BOPET film is a biaxially oriented polyester film, which is a functional film. With low water absorption, strong chemical resistance and high mechanical strength, it is widely used in packaging, liquid crystal display, semiconductor lighting, new energy and other fields, and is widely recognized and used by many downstream industries. In recent years, the BOPET industry has developed rapidly, with a wide range of products and applications in the market.
Universal film, electrical insulating film, capacitor film, and laminating film all belong to BOPET films. Universal film and laminating film are the two types with the largest market share in the BOPET industry. With excellent strength and dimensional stability, cold resistance and chemical stability, universal films are widely used in various substrates such as composite packaging, photosensitive film, metal evaporation, audio and video. In 2019, its revenue has reached $5,043.63 million, which is the highest market value among all BOPET types. Laminating films have low thermal shrinkage, good ink and metal adhesion, good dimensional stability, and high processing ability, which can be used in various types of materials such as pictures, certificates and historical documents, credit cards, licenses, and commercial certificates. In 2019, its revenue has reached $1640.32 million.
The largest application industry of BOPET is the packaging industry, which accounts for 57.9% of the market share. The stable development of downstream packaging industry provides rigid demand for BOPET films. The flexible packaging industry in plastic packaging is a concentrated consumption area for various plastic films. The downstream of the flexible packaging industry includes food packaging, medical drug packaging, and daily necessities packaging, etc. Flexible packaging will be welcomed by the market for a long time due to its convenience and ease of printing and display. The demand for electronic, electrical and other special films has grown relatively fast, and the proportion of demand has increased year by year.
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Global BOPET Market Status and Prospect Analysis
The Global BOPET market has a total revenue of $7488.71 million back in 2015, and increased to $9894.11 million in 2020. By 2026, it can reach $14893.71 million.
Asia Pacific was the largest revenue market with a market share of 52.67% in 2015 and 54.12% in 2020, an increase of 1.45%. China is the largest consumer of BOPET films in Asia-Pacific region, accounting for 56.35% of the market share. As a polymer material, BOPET film belongs to one of the strategic emerging industries that China is accelerating the cultivation and key development. In recent years, the Chinese government has introduced a series of industry-related policies and regulations, providing a favorable policy environment for the development of the industry. In addition, China economic development and policy support have promoted further growth in demand for BOPET. However, China still relies heavily on imports for high-end BOPET films. There is still a contradiction between the surplus of low-end products and the shortage of high-end products in the Chinese market. Therefore, the market potential for high-end BOPET products in China is huge. The market value of BOPET industry in Asia Pacific is expected to reach $8416.25 million by 2026, and the market share will further expand.
In 2019, the Europe market share was 21.58%, ranking second. Development of economy, increase downstream demand, technology innovation progress in these areas will promote the BOPET market. It is expected to reach a market value of $2,973.24 million by 2026.
The BOPET Industry Will Continue to Innovate to Enhance its Competitive Advantage in the Current Epidemic
BOPET films are widely used in the packaging of various food, beverage, pharmaceutical and daily necessities, and have now been gradually expanded to aerospace, optical, solar, electronic, electrical and other applications. The above-mentioned areas are closely related to the operating of the macro economy, and the fluctuation of macro economy has a great impact on the price and demand of the products. BOPET is an industry with very broad development prospects, but if the global economic level is depressed in the future, it will have an adverse impact on the production and operation and profitability. Especially, the outbreak of the epidemic has caused a global macroeconomic depression, which has many negative effects on the development of BOPET.
Because BOPET film has the characteristics of high strength, good rigidity, transparency, and high gloss, the future needs and application fields will be continuously developed, with wide application fields and great market potential. Companies in the BOPET industry continue to increase their investment in the development of new products for functionalized films and further increase their efforts to develop the market for differentiated film products. Product competition has shifted from ordinary films to functional films. Enterprises pay more attention to their own market positioning and competitive advantages, showing more distinctive product specialization characteristics. Especially in recent years, the proportion of high value-added products has increased, many enterprises have increased their efforts in technological transformation and technological breakthroughs, and improved their independent innovation ability. The number and quality of products have been greatly improved.
As the downstream applications of BOPET films continue to expand, product differentiation will become the trend of industry development. Various functional film products with specific features are significantly higher than ordinary packaging films. New industry profit growth points are also the direction of new production capacity in the future. Therefore, BOPET film products will develop in the direction of high added value, high technology content, strong core competitiveness and branding.
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