DALLAS, TX / ACCESSWIRE / January 25, 2021 / According to a new market report published by Lucintel, the future of the BOPA film market looks attractive with opportunities in the packaging, automotive, construction, and electrical & electronic industries. The global BOPA film market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $3.5 billion by 2025 with a CAGR of 5% to 7% from 2019 to 2025. The major drivers for this market are increasing demand for flexible packaging due to the growth in food & pharmaceutical market and superior mechanical strength, higher transparency, chemical resistance, and excellent gas barrier properties as compared to biaxially oriented polypropylene (BOPP) and biaxially oriented polyethylene terephthalate (BOPET) film.
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In this market, sequential, simultaneous, and blown process are used to produce BOPA films. Lucintel forecasts that the sequential process is expected to remain the largest segment due to low-cost, flexibility in the process while stretching, and high production rate. Simultaneous process is expected to witness the highest growth in the forecast period supported by the increasing demand for high value BOPA films for advanced applications, such as retortable pouches.
Within the BOPA film market, food packaging is expected to remain the largest end use industry; it is also expected to witness the highest growth during the forecast period, supported by the growth in demand for processed meat, red meat, and cheese packaging. Lucintel predicts that the demand for BOPA films in barrier functions is expected to remain the largest segment; it is also expected to witness the highest growth during the forecast period supported by superior protection properties, such as loss from aroma, permeation of water, increases shelf-life, maintain taste.
Asia Pacific is expected to remain the largest market by value and volume and is also expected to witness the highest growth over the forecast period because of growth in the demand for food and pharmaceutical packaging, automobile, and construction sectors due to economic expansions in India and China.
Emerging trends, which have a direct impact on the dynamics of the industry, include growing use of linear simultaneous stretching line (LISIM) technique and growing demand for balanced film with better dimensional stability and less shrinkage. Unitika Ltd., Green Seal Holding, Domo Chemicals, Toray, and A.J. Plast are among the major suppliers of BOPA film.
The study includes a forecast for the global BOPA film market by process, function, end use industry, and region as follows:
By Process [Volume (Kilotons) and $M shipment analysis for 2014 - 2025]:
By function [Volume (Kilotons) and $M shipment analysis for 2014 - 2025]:
By End Use Industry [Volume (Kilotons) and $M shipment analysis for 2014 - 2025]:
- Food Packaging
- Processed Meat
- Red Meat
- Dry Food
- Pharmaceutical Packaging
- Other Packaging
By Region [Volume (Kilotons) and $M shipment analysis for 2014 - 2025]:
- North America
- Asia Pacific
- South Korea
- Rest of the World
This 194-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
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