Future Market Insights (FMI) polypropylene packaging film market research provides convincing insights into the main growth drivers and constraints affecting the growth trajectory in 2031. The survey provides the prospects for polypropylene packaging film demand and studies the opportunities that exist in key market segments, including product types, film formats, applications, and regions. It also highlights the key strategies adopted by market participants to increase product sales.
Dubai, UAE, September 7, 2021/PRNewswire/ - Future Market Insights (FMI), an ESOMAR-certified market research company, predicts in its latest analysis that the polypropylene packaging film market will reach a valuation of 26.2 billion in 2021 . Due to the increasing preference for flexible packaging, the market will grow at a compound annual growth rate of 6.5% between 2021 and 2031.
The rapid growth of the polypropylene packaging film market can be attributed to the growing demand for flexible polypropylene packaging solutions in various industries such as food and beverage, pharmaceuticals, and electronics.
With the increase of disposable income and the increase of middle-income population, the world's demand for packaged food is huge. Food manufacturers have been working to extend the shelf life of their products. Therefore, polypropylene film is being used for packaging purposes on a large scale.
Polypropylene packaging film can not only extend the shelf life of food, but also help maintain the quality of food. They are excellent substitutes for cellophane, wax paper and aluminum foil.
Due to various characteristics of polypropylene films, such as recyclability, optical transparency, cost-effectiveness and light weight, they are widely used in flexible packaging solutions for various applications.
As the world moves towards sustainable packaging, there is an increasing demand for environmentally friendly solutions. Growing environmental issues and increasing awareness of the benefits of sustainable and recyclable packaging solutions will have a positive impact on the demand for polypropylene film.
Similarly, due to the heat resistance, moisture resistance and impact resistance of polypropylene film, polypropylene films are increasingly used in electrical and medical product packaging, which will rapidly promote the market during the forecast period. The market is expected to exceed 13.2 million tons by 2021.
The BOPP film division leads the polypropylene packaging film market. This can be attributed to its moisture resistance, better gas barrier properties, higher modulus, higher tensile strength characteristics, and increased research and development activities on BOPP materials.
Due to the increasing demand for packaged goods in the region, North America has a leading position in the polypropylene packaging film market. The North American market will achieve a compound annual growth rate of 5.4% between 2021 and 2031.
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"The expanding application of polypropylene film in the electronics, tobacco and healthcare industries, coupled with the increase in research and development activities, will expand the polypropylene packaging film market during the forecast period," FMI analysts said.
The key points of polypropylene packaging film market survey
North America leads the polypropylene packaging film market. From 2021 to 2031, the market will grow at a compound annual growth rate of 5.4%.
The European market is expected to grow at a compound annual growth rate of 4.7% during the forecast period.
With the expansion of the healthcare and food and beverage industries, East Asia is expected to become the focus during the forecast period.
The BOPP film division leads the polypropylene packaging film market.
By 2021, the top 5 participants operating in the market will account for 8-10% of the market share.
Increasing preference for flexible packaging is driving the development of the polypropylene packaging film market.
Expansion of applications in the food and beverage and healthcare sectors will have a positive impact on the demand for polypropylene film
Increasing environmental issues and increasing awareness of the benefits of polypropylene films will also contribute to the growth of the market.
The growing middle-class population and increasing disposable income will accelerate the sales of PP film.
Fluctuations in raw material costs and availability have hindered the growth of the polypropylene packaging film market.
The availability of better alternative packaging solutions may reduce the use of PP packaging films in various applications.
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Major companies operating in the global polypropylene packaging film market are focusing on expanding their product portfolio and distribution network. They have adopted a variety of strategies, such as mergers and acquisitions, development of new products and cooperation, in order to gain a competitive advantage in the market.
In July 2020, Lyondell Basel, the world's largest polyolefin technology licensor, announced that Quanzhou Grand Pacific Chemical Co., Ltd. (QGPC) will use Lyondell Basel's Spheripol technology to build a 450 KTA polypropylene plant in Quanzhou, China.
In January 2019, Taghleef Industries (TI) completed the acquisition of Biofilm. The acquisition will help Taghleef Industries to increase its annual BOPP production capacity to more than 500,000 tons.
Some of the main players operating in the polypropylene packaging film market introduced by FMI are:
Polinas Plastik Sanayi ve Ticaret AS
Tagliffe Industries LLC
Thai Film Industry Public Co., Ltd.
Auburn Holding Group SAC
Lowood National Plastics Co., Ltd.
Jindal Poly Films Ltd., Uflex Ltd.
More insights on the prospects of global polypropylene packaging film sales
FMI provides a fair analysis of the polypropylene packaging film market, providing historical demand data (2016-2020) and forecast statistics for the period 2021-2031. The study revealed compelling insights into the global demand for polypropylene packaging films, and detailed breakdowns based on the following:
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Key issues covered in the sales outlook report for polypropylene packaging film
The report provides an in-depth understanding of the demand outlook for polypropylene packaging films from 2021-2031
The market research also highlights the projected sales growth of the polypropylene packaging film market from 2021 to 2031
The polypropylene packaging film market survey identified the main growth drivers, limiting factors and other forces affecting fashion trends, and evaluated the current market size and industry forecasts and technological progress.
Analysis of the market share of major companies in the polypropylene packaging film industry and the coverage of strategies such as mergers and acquisitions, joint ventures, cooperation or partnerships
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About Future Market Insight (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving customers in more than 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States and India. FMI's latest market research reports and industry analysis can help companies confidently and clearly respond to challenges and make key decisions in the fierce competition. Our customized joint market research reports provide actionable insights to drive sustainable growth. FMI's expert-led analyst team keeps track of emerging trends and events in various industries to ensure that our customers are prepared for the ever-changing needs of consumers.
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