Market Size of Latin America BOPP Films Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America BOPP Film Market Analysis
The Latin American BOPP films market (henceforth, referred to as the market studied) is expected to register a CAGR of 9.6% over the forecast period, 2021-2026. Bi-axially oriented polypropylene (BOPP) is a polypropylene film type that is biaxially oriented. The biaxial orientation enables the film to be stretched in both the machine direction (MD) and across machine direction (AMD). This results in increased toughness, increased stiffness, enhanced clarity, improved oil and grease resistance, and enhanced barrier properties to water vapor and oxygen, and modified impact resistance, low-temperature impact resistance, and flex crack resistance.
BOPP films are increasingly adopted in the fields of applications, like packaging, labeling, and lamination. These films are preferred substrates for food packaging across the world, owing to their inherent moisture barrier properties, sealability, high clarity, graphic reproduction, and shelf appeal, with the best possibilities of the pack being a monolayer/homogeneous structure.
The rising need to extend the shelf life of the products and maintenance of product quality, sustainability, aesthetics, and density are some of the significant factors that are propelling the vendors in the industry to adopt BOPP films. This is expected to fuel the market growth over the forecast period. Latin America is observing significant investment in BOPP manufacturing, as enterprise propensity toward local production is increasing.
Coronavirus outbreak is expected to have positive an impact on the packaging industry over the forecast period. The demand for plastic packaging, including BOPP, which limits the risk of contamination by reducing the exposure is expected to be favoured. In addition, the packaged products can be easily cleaned with the packaging on in case of any surface contacts.
The economic slowdown is expected to hit small businesses hard in the region, with the financial crisis in demand for their products and services in the region. Consumer products, retail, home appliances, shopping malls, car rentals, and auto parts are expected to witness major impact till the end of 2020.
