Biaxially Oriented Polypropylene film market set to register CAGRD of over 6%

The global demand for BOPP film market was valued at US$10.81 bln in 2014 and is anticipated to generate revenue of US$15.55 bln by end of 2020, expanding at a CAGR of 6.3% between 2015 and 2020. In terms of volume, the global BOPP film market stood at 7.39 mln tons in 2014, as per Zion Research. BOPP film is most commonly used in candy wrappers, chips’ packaging, vitamin multi-packs, CDs and DVDs. BOPP film exhibit excellent physical and chemical properties such as elongation, superior tensile strength, excellent stability, improved optical properties, and improved barrier to water/gases. BOPP films are used in broad range of applications including food & beverage packaging, medical packaging, personal care packaging, tamper evident films, etc. It is also utilized as substitute for of cellophane, waxed paper, and aluminum foil. The major driving factor for BOPP film market is expanding flexible packaging industry on global scale. In addition, advancing technologies coupled with shifting preference to specialty films for food packaging in developing economies is expected to fuel the growth of this industry. However, environmental issues related to BOPP film production is expected to limit the growth of this industry. Furthermore, enormous untapped market for BOPP films in emerging economies is expected to offer growth opportunities to manufacturers. White/opaque/matt, metallized and transparent are the major product segments of BOPP film market. Transparent BOPP film was the leading product segment, which accounted for significant share of total volume consumption in 2014. White/opaque/matt is another important product segment of the global BOPP film market with around 13% share in total volume consumed in 2014. Metalized product segment expected to exhibit moderate growth rate over the forecast period. Growth of the metallized BOPP films can be primarily attributed to the rising demand owing to their characteristics like dimensional stability, clarity, thermal resistance and flatness. Key application markets for BOPP film includes pressure sensitive tapes, biscuits/bakery products, confectionary, dried foods, tobacco, pasta/noodles and other. Dried food dominated the global BOPP film market in 2014. Pressure sensitive tape was the second largest application segment in the BOPP film market in 2014. The pressure sensitive tapes market witnessed a significant growth in the recent years, and this growth is projected to persist in the coming years. Biscuits/bakery products were another leading segment in the BOPP film market. BOPP films are widely used in food packaging, as these offer high barrier properties and are cost-effective and durable. BOPP films offers coatings with excellent barriers to oxygen, aroma and moisture vapour, thereby retaining the freshness of the biscuits/bakery product. With over 45% shares in total volume consumption, Asia Pacific was the largest market in terms of production and consumption of bi-axially oriented polypropylene. Growing flexible packaging industry and changing consumer behavior is expected to drive the market in the region over the forecast period. In addition, shifting consumer preference towards flexible packaging and labeling of the consumer products is expected to fuel the market in the region. Some of the key market players in the global BOPP film market include, Taghleef Industries, Jindal Poly Films, Nan Ya Plastics, Treofan, Vibac, Vitopel, Jiangsu Shukang Packing Material Co., Ltd., Futamura, Cosmo Films, Kopa Films, DuPont, Innovia Films and Ampacet Corporation.