The polypropylene film market is anticipated to grow at a CAGR of 8.3% during the forecast period. Polypropylene films are low-cost thermoplastics with good transparency, gloss, and tensile strength. Polypropylene films very are well suited for a broad range of applications in flexible packaging as well as industrial, cosmetic and automotive applications. Growth in the medical & pharmaceutical market across the globe will also foster the growth of the polypropylene films market. In addition to this, due to the chemical inheritance nature of the polypropylene films, these are also best suited for the food packaging application.

Moreover, the expected increasing demand for capacitors in the electric vehicle is expected to provide significant opportunities to the polypropylene film market during the forecast period. As per OMR Analysis, the electric vehicle market industry is expected to grow at a CAGR of around 20% during the forecast period. However, the fluctuation in the prices and supply of raw materials is one of the major challenges for the polypropylene films market shares.

Segmental Outlook 

The global polypropylene film market is segmented based on product type and application. Based on the product type, the market is sub-segmented into Cast Polypropylene (CPP) and Bi-Axially Oriented Polypropylene (BOPP). Based on the application, the market is sub-segmented into packaging, capacitors manufacturing, medical & pharmaceutical, and others.

The bi-axially oriented polypropylene (BOPP) segment will grow with a lucrative growth rate 

The bi-axially oriented polypropylene (BOPP) segment is anticipated to grow with a significant CAGR in the polypropylene film market owing to its high demand from the flexible packaging sector. In addition to packaging, BOPP films also have a wide range of applications in labeling, and lamination. BOPP is also used in the manufacturing of tobacco film, electrical film, pearl film, and many more. This is anticipated to significantly drive the growth of the BOPP segment in the polypropylene films market.

Global polypropylene films Market Share by product type, 2020 (%)

Regional Outlooks

The global polypropylene films market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold a major market share in the polypropylene films market during the forecast period. It is due to the high demand from the regions developed application industries. Moreover, the increasing preference for eco-friendly polymer by automobile manufacturers will also significantly contribute to the polypropylene film market in the region. 

Global Polypropylene Films Market Growth, by Region 2020-2026

Asia-Pacific will augment with the fastest growth rate in the polypropylene films market 

Asia-Pacific is anticipated to show the fastest growth rate in the polypropylene films market owing to the region's rapidly growing pharmaceutical industry and electric vehicle industry. India and China hold a major share of the global pharmaceutical industry by supplying a significant amount of drugs and other medical supplies to countries across the globe. In addition to this, the presence of globally recognized supplier of polypropylene films such as B.C. Jindal Group, UFlex Ltd., Polyplex Corp. Ltd., Cosmo films Ltd. and others in Asia-Pacific will also drive the growth of the polypropylene films market. Moreover, growth in the electric vehicle in the region is also contributing to the growth of the regional market. As of 2019, China holds around 50% market share in the global electric vehicle industry and a significant global market share is expected to be maintained by China in the EV industry during the forecast period. It will provide significant demand for polypropylene films in the regional market.  

Market Players Outlook

The key players of the polypropylene films market include B.C. Jindal Group, CCL Industries Corp., Mitsui Chemicals Tohcello. Inc., Toray Industries, Inc., Plastchim-T, Treofan Group, Cosmo Films Ltd., Amcor PLC, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including merger & acquisition, expansion, funding to the start-ups, and new product launches to stay competitive in the market. 

Recent Activities

• In January 2020, CCL Industries Corp. has acquired Flexpol for around $22 million. Flexpol has a significant presence in the BOPP film market hence, the acquisition will enable the company with the new capability to deliver label film solutions especially in the European market.
• In January 2019, Taghleef Industries SpA has completed the acquisition of Biofilm which is engaged in producing BOPP films for flexible packaging, labels, and industrial applications. The acquisition will aid the company in expanding its presence in Latin America.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global polypropylene films market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.