Why Metalized Biaxially Oriented Polypropylene Films has been a bustPosted by Mrudula Anil Karmarkar on February 3rd, 2021 The global metalized biaxially oriented polypropylene films market size is anticipated to reach USD 8.5 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% from 2020 to 2027. Rising demand for packed food products and electronics is expected to drive the demand for metalized biaxially oriented polypropylene (MBOPP) films over the forecast period. The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor. Demand for MBOPP films is expected to increase majorly in the medical packaging, a sub-segment of the packaging application segment, owing to the growing number of COVID-19 positive cases. Demand for medical and healthcare products has increased owing to the safety and hygiene required to tackle the pandemic situation. Amid the global COVID-19 pandemic situation, demand for electronic products, such as laptops and mobiles, has increased as companies are following work from home and educational institutions have shifted from classroom learning to online classes. The growth in the demand for electronic products is expected to drive the market over the forecast period. The market in the Asia Pacific is anticipated to witness the highest growth over the forecast period owing to various factors such as the presence of government initiatives, such as Make in India, Atmanirbhar Bharat ( self-dependent India), along with a rising number of manufacturers of consumer goods, electronic components, and medical and healthcare products and rising R&D investments for developing new applications of MBOPP films by private as well as public organizations. In addition, various electronic products and medical and healthcare product manufacturing companies have started looking towards India for establishing manufacturing facilities post COVID-19 pandemic situation. Metalized Biaxially Oriented Polypropylene Films Market Report Highlights
Demand for affordable consumer electronic products, such as laptop, mobile, and modems, has increased majorly through e-commerce websites. Rise in demand for consumer electronics has propelled the demand for MBOPP films in electronic insulation and packaging applications, which is expected to drive the market over the forecast period. With the rising standard of living, growing consumerism, and increasing purchasing power parity among the consumers, the advertising industry has evolved and companies have started giving labels and tags inside the product packages, in addition to the product labeling. These additional labels and tags are used as an indirect and passive modes of advertising the product. The growth of the advertising industry using labels, tags, and graphics is expected to drive the market over the forecast period. The packaging application segment led the market and accounted for more than 70.0% share of the global revenue in 2020. This is attributed to rising demand for packed food and beverages, medical, and personal care products. Personal hygiene products, such as electronic trimmers and shavers, along with housewares, cosmetics, and convenience goods, are the major products driving the demand for MBOPP films. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/1635/ibb Companies in the market compete on the basis of product quality offered and technology used for the production of metalized biaxially oriented polypropylene (MBOPP) film. Major players are involved in the expansion of their manufacturing facilities, infrastructural development, investing in research & development facilities, and seeking opportunities to vertically integrate across the value chain. In March 2018, Jindal Films announced the expansion of metalizing and extrusion of the Brindisi, Italy manufacturing facility. This expansion is intended to cater to the growing demand for metalized film in various application industries. These initiatives help them cater to the increasing global demand, ensure competitive effectiveness, enhance their sales and operations planning, develop innovative products and technologies, bring down their production costs, and expand their customer base. The global market is found to be significantly fragmented owing to the presence of a large number of manufacturers across the globe. Some of the prominent players in the metalized biaxially oriented polypropylene films market include:
Grand View Research has segmented the global metalized biaxially oriented polypropylene (MBOPP) film market on the basis of application: Metalized Biaxially Oriented Polypropylene Films Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
o Food & Beverages Packaging o Medical Packaging o Personal Care o Temper Evident Films o Horizontal Form Fill Seal (HFFS) and Vertical Form Fill Seal (VFFS) Packaging
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |