The Bi-oriented Polypropylene Market is to Touch $20.9 Billion by 2030; Increasing demand from flexible food packaging and Recyclability and the environmentally friendly trend propels market growth.

The Bi-oriented Polypropylene Market size is estimated to reach $20.9 Billion by 2030, growing at a CAGR of 4.5% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Bi-oriented Polypropylene Market – By Production Method (Tubular quench, Tenter, Flat film strength, and Others), By Application (Packaging, Metalized films, Laminated sheets, Coatings, Electronics, Adhesive tape backing, and Others), By End-Use Industry (Food and Beverage Industry [snacks packet, confectionaries, fresh food, meat, and Others], Packaging Industry [flexible packaging, rigid packaging], Electronics Industry [Cable insulation, Capacitors, and Others], Pharmaceutical Industry, Automotive Industry, And Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Expansion of sustainable & bio-based BOPP films and Technological advancements in specialty BOPP films are expected to create growth opportunities in the market during forecast period.

APAC accounted for the largest share of 35% of the Bi-oriented Polypropylene Market in 2023 followed by North America and Europe. The increased application of bi-oriented polypropylene for food, non-food, labels, electronics, automotive, and industrial packaging has led to major growth in this region. The demand for environment-friendly plastic in packaging, electronic manufacturing, pharmaceutical expansion, and others has boosted the bi-oriented polypropylene market share in the APAC region. 

The flexible packaging is driving the BOPP market, owing to its numerous applications in different end-users. The flexible films are used in bakery, pharmaceutical, dairy, meat, organic food, and others. The growth of flexible packaging in the food and beverage industry will lead to the high rise in the applicability of bi-oriented polypropylene to ensure flexibility, tear-resistance, moisture barrier, protection, and longer shelf life. According to the Census Bureau's Country Business Patterns (CBP), a total of 6040 food and beverage plants are there in California, with 2612 in New York and 2487 in Texas. The bi-oriented polypropylene films are thereby used in the food segment to provide seal integrity, flexibility, and excellent protection and boost the growth and demand for food and non-food packaging applications. Thus, the application of flexible packaging for food retail, grocery stores, and others will drive the bi-oriented polypropylene market.

The market of bi-oriented polypropylene is growing owing to its sustainability, recyclability, environment, and health-friendly and toxic-free product. The shift towards eco-friendly plastic is creating a major drive in the bi-oriented polypropylene market. Various major market players are boosting the production capacities of bi-oriented polypropylene owing to its recyclable and health-friendly trends. For instance, Jindal Poly Films has announced to boost its production units and bi-oriented polypropylene capacity at 45,000 tons per annum. Furthermore, various companies prefer it due to its reusability and low carbon footprint. The Environmental Working Group rates bi-oriented polypropylene as low to moderate hazardous. The Resin Identification Code (IRC) rates polypropylene products at number 5 in terms of recyclable material. Thus, the environmental protection awareness among consumers and manufacturers will drive the bi-oriented polypropylene market and boost its productivity in the future years.

 

• In May 2023, According to Polyplex's shareholding pattern, promoters holds a 50.97% stake. The company's international investments are channeled through its listed subsidiary, Polyplex Thailand, based in Thailand. Additionally, Polyplex possesses a subsidiary in Singapore.

• In April 2023, Cosmo First, a key player in the Biaxially Oriented Polypropylene (BOPP) Film market, is poised for expansion with a significant USD 60 million investment. This strategic capital infusion aligns with the company's commitment to strengthening its position in the BOPP film industry, fostering growth, and capitalizing on emerging market opportunities.

Key companies profiled in the Bi-oriented Polypropylene Market are Decro, Yem Chio, Oben Licht Holding Group, Gettel Group, Stenta Film, Taghleef, Cosmo, Flex Film, Kinlead Packaging, FuRong Technology, and Others.