BOPET, Biaxially-Oriented Polyethylene Terephthalate, film made from PET is stretched in two different directions. The resulting film is water resistant and typically transparent. It is known for its high tensile strength, good chemical resistance, and gas and aroma barriers. It is typically used for food packaging and as a protective covering over paper.
BOPET film is mainly made from PTA and MEG. Due to its good performance, the product is widely used in many fields. Among various applications, packaging is the largest consumption field, which accounted for 61.68% share in 2017 globally.
The global BOPET film
market is worth over 10770 million USD in 2017. Global production volumes increased from 3993.6 K MT in 2013 to 5255.1 K MT in 2017. The industry is in a rapid stage of development, especially in China. China has witnessed more and more capacity being released in the recent few years. Due to low technology barrier and wide usages, the industry is relatively fragmented in terms of manufacturers and consumers. The remarkable indicator of BOPET when purchased is its thickness. Different thickness will fit to the certain application fields.
China and Korea lead the production of BOPET for the time being. The two regions contributed about 54.61% production in 2017. Toray, SKC Films, DuPont Teijin Films, etc. are leaders in the BOPET industry. In fact, many manufacturer engaged in the production of BOPET have extended their industry chain actively. From the raw materials to the downstream products, many companies have developed related business in order to promote their business development.
As for the consumption, China is the largest consumption region, with 43.11%% share in 2017, followed by North America, whose consumption volume reached to 585.2 K MT in the same year. Although BOPET film price is much higher than some other films, due to its excellent performance, BOPET film is widely accepted by consumers. It is estimated that BOPET consumption volume will keep the expanding trend in the coming years.
There is no doubt that PTA and MEG price fluctuations influence the price trend of BOPET film largely. Impacted by the increasing price of raw materials, price of BOPET also rebounded in the second year of 2017.
Considering the current demand of BOPET film, market participants think the industry has a promising market space. The global BOPET market will keep increasing with an estimated value of 19255 million USD in 2024, with the CAGR of 8.65% during 2017 to 2024.