BOPA films Market growth outlook with industrym

Snehal
Snehal 11/18/2019 6:06:57 AM

BOPA
films Market growth outlook with industry review and forecast 2019-2024


The medical & pharmaceutical industry will escalate the
BOPA films market
growth due to its applications in the packaging of medical equipment such as
syringe & bandages, surgical instruments, medicinal pills, etc. Low oxygen
transmission rate and high resistance to organic solvents, chemicals, and gases
make BOPA films a perfect packaging material for the medical &
pharmaceutical sector.

The primary hindrance to the growth of
BOPA films market is its moisture absorbing propensity, which deteriorates the
gas barrier property of the product. The other factor that will encumber the
market growth is the high cost and low availability of stretching equipment.

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Biaxially Oriented Polyamide (BOPA) Films
will surpass USD 6 billion by 2024; according to a new research report.
Biaxially Oriented Polyamide (BOPA) films are manufactured by stretching
polyamide films in the machine and transverse direction. Biaxial orientation of
the film imparts unique characteristics such as superior mechanical strength,
dimensional stability, and resistance against burst, impact, aroma, and gas.

The product exhibits glossy and
transparent surface, which provides an aesthetic look for packaging purposes.
BOPA films are gaining popularity as a high-performance packaging material
among other biaxially oriented films used in the flexible packaging of food
& beverage, medical & pharmaceutical, and electronics and household
products.

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.

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Food & beverage application category
depicted the maximum growth of over 9% CAGR and a revenue of over USD 1.5
billion in 2016. Rapid urbanization coupled with long working hours in Asia
Pacific provides a rising trend in the consumption of processed and
ready-to-eat food, which will surge the demand for flexible packaging material
in the forthcoming period. Various government regulations pertaining to
packaged food quality will augment the growth of BOPA films market.

On the basis of product, BOPA films are
bifurcated into specialty and plain BOPA films. The specialty segment leads the
market and will generate a revenue of over USD 5 billion in 2024. Two and
three-layered BOPA films find their extensive usage in the food & beverage
sector as a retort, shrink, and vacuum packaging film. These two sub-segments
together will occupy the majority share of the industry during the study
period.

On application basis, the BOPA films
market is categorized as medical & pharmaceuticals, electronics, food &
beverage, and others, which include book lamination, household products,
balloons, etc. The food & beverage sector covered over 65% of the end-use
landscape and will gain by approximately 10% CAGR during the study period.

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Asia Pacific will be profitable for the
growth and will account for more than 75% of the overall market in the coming
years. Trending demand for BOPA films with the growing endorsement of the
product in the packaging sector in developing countries will drive market
growth.

The key participants in the BOPA films
industry are Mitsubishi, Unitika, AMB Spa, A.J. Plast Public Company, Advansix,
Green Seal Holding, Kuraray, Sojitz, Domo, NOW Plastics, Idemitsu, Kunshan
Yuncheng Plastic Industry, Thaipolyamide, GUNZE, Impak Films, and AEC Group.

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