Key Market Insights
"Increasing inclination toward flexible packaging will spur the market revenue growth"
The global polypropylene packaging films market accounted for US$ 21.6 Bn in 2018 and is anticipated to grow to US$ 34.7 Bn growing at a CAGR of 6.1% during the forecast period from 2019 to 2027.
Growing inclination towards flexible packaging solutions coupled with rising food and beverage sector especially in developing regions are having a positive influence on the demand for polypropylene packaging films market. Polypropylene films offers a combination of benefits including recyclability, optical clarity, ease of conformance, light weight and low costs among others. The rising environmental concerns globally and increasing awareness among people to use sustainable and recyclable packaging solutions are also contributing towards the growth of the polypropylene market. Manufacturers are shifting to produce and are investing heavily to increase production of polypropylene packaging films in order to meet the growing demand from various end-use industries. Additionally, flexible packaging industry is growing rapidly as it increases the shelf life and food safety among others of which polypropylene packaging films is a segment.
Polypropylene packaging films are one of the key components for sustainable packaging solutions. Consumers’ penchant towards sustainable, and recyclable solutions along with strength and durability of polypropylene packaging films is proliferating the demand of the market.
Market Synopsis
Product Type Analysis
"BOPP films segment to dominate the market throughout the forecast period"
Based on product type, the polypropylene packaging films market is further classified into BOPP and CPP. BOPP films segment leads the polypropylene films market and accounts for a market share of more than 60% globally. This is due to its moisture resistant abilities and barrier properties along with increasing research and development activities for BOPP material. Thus bolstering the demand of global polypropylene packaging films market.
In contrast, CPP segment is anticipated to observe highest growth during the forecast period. This most common application of these films are for packaging and lamination owing to its moderate elasticity, machine suitability, moisture proof properties, and heat sealability among others.
End-use Analysis
"Food & Beverage segment expected to dominate the market during the forecast period"
Based on application, the global polypropylene packaging films market is bifurcated into food & beverages, personal care & cosmetics, electric & electronics, industrial, pharmaceutical & medical, tobacco, and others. The food & beverage segment accounted for the largest market share and held XX% of the market. This can be associated with the inertness, high chemical resistance, low manufacturing costs and low odor properties approved by the FDA.
Additionally, pharmaceutical & medical segment also holds a major share of the polypropylene packaging films market owing to the properties such as high heat resistance, tear resistance, moisture proof, and high puncture & tear resistance among others.
Regional Analysis
"Asia Pacific region dominated the global polypropylene packaging films market"
Asia Pacific region dominates the global polypropylene packaging films market and represents US$ XX Bn in terms of market share and is expected to expand with a CAGR of XX% during the forecast period. This can be attributed to profound growth of the regional industrial ecosystem such as pharmaceutical & medical, and food & beverage among others. The booming tobacco sector in South Asia region is also having a significant impact on the growth of the market. Additionally, the rising urbanization, changing lifestyle of the consumers such as on-the-go food, and preference for sustainable products in the region are further bolstering the market growth in the region.
On the contrary, Asia Pacific region is followed by Europe. The Europe region accounted for a share more than 22% of the global market. This can be associated with the increasing regulatory norms in the region to develop sustainable packaging solutions and growing consumer awareness regarding environmental health among others.
List of Companies Covered:
- Toray Plastics, Inc.
- Cosmo Films Ltd.
- Vacmet India Ltd.
- Irplast S.p.A
- Polinas Plastik Sanayi ve Ticaret AS
- Profol Kunststoffe GmbH
- Taghleef Industries L.L.C.
- Thai Film Industries Public Company Ltd
- Oben Holding Group S.A.C.
- Rowad National Plastic Co., Ltd.
Key Industry Developments
- In January 2019, Taghleef Industries completed the acquisition of Biofilm to expand its presence in the Latin America. With the acquisition, Taghleef has secured a position as the prominent supplier of BOPP films in Latin America. The acquisition increased the production capacity of the company to over 500,000 tons. The company has secured a strong position in the supply chain in Latin America by spreading its production sites in Cartagena, Colombia, and Altamira, Mexico.
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Market Segmentation
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Product Type Segment (2017–2027; US$ Bn):
• BOPP
• CPP
|
|
Film Type Segment (2017–2027; US$ Bn):
• Clear Films
• Coated Films
• Matte Films
• White Films
• Metallized Films
• Others
|
|
Application Segment (2017–2027; US$ Bn):
• Bags & Pouches
• Laminations
• Tapes
• Labels
• Wraps
• Others
|
|
End-use Segment (2017–2027; US$ Bn):
• Food & Beverages
• Personal Care & Cosmetics
• Electric & Electronics
• Industrial
• Pharmaceuticals & Medical
• Tobacco
• Others
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, Russia, Rest of Europe)
• Asia Pacific (Japan, China, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall Polypropylene Packaging Films market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the polypropylene packaging films market and valuable opportunities for emerging players?
- Estimated forecast and market projections up to 2027
- Which segment accounts for the fastest CAGR during the forecast period?
- Which application segment holds a larger market share and why?
- Are low and middle-income economies investing in the polypropylene packaging films market?
- Which is largest regional market for polypropylene packaging films?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
- Worldwide market value of the Polypropylene Packaging Films market in 2017 and 2018
- Which are the key trends driving the global polypropylene packaging films market growth?
- Who are the leading service providers in the polypropylene packaging films market worldwide?
