 Films Market Share.webp)
Biaxially Oriented Polyamide (BOPA) Films Market size was over USD 4.29 Billion in 2023 and is expected to exceed USD 10.59 Billion by the end of 2036, growing at over 7.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of biaxially oriented polyamide films is evaluated at USD 4.6 Billion. The growth of the market can be attributed to the increasing utilization of biaxially oriented polyamide (BOPA) films as flexible packaging material, especially in the food & beverage industry, along with the rapidly increasing personal care product industry. As per the United States Environmental Protection Agency (EPA), in 2018, 14.5 million tons of packaging and plastic containers were manufactured in the USA.
Global biaxially oriented polyamide (BOPA) films market trends such as, higher utilization of these films in several industries on account of excellent mechanical strength, high abrasion resistance, and resistance to flex-cracks, making them highly appropriate in packaging of products. It is observed in research, BOPA film has an outstanding shield to gas, fat, and aroma transmission, as well as remarkable mechanical durability and resistance to impact, puncture, and pin holing. Biaxially oriented polyamide (BOPA) films have an excellent property to prevent the oxidation of food items or products. All these characteristics of BOPA and its higher demand is anticipated to influence the market growth positively over the forecast period.
Growth Drivers
Packaged foods, such as ready to eat meals, processed meats, and baked goods, are considerably high in demand as a result of their easy to store and easy to cook factors. Such food items require a specific type of packaging, so that they stay fresh without getting any type of contamination. Therefore, the surge in packaged food consumption is fueling up the market growth of BOPA films.
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
7.2% |
|
Base Year Market Size (2023) |
USD 4.29 Billion |
|
Forecast Year Market Size (2036) |
USD 10.59 Billion |
|
Regional Scope |
|
Application (Food Packaging, Pharmaceutical Packaging, Electronics, Household, Chemical & Industrial)
The global biaxially oriented polyamide (BOPA) films market is segmented and analyzed for demand and supply by application into food packaging, pharmaceutical packaging, electronics, household, chemical & industrial,
others. Out of these types of segments, the food packaging segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing demand for packaging in several industry at rapid pace, especially in food & beverage industry and rise of various e-commerce portals which delivers food at doorsteps backed by the up-surged urbanization. For instance, in 2020, the global packaging industry grown to be worth of around USD 769 billion.
Type (Sequential Stretching, Mechanical Simultaneous Stretching, LISIM Simultaneous)
The global biaxially oriented polyamide (BOPA) films market is also segmented and analyzed for demand and supply by type into sequential stretching, mechanical simultaneous stretching, and LISIM simultaneous. Amongst these segments, the sequential stretching segment is expected to garner a significant share. The growth of the segment can be assigned to fact that it is a quite cost-effective processing method. Moreover, sequential stretching is a most common process that is used in the production of BOPTFE, BOPS, BOPLA, BOPET, BOPA, and others. Additionally, higher production of plastic has also spurred the demand for sequential stretching processing method. For instance, in 2021, approximately 400 million metric tons of plastic were produced across the globe.
Our in-depth analysis of the global market includes the following segments:
|
By Type |
|
|
By Function |
|
|
By Application |
|
The North America biaxially oriented polyamide (BOPA) films market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The growth of the market can be attributed majorly to the increasing expansion of the food and beverage industry which is fueling up the high demand for BOPA films since they are significantly required in food packaging for distribution and export. Food is a sensitive substance that can be contaminated within a short time period, therefore, it requires specialized packaging methods and this requirement is fulfilled by BOPA films in every parameter. As per the data provided by the U.S. Department of Agriculture, foodservice and food retail industries supplied approximately USD 1.81 trillion worth of food in 2020, out of this total, USD 922.2 billion value of food was supplied by foodservice facilities only. Moreover, rising demand for BOPA films from domestic products, as well as a significant surge in the pharmaceutical industry is also estimated to augment the growth of the global BOPA films market over the forecast period in the region. Pharmaceutical products come with the strict precautions and can be packed in materials that have been tested and recommended to preserve their capacity to treat diseases. As of 2021, the pharmaceutical industry in the United States was estimated to hit USD 500 billion, while nearly USD 550 billion were spent on medicine by Americans in a similar year.
 Films Market Growth.webp)
Mondi plc, a leading company in paper and packaging, launched Retort Pouch Recyclable, a mono-material solution. With this innovative high-barrier film, aluminum is replaced with a fully recyclable retort pouch solution. The mono-material solution is best suitable for wet pet food manufacturers and fully recyclable owing to the extensive research.
Mitsubishi Chemical Corporation, acquired the Gelest, Inc. from New Mountain Capital, LLC. Now Gelest has become the exclusively owned subsidiary of Mitsubishi Chemical America. Gelest is a renowned company in metal-organics, organosilanes, silicones, including medical devices, personal care and life sciences. The acquisition of the company is based on the advance management and growing customer pool.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?