The BOPA films market is projected to exhibit a steady growth rate of 5.3% from 2022 to 2030, ultimately reaching a market value of approximately US$1.6 billion. BOPA films, which are composed of biaxially oriented polyamide, offer a multitude of advantages, including being lightweight, environmentally friendly, and providing exceptional protection during transportation. These films are particularly well-suited for packaging perishable goods, such as food items, as they can withstand harsh weather conditions and aid in moisture removal, thereby extending the shelf life of the products.
The market for BOPA films presents ample opportunities across various industrial sectors, including consumer products, cosmetics, and medicines. These industries are increasingly adopting BOPA films to fulfill their sustainable packaging requirements. In the pharmaceutical sector, BOPA films find application in the production of blood and parenteral feeding bags, further expanding their usage within the market.
The diverse range of applications for BOPA films across different industries contributes to favorable growth conditions and promising sales prospects in the foreseeable future. The demand for sustainable packaging alternatives and the need for reliable product protection during transportation are driving the adoption of BOPA films. As a result, the market is expected to continue expanding in the coming years.
In summary, the BOPA films market is anticipated to pursue a competitive strategy and experience significant growth. The lightweight and eco-friendly characteristics of BOPA films, combined with their excellent product protection capabilities, position them as the preferred choice for packaging in various industries.
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“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
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.
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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.
Region-wise Insights on BOPA Films Market:
Asia Pacific: Strong competition among top players; dominates global market due to rapid expansion of food and pharmaceutical industries.
North America and Europe: Medium to high barriers to entry for new entrants; matured markets with significant market share.
Middle East and Africa: Low market share but expected to attract manufacturers due to presence of chemical and petrochemical industries.
Latin America: Remunerative growth opportunities; holds 6.5% market share.
South Asia: High growth rate with lucrative opportunities; moderate presence of local players and large number of MNCs.
East Asia: Largest market with over 33% market share; availability of raw materials and growing production.
Oceania: Limited presence of manufacturers; low market share of 2.6%.
Middle East and Africa: Low market share but expected to grow due to food & beverage and chemical industries.
Key Insights of the Report:
- Key Trends in the BOPA Films Market: The report highlights the key trends observed in the BOPA (Biaxially Oriented Polyamide) films market. These trends could include shifts in consumer preferences, changes in industry regulations, emerging applications, or evolving market dynamics. Understanding these trends is crucial for market participants to stay competitive and adapt their strategies accordingly.
- New Advancements in Production Technologies: The report provides insights into the latest advancements in production technologies related to BOPA films. This could include innovations in film extrusion, coating techniques, barrier properties enhancement, or other manufacturing processes. Keeping up with technological advancements is essential for companies to enhance their production capabilities and offer improved products to meet customer demands.
- New Product Launches: The report highlights recent new product launches in the BOPA films market. This could include the introduction of novel film formulations, modified properties, or specialized applications. These launches signify market players’ efforts to meet evolving customer needs and gain a competitive edge through innovation.
- Expansions in the BOPA Films Market: The report provides information on expansions in the BOPA films market. This could include expansions in production capacities, setting up new manufacturing facilities, or entering new geographical markets. Such expansions reflect market players’ strategies to cater to growing demand, penetrate new markets, or optimize their supply chain
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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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