India BOPET Film Market - 2023-2030

Market The India BOPET Film Market is expected to grow at a high CAGR of XX% during the forecasting period (2024-2031).

Polyester or biaxially oriented polyethylene terephthalate (BOPET) is a high-performance, crystal-clear thermoplastic made from ethylene glycol and dimethyl terephthalate (DMT). In comparison with other common plastic films, BOPET film has higher tensile strength, excellent dimensional stability, low moisture absorption, and good retention of physical properties over a fairly wide temperature range. It also has superior UV resistance, excellent electrical properties, good optical clarity, high gloss, and good gas barrier but only moderate moisture barrier properties. It is the ideal film for quality printing and lamination and a good choice for a high-performance plastic films and sheets. It has a relative high melting point, which makes it suitable for applications that require sterilization at high temperatures.

Market Dynamics

Rising demand for food packaging with increased focus on innovative and cost effective packaging materials

The BOPET is the is a polyester film made from stretched polyethylene terephthalate (PET) having high chemical & dimensional stability, high tensile strength, good transparency, reflectivity, gas and aroma barrier properties, as well as good electrical insulation. BOPET films are the part of composite films used for several packaging of food products including mayonnaises, snacks, ketchups, sauces, confections, pasta, fresh & frozen items tea, breakfast cereal, coffee,, perfumes, and light industry products,. Hence, BOPET films plays major role in the food processing and packaging industry. According to the India Brand Equity Foundation Organization report, the Indian packaging industry is valued at more than US$ 32 billion in 2015 and is projected to reach around US$ 73 billion in the 2020 growing with CAGR of 18% between 2015 to 2020. Further packaging industry has employed more than 10 lakh people across the country with more than 10,000 registered firms. The BOPET films for packaging are gaining demand in the food processing industries due to several reasons including it provides barrier against moisture low water absorption, transparency, high impact strength, high dimensional stability, resistance to strain, resistance to heat and flam. Further several leading players in India are increasing the production capacity of the BOPET films due to rising Indian processed food demand. For instance on 8 th Feb 2017, Cosmo films have added 60,000 tons of BOPP film production line at Karjan, India . With this installation of new line, the company increased its annual capacity by 40%, taking it to 196,000 metric tons, up 60,000 metric tons. Cosmo films current annual capacity registered at 136,000 metric tons.

Segmentation analysis

BOPET film with thickness less than 15 micron are substantially used in the flexible packaging for several applications including metalizing, electrical & thermal insulation, industrial coating, hot stamping, cable wrapping, thermal lamination etc. The BOPET films with this thickness has highest demand in the flexible packaging of fast moving consumers goods such as snacks pockets, hair shampoos, chocolate rappers etc. According to the India Brand Equity Foundation in 2016, FMCG market in India reached to US$ XX billion in 2021. and is expected to grow at a CAGR of XX% reaching to US$ XX billion by 2023. As the demand for these products in India is astounding due to rising population demand for packed foods which propels this segmental growth Further increasing demand for the flexible packaging in India has propelled this segmental growth. For instance as per the Federation of Indian Chambers of Commerce & Industry (FICCI) report, the flexible packaging was valued at US$ 23.3 Billion which is growing with CAGR of 18% and is expected to reach US$ 46.8 billion by 2020 These BOPET films are available in different forms such as chemically coated, matte, heat sealable plain, surface treated, metallizable, green, clear, extra clear and among several others

Major Players in India BOPET Market

The Major Players in India BOPET Market India BOPET market is highly fragmented with the presence of large International and national companies across the India. The market is highly competitive. Product innovation along with expansion by increasing the manufacturing capacity is one of the key strategies of the leading players. The key players are increasing production capacity to combat the India’s food packaging demand in order to stay ahead among competitors. The most active companies in India are Polyplex, Uflex, Jundal Poly, SRF, Ester Industries Ltd. and among others. The manufacturers are focusing on expanding and introducing new products according to the end user demands preferences. For instance, on 12th Jan 2017, Uflex launched FLEXPETTM F-PGB-12 an 12 micron bi-axially oriented polyethylene terephthalate (BOPET) barrier polyester film. This BOPET film has several benefits including good flexibility, good machinability, enhanced optical properties, transparency, and handling properties, as well as enhanced barrier to gas as compared to normal BOPET film.