New York, July 13, 2023 (GLOBE NEWSWIRE) -- The global biaxially oriented polyamide films market size is projected to expand at ~7% CAGR between 2023 and 2035. The market is expected to garner a revenue of USD 6 billion by the end of 2035, up from a revenue of ~USD 4 billion in the year 2022.The radically prospering global cosmetic industry as well as the increasing development of sustainable packaging solutions for personal care products & skincare items are responsible for market growth during the forecast period. Another factor is the growing adoption of innovative packaging in the cosmetic industry that combines creative designs while minimizing their environmental carbon footprint through the reduction of packaging waste with the use of recyclable and reusable polyamide materials, and this is expected to escalate market growth.
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It is projected that skincare, one of the most profitable product categories on the cosmetic market, will generate revenues of nearly USD 188 billion in 2026. Furthermore, the growing application of BOPA film as a lithium-ion battery packaging material, its wider use for retort applications, and its increasing suitability as a top transpiration barrier in high-performance insulation and roofing systems are expected to further boost market growth.
Biaxially Oriented Polyamide (BOPA) Films Market: Key Takeaways
- Market in North America to propel the highest growth
- Food Packaging segment to garner the highest growth
- Market in Asia Pacific to grow at the highest rate
Growing Food Industry and Rising Packaged Food Culture to Drive Market Growth
The growth of the market can be primarily attributed to the radically growing food industry as well as the heightening demand for meal-ready-to-eat products and the increasing shipment of frozen foods, along with the surging demand for biaxially oriented polyamide (BOPA) films as flexible packaging materials, besides the rising demand for hygiene packaging to safeguard the flavor and quality of all kinds of foods and beverages. As per the findings, global sales of packaged food, which amounted to some USD 2.40 trillion in 2016, reached nearly USD 2.70 trillion in 2019. Moreover, commercial nylon film generally comprises biaxially oriented film (BOPA), cast mono-film, and multi-layer co-extruded films. Out of these, BOPA is the most important polyamide film and is an excellent choice for demanding packaging applications. The BOPA film density as well as its biaxial orientation result in greater stiffness, higher tensile strength, lower elongation, higher oxygen barrier, aroma barrier, abrasion resistance, and resistance to flex-cracks compared to non-oriented cast PA film, making it an ideal solution in all converting processes such as printing, lamination, and coating products. Owing to all these properties, the BOPA market is anticipated to flourish positively over the forecast period.
Biaxially Oriented Polyamide (BOPA) Film Market: Regional Overview
The market is further segmented into the following five major regions including North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa region.
Expanding Food Processing Industry to Drive Growth in the North America Region
The biaxially oriented polyamide films market in the North American region is estimated to garner the largest revenue by the end of 2035. The growth of the market in the region can be largely attributed to the rapidly expanding food manufacturing, food processing, foodservice, and food industry in the region. The food industry in the United States was estimated to be worth more than USD 1.5 trillion in 2022.Moreover, the speedy expansion of the food and beverage industry in the region, together with the augmenting demand for specialized packaging to prevent food items from oxidation, microbial attack, and moisture and provide a longer shelf life, is further expected to boost the regional market growth. According to the statistics, the food and beverage industry in the U.S. economy accounted for more than 4% of the GDP in 2022. Moreover, as per the data unveiled by the United States Environmental Protection Agency (EPA), ~14.5 million tons of packaging and plastic containers were manufactured in the USA in 2018 alone.
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A Growing Number of Pharmaceutical Companies to Drive Asia Pacific Growth
The biaxially oriented polyamide films market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035. The rising prevalence of pharma companies, as well as growing investments for research & development in the field of biopharma, along with the upward momentum of South Asia’s "pharmerging" markets, together with dynamic development in biomedical science (BMS) and medical technology in the region; the augmenting demand for thermoforming film, cold-forming film, and other packaging technology to produce next-generation pharmaceutical packaging; and the augmenting medical sector are predicted to boost the existence of BOPA film manufacturers in the region, resulting in the growth of the regional biaxially oriented polyamide films market in the upcoming years. It was found that the Chinese pharmaceutical industry's valuation reached nearly USD 85 billion in 2018, whereas the valuation of Japan's pharmaceutical industry amounted to approximately USD 77 billion in the same year.
Biaxially Oriented Polyamide (BOPA) Films Segmentation by Application
- Food Packaging
- Pharmaceutical Packaging
- Electronics
- Household
- Chemical & Industrial
- Others
The food packaging segment is anticipated to hold the largest revenue by the end of 2035. The growth of the segment can be attributed to the radically increasing internal and international trade as well as the rapidly growing packaging industry worldwide owing to the burgeoning demand for packaging by several end-use industries, especially in the food industry for packing perishable goods such as vegetables, frozen and prepared foods, agricultural, and aquatic items together with the utilization of heat-shrinkable grade BOPA films that are highly suited for the packaging of perishable foods such as cheese, sausages, and pizza. In 2020, the packaging industry was estimated to be worth more than USD 769 billion. Moreover, packaging food is in trend with the changing lifestyle as well as the rising GDP per capita along with the increasing disposable income of the populace worldwide, which has resulted in the demand for flexible packaging as well as specialty packaging and is expected to further boost the segment growth.
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Biaxially Oriented Polyamide (BOPA) Film Segmentation by Type
- Sequential Stretching
- Mechanical Simultaneous Stretching
- LISIM Simultaneous
The sequential stretching segment is anticipated to hold the largest revenue by the end of 2035. Factors influencing segment growth include increased plastic production worldwide, as well as increased use of polyvinyl chloride (PVC) and bi-axially oriented polyamide (BOPA), known as BON - films, in the cold-formed pharmaceutical packaging industry, as well as medical supplies and electrical products. For instance, almost 400 million metric tons of plastic were produced globally in 2021. Moreover, sequential stretching is the most common process that is used in the production of BOPTFE, BOPS, BOPLA, BOPET, BOPA, and others, as it is a quite cost-effective processing method. Furthermore, BOPA films manufactured using 2-step sequential tenter frame production technology provide excellent flexibility and durability for packaging while outperforming barrier properties and mechanical strength.
Biaxially Oriented Polyamide (BOPA) Films Segmentation by Function
- Safety
- Barrier
- Microporous
- Others
A few of the well-known market leaders in the biaxially oriented polyamide films market that are profiled by Research Nester are Mitsubishi Chemical Holdings Corporation, AdvanSix Inc., Unitika Ltd., Sojitz Corporation, Mondi plc, Now Plastics Inc., Toray Industries, Inc., Drytac Corporation, Transcendia, Inc., Toyobo Co., Ltd., and other key market players.
Recent Development in the Biaxially Oriented Polyamide (BOPA) Films Market
- Mondi plc, a leader in paper and packaging, launched Retort Pouch Recyclable. It’s an innovative high-barrier film mono-material solution that will replace aluminum with a fully recyclable retort pouch solution.
- Mitsubishi Chemical Holdings Corporation, the largest chemical corporation based in Japan acquired Gelest, Inc. from New Mountain Capital, LLC, making it an exclusively owned subsidiary of Mitsubishi Chemical America. Gelest’s acquisition will facilitate advanced management and a growing customer pool of the former company.
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