Global Biaxially Oriented Polypropylene (BOPP) Films Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Biaxially Oriented Polypropylene (BOPP) Films Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Biaxially oriented polypropylene film (BOPP) refers to a film made by biaxially stretching polypropylene as the main raw material. BOPP film is an important product in the packaging field. It has the advantages of light weight, transparency, non-toxicity, moisture resistance, low air permeability, and high mechanical strength. It is widely used in the packaging of food, medicine, daily light industry, cigarettes, etc. Used as a substrate for composite membranes.

Market Overview:

The latest research study on the global Biaxially Oriented Polypropylene (BOPP) Films market finds that the global Biaxially Oriented Polypropylene (BOPP) Films market reached a value of USD 16945.69 million in 2022. It’s expected that the market will achieve USD 21949.08 million by 2028, exhibiting a CAGR of 4.41% during the forecast period.

Impact of COVID-19 on Global Biaxially Oriented Polypropylene (BOPP) Film Industry

Affected by the superimposition of macro factors such as the impact of the new crown epidemic, trade policy changes, and energy structure transformation, the favorable situation of the global economy for decades has been rapidly reversed, and the complex international situation has also brought impacts on regional and global trade balances. Since 2022, the European region has been affected by geopolitical conflicts, and the economic climate has declined sharply, and has not improved significantly; in the United States, greater inflation pressure has prompted the Federal Reserve to raise interest rates, and the overall weakening of external demand has caused China's chemical products Export growth continued to decline. However, the repeated and frequent occurrence of

Omicron on a global scale has slowed the recovery of the overseas supply side, thereby promoting the cumulative value of the export value of China's chemical industry and related industries to reach the highest level in the same period in recent years. It is expected that for some time in the future, as the European Union's energy plan for Russia takes effect, the energy shortage in Europe may further increase the price difference between some chemical products in China and Europe, combined with factors such as the decline in sea freight, domestic chemical products will have a strong cost advantage; at the same time, Some chemical products with excess domestic production capacity urgently need to expand overseas markets to digest inventory. However, high inflation and successive interest rate hikes by global central banks have led to rising expectations of economic recession. The European and American economies are at risk of a weak recession, and the demand for chemical products may weaken. In addition, due to the repeated impact of the previous epidemic, some foreign-funded enterprises in the chemical product industry chain have withdrawn. Exporting to the Chinese market also has a greater impact on the export of related products.

In 2022, the world economy will be hit hard by a series of severe, interacting shocks, including the new crown epidemic, the war in Ukraine and its resulting food and energy crises, soaring inflation, tightening debt, and the climate emergency. The growth momentum of developed economies such as the United States and the European Union has weakened significantly, and other economies in the world have suffered multiple adverse effects as a result. Repeated coronavirus-related lockdowns and prolonged pressures in the property market have slowed China's economic recovery. In this context, according to the April 2023 data of the International Monetary Fund, the global economic growth rate will drop from 3.4% in 2022 to 2.8% in 2023. In 2024, as some unfavorable factors will begin to weaken, the global economic growth is expected to pick up moderately. Much, though, will depend on the pace and sequence of continued monetary tightening, the course and aftermath of the war in Ukraine, and the potential for further supply chain disruptions.

Consumption upgrade drives up demand for plastic flexible packaging

The plastic packaging industry is a global sustainable development industry. Due to its multiple functions such as protecting commodities, facilitating circulation, facilitating consumption, promoting sales and increasing added value, packaging products have been more and more widely used in modern society and have become an important part of commodity circulation. Indispensable component. Plastic packaging plays an irreplaceable role in various fields. The upgrading of consumption and the rapid development of the consumer goods industry drive the development of the entire plastic packaging industry. BOPP film is one of the most widely used plastic films at present. It has the reputation of

Packaging Queen and is widely used in the field of flexible packaging. Biaxially oriented polypropylene (BOPP) films are widely used in consumer electronics, food and beverage, tobacco and wine, medicine, cosmetics, clothing, toys and other industries and fast-moving consumer goods such as product packaging. The steady development of the flexible packaging industry drives the development of the BOPP film industry.

The field of application continues to expand

With the continuous improvement of the technical level of the film industry, the terminal application fields of BOPP films have gradually shifted from food and beverage, adhesive tape, clothing, consumer electronics, daily chemical products, tobacco and other fields to medicine, electronics, laser anti-counterfeiting, electrical insulation, semiconductor and microelectronics. The extension of high-tech fields such as electronic applications, these application fields belong to the strategic emerging industries that various countries focus on development or important industries related to the national economy and people's livelihood, and are flourishing under the support and encouragement of policies. With the continuous development of functional films and the development of high-end film products, the application fields will continue to expand, providing a broader market space for the application of BOPP films.

The development of e-commerce industry

The penetration of e-commerce has accelerated under the catalysis of the epidemic, and the global e-commerce and logistics industries have developed rapidly. According to data released by Statista, in 2021, global retail e-commerce sales will be about 5.2 trillion US dollars, and this figure is expected to grow by 56% in the next few years, reaching about 8.1 trillion US dollars by 2026, of which Amazon and Ali Baba is the world's two largest e-commerce retailers. The emerging e-commerce market will be centered in Asia, based on the fact that the fastest-growing e-commerce countries in online sales are the Philippines and India, and e-commerce sales are expected to grow by more than 25%. By country, China is the largest e-commerce market in the world. The Ministry of Commerce of China released the

China E-Commerce Report (2021), which pointed out that in 2021, the national e-commerce transaction volume will reach 42.3 trillion yuan, a year-on-year increase of 19.6%; online retail sales will reach 13.1 trillion yuan, a year-on-year increase of 14.1%; The online retail sales of goods reached 10.8 trillion yuan, accounting for 24.5% of the total retail sales of social consumer goods; the import and export volume of cross-border e-commerce reached 1.92 trillion yuan, an increase of nearly 10 times in five years. Innovations in business models such as live broadcast e-commerce and instant retail continue to stimulate consumption vitality. New-generation information technologies such as big data, the Internet of Things, and artificial intelligence are widely used in the field of e-commerce, and are integrated with manufacturing, agriculture, and service industries. Industrial transformation and upgrading are constantly advancing to promote the development of the e-commerce industry. At the same time, the 14th Five-Year Plan for E-Commerce Development pointed out that by 2025, the transaction volume of e-commerce will reach 46 trillion yuan, and the national online retail sales will reach 17 trillion yuan; by 2035, e-commerce will become China's economic and technological strength. and an important driving force for a substantial leap in overall national strength. The rapid development of the e-commerce industry has greatly promoted the market demand of food, clothing and other consumer goods industries. At the same time, the rising demand of the terminal market has provided opportunities for the development of biaxially oriented polypropylene (BOPP) film packaging materials.

Region Overview:

The Asia Pacific biaxially oriented polypropylene (BOPP) film market share will be 55.41% in 2022.

Company Overview:

Furong New Materials Co., Ltd. is one of the major players in the biaxially oriented polypropylene (BOPP) film market with a 6.81% share in 2023.

Furong New Materials Co., Ltd.

Founded in 2010, Furong New Materials Co., Ltd. is a professional and international enterprise integrating R&D, production and sales of polymer films. Furong New Materials Co., Ltd. has five production bases in Fuqing, Fujian, Nantong, Jiangsu, Zhaoqing, Guangdong, Weifang, Shandong, and Chengdu, Sichuan, and has offices in Shanghai and Guangzhou. Advanced BOPP, BOPE production line.

Anhui Jintian High-tech Materials Co., Ltd.

Anhui Jintian High-tech Materials Co., Ltd. is a large-scale private joint-stock enterprise mainly engaged in the research and development, production and sales of BOPP and other plastic films. differentiated needs. Products are widely used in food, daily chemical, industrial, consumer goods and pharmaceutical fields, and it is a well-known enterprise in the world's BOPP film industry.

Segmentation Overview:

By type, the general membrane segment holds the largest market share in 2022.

Application Overview:

By application, the largest segment of the market is the food segment with a market share of 36.61% by 2022.

Key Companies in the global Biaxially Oriented Polypropylene (BOPP) Films market covered in Chapter 3:

FlexFilm
Vibac
CCL Industries
Hangzhou Xiaoshan Huayi Plastic Co., Ltd.
Furong New Materials Co., Ltd.
Cosmo Films
Anhui Jintian High-tech Materials Co., Ltd.
Stenta Films
Zhejiang Kaili New Material Co., Ltd.
Yem Chio
Toray
SIBUR
Anhui Guofeng New Material Co., Ltd.
BC JINDAL
Inteplast Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Biaxially Oriented Polypropylene (BOPP) Films market from 2018 to 2029 is primarily split into:

Heat sealing film
Label film
Matting film
Ordinary film
Capacitor film
Metallized film
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Biaxially Oriented Polypropylene (BOPP) Films market from 2018 to 2029 covers:

Food
Clothing
Medicine
Print
Tobacco and alcohol
Other

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)