BOPET Packaging Films Market Study: Escalating Applicability in Food, Tobacco, and Tapes & Labels Packaging Prompt Spiralling Sales21 June 2019
Future Market Insights delivers vital insights on the BOPET packaging films market, in its published report titled, 'BOPET Packaging Films Market: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2029'.
In terms of revenue, the global BOPET packaging films market is projected to expand at a CAGR over 5% during the forecast period, owing to numerous factors, regarding which, FMI offers thorough insights and forecasts in this report.
The global BOPET packaging films market has been segmented on the basis of thickness, applications, and end-use industries. The global BOPET packaging films market is expected to expand 1.8 times in terms of market volume by the end of 2029.
BOPET Films Gaining Ground in High-quality Graphic Packaging Applications
BOPET packaging films are oriented films, predominantly used in the packaging of products in various end-use industries such as food & beverages, electrical & electronics, pharmaceuticals, and cosmetic & personal care products, among others. BOPET packaging films cater to a wide range of applications. These films can be used for manufacturing bags & pouches, wraps, laminates, labels & tapes. Food remains the most prominent end-use industry for BOPET packaging films. Packaging of fresh produce, meat, confectionery, and dairy products all use BOPET packaging films. BOPET packaging films remain stable through printing and laminating processes. This makes them desirable for high-quality graphic packaging applications.
Competition in Asia’s BOPET Films Market Pacing
Geographically, East Asia holds more than one-fourth of the global BOPET packaging films market and is expected to maintain its prominence in the global market. China is one of the leading producers & consumers of BOPET packaging films and accounts for more than one fifth of the global market. Among the South Asian countries, India has emerged as one of the key markets for BOPET packaging films.
Key players in the Asian market such as Jindal Poly Films, Uflex, Polyplex Corporation, and others are expanding their production capacities to keep pace with the global demand. Owing to the presence of several organised and unorganised players, the Asian BOPET packaging films market has emerged as a highly competitive market and is expected to expand at a substantial rate during the forecast period.
Despite being a matured market, Europe represents a significant incremental opportunity for the BOPET packaging films market. This can be attributed to the growing demand for packaged & processed food in the region. Excellent sealing properties and heat resistance, make BOPET packaging films a preferred choice for manufacturing labels & tapes.