Biaxially-oriented Polyester (BoPET) Market to Witness Exponential Growth by 2026
Biaxially-oriented
Polyethylene Terephthalate (BoPET) is a film made from PET. It is
manufactured by stretching polyethylene terephthalate in two
different directions. The resulting film is transparent and has water
resistant capabilities. Biaxially-oriented polyester (BoPET) also
possess high tensile strength, good chemical resistance, and aroma
and gas barriers. It is extensively used as a protective covering
over paper and food packaging. biaxially-oriented polyester (BoPET)
film is primarily made from Monoethylene glycol MEG and purified
terephthalic acid (PTA). The film is widely utilized in various
end-uses such as packaging, and industrial specialty, due to its
excellent performance. The global biaxially-oriented polyester
(BoPET) market is expanding rapidly, especially in developing
countries such as China. The country has witnessed increase in the
production capacity for biaxially-oriented polyester (BoPET) films in
the last few years. The global biaxially-oriented polyester (BoPET)
market is moderately fragmented in terms of manufacturers and
consumers due to wide usages and low technology barriers.
Read
Report Overview @
Biaxially-oriented
Polyester (BoPET) Market: Drivers & Restraints
Extensive
usage of biaxially-oriented polyester (BoPET) in packaging is
anticipated to drive the market in the near future. This is
encouraging companies to increase the production of
biaxially-oriented polyester (BoPET). Furthermore, easy availability
of raw materials is anticipated to boost the demand for global
biaxially-oriented polyester (BoPET) market in the near future.
The
global BoPET market is witnessing technological advancements.
Companies are striving to develop new and better ways to manufacture
biaxially-oriented polyester (BoPET). Development of new
manufacturing processes of biaxially-oriented polyester (BoPET) is
estimated to propel the global biaxially-oriented polyester (BoPET)
market in the near future. However, volatility in prices of raw
materials is projected to hamper the global biaxially-oriented
polyester (BoPET) market during the forecast period.
Biaxially-oriented
Polyester (BoPET) Market: Key Segments
Based
on type, the global biaxially-oriented polyester (BoPET) market can
be segmented into universal film, electrical insulating film,
capacitor film, and laminating film. The universal film segment is
anticipated to expand at a significant pace owing to the rise in
demand for high-quality biaxially-oriented polyester (BoPET) in
emerging economies such as India and China.
In
terms of application, the global biaxially-oriented polyester (BoPET)
market can be divided into packaging, industrial specialties,
electrical, imaging, and others. The packaging segment is estimated
to expand at a considerable pace due to the increase in demand for
packaged food products across the global biaxially-oriented polyester
(BoPET) market.
Biaxially-oriented
Polyester (BoPET) Market: Regional Outlook
Based
on region, the global biaxially-oriented polyester (BoPET) market can
be split into North America, Latin America, Asia Pacific, Europe, and
Middle East & Africa. North America and Europe are anticipated to
constitute large share of the global biaxially-oriented polyester
(BoPET) market during the forecast period. The global
biaxially-oriented polyester (BoPET) market in Asia Pacific is likely
to expand at a significant pace due to the rise in the per capita
income in the developing countries such as China and India in the
region. Increased per capita income results in increased spending
power of the consumer which further increases demand for high quality
consumer products. This increasing demand for the high quality
consumer products is anticipated to fuel growth in the global
biaxially-oriented polyester (BoPET) market in the Asia Pacific
Region. Middle East & Africa is expected to be an attractive
region of the global biaxially-oriented polyester (BoPET) market
during the forecast period due to the rise in demand for
biaxially-oriented polyester (BoPET) in industrial applications in
the region.
Request
to view Sample Report:
Biaxially-oriented
Polyester (BoPET) Market: Key Players
Prominent
players operating in the global biaxially-oriented polyester (BoPET)
market include Toray Industries, Inc., SKC Inc., E. I. du Pont de
Nemours and Company, and Teijin Limited. These players engage in
research & development activities, strategic alliances, and
mergers & acquisitions to expand their market share.
Comments
Post a Comment