The North America BOPET films market size is estimated to be worth USD 1.87 billion in 2024 and is anticipated to reach a value of USD 2.79 billion by 2034. Sales are projected to rise at a CAGR of 4.1% over the forecast period between 2024 and 2034. The revenue generated by BOPET films North America in 2023 was USD 1.80 billion.
The food industry is leading consumer of BOPET films in North America. It is estimated to capture more than 35% of value share in forecast period. This is mainly because its superior barrier properties protect food against moisture, oxygen, and light, thus achieving longer shelf life.
BOPET films are lightweight yet have high tensile strength, making them very useful for flexible packaging solutions when even small amounts of material are to be used but are effective at protecting the integrity of the product. More attractive designs may also be achieved with clear BOPET films, which further enhances the appearance of products on store shelves.
With the overriding interest of consumers in convenient and sustainable food packaging, BOPET films remain one of the fastest-growing applications for food.
BOPET Films Industry Forecast
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 1.80 billion |
| Estimated Size, 2024 | USD 1.87 billion |
| Projected Size, 2034 | USD 2.79 billion |
| Value-based CAGR (2024 to 2034) | 4.1% |
By packaging type, films and wraps are capturing more than 1/3rd of the market share in forecast years. Such packaging solutions offer excellent barrier properties against moisture, air and light parameters that are more than necessary while keeping the integrity and shelf-life of different products, particularly in the food category.
Demand for lightweight and space-efficient packaging has also increased their usage as films and wraps that save on storage and transportation cost. The future trend of sustainable options in packaging is also pushing manufacturers to develop recyclable BOPET films.
The trend for convenient functional packaging is also changing the preferences of customers, and films and wraps are at the forefront of this trend.
The North America BOPET films industry could see encouraging growth in the forecast period. It is estimated to present an incremental opportunity of USD 991.5 million and is expected to surge 1.5 times the current market value through 2034.
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The below table presents the expected CAGR for the North America BOPET films market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 4.5%, followed by a slightly higher growth rate of 4.0% in the second half (H2) of the same decade.
| Particular | Value CAGR |
|---|---|
| H1 | 4.5% (2023 to 2033) |
| H2 | 4.0% (2023 to 2033) |
| H1 | 4.3% (2024 to 2034) |
| H2 | 4.6% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to decrease slightly to 4.3% in the first half and remain relatively moderate at 4.6% in the second half. In the first half (H1) the market witnessed a decrease of 50 BPS while in the second half (H2), the market witnessed an increase of 30 BPS.
Growth in Food & Beverage Sector Spurring Demand for BOPET Films Solutions
The growth in the North American food and beverages industry is offering great opportunity for increasing demand for BOPET films-based packaging solutions. As consumers become more inclined toward convenient foods, ready-to-eat meals, and fresh produce, demand for more flexible, high-barrier packaging film is growing further.
BOPET films, owing to their great barrier towards moisture, excellent transparency, and light weight, assume primary significance in food packaging in the form of snacks, bakery products, frozen foods, and fresh produces. They also offer cost efficiency and environmentally friendly advantage through recyclability and lesser material use against conventional packaging materials.
In the beverage industry, BOPET films are primarily used in labeling applications, especially for non-alcoholic beverages packaged as bottled water, juices, or soft drinks.
E-commerce grocery shopping and food delivery services are propelling the demand for sturdy, lightweight package weights that can face the challenges of handling and transportation. BOPET films appear to be at the forefront in North America's ever-burgeoning food and beverage industry.
Expansion into Specialty Coatings offer Expansion Opportunity
Expansion into specialty coatings can be one of the growth opportunity for BOPET films in the North American market. Specialty coatings offer functionality in the application of BOPET films, which can then be used in niche applications. For example, electronic and car applications of BOPET films being developed with anti-glare, anti-scratch, and UV-blocking coatings.
This kind of coating helps to increase the strength and protectiveness of such films, thus it is applicable in screen display applications, the automotive interior, and protective covers of electronics. The BOPET films with specialty coatings can meet these needs based on improved performance characteristics such as optical clarity, chemical resistance, and moisture barrier properties.
An increase in interest in specialty coatings to make BOPET films recyclable or biodegradable has also been seen due to the trend within the region toward sustainable packaging solutions. The expansion caters to diversified industry needs, in accordance with the region's emphasis on sustainability and innovation, positioning BOPET films with specialty coatings as a major growth area in the North American market.
The Energy-Intensive Production Process of BOPET Films Hamper Growth
The production process of BOPET films is rather energy-intensive with several steps involved, particularly extrusion, biaxial orientation, and heat setting. This might consume much electricity and thermal energy.
Such a high energy usage would increase operating costs for the manufacturers, making the final product expensive. Moreover, this energy intake elevates the carbon emissions quite high, and the industry is very worried about its climatic footprint in today's scenario with much emphasis on sustainability.
Carbon footprint in the production process has remained a great challenge as of late with increased pressure on companies to reduce the rate of emissions. The cost efficiency, therefore needs to be mixed with environmental standards.
Principal Consultant
The North America BOPET films market recorded a CAGR of 2.4% during the historical period between 2019 and 2023. Market growth of North America BOPET films was positive as it reached a value of USD 1.8 billion in 2023 from USD 1.6 million in 2019.
The North American BOPET films market generally continued steady growth, mainly because of increased demand from the food packaging industry due to demand for light, strong, and transparent materials.
The disruption caused by the COVID-19 pandemic in 2020 briefly impacted supply chains; however, increase in demand for packaged food and e-commerce deliveries served as a counterbalance to some initial downturns. Moreover, an increasing awareness of customers about green packaging, BOPET films' recyclability became a crucial feature to be possessed by brands in an effort to reduce their environmental footprints.
The improvement of coating technologies of film and barrier properties helped it keep its competitive edge over rival variants like BOPP films, even though profit margins took some hits at the hands of fluctuating PET resin prices.
Growth in demand for BOPET films would be higher in forecast period as there would be a shift towards sustainable and recyclable packaging due to regulatory pressure on plastic waste and carbon emissions.
Food packaging will continue to remain the main growth driver, whereas new applications in pharmaceutical, electronics, and solar panels will continue to expand the scope of the market.
Manufacturers will be compelled to adopt more energy-efficient production technologies in order to further reduce their costs of operations while attracting environmentally sensitive customers and regulatory bodies.
A higher level of development of multi-layered BOPET films with enhanced barrier capabilities will be utilized to meet demand, protecting packaged products even better. Increased new entrants into the market may allow BOPET films to be reached into other industries at competitive prices, but this may also reduce profitability.
Production capacities in North America will expand for long-term growth in the market, considering regional partnerships are expected to grow in the forecast periods.
Tier 1 companies comprise market leaders with a market revenue of above USD 50 million capturing significant market share of 12% to 16% in North America market. These market leaders are characterized by high production capacity and a wide product portfolio.
These market leaders are distinguished by their extensive expertise in manufacturing across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base. They provide a wide range of series including recycling and manufacturing utilizing the latest technology and meeting the regulatory standards providing the highest quality.
Prominent companies within tier 1 include Cosmo Films, Inc., Innovia Films, Uflex Limited and Jindal Films Americas LLC.
Tier 2 companies include mid-size players with revenue of USD 5 to 50 million having presence in specific regions and highly influencing the local market. These are characterized by a strong presence overseas and strong market knowledge.
These market players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach. Prominent companies in tier 2 include Toray Plastics (America), Inc., Oben Holding Group, Taghleef Industries, Dunmore Corporation, Inteplast Group, Polyplex USA LLC, Polibak Plastics American, Inc., Transcendia, Inc.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche markets having revenue below USD 5 million. These companies are notably oriented towards fulfilling local market demands and are consequently classified within the tier 3 share segment.
They are small-scale players and have limited geographical reach. Tier 3, within this context, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
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The section below covers the future forecast for the North America BOPET films market in terms of countries.
| Country | Value CAGR (2024 to 2034) |
|---|---|
| USA | 3.8% |
| Canada | 4.3% |
| Mexico | 5.1% |
USA BOPET films demand is anticipated to capture 3.8% growth rate and capture prominent market share in North America.
USA Census Bureau states that food sector sales in the USA rose from USD 701 billion in February 2024 to USD 697 billion in 2023. Increasing demand of the food sector always boosts the development of packaging materials, like BOPET films, that are strong, transparent, and resistant to various barriers.
The interests of food companies regarding shelf life and freshness of products favor packaging solutions with BOPET films, which is one of the favorites of the industry. Again, higher growth in the food sector always entails higher adoption of advanced and sustainable packaging solutions. Increasing demand thus supports the expansion of BOPET films in the USA
Canada offers a lot of opportunities for the North America BOPET films market in the country. The country is anticipated to record a CAGR of 4.3% during the evaluation period.
Pharmaceutical sales in Canada have a 2.2% share of the global market, making Canada the 8th largest world market, according to Canada.ca. BOPET films are used widely in the pharmaceutical industry to package the products with high barrier properties preventing the entry of moisture, oxygen, and contamination. The high sales of pharmaceuticals also enhance the demands for safe and strong packaging that fuels the usage of BOPET films in blister packs and medical packaging.
The increased focus on product integrity and having them up to the regulatory standards promotes this demand. Demand for BOPET films is being increased with the growth of the pharmaceutical sector in the country.
The section contains information about the leading segments in the industry.
| Material | Standard BOPET Films |
|---|---|
| Value CAGR (2034) | 3.7% |
Standard BOPET films expected to lead the North America BOPET films market during the forecast period. It are anticipated to rise at a CAGR of 3.7% and generate a valuation of around USD 1.2 billion by the end of 2034. Standard BOPET films are likely to continue to hold a prominent position in the North America BOPET films market during the forecast period due to their versatility and wide applicability in most industry domains.
These films offer good barrier properties, making them very useful for packaging food, pharmaceuticals, and consumer goods, ensuring steady demand. Light weight and durability eliminate transportation costs, plus it supports extension of shelf life for the product.
With greater environmental pressure on producing environmentally friendly packaging solutions, the appeal of standard BOPET films lies in their recyclable and reusable nature.
| Thickness | 15 to 30 micron |
|---|---|
| Value CAGR (2034) | 4.2% |
15 to 30 micron thickness is estimated to lead the North America BOPET films market with a CAGR of 4.2% and estimated to account 47.4% share till 2034. 15 to 30 microns is considered the leader of North America BOPET films market because it has offered the best balance of strength and flexibility, hence ideally suited for a wide variety of applications.
That thickness provides outstanding barrier properties of water, oxygen, and light, which are extremely important in retaining product quality in food and pharmaceutical packaging. With this thickness, the second advantage of films is that they are light-weighted.
This makes shipping cost lower and efficient in packaging, and it serves a growing trend for consumer demand that prefers flexible packaging solutions within food and beverages sectors as the product durability is enhanced.
Key players of North American North America BOPET films industry are developing and launching new products in the market. They are integrating with different firms and extending their geographical presence. Few of them are also collaborating and partnering with local brands and start-up companies for new product development.
Key Developments in BOPET Films Market
In terms of thickness, the North America BOPET films market is divided into below 15 micron, 15 to 30 micron, 30 to 50 micron, and above 50 micron.
North America BOPET films segmented as standard BOPET films, metallized BOPET films, coated BOPET films, heat-sealable BOPET films, and UV-resistant BOPET films.
North America BOPET films market segmented as films & wraps, bags & pouches, tapes & lids, labels, liners, blister packs, and laminates.
North America BOPET films market segmented as food, beverage, pharmaceutical and medical packaging, personal care & cosmetics, other consumer goods, electronics components, automotive, printing & lamination, solar and renewable energy, decorative and security, and other industrial.
Key countries of North America such as USA, Canada and Mexico are covered.
The North America BOPET films industry is projected to witness CAGR of 4.1% between 2024 and 2034.
The North America BOPET films industry stood at USD 1.8 billion in 2023.
North America BOPET films industry is anticipated to reach USD 2.7 billion by 2034 end.
Mexico is set to record a CAGR of 5.1% in assessment period.
The key players operating in the North America BOPET films industry are Toray Plastics (America), Inc., Oben Holding Group, Taghleef Industries, Dunmore Corporation, Inteplast Group, Polyplex USA LLC, Polibak Plastics American, Inc., Transcendia, Inc.
1. Executive Summary 2. Industry Introduction 2.1. Market Taxonomy 2.2. Market Definition 3. Market Trends and Success Factors 4. Market Background 4.1. Macro-economic and Industry Outlook 4.2. Market Dynamics 4.3. Value Chain Analysis 4.4. List of Key Market Participants (Manufacturers/Channel Partners) 4.5. Analysis of Key Industry Matrices 4.6. Industry Development Roadmap 5. Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034 5.1. Historical Market Volume Analysis 5.2. Future Market Volume Projections 6. Pricing Analysis 7. Market Value (USD) Analysis 2019 to 2023 and Forecast 2024 to 2034 7.1. Historical Sales Analysis 7.2. Future Market Size and Growth Projections 8. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Thickness 8.1. Below 15 micron 8.2. 15 to 30 micron 8.3. 30 to 50 micron 8.4. Above 50 micron 9. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Material 9.1. Standard BOPET Films 9.2. Metallized BOPET Films 9.3. Coated BOPET Films 9.4. Heat-sealable BOPET Films 9.5. UV-resistant BOPET Films 10. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Packaging Type 10.1. Films & Wraps 10.2. Bags & Pouches 10.3. Tapes & Lids 10.4. Labels 10.5. Liners 10.6. Blister Packs 10.7. Laminates 11. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use 11.1. Food 11.1.1. Snacks & Confectionery 11.1.2. Bakery Products 11.1.3. Fresh Produce 11.1.4. Frozen Foods 11.1.5. Other Food Products 11.2. Beverage 11.2.1. Alcoholic Beverage 11.2.2. Non-Alcoholic Beverage 11.3. Pharmaceutical and Medical Packaging 11.4. Personal Care & Cosmetics 11.5. Other Consumer Goods 11.6. Electronics Components 11.7. Automotive 11.8. Printing & Lamination 11.9. Solar and Renewable Energy 11.10. Decorative and Security 11.11. Other Industrial 12. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Country 12.1. USA 12.2. Canada 12.3. Mexico 13. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market and Country 14. Sales Analysis 2024 & 2034 by Key Market Segments for 30 Countries 15. Competition Outlook including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 16. Company Profile 16.1. Mondi plc 16.2. Cosmo Films Inc. 16.3. Polyplex Corporation 16.4. Dunmore 16.5. Innovia Films 16.6. Taghleef Industries 16.7. Uflex Limited 16.8. Jindal Films Americas LLC 16.9. Toray Plastic America, Inc. 16.10. Oben Holding Group 16.11. Inteplast Group 16.12. Polibak 16.13. Jerrett Industries 16.14. Transcendia, Inc. 16.15. Trico Specialty Films 16.16. NNZ Group 16.17. Alte-Rego Corporation 16.18. Peligraf 16.19. Films PP S.A. De C.V. 16.20. Futamura USA, Inc. 16.21. Garware Hi-Tech Films Limited 16.22. Polinas Plastics of America Inc.
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North America BOPET Films Market
