Biaxially Oriented Polyethylene Terephthalate Market Size Forecast to Reach $5.86 Billion by 2025

October 12, 2020
Debramiller415

Biaxially Oriented Polyethylene Terephthalate (BoPET) Market size is forecast to reach $5.86 billion by 2025, after growing at a CAGR of 7.1% during 2020-2025. With its inherent properties of being clear, transparent, flexible and strong despite being lightweight owing to this the Biaxially Oriented Polyethylene Terephthalate market is witnessing an increase in demand. Although concerns around environmental issues and plastic packaging continue to plague flexible packaging suppliers and hence Biaxially Oriented Polyethylene Terephthalate (BoPET) market.

Key Takeaways

  • Asia-Pacific dominates the Biaxially Oriented Polyethylene Terephthalate market (BoPET) owing to the rapid urbanization.
  • Urban people have adopted a modern way of living, which contributed to the increase in BoPET film consumption as a premium product for various household purposes, including packaging, which is likely to aid in the market growth of Biaxially Oriented Polyethylene Terephthalate (BoPET).
  • Implementation of stringent government regulations related to sustainable and environment friendly products will be the small hurdle for Biaxially Oriented Polyethylene Terephthalate (BoPET) market.
  • COVID 19 pandemic will create an oscillating market for Biaxially Oriented Polyethylene Terephthalate market (BoPET), first by decreasing and then by increasing due to the lockdown situation globally.

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Geography – Segment Analysis

APAC dominated the Biaxially Oriented Polyethylene Terephthalate market. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, owing to the rapid urbanization. Rapid urbanization has led to the continuous changes in people’s lifestyles. Urban people have adopted a modern way of living, which contributed to the increase in BoPET film consumption as a premium product for various household purposes, including packaging.

Drivers – Biaxially Oriented Polyethylene Terephthalate Market

  • Easy Availability of Raw Materials
  • Increase in demand from Environmental Friendly product

Market Landscape

Major players in the Biaxially Oriented Polyethylene Terephthalate Market are Toray Industries, Inc., SKC Inc., E. I. du Pont de Nemours and Company, and Teijin Limited, among others.

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