Content Source – Koncept Analytics
The global BOPET film market is expected to record a value of US$24.84 billion in 2024, growing at a CAGR of 6.83%, during 2020-2024. The factors such as rising demand for plastic packaging, accelerating manufacturing of electronic products, growth in digital printing, increasing retail sales of food and grocery, expansion of pharmaceutical industry and rapid urbanization are expected to drive the market growth. However, the growth of the market would be challenged by the heavy production cost of BOPET film and high prices of BOPET film. A few notable trends may include rising production capacity of flat panel display, rising growth of cosmetic products, development of biodegradable and water soluble films and rising awareness about the BOPET films.
The global BOPET film market is evolving rapidly over vast rates every year, owing to the continuous increase in its market demand. BOPET film has become a crucial component of every end-use sector due to the presence of versatile qualities. The BOPET striking features such as product quality, shelf life extension, high tensile strength and high durability make it an ideal product for packaging. The enormous application in packaging industry is the major reason for the BOPET film industry growth.
The fastest growing regional market was Asia-Pacific, due to the rapid urbanization, particularly in China and India. Rapid urbanization has led to the continuous changes in people’s lifestyles. Urban people have adopted a modern way of living, which contributed to the increase in BOPET film consumption as a premium product for various household purposes, including packaging. Therefore, Asia-Pacific has witnessed a modest growth in BOPET film market, which is further expected to contribute considerably to the global BOPET film market in coming years.
Scope of the report:
The report provides a comprehensive analysis of the global Biaxially Oriented Polyethylene Terephthalate (BOPET) film market.
The major regional and country markets (Asia-Pacific, Americas, Europe and ROW), along with the country coverage of China, India and North America have been analyzed.
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (Toray Industries, Kolon Industries, Polyplex Corporation, Uflex Ltd., Jindal Poly Film Ltd. and Essel Propack) are also presented in detail.
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