The global BOPET packaging films market is to register a CAGR of 5.5% and is expected to reach from USD 7.14 billion in 2023 to USD 12.31 billion by 2033. The need for clean and quality food is stimulating the size of the global BOPET packaging films market.
The technology guarantees speedy, affordable, hot, and fresh deliveries. Since nations like the United States, China, and India have offered different governmental permits to enter new technology, the technology has already become a battleground for businesses.
On the other hand, the implementation of strict regulations and high input costs disturb market expansion. Biaxially orientated polyethene terephthalate (BOPET) packaging films face challenges from the difficulties of recycling plastic films from 2023 to 2033.
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BOPET Packaging Films Future Trends:
Growing packaging demand is propelling the market forward. BOPET packaging films can extend the shelf life of a product, and the growing consumer base for high-barrier packaging solutions is fueling market growth. The rising concern about food safety is to propel biaxially oriented polyethene terephthalate packaging films market growth during the forecast period.
Growth in cosmetics demand, with a growing population, changing lifestyle, and rising per capita disposable income, is the primary factor spurring global BOPET packaging films demand. Cosmetics have a limited shelf life and must be stored properly. Several substitutes, such as aluminum foil, are more expensive than BOPET packaging films, further pushing BOPET packaging films market growth.
All types of biaxial-oriented films have advantageous qualities at low thickness, such as strong stiffness, good heat resistance, and an acceptable oxygen and moisture barrier balance.
Advantageous product features include outstanding rigidity, a smooth surface, excellent clarity, and chemical and abrasion resistance. Increasing pharmaceutical industry product safety needs is likely to generate profitable prospects for biaxially oriented polyethene terephthalate packaging films market expansion throughout the forecast period.
Regional Analysis of the BOPET Packaging Films Market
East Asia held the market leader position and is to develop at a CAGR of 6.6% during the forecast period. With a market share of 74.9% in 2023, China may continue to be a significant market for manufacturing and consuming BOPET packaging films.
India’s economy is rapidly expanding due to the region’s population, shifting lifestyles, and increased per capita disposable income. A sizable network of fast-food restaurants has sprung up, fueling the region’s market expansion.
Key Takeaways
- By thickness, the market’s 15–30-micron segment is to develop at a CAGR of 6% from 2023 to 2033, valued at USD 3,448.6 million by 2023.
- The labels segment in the application category in the market is to expand at a CAGR of 6.2% during the forecast period, valued at USD 775.8 million by 2023.
- By end-use industry category, the fresh produce segment in the market is to rise at a CAGR of 6.9% between 2023 and 2033, valued at USD 1,222.0 million by 2023.
- The United States market is likely to rise at a CAGR of 4.6% and reach USD 2,081.73 million by 2033.
- Spanish biaxially oriented polyethene terephthalate packaging films market to develop at a CAGR of 5% from 2023 to 2033, reaching USD 268.28 million.
- India BOPET films market to expand at a CAGR of 7.1% from 2023 to 2033, reaching USD 745.60 million.
- China market is to rise at a CAGR of 6.9% and reach USD 2953.47 million by 2033.
- China may still be a sizable BOPET packaging film market in 2023, with a market share of 74.9%.
- 90.8% of the market share in 2023 belonged to the United States.
- Brazil accounted for 37.3% of the BOPET Films market share in 2023.
- A 28.9% market share in 2023 was held by the German BOPET packaging films market.
Competitive Landscape
The global BOPET packaging films industry is fragmented due to competition from different regions. Leading BOPET packaging film manufacturers are expanding production capacity and investing in existing facilities to strengthen their global market position.
BOPET Packaging Film Market: Key Players
- Jindal Poly Films Limited
- Uflex Ltd.
- SRF Limited
- Mitsubishi Polyester Film, Inc.
- Futamura Chemical Co. Ltd.
- RETAL Industries Ltd.
- Fatra A.S
- DuPont Teijin Films U.S. Limited
- Polyplex Corporation Ltd.
- Ester Industries Limited
- Garware Polyester Limited
- Oben Holding Group S.A.C.
- Polinas Plastik Sanayi ve Ticaret A.S.
- Terphane LLC
BOPET Packaging Film Market: Key Segments
By Thickness:
- Below 15 Micron BOPET Packaging Films
- 15-30 Micron BOPET Packaging Films
- 30-50 Micron BOPET Packaging Films
- Above 50 Micron BOPET Packaging Films
By Application:
- Labels
- Tapes
- Wraps
- Bags & Pouches
- Laminates
By End-use Industry:
- Food
- Meat
- Fresh Produce
- Confectionery
- Dairy
- Others
- Beverages
- Cosmetics & Personal Care
- Electrical & Electronics
- Pharmaceuticals
- Other Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
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