BOPP Film Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
BOPP Film Prices December 2023
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Product
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Category | Region | Price |
|---|---|---|---|
| BOPP Film | Petrochemicals | Saudi Arabia | 1548 USD/MT |
In Saudi Arabia, the BOPP films market observed price adjustment during Q4 2023, due to fluctuations in upstream crude oil prices. This period saw a decline in crude oil prices, which, in turn, facilitated lower production costs for BOPP films by making the feedstock polypropylene more affordable within the Saudi market.
Despite a strengthening in non-oil sectors, the demand for BOPP films among businesses remained subdued, attributed to an oversupply and challenging demand conditions in international markets.
Consequently, suppliers in Saudi Arabia managed their operations by relying on existing inventories and introduced year-end discounts to stimulate the market. By the end of Q4 2023, the price for BOPP film in Saudi Arabia was established at 1548 USD/MT.
BOPP Film Price Trend, Market Analysis, and News
IMARC's latest publication, “BOPP Film Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the BOPP film market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of BOPP film at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed BOPP film price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting BOPP film pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.
BOPP Film Market Analysis
The global BOPP film market size reached US$ 21.1 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 31.6 Billion, at a projected CAGR of 4.50% during 2023-2032.
- The global expansion of the packaging sector, particularly in food, pharmaceuticals, and cosmetics, drives demand for BOPP films due to their excellent barrier properties. As per estimates by IMARC, the global flexible packaging market is projected to reach US$ 190.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
- Increasing consumer and regulatory push for more sustainable packaging solutions has led to a rise in the demand for recyclable and eco-friendly BOPP films. For instance, IRPLAST, an Italian company, launched NOPP+, a new range of films made from 90% second-generation bio-based feedstocks, primarily used cooking oil (UCO) in April 2023. The NOPP film range, which includes both tall oil-based and UCO-based BOPP films, offers the same properties as traditional fossil-based BOPP films, ensuring excellent converting performance on high-speed machines and suitability for various markets. The NOPP film range is ISCC PLUS certified, food contact approved, and 100% recyclable in normal polyolefin waste separation streams. IRPLAST's unique LISIM-Brückner technology is used in the production of NOPP films, providing balanced mechanical stretch properties.
- Technological advancements in film properties, such as improved barrier characteristics, mechanical strength, recyclability, and printability, are expanding BOPP films' applicability. In August 2023, 3 companies, Toppan, Mitsui Chemicals Tohcello, and Mitsui Chemicals, launched joint pilot testing for horizontally recycling printed BOPP flexible packaging film into new BOPP film. The companies aim to have this technology implemented in by FY2025 in line with the milestone laid out by the Ministry of the Environment’s Resource Circulation Strategy for Plastics, Japan.
- The growth of the retail industry, especially in emerging economies, necessitates high-quality packaging solutions that BOPP films can provide. As per IMARC estimates, the global retail industry is projected to exhibit a growth rate (CAGR) of 5.54% during 2024-2032, reaching US$ 46,304.9 Billion by 2032. The rising demand for convenient, lightweight, and resealable packaging among consumers boosts the BOPP films market.
- BOPP films' ability to extend the shelf life of products by protecting against moisture and oxygen drives their usage in food packaging. With the global food packaging industry projected to surpass US$ 600 Billion by 2032, the demand for BOPP is projected to increase considerably.
BOPP Film News
The report covers the latest developments, updates, and trends impacting the price of BOPP film, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the BOPP film price trend.
Latest developments in the BOPP film industry:
- April 2024: UFlex, an Indian multinational flexible packaging and solutions company, started commercializing poly-condensed polyester chips at its Panipat, India manufacturing facility, with an installed capacity of 168,000 MTPA. The facility will primarily produce poly-condensed polyester chips, a key raw material for packaging films, catering to both in-house demand and third-party customers. This expansion strengthens UFlex's presence in the packaging film industry and supports its vertical integration strategy.
- December 2023: Cosmo First (formerly Cosmo Films) launched Metallized Capacitor Grade BOPP Films for capacitor manufacturing. The films are manufactured under clean room conditions with micro slitting capability and a thickness range of 2.5 to 12 microns. The company has an installed capacity of approximately 750 MT per annum for these metallized films and aims to scale up this product category in the future.
- February 2023: Toray Advanced Materials Korea Inc., a subsidiary of Toray Industries, Inc., announced that it will increase annual production capacity for TORELINA™ polyphenylene sulfide (PPS) resin by 5,000 metric tons at a plant in Gunsan, Korea, from December 2024. This expansion will bring the Toray Group's combined PPS manufacturing capacity to a world-leading 32,600 metric tons annually.
Product Description
Biaxially oriented polypropylene (BOPP) films are a type of thermoplastic polymer material that undergoes a biaxial orientation process, enhancing the strength, clarity, and barrier properties. This process involves stretching the film in both the machine direction (MD) and the transverse direction (TD), resulting in a material that is ideal for various packaging, labeling, and lamination applications.
BOPP films are characterized by their excellent moisture and gas barrier qualities, high tensile strength, superior transparency, and resistance to UV light. The orientation process provides BOPP films with stability and resistance to shrinkage at different temperatures. These films are also resistant to acids, alkalis, and solvents, making them suitable for packaging a variety of products. As they are non-toxic and do not react with the contents, BOPP films are considered safe for use in the packaging industry for food, textiles, pharmaceuticals, and personal care products.
Regional Coverage
The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the BOPP film price trend.
Global BOPP Film Price
The report offers a holistic view of the global BOPP film pricing trends in the form of BOPP film price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of BOPP film, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed BOPP film demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Europe BOPP Film Price
The European region faced a downtrend, with abundant supplies and moderated FMCG packaging demand impacting prices. Crude oil price uncertainties and polypropylene devaluation lowered production costs. Germany's manufacturing saw a contraction easing towards the end of 2023, with reduced purchasing and workforce adjustments. The period experienced diminished orders, especially from abroad, amidst the holiday season slowing demand further.
This analysis can be extended to include detailed BOPP film price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America BOPP Film Price
In North America, BOPP film the market experienced a downturn, primarily due to reduced demand in the automotive sector and moderate needs from FMCG packaging. The fall in feedstock polypropylene prices throughout the fourth quarter contributed to this decline. Mexico saw a decrease in BOPP Film prices, driven by steady demand in packaging and lower polypropylene production costs, thanks to eased sanctions on Venezuelan crude oil. The period also allowed companies to address and clear backlogs due to a scarcity of new business.
Specific BOPP film historical data within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa BOPP Film Price
The BOPP film market in the Middle East and Africa (MEA) region observed a decline, characterized by balanced supply but low demand, affecting prices alongside dropping polypropylene costs due to reduced crude oil prices. Saudi Arabia saw notable price decreases, with overall weak BOPP consumption amid an oversupplied market and discounted year-end pricing strategies. This situation underscored a stable but challenging market environment, with companies adapting to prevailing conditions.
In addition to region-wise data, information on BOPP film prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East and Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific BOPP Film Price
The BOPP film pricing in the Asia Pacific region showed slight downturns amid stable polypropylene prices. Post-Mid-Autumn festival, China's demand dropped, leading to an oversupplied market managed by discounts. Korea maintained stable demand for exports without significant festive impact. The decline in crude oil prices positively influenced production and feedstock costs, supporting a period of market adjustment with supply exceeding demand, leading to price concessions.
This BOPP film price analysis can be expanded to include a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America BOPP Film Price
The analysis of BOPP film prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries.Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | BOPP Film |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, BOPP Film Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
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| Customization Scope | The report can be customized as per the requirements of the customer |
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Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
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| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of BOPP film pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
- The study examines factors affecting BOPP film price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The BOPP film price charts ensure our clients remain at the forefront of the industry.
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