BOPA films market To Expand at 10% CAGR up to 2024 | key players are Mitsubishi Chemical Corporation, Kuraray Co. Ltd., Domo Group, NOW Plastics, GUNZE Limited, AEC Group, Transparent Paper Ltd.

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.

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.

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BOPA films market 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.

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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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 market 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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