Research Nester published a report titled “Biaxially Oriented Polyamide (BOPA) Films Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global biaxially oriented polyamide (BOPA) filmsmarket in terms of market segmentation by type, function, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global biaxially oriented polyamide (BOPA) films marketis anticipated to grow with a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. The market is segmented by application into food packaging, packaging, pharmaceutical packaging, electronics, household, chemical & industrial, and others. Amongst these, the packaging segment isestimated to grow at a higher rate over the forecast period backed by the increase in several e-commerce platforms, and growing inclination of people to migrate towards cities to live an urban life.
The global biaxially oriented polyamide (BOPA) films marketis projected to significantly grow owing to the increasing consumption of sea food, followed by the rise in packaged food intake that require a specific kind of packaging material so that the food stay fresh for hours. Besides this, remarkable growth in pharmaceutical industry, and prominent expansion in chemical industry are some of the major factors anticipated to drive the growth of the market in the coming years.
Regionally, the global biaxially oriented polyamide (BOPA) films market is segmented into five major regions comprising of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the North America region is estimated to witness significant growth over the forecast period owing to the massive escalation in food and beverage industry in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Massive Increase in Packaged Food Intake to Drive the Market Growth
The global consumption of ultra-processed foods has increased dramatically. These foods now account for 26-62% of a person’s daily energy needs in many parts of the world.
The pandemic has had a significant impact on peoples’ lifestyles and purchasing habits. In lockdown, people began to rush to buy, which increased the demand for packaged food items. Customers’ preference for hygienic, natural and healthy foods has induced packaged food companies to diversify their product lines. As a result, demand for packaged food items such as ready-to-eat food, frozen food, and intermediary food items increased throughoutthe lockdown.
However, easy accessibility of the alternatives of BOPA films, existence of high activated substances, and strict governmental regulations are expected to operate as key restraint to the growth of global biaxially oriented polyamide (BOPA) films marketover the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global biaxially oriented polyamide (BOPA) films marketwhich includes company profiling of Mondi plc, AdvanSix Inc., Unitika Ltd., Now Plastics, Sojitz Corporation, Mitsubishi Chemical Corporation, Toray Industries, Inc., Drytac, Toyobo Co., Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global biaxially oriented polyamide (BOPA) films marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.