Global BOPE Film Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global BOPE Film Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

BOPE, short for Biaxially Oriented Polyethylene, is a type of flexible plastic film produced under specific conditions. BOPE film is made of polyethylene (PE) resin with a special molecular structure and is a high-performance film material produced by a flat film biaxial stretching process. The product features are good heat seal strength, high puncture strength, high wear resistance, and high tensile strength. BOPE film is easier to recycle and can be used in food packaging, agricultural packaging, tote bags, pet food packaging, etc.

Market Overview:

The latest research study on the global BOPE Film market finds that the global BOPE Film market reached a value of USD 29.46 million in 2022. It’s expected that the market will achieve USD 472.17 million by 2028, exhibiting a CAGR of 58.79% during the forecast period.

Downside risks to the economy

The COVID-19 pandemic has had a severe negative impact on the global economy. According to the International Monetary Fund, the global economy contracted by 3.5% in 2020. At the same time, the pandemic has triggered health and fiscal responsibilities with unprecedented speed and scale. Globally, fiscal support in 2020 will amount to almost $16 trillion (about 15% of the global GDP). Central banks in many countries have slashed interest rates. In theory, this would lower borrowing costs and encourage consumers to boost the economy. In 2021, as countries began to reopen and vaccines came out, the global economy began to recover, but it was still below the level of development before the epidemic, and there were imbalances between countries and regions.
The COVID-19 pandemic has impacted different sectors and industries differently. The tourism and hospitality industries have been severely disrupted, with airlines cutting flights and customers canceling business trips and holidays. Large numbers of workers are placed on government-backed job retention schemes. New virus variants have forced many countries to impose stricter travel restrictions. Large economies reliant on services that have been hit hard by the outbreak, such as Britain or Italy, are expected to recover slowly. On the other hand, e-commerce is booming as more people choose to purchase goods online, retailers are forced to close stores, and consumers are forced to stay at home. For example, Amazon's net sales revenue set new records in both 2020 and 2021.

Own advantage

BOPE film has many advantages. The product characteristics of BOPE film include good heat seal strength, high puncture strength, high abrasion resistance, and high tensile strength. Compared with PE film, BOPE film is 50% thinner, has higher gloss, lower cost, and has higher tensile strength and better impact strength. BOPE film is an excellent alternative to BOPP and CPP for cast packaging and VFFS products. It performs similarly to these traditional products but is more widely recyclable. And BOPE film can be printed directly on the surface of the film or on the reverse side to maximize the visual effect and material performance. BOPE films also have a low coefficient of friction, making them ideal for automated packaging applications. Its web strength and flatness mean it can be quickly laminated and form fills seal. Compared with blown PE, BOPE has great downgauging potential. Reducing packaging weight is a top priority for any brand owner, especially without compromising packaging performance, and in some cases, sealant layers and abuse layers in laminate structures can be reduced by 55%. BOPE film production also benefits from the idle capacity of existing BOPP film manufacturing equipment. Therefore, as BOPE films are known to more people, the market demand for BOPE films continues to increase.

Environmental advantages

Affordable and 100% recyclable, BOPE films are gaining popularity due to their environmental friendliness. Due to the significant environmental benefits (consumption of coal and crude oil, and reduction in CO2 emissions) arising from the use of flexible packaging instead of rigid packaging, the market is driven by environmental regulations, opening the way for flexible packaging requirements. The reason BOPE plastic is easier to recycle is that it is made from a single polyethylene. In an era of a global push to simplify construction, this groundbreaking single material is preferable to the use of mixed-material products and laminates that are difficult to recycle. The recycling infrastructure that currently exists in developed countries is not sophisticated enough to easily and cost-effectively separate the finely bonded materials that are molded together in traditional plastics. BOPE, as a single polymer, can be classified as 100% mechanically recyclable, meaning it can be recycled along with the bag in big box stores and supermarkets. Recycling BOPE plastic packaging helps reduce people's dependence on finite petrochemical resources, reduces waste, and prevents plastic pollution. When the thickness is reduced by 30% to 60%, the mechanical properties of BOPE film are still better than blown film, which can meet the needs of users, so that it can effectively reduce the use of resources and energy consumption of packaging materials, reduce transportation costs and carbon footprint. Therefore, BOPE film has a more balanced comprehensive performance and great environmental protection advantages.

Increased demand in the food industry

The growing food and beverage industry is one of the key factors creating a positive outlook for the BOPE film market. Food packaging will remain the largest application market due to growing demand for various packaged food products such as confectionery, biscuits, bread, and snacks. Growth in food and beverage e-commerce, improving economic climate, and increasing disposable income have led to increased consumption of packaged items, which requires packaging to protect goods from contamination and damage. BOPE films are used in the manufacture of bags, laminates, labels, and tapes. These products are then used to package fresh produce, meat, fish, confectionery, and dairy products. To extend the shelf life of meat and fresh fish products, BOPE film is used for its excellent heat resistance, high-temperature barrier, and sealing properties. In addition, the widespread adoption of flexible packaging for ready-to-eat foods, dairy products, and other beverages such as coffee-infused beverages, carbonated sodas, and drink mixes is also contributing to market growth. Flexible packaging is critical to reducing beverage and product waste and enables online retailers to enhance the e-commerce experience through enhanced packaging. Due to its limited thickness distribution, BOPE films are excellent at maintaining seal integrity. The increase in the output of dairy products drives the steady expansion of the BOPE film market. The upgrade of consumption structure has prompted consumers to prefer flexible packaging that can significantly maintain the integrity of natural and clean-label products. BOPE film is a widely used packaging type in the beverage industry due to its healthy properties and cheap cost structure. Therefore, as a barrier film substrate for food packaging, BOPE films are considered the best choice, they have built-in moisture resistance, are sealable, have high transparency, and can reproduce graphics and shelf appearance. The large demand in the food industry has promoted the rapid development of the BOPE industry.

Region Overview:

In 2022, the share of the BOPE Film market in China stood at 52.79%.

Company Overview:

The major players operating in the BOPE Film market include NOVA Chemicals, Jindal Films, Plastchim-T, Guangdong Weifu Packaging Materials Co., Ltd., Guangdong Deguan Film New Material Co., Ltd., etc. Among which, NOVA Chemicals ranked top in terms of sales and revenue in 2023.

NOVA Chemicals

NOVA Chemicals is guided by a singular purpose to shape a world where plastic products vital to our health and happiness are better tomorrow than they are today. We have a bold ambition to create a plastics circular economy and work collaboratively toward a low-carbon, zero-plastic waste future.

Jindal Films

Jindal Films is a global leader in the development and manufacture of specialty films with almost 50 years of expertise in flexible packaging and labeling markets. Within Flexible Packaging, Jindal Films provides films that lead the market in terms of barrier to moisture, oxygen, and flavor & aroma. Our barrier technology is available in our range of Bicor™, Metallyte™, and Oppalyte™ films. Jindal Films also offers BOPE films for mono-material recyclable packaging with a range of films under the Ethy-Lyte™ and SealTOUGH™ brands.

Segmentation Overview:

By type, Thickness: Below 30 µm segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Food Packaging segment occupied the biggest share from 2018 to 2022.

Key Companies in the global BOPE Film market covered in Chapter 3:

Plastchim-T
Guangdong Deguan Film New Material Co., Ltd.
Jindal Films
NOVA Chemicals
Guangdong Weifu Packaging Materials Co., Ltd.
Fosu Technology Co., Ltd.
Mitsui Chemicals Tocello, Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the BOPE Film market from 2018 to 2029 is primarily split into:

Thickness: Below 30 µm
Thickness: 30-50 µm
Thickness: Above 50 µm

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the BOPE Film market from 2018 to 2029 covers:

Food Packaging
Agricultural
Carrier Bags
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)