As per as of late let data out of Future Market Insights (FMI), the polypropylene packaging films market should select a year-on-year (YoY) improvement of 5.9% in 2021, showing up at US$ 26.2 Bn. As demonstrated by the survey polypropylene, by and large, packaging films arrangements will augment at 6.5% CAGR some place in the scope of 2021 and 2031. Creating propensity towards versatile packaging is filling the arrangements of Polypropylene packaging films.
The fast advancement of polypropylene packaging films market can be credited to the creating revenue for versatile polypropylene packaging game plans across various endeavors, similar to food and reward, Pharmaceuticals, equipment and others.
With rising discretionary cashflow and expanding center pay populace, there is an immense interest for bundled food varieties across the world. Food makers are ceaselessly zeroing in on expanding the time span of usability of items. Subsequently, polypropylene films are being adjusted for enormous scopes for the end goal of packaging.
Polypropylene packaging films not just expand the time span of usability of food items yet in addition help to keep up with the nature of food. They are brilliant option in contrast to cellophane, waxed paper and aluminum foil.
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Inferable from different highlights of polypropylene films, for example, recyclability, optical lucidity, cost proficient and lightweight, they are broadly used for adaptable packaging arrangements across different application.
As the world is moving towards maintainable packaging, interest for ecofriendly arrangements is building up momentum. Rising natural worries alongside expanding mindfulness among individuals about the advantages of reasonable and recyclable packaging arrangements will decidedly influence the interest for polypropylene films.
Likewise, expanding reception of polypropylene films in electric and drug items packaging, attributable to their intensity opposition, dampness confirmation and effect obstruction properties will drive the market quickly during the estimate time frame. The market is supposed to outperform 13.2 Mn Tones in 2021.’
BOPP films fragment drives the polypropylene packaging films market. This can be ascribed to its dampness safe, better gas boundary, higher modulus, higher elasticity properties alongside expanding innovative work exercises for BOPP material.
North America drives the polypropylene packaging films market because of expanding interest for bundled merchandise in the locale. The North America market is set to enroll a CAGR of 5.4% somewhere in the range of 2021 and 2031.
“Developing extent of polypropylene films application in electronic, tobacco and medical services businesses alongside expanding innovative work exercises will grow the polypropylene packaging films market during the figure time frame,” says the FMI expert.
Key Takeaways from Polypropylene Packaging Films Market Survey
- North America leads the polypropylene packaging films market. The market is set to expand at 5.4% CAGR between 2021 and 2031.
- Europe market is forecast to register 4.7% CAGR during the forecast period.
- With expanding healthcare and food and beverage industries, East Asia is anticipated to take the spotlight during the forecast period.
- BOPP films segment leads the polypropylene packaging films market.
- Top 5 players operating in the market hold 8-10% market share in 2021.
Key Drivers
- Increasing inclination towards flexible packaging is driving the polypropylene packaging films market.
- Expanding application in food and beverage and healthcare sectors will positively impact the demand for polypropylene films
- Rising environmental concerns and increasing awareness among people regarding benefits of polypropylene films also will contribute to the growth of the market.
- Growing middle class population and rising disposable income will accelerate the sales of PP films.
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Key Restraints
- Fluctuations in the cost and availability of raw materials is hampering the growth of polypropylene packaging films market.
- Availability of better alternative packaging solutions might reduce the adoption of PP packaging films in various applications.
Competitive Landscape
Key companies operating in the global polypropylene packaging films market are focusing on expanding their product portfolio as well as their distribution networks. They have adopted various strategies such as mergers and acquisitions, development of new products and collaborations to gain a competitive edge in the market.
- In July 2020, LyondellBasell, the world’s largest licensor of polyolefin technologies announced that Quanzhou Grand Pacific Chemicals Co. Ltd. (QGPC) will use the LyondellBasell Spheripol technology for a 450 KTA polypropylene plant to be built in Quanzhou, P.R. China.
- In January 2019, Taghleef Industries (TI) completes the acquisition of Biofilm. The acquisition will help Taghleef Industries to increase its annual BOPP production capacity to more than 500000 tons.
Some of the prominent players operating in the Polypropylene packaging films market profiled by FMI are:
- Toray Plastics (America) Inc.
- Cosmo Films Ltd.
- Vacmet India Ltd.
- IrplastS.p.a,
- Polinas Plastik Sanayi ve Ticaret A.S.
- Profol Kunststoffe GmbH
- Taghleef Industries L.L.C.
- Thai Film Industries Public Company Ltd.
- Oben Holding group S.A.C.
- Rowad National Plastics Co., Ltd.
- LC Packaging International BV
- Jindal Poly Films Ltd., Uflex Ltd.
- Polyplex Corporation Limited
- Copol International Ltd,
- Schur Flexibles Holding GesmbH
- Filmax, Inteplast Group Ltd.,
- Dunmore Corporation
- Poligal S.A.
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More Insights on the Global Polypropylene packaging films Sales Outlook
FMI provides an unbiased analysis of polypropylene packaging films market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for polypropylene packaging films with a detailed segmentation on the basis of:
By Product Type:
- BOPP
- CPP
By Film Format:
- Clear Films
- Coated Films
- Matte Films
- White Films
- Metallized Films
By Thickness:
- Up to 18 micron
- 18 to 50 micron
- 51 to 80 micron
- Above 80 micron
By Application:
- Bags & Pouches
- Lamination
- Tapes
- Labels
- Wraps
- Others
By End Use:
- Food & Beverages
- Personal Care & Cosmetics
- Electric & Electronics
- Industrial
- Pharmaceuticals & Medical
- Tobacco
- Others
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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