The demand for USA BOPET films is expected to expand at a rate of 3.8%, capturing a significant market share in North America. Food firms' interests in product shelf life and freshness favor packaging solutions with BOPET films, which are among the industry's favorites.
NEWARK, DE / ACCESSWIRE / October 28, 2024 / The North America BOPET films market is poised for substantial growth, with market size estimated at USD 1.87 billion in 2024 and projected to reach USD 2.79 billion by 2034. According to industry forecasts, sales of BOPET films in the region are expected to increase at a steady CAGR of 4.1% over the next decade, up from a revenue base of USD 1.80 billion recorded in 2023.
BOPET films, known for their durability and superior barrier properties, are increasingly valued across industries, with the food sector emerging as the leading consumer in North America. Forecasts indicate that over 35% of the BOPET films' market value will come from the food industry during the 2024-2034 period. The robust demand is largely attributed to the film's ability to protect perishable products from moisture, oxygen, and light exposure, significantly extending product shelf life.
Rising Adoption of Flexible Packaging
The increasing use of flexible packaging is highly driving the demand for BOPET films, which are an integral part of the trend. Flexible packaging offers advantages in terms of a lightweight material; because they take up less storage space, they are more convenient in terms of volume. Convenience benefits both consumers and manufacturers.
BOPET films add excellent barrier properties for maintaining freshness and safety with packaged goods. It also means it can be recycled and might have a lower environmental impact than a rigid alternative. That adds flexibility packaging as an exciting area for BOPET films. With eco-friendly solutions on the forefront of many industries' operations, the relevance of BOPET as part of flexible packaging will see increasing importance.
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BOPET Films are used in the Electronics Industry
Electronics uses BOPET films increasingly in high-performance applications, such as in capacitors, insulation, and flexible printed circuits. These films contain electrical insulation abilities combined with significant mechanical strength as well as thermal stability, which makes them suitable for wide ranges of electronic products.
Growth in the electronics industry, encompassing consumer electronics and electric vehicles, is seeing tremendous demand for these films. With advancing technology and a demand for more efficient and lightweight components, BOPET films are poised to meet those requirements. Therefore, the growing demand in the electronics market is an important growth driver for the BOPET films segment.
Regional Insights into the North America BOPET Films Market
Country |
Value CAGR (2024 to 2034) |
USA |
3.80% |
Canada |
4.30% |
Mexico |
5.10% |
"The use of BOPET films in the healthcare sector, including for medical packaging and protective films, is on the rise. The increased focus on hygiene and safety in healthcare drives demand for high-quality packaging solutions." Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from North America BOPET Films Market
The North America BOPET films market size is estimated to be worth USD 1.87 billion in 2024 and is anticipated to reach a value of USD 2.79 billion by 2034. Sales are projected to rise at a CAGR of 4.1% over the forecast period between 2024 and 2034.
The North America BOPET films industry could possibly see encouraging growth in the forecast period. It is estimated to present an incremental opportunity of USD 991.5 million and is expected to surge 1.5 times the current market value through 2034.
The North America BOPET films market recorded a CAGR of 2.4% during the historical period between 2019 and 2023. Market growth of North America BOPET films was positive as it reached a value of USD 1.8 billion in 2023 from USD 1.6 million in 2019.
Standard BOPET films expected to lead the North America BOPET films market during the forecast period. It are anticipated to rise at a CAGR of 3.7% and generate a valuation of around USD 1.2 billion by the end of 2034.
15 to 30 micron thickness is estimated to lead the North America BOPET films market with a CAGR of 4.2% and estimated to account 47.4% till 2034. 15 to 30 microns is considered the leader of North America BOPET films market because it has offered the best balance of strength and flexibility, hence ideally suited for a wide variety of applications.
Prominent Drivers of the North America BOPET Films Market
Growing Demand for Sustainable Packaging: With an increasing emphasis on environmentally friendly packaging, BOPET films are favored for their recyclability and reduced environmental impact. Industries are shifting towards BOPET films for sustainable packaging solutions.
Rising Application in the Food & Beverage Sector: BOPET films offer excellent barrier properties that preserve food freshness and extend shelf life, making them highly popular in food and beverage packaging, especially as consumer demand for convenient, packaged food products rises.
Expansion of Electronics and Electrical Industries: BOPET films are widely used in electronic and electrical applications due to their high tensile strength, transparency, and electrical insulation properties, supporting growth in these sectors.
Increased Usage in Flexible Packaging: The shift from rigid to flexible packaging across industries such as pharmaceuticals, personal care, and consumer goods has driven the demand for BOPET films, which are lightweight, durable, and highly customizable.
Advancements in Film Production Technology: Continuous technological innovations in BOPET film production, including improved coating and metallization processes, enhance film quality, widen application areas, and reduce production costs, making BOPET films more accessible across various industries.
Shift towards Eco-Friendly Packaging
The BOPET films market has significant increasing demand for packaging, mainly because of an emphasis on eco-friendly packaging. Sustainability becomes increasingly a must for consumers as well as business. Companies are now looking for BOPET films that are recyclable and which reduce the overall environmental impact. This forces the manufacturer to innovate and develop a more environmentally conscious film solution.
It is not just regulatory push, but also consumer demand for greener alternatives in packaging solutions. Therefore, the industry has biodegradable additives and sustainable sources of raw materials for offering more ecologically friendly BOPET films. All these fuel the growth of the BOPET films industry.
North America BOPET Films Market Pouch Market Landscape
Mondi plc, Cosmo Films Inc., Polyplex Corporation, Dunmore, Innovia Films, Taghleef Industries, Uflex Limted, Jindal Films Americas LLC, Toray Plastic America, Inc., Oben Holding Group, Inteplast Group, Polibak, Jerrett Industries, Transcendia, Inc., Trico Speacilty Films, NNZ Group, Alte-Rego Corporation, Peligraf, Films PP S.A. De C.V., Futamura USA, Inc., Garware Hi-Tech Films Limited. Polinas Plastics of America Inc are some of the noticeable players in the market. The tier 1 players in the market hold 12-16% of the North America BOPET films market.
North America BOPET Films Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the North America market for cement packaging, analysing historical demand from 2019-2023 and forecast statistics for 2024-2034.
North America BOPET Films Market Segmentation
By Thickness:
In terms of thickness, the North America BOPET films market is divided into below 15 micron, 15 to 30 micron, 30 to 50 micron, and above 50 micron.
By Material:
North America BOPET films segmented as standard BOPET films, metallized BOPET films, coated BOPET films, heat-sealable BOPET films, and UV-resistant BOPET films.
By Packaging Type:
North America BOPET films market segmented as films & wraps, bags & pouches, tapes & lids, labels, liners, blister packs, and laminates.
By End Use:
North America BOPET films market segmented as food, beverage, pharmaceutical and medical packaging, personal care & cosmetics, other consumer goods, electronics components, automotive, printing & lamination, solar and renewable energy, decorative and security, and other industrial.
By Country:
Key countries of North America such as USA, Canada and Mexico are covered.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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