NEW YORK, United States, May 12, 2022 (GLOBE NEWSWIRE) -- Biaxially oriented polyethylene terephthalate (BOPET) film market overview:
According to a comprehensive research report by Market Research Future (MRFR), "Biaxially Oriented Polyethylene Terephthalate Film Market Information by Product, End User and Region - Forecast to 2028", the market is expected to grow at 6.8% % CAGR to reach $24.8 billion by 2028. Biaxially oriented polyethylene terephthalate (BOPET) film is an important polyester film used in thin plastic sheets that can be mechanically and manually expanded in lateral dimensions.BOPET film helps protect objects from damage during transport and wet weather.
Biaxially oriented polyethylene terephthalate films are in high demand in numerous end-use industries.Furthermore, the growing demand for these films in the global food and beverage industry will translate into substantial market growth in the coming years.
The easy availability and high availability of key raw materials across the globe largely benefit the biaxially oriented polyethylene terephthalate film market.These types of films are widely used in pharmaceutical and cosmetic packaging.Products from these industries are showing strong growth indicators given the soaring purchasing power of consumers and their focus on personal well-being.
The biaxially oriented polyethylene terephthalate film market is expected to witness strong growth over the next few years as the preference for environmentally friendly products soars.These films are used in almost everything from food to clothing.Strong product demand is due to the waste-reducing properties of BOPET films, which help conserve natural resources and make a healthy contribution to the environment.
Various packaging technologies are not available due to the high cost of raw materials, leaving suppliers to rely on outdated packaging.This can negatively impact the environment and the economy.Furthermore, the high cost of skilled labor can pose a huge challenge to the global market.
Browse the in-depth market research report (100 pages) on Biaxially Oriented Polyethylene Terephthalate (BOPET) Film: https://www.marketresearchfuture.com/reports/biaxially-orientated-polyethylene-terephthalate-bopet- films-market-10737.
The COVID-19 outbreak has been bad for most industries globally, triggering a slew of public health measures and disrupting manufacturers' supply chains.The spread of the pandemic has resulted in the closure of various operational facilities around the world.
However, companies active in the market are working to safeguard the well-being and health of their employees while supporting the government’s goals in maintaining vital business activities such as food production, healthcare and power generation.Reduced cash flow is another major concern, with most customers falling behind on payments or unable to make purchases, while inventory is cancelled due to supply chain disruptions.On the bright side, as BOPET film is widely used in the packaging of various e-commerce orders, these orders are enjoying continued demand that could lead to strong market demand in the coming years.
In terms of product, the biaxially oriented polyethylene terephthalate (BOPET) film market is suitable for pouches, bags, pouches, packaging, etc.The luggage segment in the global market has taken the top spot as these bags are stackable, lightweight, and have impressive barrier and tensile properties.These bags are widely used in the packaging of grains, legumes, dairy products, grass seeds, beverages, animal nutrition, fertilizers and pet food, further propelling the market position of this segment. Depending on the end user, the biaxially oriented polyethylene terephthalate (BOPET) film industry has been considered for cosmetic and personal care, electrical and electronic, pharmaceutical, food and beverage, automotive, and more.Of these, the food and beverage segment has been the largest end-use industry in the market since 2020.This segment holds the largest share of the market and has seen substantial growth in the ensuing years.On the other hand, the pharmaceutical sector is very likely to experience the fastest CAGR between 2020 and 2027.The huge demand for biodegradable materials for pharmaceutical packaging can boost the growth rate of the BOPET film market in the future. North America leads the global market for BOPET films and is likely to continue to thrive throughout the analysis period.The huge business growth in the region is a response to the rapid emergence of consumer-friendly and sustainable packaging solutions.Favorable aspects such as an expanding working population, busy lifestyles and changing dietary habits have boosted the demand for BOPET packaging films in the region.Demand for biaxially oriented polyethylene terephthalate films is also strong in the booming pharmaceutical industry in the United States.Furthermore, as the U.S. owns more than half of the packaged food industry in the region, the country has become the market leader in the region.
Europe is another attractive market for BOPET films due to the huge demand from major end users such as medical and pharmaceuticals.The personal care and cosmetic industries have emerged as some of the most prominent BOPET film end users in the region, contributing significantly to the market growth. Asia Pacific will be the fastest growing region in the future due to the rapid expansion of industries such as pharmaceuticals, cosmetics and food.This growth is a response to rising consumer living standards and increasing spending power.Rising working populations in India and China coupled with huge consumer demand for packaged food have also increased market value.The booming e-commerce sector in India and the consequent increase in demand for high-quality adhesive tapes for packaging and labelling products will be the key drivers for the market growth. Poly(butylene adipate-co-terephthalate) Market Research Report - Application (Composite Bags, Garbage Bags, Mulch, Cling Film, Stabilizers), End Use (Packaging, Agriculture & Fishing, Consumer Goods, paint) - forecast to 2030.
Industrial Films Market Research Report:
Information by Material Type [Linear Low Density Polyethylene (LLDPE), Low Density Polyethylene (LDPE), High Density Polyethylene (HDPE), Polypropylene (PP), Polyethylene Terephthalate Diol Ester (PET), Polyvinyl Chloride (PVC), Polyamide & Others], End Use (Transportation, Construction, Industrial Packaging, Agriculture, Medical & Others) - Forecast to 2030 Ammonium Nitrate Market Research Report - Information By Application (Explosives, Fertilizers, Etc.), By End User (Construction, Mining, Quarry, Agriculture, Etc.) And By Region - Forecast To 2030 Market Research Future (MRFR) is a global market research company that prides itself on providing complete and accurate analysis of different markets and consumers around the world.Market Research Future's goal of excellence is to provide clients with the highest quality research and fine-grained research. We conduct market research on global, regional and country-level segments by product, service, technology, application, end user and market player, enabling our clients to see more, know more, do more, This helps answer your most important questions.
Post time: May-23-2022