Polypropylene Packaging Films Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Polypropylene Packaging Films Industry Hit Worst due to Russia-Ukraine War Impact?
The global polypropylene packaging films market size is anticipated to grow exponentially because of the rising adoption of the product in the food & beverage industry because of its long shelf-life and safety. Cost-Effectiveness and the high material quality of the product can propel market growth. Fortune Business Insights™ mentions this information in its report titled “Polypropylene Packaging Films Market, 2021-2028.“
Polypropylene packaging films are packaging materials created from the tubular process. Its heat sealing and softness make it ideal for lamination. Its cost-effectiveness, exceptional strength, excellent texture quality, printability, dimensional stability, and transparency make it an ideal choice as a packaging material. It is extensively used in the healthcare and food & beverage industry because of its increasing applications for product sealing and packaging. Polypropylene packaging films are used to seal vegetables and fruit packs to maintain their freshness and quality. Moreover, the increasing trend of online grocery shopping has surged the adoption of the product, thereby boosting the market growth in the foreseeable years.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Polypropylene Packaging Films Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Polypropylene Packaging Films Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
By type, the market is segregated into biaxially oriented polypropylene (BOPP) and cast polypropylene (CPP). On the basis of application, it is categorized into bags & pouches, table & labels, and others. As per the end-user, it is divided into food, beverage, healthcare, industrial, and others. Geographically, it is clubbed into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Highlights of the Report
- This report conducts an analysis of the leading segments and the latest market trends.
- It conducts a comprehensive study of the impact of COVID-19 on the market and the driving and restraining factors.
- This report examines the regional developments and the strategies implemented by the market’s key players.
Drivers and Restraints
Rising Adoption of BOPP Material in the Food & Beverage Sectors to Nurture Growth
Biaxially oriented polypropylene (BOPP) is a moisture-resistant packaging material that is extensively used in the food & beverage sector because of its shelf appeal and visual clarity. The material offers exceptional printability because of the clarity of prints offered by the material. Logos, packaging dates, laminations, product information, and other factors can be easily printed over the material. It is extremely cost-efficient and offers excellent sealing properties to the product. It is used for sealing meat products, vegetables, fruits, and other products to preserve their quality and freshness. The polypropylene packaging material offers an extremely longer shelf-life to the product, thereby providing consumers with excellent quality food products. Online shopping websites have developed substantially during the COVID-19 pandemic. Polypropylene packaging films are extensively used for groceries and meat products to maintain quality and enhance protection against infections and contaminations. The product’s reliability for packaging food products is likely to drive the polypropylene packaging films market growth.
However, the availability of aluminum foils and polyethylene material is expected to hamper the market growth.
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Robust Demand from Healthcare Sectors to Enhance Growth in Asia Pacific
Asia Pacific is projected to dominate the polypropylene packaging films market due to strong product demand from the healthcare sector. The rising per-capita income of the population in this region has facilitated the demand for properly packaged health supplements, thereby boosting the market growth.
In North America, the rapid adoption of polypropylene packaging films in the food & beverage industry can bolster market growth.
Robust demand for the polypropylene packaging films in pouches and bags in Europe is likely to boost product demand. Germany and the UK are the dominant countries for the adoption of packaging films, which, in turn, can propel market growth.
Prominent Companies to Expand Manufacturing Lines to Enhance Product Portfolio
Crucial entities in the competitive space are focusing on expanding their manufacturing line to enhance their product portfolio. For example, Max Speciality Films Limited (MFSL) announced its fifth BOPP polypropylene packaging film production line named Line 5 in June 2018 to enhance its production capacity from 46.35 KTPA to a whopping 80.85 KTPA. This expansion of its production line shall enable the company to enhance its product portfolio. In addition, the key players are launching novel products to satisfy consumer demand. For example, Coveris announced a new cast of polypropylene packaging films to package non-food, food, and pet food products in January 2020. This launch shall enable the company to satisfy the consumer demand for a variety of polypropylene packaging films.
- June 2020: Innovia announced Encore, a recyclable range of BOPP films, to reduce greenhouse gas emissions.
List of Key Players Profiled in the Polypropylene Packaging Films Market Report
- MITSUI CHEMICALS AMERICA INC.
- Lyondell Basell Industries Holdings
- Blueridge Films Inc.
- Cosmo Films Ltd.
- Polyplex Corporation Ltd.
- Jindal Poly Films
- Profol Group
- Manuli Stretch s.p.a
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