The growing demand for efficient packaging solutions to increase the shelf life of products is driving the market demand. Rising demand from food and beverage, cosmetic, pharmaceutical and other end-user sectors is again fueling the market growth. Also, rising demand for relatively cheap, durable, efficient, convenience packaging solutions across all end-use industries is likely to foster market demand. Moreover, excellent properties such as gas & aroma resistance, UV resistant, high strength, better transparency, and electrical insulation are again boosting the market growth.
The latest report by Value Market Research expects the Global BOPET Film Market to reach USD 14.08 BN by 2030 with a CAGR of 6.5%.
BY APPLICATION, PACKAGING ACCOUNTED MAXIMUM MARKET SHARE
The packaging accounted for a major market share owing to superior clarity, chemical and abrasion resistance, good optical clarity, etc. are the factors driving the segment growth. Also, the rising demand for safe and high-barrier packaging solutions, especially in the food and beverage, and pharmaceutical industries to ensure product safety, is further fueling the segment growth.
ASIA PACIFIC LED THE REGIONAL MARKET
Geographically, Asia Pacific dominated the market. The growing population, increase in disposable income, and rising awareness regarding food safety are driving regional market growth. Also, the increased use of cosmetics especially among the female population is further contributing to the market growth.
KEY PLAYERS OF THE MARKET
Flexfilms launched two BOPET films: FlexMetProtect-F-HBP-M is an aluminum foil replacement metallized high-barrier BOPET film. The second, FlexPet F-HPF is a puncture-resistant, nylon replacement BOPET film. Some of the prominent players in the BOPET film market include DuPont Teijin Films, JBF, Jindal, Kolon, Mitsubishi, Polyplex, SKC Films, SRF, Terphane, and Toray.
As per this study the Global BOPET Film Market was valued USD 8.51 BN (by revenue) in 2022 and is anticipated to reach USD 14.08 BN by 2030 with a CAGR of 6.5%.
BOPET or biaxially oriented polyethylene terephthalate film is a clear, flexible, high performance polyester film mainly used for packaging application. These films posses' high tensile strength, better chemical, dimensional stability, reflectivity, and electrical insulation along with gas and aroma barrier properties. BOPET films are suitable in food packaging, electric insulation, printing sheets, pharmaceutical, aviation and marine application.
Market Dynamics
The market has witnessed significant growth in past few years owing to rising demand from cosmetic and food and beverage industry. Use of BOPET to improve shelf life of the products is again fueling the market growth. Owing to excellent properties such as high strength, better chemical stability and electrical insulation and gas resistance is boosting the market demand across various end-user industry.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of BOPET film.
Market Segmentation
The broad BOPET film market has been sub-grouped into application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product
- Bags
- Pouches
- Wraps
- Sachets
- Others
By End-Use
- Pharmaceuticals
- Cosmetics & Personal Care
- Automotive
- Food & Beverages
- Electrical & Electronics
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for BOPET film in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global BOPET Film Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the BOPET film market includes Polyplex (India), Jindal Poly Films Ltd. (India), Garware Polyester Ltd. (India), Mitsubishi Polyester Film, Inc. (U.S.), Terphane (U.S.), Sumilon Industries Ltd. (India), Fatra A.S. (Czech Republic), Jiangsu XingyePolytech Co., Ltd. (China), Fuwei Films (Holdings) Co., Ltd. (China), and Polinas (Turkey). An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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