Metalized Biaxially Oriented Polypropylene Films Market Growth & Trends

The global metalized biaxially oriented polypropylene films market size is anticipated to reach USD 8.5 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% from 2020 to 2027. Rising demand for packed food products and electronics is expected to drive the demand for metalized biaxially oriented polypropylene (MBOPP) films over the forecast period.

Demand for MBOPP films is expected to increase majorly in the medical packaging, a sub-segment of the packaging application segment, owing to the growing number of COVID-19 positive cases. Demand for medical and healthcare products has increased owing to the safety and hygiene required to tackle the pandemic situation. Amid the global COVID-19 pandemic situation, demand for electronic products, such as laptops and mobiles, has increased as companies are following work from home and educational institutions have shifted from classroom learning to online classes. The growth in the demand for electronic products is expected to drive the market over the forecast period.

The market in the Asia Pacific is anticipated to witness the highest growth over the forecast period owing to various factors such as the presence of government initiatives, such as Make in India, Atmanirbhar Bharat ( self-dependent India), along with a rising number of manufacturers of consumer goods, electronic components, and medical and healthcare products and rising R&D investments for developing new applications of MBOPP films by private as well as public organizations. In addition, various electronic products and medical and healthcare product manufacturing companies have started looking towards India for establishing manufacturing facilities post COVID-19 pandemic situation.

Metalized Biaxially Oriented Polypropylene Films Market Report Highlights

  • In terms of revenue, the packaging application segment is expected to register the highest CAGR over the forecast period. This is attributed to the rising demand for high-quality packaging solutions for food and beverages, personal care, and electronic products
  • The electronics and insulation application segment accounted for almost 12.0% share of the overall revenue in 2019. This is attributed to rising demand for lightweight and durable electronics and well electrically insulated products to improve the heat loss and enhance the performance of the electronic components and products
  • Asia Pacific accounted for over 54.0% share of the overall revenue in 2019. The market in China is expected to register a revenue-based CAGR of 6.9% from 2020 to 2027.