India BOPE Films Market - 2022-2029

Market Overview

The India BOPE films market reached US$ XX million in 2021 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 16.68% during the forecast period (2022-2029).

BOPE combines the benefits of polyethylene film's heat sealing, tensile strength, impact resistance and tear resistance with that of polypropylene film's transparency, gloss, tensile strength and stiffness. Compared to PE film, BOPE film offers greater tensile strength, stronger impact strength, is more transparent, has a higher gloss, can replace PE film, has a thickness that is lowered by 50% and is less expensive.

As a barrier film substrate for food packaging, BOPE films are regarded as the best option since they have built-in moisture barrier capabilities, are sealable, have great clarity and can reproduce graphics and shelf appearance.

Market Dynamics

The two key factors driving the India BOPE Films market are the rising need for food packaging and the rising demand for processed meat and fish with the increase in consumption. However, the product's fluctuating raw material costs could limit the market growth.

The rising demand for food packaging

Biaxially orientated polyethylene (BOPE) has become a strong challenger in packaging made with recycling in mind over the past few years. The reasons for this mono-material alternative include sustainability and the circular economy, just like with the longer-running trend of all-PE blown-film packaging (such as standup pouches). For the packaging of a variety of food goods, such as mayonnaise, snacks, ketchup, sauces, confections, pasta, fresh & frozen foods, tea, breakfast cereal, coffee, perfumes and light industry products, BOPE films are a component of composite films.

Because of this, BOPE films are crucial to the food processing and packaging industries. The India Brand Equity Foundation Organization analysis predicted that the country's packaging market would reach approximately US$ 73 billion in 2020, rising at a CAGR of 18% between 2015 and 2020.

Growing demand for processed meat and fish with the surge in consumption

To manufacture pouches, bags, laminates, labels and tapes, BOPE films are used. These products are then used for packaging fresh produce, meat, fish, confections and dairy items. To increase the shelf life of meat and fresh fish products, BOPE films are used because of their superior heat resistance, high-temperature barrier and sealing capabilities.

The need for BOPE films is rising as India's meat and fish production continue to increase. The FAO- Food & Agriculture Organization of the United Nations reports that India's overall meat production reached 7.256 million tonnes in 2018 and is expected to reach 8.11 million tonnes in 2020. To keep such a large amount of meat, BOPE film demand has skyrocketed in India.

Fluctuation in raw material prices

Various chemical processes, including polymorphism, microbiological processes and crystallization techniques, produce BOPE. As a result, carrying out these operations necessitates expensive systems and equipment, which restrains the expansion of the BOPE market. The BOPE is produced using the flat film process and biaxial stretching technology from the raw material polyethylene resin, which has a unique molecular structure.

The cost of raw ingredients varies according to where and how BOPE films are made. Furthermore, several procedures, tools and a substantial investment are needed to set up the factory to produce BOPE film. The molecular structure of the raw materials for polyethylene serves as the basis for developing BOPE special materials based on cutting-edge double-drawing processing technology.

COVID-19 Impact Analysis

Due to COVID-19, the BOPE film market in India has experienced two effects. The pandemic benefited the food packaging sector, which led to good growth in the BOPE films market concerning the food packaging end-use industry. Consumers in India have turned to e-retail and e-commerce for essentials and indulgences as a direct result of the pandemic-led loquacious lockdowns. This tendency would be anticipated even after COVID.

Although the demand for BOPE films is predicted to rise, problems with the supply chain, logistics, the scarcity of raw materials and the lack of labor are anticipated to restrain the India BOPE films' development partially.

Segment Analysis

By type, the India BOPE Films market is segmented into LLD-BOPE, HD-BOPE and others.

Several applications of HD-BOPE films

An innovative technology called HD-BOPE makes it possible to create multilayer film structures made entirely of recyclable polyethylene with much better physical performance. It is made for usage in demanding industries like e-commerce, heavy-duty shipping sacks and food packaging. HD-BOPE resins can be laminated to a sealant film of lower-density polyethylene when used in the print web.

In addition, the produced film possesses low tear qualities required for easy-open packaging and high stiffness that facilitates down gauging and enhanced processability in conversion processes compared to blown film alternatives. As flexible packaging can be recycled more readily using HD-BOPE packaging, brand owners may be able to meet their circular economy commitments.

Competitive Landscape

The market for BOPE films in India is extremely consolidated due to the small number of international and domestic companies there. The market is still in its very early stages of growth.

Major India BOPE films market companies include The Dow Chemical Company, Ampacet Corporation, Bruckner Maschinenbau GmbH & Co. KG, Vora Packaging Private Limited, SABIC, Nova Chemicals Corporation, Kafrit Industries, Max Speciality Films and Jindal Poly Films Limited.

The Dow Chemical Company

Overview: A worldwide company called The Dow Chemical Company manufactures chemicals, polymers and hydrocarbons. The company has segmented its product range into 22 categories to cater to the needs of the automotive and transportation, building, construction & infrastructure, consumer goods and appliance industries. The Dow Chemical Company has 106 production facilities spread over 31 nations in the Americas, Asia Pacific, Europe, Middle East & Africa.

Product Portfolio: The supplier offers INNATETM XUS 59910.08, a TF-BOPE Resin. It is a Tenter Frame Biaxially Oriented Polyethylene (TF-BOPE) that provides enhanced optical and printing performance, higher material stiffness and mechanical qualities.

Key Development: In December 2020, a variety of tenter-frame, biaxially-oriented PE (BOPE) materials for linear low, medium and high-density packaging films were released by Dow Packaging and Specialty Plastics in collaboration with Plastchim-T and Ticinoplast.

Why Purchase the Report?

• Visualize the composition of India BOPE films market segmentation by type and end-user, highlighting the critical commercial assets and players.
• Identify commercial opportunities in India BOPE films market by analyzing trends and co-development deals.
• Excel data sheet with thousands of India BOPE films market-level 4/5 segmentation points.
• Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players.

India BOPE films market report would provide access to an approx. 33 market data table, 21 figures and 202 pages.

Target Audience 2022

• BOPE Films Providers/ Buyers
• Industry Investors/Investment Bankers
• Heavy Equipment & Research Institutes
• Emerging Companies
• Resin Manufacturers