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High Technology and Green Energy Products Help Drive BOPET Film Demand

The BOPET film market continues its positive growth trajectory with global demand growing by almost 2 million tons over the last five years, according to a new report from leading industry consultants, AMI Consulting. Both existing and new players are investing in production capacity to capitalize on this growth with BOPET film demand reaching over 7 million tons in 2022.

BOPET manufacturers are setting out on the race to supply the manufacture of the next generation of high technology and green energy products. Traditionally used in packaging, technical and non-packaging applications are emerging as the better growth opportunity for BOPET film in the next five years, with 5 percent growth expected to 2027, compared with 3 percent for packaging films. The stand-out growth application for BOPET in volume terms continues to be photovoltaics, although low prices which continue to offer limited investment opportunities. Supportive government policies may yet persuade those who exited this market to re-enter and support the regional development of green energy industries.

Electrical applications are forecast to show ongoing healthy growth, thanks to new battery applications, the growth in flexible electronics and new energy segments. To serve a greater range of growth opportunities, thin film lines are being stretched to their limits and modified to produce both thinner and thicker BOPET films, used in various multi-layer structures depending on the application to meet specific technical and functional requirements. BOPET has a broad appeal in the electrical industry due to its favorable combination of high dielectric strength, mechanical and chemical properties and competitive price. Investment has increased in high-value growth areas such as battery related applications and newer developments include BOPET based composite current collector films, MLCC release films and other BOPET films in the high-value electrical segment.

Government support, industry investment and the high growth potential of new technologies and new energy markets are encouraging the establishment of more localized manufacturing industries across the globe. There is a strong trend among manufacturers to diversify their manufacturing and sourcing supply chains, keeping some manufacturing in China, while also establishing production in other regions and countries such as Vietnam, India, or Mexico, where the large workforce and lower costs are attractive. In developed regions, automation efforts continue to increase within production and there is a strong focus on high-value R&D.

The BOPET market remains attractive in the longer term both for existing players, who continue to invest in broadening their product ranges for new applications and for new producers aiming to benefit from the growth of industrial BOPET markets. Both packaging and industrial markets are anticipated to exceed global GDP growth in the forecast period with many converters and end-users optimistic about the continued growth in demand for BOPET.

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