About Biaxially Oriented Polypropylene
BOPP stands for biaxially oriented polypropylene (PP). It is a thermoplastic polymer and is widely used in packaging. PP is a derivative of petroleum and consists of carbon and hydrogen atoms only. The global demand for BOPP films is steadily growing. BOPP films have gained popularity in the global market because of their sealability, stiffness, transparency, twist retention, and barrier properties. These films are UV resistant and have smooth surfaces with good clarity and excellent chemical and abrasion resistance properties.
Technavio’s analysts forecast the global biaxially oriented polypropylene (BOPP) films market to grow at a CAGR of 6.4% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global biaxially oriented polypropylene (BOPP) films market for 2016-2020. To calculate the market size, the report contains the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market. The report also discusses the major drivers affecting market growth and the challenges faced by the vendors and the market as a whole. It also explores key emerging trends and their influence on current and future market scenarios.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Biaxially Oriented Polypropylene (BOPP) Films Market 2016-2020
Technavio recognizes the following companies as the key players in the global biaxially oriented polypropylene (BOPP) films market: Formosa Plastics, Jindal Poly Films, Taghleef Industries, and Treofan Group.
Other Prominent Vendors in the market are: Chiripal Poly Films, Cosmo Films, Guangdong Decro Film New Materials, D.K. Enterprises, Flex Film, Futamura Chemical, GMP, Inteplast Group, Ipak, Irplast, Jiangsu Kangde Xin Composite Material, Jiangsu Shenda Group, Jiangsu Shuangliang Packaging, Max Speciality Films, Mondi, SRF, Transilwrap, Viam Films, Vibac, and Vitopel.
Commenting on the report, an analyst from Technavio’s team said: “Cost reduction and convenience will be a key trend for market growth. The global BOPP films market is trending toward producing cost-effective films that have longer shelf lives. The food product and non-food product packaging industries are increasingly using BOPP films for packaging as these films provide longer shelf life and are cost-effective. BOPP films are produced using low-cost methods and are convenient for use in the packaging of food products, personal care products, and pharmaceutical products. Consumers tend to prefer products with flexible packaging, which has been possible with the use of BOPP films, particularly in the food and consumer goods segments.”
According to the report, rise in demand for packaged food will be a key driver for market growth. The global packaged food market will grow at a CAGR of 4.54% during the forecast period. This will have a positive impact on the global BOPP films market as consumers are becoming conscious about the way food products are being packaged. They are looking for cost-effective methods of food preservation, which are possible with improved packaging options. BOPP films offer high barrier properties, cost-effectiveness, and durability and are, thus, extensively used in food packaging. BOPP films can be coated to act as excellent barriers to aroma, oxygen, and moisture vapor and retain the freshness of food products such as bakery products.
Further, the report states that volatility in raw material prices will be a challenge against the market growth. The oil and gas industry is the principal supplier of raw material for the BOPP films market. Therefore, volatility in crude oil prices severely affects the price of raw materials, escalating the cost of producing BOPP films. Uncertain economic conditions in raw material markets cause volatility in raw material prices. When there is a positive sentiment in raw material markets, demand fluctuations are less. This provides ample opportunity for the growth of the raw materials markets and boosts the sales of the products offered by the end-user industries.
Formosa Plastics, Jindal Poly Films, Taghleef Industries, Treofan Group, Chiripal Poly Films, Cosmo Films, Guangdong Decro Film New Materials, D.K. Enterprises, Flex Film, Futamura Chemical, GMP, Inteplast Group, Ipak, Irplast, Jiangsu Kangde Xin Composite Material, Jiangsu Shenda Group, Jiangsu Shuangliang Packaging, Max Speciality Films, Mondi, SRF, Transilwrap, Viam Films, Vibac, Vitopel.
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