by analyzing the historical data and demand forecast which was carried out considering the demand from end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• BOPP Film manufacturers and other stakeholders
• Organizations, forums and alliances related to BOPP 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 BOPP Film s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global BOPP 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 2022
8 million tonnes
Market size Volume by 2032
14.5 million tonnes
Growth Rate
CAGR of 5.11% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
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, Policy and Regulatory Landscape.
Segments covered
By End-Use: (Food Packaging, Tobacco Packaging, Non-Food Packaging, Industrial, 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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What was global market size of BOPP Film in terms of volume in 2022?
Ans:
The global market size of BOPP Film has grown significantly in the historic period of 2015-2022 and reached approximately 8 million tonnes in 2022.
Q2.
Which industry is the major consumer of Global BOPP Film market?
Ans:
The Food Packaging industry is dominating the BOPP Film market with a market share of approximately 63% in 2022.
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