BOPP Films Market Outlook - Supply and Demand Analysis 2024-2032

BOPP Films Market

BOPP (Biaxially-Oriented Polypropylene) film is produced from polypropylene resins and is widely used in the lamination, packaging, and labelling industries. It is a strong and durable film that is highly resistant to puncturing, tearing, and other types of damage. BOPP films have moisture barrier properties, high clarity and seal ability, and graphic reproduction that make them an ideal option for food packaging.

Global Supply/Demand Outlook

The global BOPP films market stood at a volume of around 10,370.0 KT in 2023. The market is estimated to grow at a CAGR of 4% between 2024 and 2032 to reach a volume of about 14,788.1 KT by 2032. The cost-effectiveness, ready availability, and easily convertible nature of BOPP film make it an economical choice for packaging and labelling applications across various industries. Food packaging is the leading application of BOPP film, accounting for around 63% of the total market value. In the food and beverage industry, it is used by businesses aiming to lower costs while offering quality packaging to protect food items and beverage products from damage during storage and transportation. It is used to generate different types of packaging, such as stand-up pouches, side gusseted bags, and vacuum pouches due to its durability and high transparency and clarity that make it effective for labelling and branding. Furthermore, it is also used for non-food packaging applications like personal care and cosmetics packaging and medical packaging.

Moreover, BOPP film is known for its low carbon footprint when compared to other plastic film substrates such as polyester. Its eco-friendly characteristics make it the most preferred substrate after cellulose film for flexible food packaging applications. Furthermore, reprocessed BOPP resin granules are witnessing a growing utilisation for developing injection moulded components, furniture such as chairs and tables, and other home products like seat mats.

The global capacity of BOPP film was about 16,000 KT in the year 2023. It is estimated to reach 21,000 KT by 2032. The plant capacity utilization of BOPP film stood at 65% in 2023.

Regional Market Analysis

In terms of consumption, the Asia Pacific dominates the market, accounting for 40% of the total market value. The rapid growth of the food and beverages industry in the region, supported by rising population and increasing consumption of processed foods, drives the demand for durable, low-cost, and versatile packaging solutions. This aids the market for BOPP film in the region, with China and India representing some of the key markets for the product.

Key Market Players

The top players in the BOPP films market are Taghleef Industries, CCL Industries, Uflex Ltd, Jindal Poly Films, Sibur Holdings, Zhejiang Kinlead Innovative Materials, Interplast Group, Poligal SA, Polinas, Polibak, Toray, and Cosmo Films Limited, among others. The top 10 companies hold nearly 40% of the overall capacity.

Taghleef Industries, one of the leading BOPP film suppliers globally, offers a range of high-quality PP-based and biodegradable films for various applications including flexible packaging, decorative surfaces, graphic arts, labels, and industrial applications. The company’s high-quality solutions are designed to meet some of the most demanding requirements across industries. The company’s film production capacity stands at 500 k tonnes, and it has 11 production sites that are spread across 6 continents.

Key Questions Answered in the Report:

• What are the high-growth opportunities and markets for BOPP films by end use and region?
• What are the thickness of BOPP films by region?
• Which segments and regions are projected to grow at a faster pace and why in the BOPP films market?
• What is the nameplate capacity of BOPP films by region from 2018 to 2032?
• How does the plant capacity utilisation of BOPP films vary by region between 2018 and 2032?
• Who are the major players in the BOPP films market by capacity and region?
• What major plant shutdowns and expansions have occurred in the BOPP films market in the last year and the last quarter?
• What major plant shutdowns and expansions are planned in the BOPP films market over the next year and quarters?
• How did export and import dynamics of BOPP films vary by region in terms of value between 2018 and 2023?
• How did export and import dynamics of BOPP films vary by region in terms of volume between 2018 and 2023?
• What impacts have shutdowns, force majeure events, and plant closures had on demand and pricing of BOPP films?
• What are the environmental considerations and regulatory impacts affecting the BOPP films market?
• What technological innovations are having an impact on the production and application of BOPP films?
• What are the key trends and innovations in the BOPP films market?
• What are the challenges and opportunities faced by BOPP films manufacturers?
• What are the potential risks and barriers to entry for new players in the BOPP films market?
• What strategic investments and expansions have major players made in the BOPP films market?
• How are geopolitical factors and international trade policies affecting the global BOPP films market?
• What are the price trends for BOPP films, and how are they expected to change?
• How does the supply chain of BOPP films operate, and what are its key components?