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Bi-oriented polypropylene (BOPP) films are continuing to experience global demand with an average CAGR of 6.2%, which is nearly twice the average GDP growth. A significant factor is the increase in emerging markets such as China and India, as well as new markets like Vietnam and Myanmar which have seen rapid development in their own flexible packaging industries.According to PCI Films Consulting’s latest review of global BOPP film market trends, these other factors have also contributed to the BOPP film markets growth:
Kari Embree
May 21, 2015
1 Min Read
.svg?width=850&auto=webp&quality=95&format=jpg&disable=upscale "BOPP film market up 7.4 million tonne over GDP")
Bi-oriented polypropylene (BOPP) films are continuing to experience global demand with an average CAGR of 6.2%, which is nearly twice the average GDP growth. A significant factor is the increase in emerging markets such as China and India, as well as new markets like Vietnam and Myanmar which have seen rapid development in their own flexible packaging industries.
According to PCI Films Consulting’s latest review of global BOPP film market trends, these other factors have also contributed to the BOPP film markets growth:
Greater sales of packaged food, moved by the increase in several food retailing and higher personal disposable incomes.
Growth in convenience foods packaged in BOPP films such as fruit and vegetables, salads, snacks and confectionery.
Changeover of other flexible packaging materials such as BOPET, BOPA and other specialty films, specialty coated and label papers and aluminum foils.
Investment in new converting and packaging equipment allowing BOPP film to be used in more applications.
Environmental legislation which has pressed rigid packaging formats towards flexible packaging.
On top of this global growth, there has been an lots of activity on the M&A home front with numerous business dealings: Jindal Poly Films’ purchase of ExxonMobil’s European and US BOPP film assets; Taghleef Industries purchase of the Spanish specialty producer Derprosa; Biaxplen’s consolidation in the Russian industry; and Amtopp’s purchase of the Vifan and Uniscite facilities in North America.
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