Market Trends of China Plastic Packaging Film Industry
BOPET Films are Expected to Witness Robust Market Demand
- Biaxially oriented polyethylene terephthalate (BOPET) film plays a pivotal role in flexible packaging and various industrial applications. Its thermal stability, transparency, and robust barrier properties, coupled with high mechanical strength, underscore its indispensability across sectors. From food packaging and electronics to medicine and construction, BOPET's versatility finds widespread applications.
- BOPET film's exceptional gas, odor, and moisture barrier properties have propelled its popularity in food packaging in China. Its neutral odor and taste make it a safe choice for direct contact with food, extending its freshness. Moreover, the film's versatility enables various packaging options, enhancing both convenience and sustainability. These packaging solutions span from snack pouches to containers for ready-to-eat meals.
- According to Agriculture and Agri-Food Canada, the retail sales value of packaged food in China has increased in the past few years and is expected to rise from USD 298.01 billion in 2020 to USD 366.75 billion by 2025. Such an increase in packaged food is expected to boost the demand for BOPET films that can extend the shelf-life of packaged food.
- China's BOPET film suppliers play a pivotal role in supplying the electronics industry with BOPET film. This film is instrumental in creating insulating materials and flexible printed circuit boards (PCBs). With its exceptional dielectric properties and thermal stability, BOPET ensures the reliability and longevity of electronic applications. Its heat resistance and dimensional stability make BOPET ideal for insulating tapes, capacitors, and cable wraps, safeguarding electronic components and extending their lifespan.
- Zhejiang Yongsheng Technology Co. Ltd, a prominent player in China's BOPET film market, bolstered its partnership with Goebel IMS, a brand under IMS Technologies. The collaboration saw Zheijiang Yongsheng ordering two more primary slitter rewinders for BOPET conversion. This expanded agreement encompasses the initial order and includes two advanced models, the MONOSLIT 9000 BOPET and the MONOSLIT GIANT 11000 BOPET, marking a significant milestone for both companies.
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Demand From the Dairy Packaging Sector Aids in Market Growth
- Consumers in developing countries like China are increasingly favoring nutrient-dense dairy products like cheese, milk, and yogurt, seeking heightened nutrition. These products have a longstanding reputation for being rich in vitamins, proteins, and easily absorbable calcium. Dairy products contain various biologically functional components; this factor is expected to help boost the market’s growth over the forecast period.
- The surge in milk production is poised to spur innovations in flexible packaging, especially packaging films tailored to the unique demands of dairy producers and consumers. These innovations encompass enhanced barrier technologies for prolonged shelf life, added convenience features for easier handling, and sustainability measures aimed at curbing environmental footprints.
- According to the National Bureau of Statistics of China, the country is the world's fourth-largest dairy producer and Asia's second-largest. It saw a notable surge in its dairy output in 2023. The country's production of cow's milk hit approximately 42 million metric tons, marking a significant uptick from its average annual output of 30.97 million metric tons in 2018. This constant rise in milk production is expected to bolster the demand for packaging films across the country in the upcoming years.
- Given their susceptibility to bacteria, the demand for protection for milk and dairy products is higher than for water and other liquids. Consequently, manufacturers nationwide are pioneering high-barrier films, ensuring both convenience and enhanced preservation for the milk they encase.
- In August 2023, Dow collaborated with China's prominent dairy player, Mengniu, to introduce a mono-material PE yogurt pouch. This innovative product was designed to bolster China's circular economy efforts, specifically targeting higher recyclability rates. Mengniu, in partnership with Dow, harnessed the power of Dow’s INNATE TF-BOPE resins. These resins, crafted through biaxially oriented manufacturing, significantly enhance barrier properties in mono-material films.
