Biaxially oriented polyamide films market has been forecast to surpass a revenue collection of USD 6 billion by the end of 2024.
Sellbyville, DE -- (SBWIRE) -- 06/14/2019 -- Global Market Insights recently introduced new report on global Biaxially Oriented Polyamide (BOPA) Films market with an in-depth study providing complete analysis of the industry size, share and statistics for the period 2019 to 2023. It also provides complete overview of Biaxially Oriented Polyamide (BOPA) Films industry considering all the major industry trends, market dynamics and competitive scenario.
Nowadays, the flexible packaging technique has been gaining ground in the packaging industry, owing to its superior ability to prevent gas, moisture, water, and contaminants to penetrate packaged products. In addition, flexible packaging also reduces the chances of physical damage to the product. This technique is widely preferred across China, India, Europe, Africa, and North America, mainly for food packaging. In this regard, it is pivotal to state that the food and beverage application covered more than 70% of the biaxially oriented polyamide films industry share in 2016.
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The escalating utilization of flexible packaging techniques across the food industry is thus slated to impel biaxially oriented polyamide films market share over the years ahead. Furthermore, food and medicine packaging involve the risk of contamination due to packaging materials, owing to which a suitable high strength material is preferred for inner and outer laminations. Undeniably, BOPA films are the best bet for these laminations, subject to their outstanding mechanical strength. In consequence, this demand has helped substantially stimulate biaxially oriented polyamide films industry trends.
Exorbitant product costs may stand as one of major barriers for biaxially oriented polyamide films industry growth. In order to combat the same, leading BOPA films market players have been attempting to adopt newer manufacturing techniques, that may help lower the overall cost of the product. The rise in per capita income, especially across the emerging economies, has led to a change in consumer preferences with regards to the consumption of packaged food, which is likely to boost BOPA films industry share in the years ahead. As per a report compiled by Global Market Insights, Inc., biaxially oriented polyamide films market has been forecast to surpass a revenue collection of USD 6 billion by the end of 2024.
One of the most renowned giants in biaxially oriented polyamide (BOPA) films market, Domo Chemicals, had recently, in 2016, invested over EUR 1 million for the construction of a pilot polymerization technical center to expand its research activities in Germany. This expansion comes on the heels of the fact that in recent times, pertaining to the growing importance of BOPA films in numerous sectors, reputed players in biaxially oriented polyamide (BOPA) films industry have been adopting significant business strategies to improve their portfolio of innovative products. In 2014, for example, Domo Chemicals acquired the Italy based, leading European BOPA films producer, CFP Flexible Packaging Spa. Via this acquisition, Domo Chemicals had actually made an attempt to improve its product portfolio and strengthen its nylon 6 value chain.
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Speaking along similar lines, considering the surging demand for these films across numerous end-use sectors, a Taiwanese Lealea group, Li Ling Film, has recently announced its decision to build a new biaxially oriented polyamide plant. The plant is being constructed in different sections, and the construction of the first section, i.e., a plant of capacity 800 to 1000 tons of BOPA films per month is already scheduled to commence in Q1 2018, providing an impetus to biaxially oriented polyamide films industry.
Reportedly, Yuanta Financial Holding and National Development Fund have collectively provided the capital for this project – a move that is certain to encourage investors to pour in their coffers in this business, subsequently augmenting the revenue potential of BOPA films market. Speaking of which, some of the renowned biggies in biaxially oriented polyamide (BOPA) films industry are Mitsubishi Chemical Corporation, AEC Group, Green Seal Holding Ltd., AdvanSix, Oben Holding Group, Triton International Enterprises, Unitika Ltd., Domo Group, Kunshan Yuncheng Plastic, Cangzhou Mingzhu Plastic, Transparent Paper Ltd., and GUNZE Limited.
The Biaxially Oriented Polyamide (BOPA) Films market report offers detailed competitive landscape of the global market. It includes companies, industry statistics, market share analysis and product portfolio of the major industry participants. The report provides detailed segmentation of the Biaxially Oriented Polyamide (BOPA) Films market based on product, technology, end user and region.
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