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Biaxially Oriented Polyamide (BOPA) Films Market worth $6bn with CAGR over 10% to 2024

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Biaxially Oriented Polyamide (BOPA) Films Market worth $6bn with CAGR over 10% to 2024

October 10
15:45 2018

Some of the major Biaxially Oriented Polyamide (BOPA) Films market participants mentioned in this report are AdvanSix, Unitika Ltd., Sojitz Corporation, Mitsubishi Chemical Corporation, Kunshan Yuncheng Plastic Industry Company, AMB Spa, Oben Holding Group and 13 others.
North America BOPA Films market generated revenue exceeding USD 120 million in 2016 and will grow by a CAGR of around 10.5% during the forecast period owing the flourishing U.S. food packaging industry.

Global Market Insights, Inc. presents most up-to-date research report on “Biaxially Oriented Polyamide (BOPA) Films market with recent research (2016-2017) and the current scenario (2018) along with future market potential (2019-2024), Size, Share, Products, By Product (Plain BOPA, Specialty BOPA [Two-layered, Three-layered, Five-layered, Seven-layered]), Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC)”.

Report predicts biaxially oriented polyamide films market size will surpass USD 6 billion by 2024. The superior barrier properties of BOPA films will augment its market growth in the study period. The product has excellent mechanical properties such as resistance to puncture, burst, impact, and tear. It also exhibits high abrasion as well as flex crack resistance. Stretching the film in two directions enhances its dimensional stability providing optimum performance during converting and packaging.

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Specialty and plain BOPA films are the two product segments in the overall BOPA films market. Specialty segment dominated the market and is likely to generate a revenue exceeding USD 5.5 billion by 2024. This segment’s development will be augmented by the growing demand for vacuum, retort and shrink-packaging films in the food & beverage industry. Three-layered films are a key specialty BOPA films sub-segment which is likely to grow by more than 11.5% CAGR till 2024.

The food & beverage sector provides a lucrative growth opportunity for the product market owing to its inimitable properties. BOPA films have a vital role in the packaging of processed food, seafood, dairy products, and others. The food & beverage sector covered over 65% of the end-use landscape and will gain by approximately 10% CAGR during the study period. Food & beverage application category depicted the maximum growth of over 9% CAGR and a revenue of over USD 1.5 billion in 2016.

An insight into BOPA films market trends from the pharmaceutical sector:

Medical & pharmaceutical packaging is a key application segment in the BOPA films market. This segment is likely to generate a revenue above USD 250 million by 2024. The product is mostly used in cold formed pharmaceutical packaging industry. They are also used for packing medicinal pills, surgical instruments & accessories, gauzes & bandages, syringes etc.

The domain of pharmaceutical packaging has been exhibiting a massive rise in recent years, as drugs require highly reliable packaging that offers quality, security, product protection, and temper evidence. With continuous innovations in the pharma sector that are aimed at treating numerous diseases, the pharma packaging space has also been undergoing a change of trends. BOPA films, it has been proved, provide exceptional security characteristics, securing drugs from external contaminants, mechanical damage, light, and oxygen and moisture penetration, owing to their high mechanical strength and oxygen & moisture barrier capability. In consequence, this would have a profound impact on BOPA films industry share from the pharma sector.

Browse key industry insights from the [email protected] https://www.gminsights.com/industry-analysis/biaxially-oriented-polyamide-bopa-films-market

Nowadays, medication packaging comprises low and high-density materials that are used to customize the packaging design. The ever-increasing demand for advanced pharmaceutical packaging for medicinal pills, blood nutrition bags, instant cold bags, syringes, surgical instruments, and bandages will thus markedly boost biaxially oriented polyamide films market outlook.

Europe is also a major BOPA films market accounting for more than 15% of the overall industry in 2016. The regional market will grow at a significant rate during the forecast period owing to a booming medical & pharmaceutical industry.

North America BOPA Films market generated revenue exceeding USD 120 million in 2016 and will grow by a CAGR of around 10.5% during the forecast period owing the flourishing U.S. food packaging industry.

Asia Pacific is the most significant BOPA films market which is likely to account for over three-fourth of the total industry by 2024. Asia Pacific product market will gain by around 11.5% CAGR during the study period. High growth in the Asia Pacific flexible packaging market coupled with increased acceptance of the product in the packaging industries of China, Japan, and South Korea will augment the BOPA films market in this region.

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Some of the major Biaxially Oriented Polyamide (BOPA) Films market participants include AdvanSix, Unitika Ltd., Sojitz Corporation, Mitsubishi Chemical Corporation, Kunshan Yuncheng Plastic Industry Company, AMB Spa, Oben Holding Group, A.J. Plast Public Company, Cangzhou Mingzhu Plastic Company, Green Seal Holding Ltd., Triton International Enterprises, Kuraray Company, Domo Group, Impak Films U.S. LLC., NOW Plastics, GUNZE Limited, Thaipolyamide Company, AEC Group, Idemitsu Kosan Company, Transparent Paper Ltd., etc.

 

Browse Related Report:

1. Paperboard Packaging Market Size By Raw Material (Fresh Sources, Recycled Waste Paper), By Product (Boxboard [Folding Boxboard, Solid Unbleached Board, Solid Bleached Board, White Lined Chipboard], Containerboard), By Application (Food & Beverages, Non-Durable Goods, Durable Goods, Medical), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024. The report predicts Paperboard Packaging Market size will likely surpass USD 240 billion by 2024.

https://www.gminsights.com/industry-analysis/paperboard-packaging-market

2. Packaging Materials Market Size By Material (Paper & Cardboard, Rigid Plastic, Metal, Flexible Plastic, Glass, Wood, Textile), By Product (Bottles & Cans, Containers & Jars, Bags, Pouches, & Wraps, Closures & Lids, Boxes & Crates, Drums & IBCs), By End-user (Food, Beverage, Healthcare, Cosmetics, Household Products, Chemicals), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, Saudi Arabia, UAE, Kuwait, Qatar, South Africa), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024. Packaging Materials Market size will surpass USD 1.3 trillion by 2024.

https://www.gminsights.com/industry-analysis/packaging-materials-market


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