Home > Polymers, Specialty Chemicals & Advanced Materials > Biaxially Oriented Polyamide (BOPA) Films Market
Global Biaxially Oriented Polyamide (BOPA) Films Market Size was estimated over USD 2 billion in 2016 and will exhibit growth by a CAGR of over 10% up to 2024.
The global biaxially oriented polyamide (BOPA) films market will be chiefly driven by the high demand for flexible packaging materials in the food & beverage industry. The product is a polyamide film that is stretched in two perpendicular directions to improve its overall strength and barrier properties. Due to their favorable characteristics, BOPA films are extensively used for packaging various products such as food, beverage, medical supplies, household goods, electronics, etc. The product exhibits excellent mechanical strength, resistance, and gas & aroma barrier properties making it an ideal material for use in food & beverage packaging.
The food processing industry is one of the largest manufacturing sectors in the U.S. accounting for almost a tenth of the entire manufacturing activities. In recent years the U.S. food processing industry has grown at a healthy rate and the key sectors in the industry include meat & dairy, seafood, fruit & vegetable, and specialty food processing. This upward trend in the U.S. food processing industry will result in higher demand for BOPA films in coming years. The overall food & beverage industry in the country has also been experiencing high growth with a CAGR of more than 10% to cross USD 10 billion in 2016. The Canadian food & beverage industry has also been flourishing at a fast rate mostly due to rising demand for processed food products. These trends in the North American region will be important growth enablers for the BOPA films market during the forecast timeframe.
|Market Size in 2016:||2 Billion (USD)|
|Forecast Period:||2017 to 2024|
|Forecast Period 2017 to 2024 CAGR:||10%|
|2024 Value Projection:||6 Billion (USD)|
|Historical Data for:||2013 to 2016|
|No. of Pages:||130|
|Tables, Charts & Figures:||163|
|Segments covered:||Product and Region|
|Pitfalls & Challenges:|
To get more details on this report: Request Free Sample PDF
The characteristic of the product that creates a major challenge for manufacturers as well as converters is its moisture absorbing tendency. BOPA films are hygroscopic in nature and their gas barrier properties deteriorate rapidly with moisture absorption. This increases the costs associated with the products manufacturing, handling, storage and transportation. These factors may hinder the BOPA films market growth in coming years as manufacturers and converters will opt for other cost-effective packaging materials to substitute the product.
Biaxially Oriented Polyamide (BOPA) Films Market, By Product
Based on product, the industry is segmented into plain and specialty BOPA films. Specialty product segment is further categorized into two-layered, three-layered, five-layered, seven-layered and other specialty BOPA films such as four-layered, nine-layered, etc. Plain BOPA films are not commonly used for packaging applications due to their hygroscopic characteristics. In 2016, plain BOPA films segment accounted for less than 10% of the overall industry share in terms of volume. The segment’s growth will be driven by its usage in packaging liquid soup, and for retort sterilized food products.
Specialty BOPA films is the major product segment which will grow with a CAGR of around 9% during the forecast timeframe. Laminating the product with other polymer materials enhances its barrier properties enabling its usage in a wide variety of packaging applications. Among the specialty product segment, two-layered and three-layered product types are the most widely used with a combined share of more than 60% of the overall specialty BOPA films industry volume in 2016.
Biaxially Oriented Polyamide (BOPA) Films Market, By Application
Based on application, the industry is segmented into food & beverage, medical & pharmaceutical, electronics and other applications such as balloons, household products, book laminations, etc. Food & beverage is the most significant application segment accounting for more than 70% of the overall market in 2016. This segment will grow by more than 11% CAGR during the forecast timeframe. High growth in the North American and Asia Pacific food & beverage packaging industry will drive this segments growth in coming years.
BOPA films are also used as a soft packaging material for packing electronic components such as lithium ion batteries, circuit boards, etc. This segment generated a revenue of around USD 240 million in 2016 and will grow with more than 10% CAGR during the forecast timeframe.
Biaxially Oriented Polyamide (BOPA) Films Market, By Region
North America is an important BOPA films market owing the flourishing U.S. food packaging industry. The regional market generated revenue exceeding USD 120 million in 2016 and will grow by a CAGR of around 10.5% during the forecast period. The North America BOPA films market share is low when compared to Europe and Asia Pacific due to the popularity of other barrier films. However, the region will experience increased product demand in coming years owing to rising domestic production capacity and increasing imports from other regions.
Europe is also a major BOPA films market accounting for more than 15% of the overall industry in 2016. The regional market will grow at a significant rate during the forecast period owing to a booming medical & pharmaceutical industry. The growing demand for high performance barrier films coupled with a large number of packaging film converters in the region will also propel the regional industry growth.
Competitive Market Share
Key manufacturers in the BOPA films market include AdvanSix, Unitika Ltd., Sojitz Corporation, Mitsubishi Chemical Corporation, Kunshan Yuncheng Plastic Industry Company, AMB Spa, Oben Holding Group, A.J. Plast Public Company, Cangzhou Mingzhu Plastic Company, Green Seal Holding Ltd., Triton International Enterprises, Kuraray Company, Domo Group, Impak Films U.S. LLC., NOW Plastics, GUNZE Limited, Thaipolyamide Company, AEC Group, Idemitsu Kosan Company, Transparent Paper Ltd., etc. The manufacturers are trying to enhance their competitive edge and market penetration by increasing their production capacities and setting up new manufacturing plants.
The product is a polyamide or nylon film that is stretched in vertical as well as horizontal direction. Sequential stretching, simultaneous stretching, and double or triple bubble technologies are used for stretching the films. Each of these stretching technologies have their own advantages and disadvantages. Due to the product’s hygroscopic property it is seldom used directly for packaging applications. It is instead laminated with other polymer materials to form multi-layered specialty BOPA films which are then used for packaging purposes. Since the product’s introduction in the late 1960’s in Japan, its popularity, mostly in the Asia Pacific region, has been increasing at a fast rate.