Global BOPET film market to grow by almost six per cent per annum by 2023

The global BOPET film market has seen demand grow by 6.7 per cent per annum over the last five years and now sits at just over five million tonnes, according to research from Wood Mackenzie Chemicals.

As noted in the BOPET Film Global Supply Demand Report, the global market is currently balanced, and supplies from China and the growing influence of Indian-owned producers, as they continue to expand their operations globally, will continue to dominate.

Robert Gilfillan, Head of Films and Flexibles for Wood Mackenzie Chemicals, said: “Global demand for BOPET film is expected to grow at a healthy rate of 5.6 per cent per annum over the next five years.”

“Forecast growth in Asia is expected to be significantly higher, particularly in China and India, where we expect to see growth of 6.6 per cent per annum and nearly ten per cent per annum respectively.”

“The industry has announced significant new capacity to be installed in the market over the next five years. Despite this investment, new capacity will be required to meet our forecast demand growth rate.”

“With China and India set to remain central in driving the next investment cycle, further capacity from these two global powerhouses will impact production utilisation of local producers.”