The fundamental driver of development in the worldwide BOPP film market has been the interest for flexible packaging, especially in China and South East Asia, as per Wood Mackenzie’s most recent ‘BOPP Film Global Supply Demand Report’.
The BOPP film industry and market is at present very much provided, ruled by China and the developing impact of Indian-claimed makers who keep on extending their tasks. Worldwide interest for BOPP film is relied upon to develop at a sound pace of 4.7% p.a. throughout the following five years to 2023. Conjecture development in Asia is relied upon to be fundamentally higher, especially in China and India where Wood Mackenzie hopes to see development of 6.3% p.a. also, 9.4% p.a., individually.
The issue of reusing and sustainability has, in specific applications, favored BOPP over other polymer films. Worldwide brands are hoping to film makers and converters to give mono-material plastic bundling answers for meet supportability duties.
“Global BOPP film demand continues to see healthy growth despite the backlash against plastic packaging. In fact, the issue of recycling and sustainability has created a favourable set of circumstances for the BOPP film sector. As part of a circular economy, brands are being pressured to find more environmentally-friendly ways of packaging their products. This has caused a shift in focus from multi-material and multi-layer laminates, which are currently non-recyclable, to mono-material laminates.
“The fact that BOPP film is part of the wider polyolefin chemical family means it can be laminated, with polyethylene film for example, and still be widely accepted in today’s recycling waste stream. Our research indicates that, in certain applications, the consumption of BOPP film has benefitted from this sustainability drive at the expense of other polymers,” said Robert Gilfillan, Wood Mackenzie Head of Films and Flexibles.
Flexible packaging will keep on being the key end-use part for BOPP film. The requirement for straightforward ware film, which is regularly utilized in nourishment bundling, is relied upon to drive future interest. With a positive transient standpoint, venture openings inside the area are winding up increasingly appealing.
“Earlier this year, we saw another significant M&A deal take place. Taghleef Industries completed its acquisition of Biofilm, the second largest BOPP film producer in Latin America. This has strengthened the company’s position in the Central & South American region. Additionally, Taghleef Industries has now climbed into the list of top five global players, by installed nameplate capacity,” Gilfillan included.