Asia Pacific Bopp and Bopet Films Market Size Set to Grow at 6.1% CAGR During 2023–2029

Published | 01 January 2023

Asia-Pacific bopp and bopet films market is gaining traction because of the high mechanical strength and thermal properties of bopet films, an increasing demand for bi-axially oriented films, and a wide range of application across end-use industries.

According to BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Asia-Pacific bopp and bopet films market size to grow at a steady CAGR of 6.1% during the forecast period between 2023 and 2029. Due to the booming packaging business and a considerable shift from other conventional packaging materials like cartons and metal cans, the Asia-Pacific bopp and bopet films market is flourishing. Bopp and bopet films provide several benefits that are useful to both packagers and customers, including moisture barrier, extremely low toxicity, controlled transparency, strength, and fatigue resistance. The booming global economy and the rising e-commerce sector are now recognized as two additional key drivers of the Asia-Pacific bopp and bopet films market's expansion.

Asia-Pacific bopp and Bopet Films Market – Overview

Biaxially Oriented Polypropylene Films (BOPP) and Biaxially Oriented Polyethylene Terephthalate (BOPET) Films are two types of polyester films that are mostly used for packaging, marking, and laminating. These films are mostly employed in the fields of personal care, pharmaceuticals, and electrical and electronics. These two films differ in their core properties. The BOPET film, one of the biaxially oriented ones, offers performance at low thickness, high stiffness, strong heat resistance, and a fair balance of oxygen and moisture vapor barrier. On the other hand, BOPP provides the best moisture vapor barrier and has the lowest density.

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Asia-Pacific bopp and Bopet Films Market – By Application

Based on application, Asia-Pacific bopp and Bopet Films market is segmented into food, meat, fresh produce, confectionery, dairy, tobacco, beverages, cosmetics & personal care, electrical & electronics, pharmaceuticals, and others. The food segment accounted for the highest market share in 2022. The use of bopp films is immensely popular in the food industry as these films are made of highly sterilized materials. Food is protected against oxidation when product packaging is laminated with BoPET foil. As a result, the food products retain their original flavors and smells and have a longer shelf life.

Impact of COVID-19 on Asia-Pacific bopp and Bopet Films Market

The unprecedented COVID-19 outbreak significantly disrupted the growth of the Asia-Pacific bopp and bopet films market. As the countries imposed strict lockdowns to curb the virus spread, the operations of various end-user industries including food were halted, which directly impacted the demand for bopp and bopet films. The production of bopp and bopet films was also hindered during the lockdown period due to social distancing norms and a shortage of workforce. However, the market is expected to flourish during the post COVID-19 period owing to the rising demand for packaged food items and the shift towards flexible packaging.

Competitive Landscape

Major players operating in Asia-Pacific bopp and Bopet Films market include Jindal Poly Films Limited, Uflex Ltd., SRF Limited, Futamura Chemical Co. Ltd., RETAL Industries Ltd., Polyplex Corporation Ltd., Ester Industries Limited, Cosmo Films, CCL Industries, TORAY INDUSTRIES, INC., and Altopro. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Asia-Pacific Bopp and Bopet Films Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Asia-Pacific Bopp and Bopet Films Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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