According to the information provided, the BOPA films market is expected to adopt a competitive strategy and grow at a Compound Annual Growth Rate (CAGR) of 5.3% from 2022 to 2030, reaching a market value of US$ 1.6 billion.
BOPA films, made from biaxially oriented polyamide, offer several advantages such as lightweight, eco-friendliness, and high-level protection for packaged items during transportation. They are particularly well-suited for packaging perishable goods like food due to their ability to withstand harsh climatic conditions. BOPA films also aid in moisture removal, which helps to extend the shelf life of the packaged products.
The BOPA films market is expected to find opportunities across various industrial end-use verticals. They are increasingly being adopted by industries such as consumer products, cosmetics, and medicines to provide sustainable packaging options. In the pharmaceutical industry, BOPA films are used to manufacture blood and parenteral feeding bags, among other applications.
The diverse range of uses for BOPA films creates favorable growth conditions for the market. As industries seek sustainable packaging solutions and the demand for perishable goods packaging continues to rise, the BOPA films market is poised for growth. The ability of BOPA films to offer lightweight protection, eco-friendliness, and moisture control contribute to their attractiveness in various sectors.
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In summary, the BOPA films market is expected to experience growth with a CAGR of 5.3% due to their lightweight nature, eco-friendly characteristics, and high-level protection for packaged goods. The market’s expansion will be driven by increased adoption in industrial verticals such as consumer products, cosmetics, and pharmaceuticals, where sustainable packaging options are sought after.
“Heightening demand for flexible packaging solutions is generating opportunities for manufacturers to introduce new solutions by incorporating recycled and sustainable alternatives to acquire a competitive edge,” says the FMI analyst.
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
- Food industry will accelerate the market by nearly twofold during the forecast period
- BOPA films market shall be valued at US$ 1.58 Bn by 2030-end
- Europe and East Asia shall capture over half of the global BOPA films market
BOPA Films Market- Key Trends
- Growing preference for online food purchases is bolstering adoption of BOPA films on the packaging front
- Providing orientation to convert resins into packaging films has heightened BOPA usage in industrial packaging
- Recycling challenges associated with multilayered packaging will restrain growth prospects in the long-run
- Re-usability of BOPA films will sustain its demand in the long-run
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BOPA Films Market- Region-wise Analysis
- East Asia will account for over 33% of the global BOPA films market due to availability of adequate raw material
- Influx of MNCs and local players underpins South Asia’s BOPA films market growth
- Europe & North America will capture 1/3rd share by 2020-end
- Latin America is poised to expand at a 6.5% CAGR through 2020
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.
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Key Segments Covered In BOPA Films Industry Research
BOPA Films Market by Grade:
- Nylon 6
- Nylon 66
BOPA Films Market by Thickness:
- Up to 10 Micron
- 11 to 20 Micron
- 21 to 30 Micron
- Above 30 Micron
BOPA Films Market by End-use:
- Food
- Pharmaceuticals and Healthcare
- Electrical and Electronics
- Chemicals
- Others (Industrial Packaging)
BOPA Films Market by Region:
- North America BOPA Films Market
- Latin America BOPA Films Market
- Europe BOPA Films Market
- East Asia BOPA Films Market
- South Asia BOPA Films Market
- Oceania BOPA Films Market
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