Biaxially Oriented Polyamide Films Market Set Strong Expansion, To Hit US$ 3,763.31 Mn By 2030

New York, June 16, 2023 (GLOBE NEWSWIRE) -- The global Biaxially Oriented Polyamide Films Market is expected to witness significant growth at a CAGR of 5.3% during the forecast period of 2023-2030. This growth is attributed to the rising demand for convenient and lightweight flexible packaging solutions.

According to a recent report by Consegic Business Intelligence, the biaxially oriented polyamide films market is poised for strong expansion and is expected to reach USD 3,763.31 million by 2030 which was valued at USD 2,496.32 million in 2022, the market is predicted to grow at a compound annual growth rate of 5.3% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the biaxially oriented polyamide films market.

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Biaxially oriented polyamide films are manufactured through a specialized biaxial orientation process that imparts unique properties, making them highly desirable for various packaging applications. These films offer outstanding oxygen and moisture barrier properties, preserving the freshness, flavor, and integrity of perishable food items and pharmaceutical products.

Biaxially oriented polyamide films have excellent puncture resistance and toughness that offers reliable protection against physical damage during storage, handling, and transportation, ensuring the safety and quality of packaged goods. Further, such films are commercialized as versatile packaging material widely used in various industries such as food & beverage, household products, pharmaceuticals, and electronics, among others.

Global Biaxially Oriented Polyamide Films Market: Report Attributes

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Global Biaxially Oriented Polyamide Films Market Segmentation Details:

Based on Type, in 2022, the specialty film segment is expected to grow at the fastest CAGR over the forecast period in the biaxially oriented polyamide films market. Specialty films are used to enhance the performance of the films in terms of strength, barrier properties, and durability. Such types of films offer excellent tensile strength, tear resistance, and dimensional stability making them ideal for use in various end-use industries such as food & beverages, pharmaceuticals, personal care, and cosmetics, among others.

Based on technology, in 2022, the simultaneous films segment contributed the largest market share in the biaxially oriented polyamide films market. Simultaneous film method is used to produce multilayer films in a single step. Such type of method offers greater flexibility and a high production rate. Further, simultaneous film process is relatively cost-effective as compared to other methods which is a key factor driving the growth of the segment.

Based on Application, in 2022, the packaging segment contributed the largest market share in the biaxially oriented polyamide films market owing to the widespread use of BOPA films in the packaging of food, confectionary, pharmaceutical, personal care products, tobacco, and others. BOPA films do not impart any odor, taste, or harmful substances to the packaged items, ensuring that the packaged products remain safe and uncontaminated. 

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Further, BOPA films offer exceptional barrier properties, including excellent oxygen and moisture resistance. Such properties make them highly suitable for packaging perishable food products, as they help to preserve freshness, extend shelf life, and maintain the quality of packaged food items. Hence, the above-mentioned factors are driving the growth of the biaxially oriented polyamide films market.

Based on Region, in 2022, North America is anticipated to grow at the fastest CAGR over the forecast period driven by increasing investment in the development of pharmaceutical industries particularly in the U.S. Biaxially oriented polyamide films are widely used in pharmaceutical packaging as these films are chemically inert and compatible with various drug formulations. They do not interact with or leach harmful substances into pharmaceutical products, ensuring the safety and effectiveness of the medications. This compatibility makes biaxially oriented polyamide films a preferred choice for packaging a wide range of pharmaceutical formulations, including solid oral dosage forms, powders, capsules, and liquid medications. Hence, the rising investment in the development of pharmaceutical industries is increasing the growth of the biaxially oriented polyamide films market.

Competitive Landscape

As per the research, Unitika Ltd., TPL Transparent Paper Ltd., and Mitsubishi Chemical Corporation are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the biaxially oriented polyamide films market is expected to grow steadily due to the increasing investment in the pharmaceutical sector. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.

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Recent Developments

• In May 2021, Mitsubishi Chemical Corporation announced the acquisition of all the shares of Nakai Industrial Co., Ltd., a film coating manufacturer to fulfill the demands of a wide range of customers through technology, human resources, and processing facilities possessed by Nakai Industrial.

List of Major Global Biaxially Oriented Polyamide Films Market:

• Unitika Ltd.
• TPL Transparent Paper Ltd.
• Mitsubishi Chemical Corporation
• Felizplastic
• TOYOBO Co., Ltd.
• DOMO Chemicals
• Biaxis Oy Ltd.
• Sojitz Plastics America Inc.
• AdvanSix
• JK Materials Co., Ltd.  

Global Biaxially Oriented Polyamide Films Market Segmentation: 

• By Type
  • Specialty Films
  • Plain Films
• By Technology
  • Sequential Films
  • Simultaneous Films
  • Blown Films
  • Others
• By Application
  • Packaging
    • Food
    • Confectionary
    • Pharmaceutical
    • Personal Care Products
    • Tobacco
    • Others
  • Labelling
  • Tapes
  • Laminations

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Frequently Asked Questions in the Biaxially Oriented Polyamide Films Market Report

• What was the market size of biaxially oriented polyamide films in 2022?

- In 2022, the market size of biaxially oriented polyamide films was USD 2,496.32 million.

• What will be the potential market valuation for biaxially oriented polyamide films by 2030?

- In 2030, the market size of biaxially oriented polyamide films will be expected to reach USD 3,763.31 million.

• What is the key restraint hampering the growth of the biaxially oriented polyamide films market?

- Growing usage of alternative materials is a key factor likely to hinder market growth.

• What is the dominating segment in the biaxially oriented polyamide films market, by application?

- In 2022, the packaging segment accounted for the highest market share in the overall biaxially oriented polyamide films market.

• Based on current market trends, which geographical region contributed the largest share of the market?

- Asia Pacific contributed to the largest market share in the biaxially oriented polyamide films market.

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