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.
Latin America BOPP Film Industry Segmentation
Bi-axially oriented polypropylene (BOPP) is a polypropylene-based film or sheet stretched across two axes in a sequential manner. These films are primarily employed in the food segment for the packaging of frozen food, meat and cheese, pet food, etc. It is also used in adhesive tapes, tobacco packaging, gift packaging, cosmetics packaging, and other applications that drive the market growth.
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Latin America BOPP Films Market Size Summary
The Latin American BOPP films market is poised for significant growth, driven by the increasing adoption of bi-axially oriented polypropylene films in various applications such as packaging, labeling, and lamination. These films are favored for their superior properties, including enhanced toughness, stiffness, and barrier capabilities, making them ideal for food packaging due to their moisture barrier and sealability features. The market is experiencing a surge in demand, particularly in Brazil and Mexico, as the region witnesses a growing need for packaged food products. This demand is further bolstered by the rising focus on product quality, sustainability, and the aesthetic appeal of packaging solutions. The economic landscape in Latin America, characterized by increasing disposable incomes and urbanization, is also contributing to the market's expansion, with flexible packaging becoming a preferred choice among consumers and businesses alike.
The competitive landscape of the Latin American BOPP films market is becoming increasingly fragmented, with key players such as Biofilm, Taghleef Industries, and Oben Holding Group expanding their production capabilities to meet the rising demand. Strategic initiatives, including acquisitions and partnerships, are enhancing the market's supply chain and production capacity. For instance, Taghleef Industries' acquisition of Biofilm has solidified its position as a leading supplier in the region, while collaborations like that between Innovia Films and Wildcorn are setting new standards in sustainable packaging. The market's growth trajectory is supported by the ongoing investments in local production facilities and the increasing preference for flexible packaging solutions, which are expected to continue driving the market forward in the coming years.
Latin America BOPP Films Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Industry Value Chain Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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1.4 Market Drivers
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1.4.1 Rising Demand for Packaged Food Products and Beverages
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1.5 Market Challenges
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1.5.1 Slow Economic Growth in the Region
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1.6 Assessment of Impact of Covid-19 on the Industry
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2. MARKET SEGMENTATION
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2.1 End-user vertical
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2.1.1 Flexible Packaging
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2.1.1.1 Food
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2.1.1.2 Non-food
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2.1.2 Industrial
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2.1.2.1 Lamination
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2.1.2.2 Adhesives
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2.1.2.3 Capacitors
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2.1.3 Other End-user Verticals
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2.2 Geography
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2.2.1 Brazil
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2.2.2 Argentina
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2.2.3 Mexico
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2.2.4 Rest of Latin America
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Latin America BOPP Films Market Size FAQs
What is the current Latin America BOPP Films Market size?
The Latin America BOPP Films Market is projected to register a CAGR of 9.60% during the forecast period (2024-2029)
Who are the key players in Latin America BOPP Films Market?
Opp Film (Oben Holding Group), Biofilm (Taghleef Industries (Ti)), Altopro S.A. de C.V., Vitopel and Innovia Films are the major companies operating in the Latin America BOPP Films Market.
