BOPP film market set to register CAGRD of over 6%

MOSCOW (MRC) -- The global demand for BOPP film market was valued at USD10.81 bln in 2014 and is anticipated to generate revenue of USD15.55 bln by end of 2020, expanding at a CAGR of 6.3% between 2015 and 2020, as per Plastemart with reference to Zion Research.

In terms of volume, the global BOPP film market stood at 7.39 mln tons in 2014, as per Zion Research. BOPP film is most commonly used in candy wrappers, chips’ packaging, vitamin multi-packs, CDs and DVDs. BOPP film exhibit excellent physical and chemical properties such as elongation, superior tensile strength, excellent stability, improved optical properties, and improved barrier to water/gases.

BOPP films are used in broad range of applications including food & beverage packaging, medical packaging, personal care packaging, tamper evident films, etc. It is also utilized as substitute for of cellophane, waxed paper, and aluminum foil. The major driving factor for BOPP film market is expanding flexible packaging industry on global scale. In addition, advancing technologies coupled with shifting preference to specialty films for food packaging in developing economies is expected to fuel the growth of this industry. However, environmental issues related to BOPP film production is expected to limit the growth of this industry. Furthermore, enormous untapped market for BOPP films in emerging economies is expected to offer growth opportunities to manufacturers.

White/opaque/matt, metallized and transparent are the major product segments of BOPP film market. Transparent BOPP film was the leading product segment, which accounted for significant share of total volume consumption in 2014. White/opaque/matt is another important product segment of the global BOPP film market with around 13% share in total volume consumed in 2014. Metalized product segment expected to exhibit moderate growth rate over the forecast period. Growth of the metallized BOPP films can be primarily attributed to the rising demand owing to their characteristics like dimensional stability, clarity, thermal resistance and flatness.

Key application markets for BOPP film includes pressure sensitive tapes, biscuits/bakery products, confectionary, dried foods, tobacco, pasta/noodles and other. Dried food dominated the global BOPP film market in 2014. Pressure sensitive tape was the second largest application segment in the BOPP film market in 2014. The pressure sensitive tapes market witnessed a significant growth in the recent years, and this growth is projected to persist in the coming years. Biscuits/bakery products were another leading segment in the BOPP film market. BOPP films are widely used in food packaging, as these offer high barrier properties and are cost-effective and durable. BOPP films offers coatings with excellent barriers to oxygen, aroma and moisture vapour, thereby retaining the freshness of the biscuits/bakery product.

With over 45% shares in total volume consumption, Asia Pacific was the largest market in terms of production and consumption of bi-axially oriented polypropylene. Growing flexible packaging industry and changing consumer behavior is expected to drive the market in the region over the forecast period. In addition, shifting consumer preference towards flexible packaging and labeling of the consumer products is expected to fuel the market in the region.

Some of the key market players in the global BOPP film market include, Taghleef Industries, Jindal Poly Films, Nan Ya Plastics, Treofan, Vibac, Vitopel, Jiangsu Shukang Packing Material Co., Ltd., Futamura, Cosmo Films, Kopa Films, DuPont, Innovia Films and Ampacet Corporation.

As MRC reported previously, Led by demand in Asia, global consumption of bi-oriented polypropylene (BOPP) films averaged 6.2% growth per year over the last five years - almost twice average global GDP growth - and this trend will continue, according to the report by market research firm PCI Films Consulting Ltd.

Besides, global metalized biaxially oriented polypropylene (BOPP) films market is expected to witness significant growth over the next 7 years owing to growing demand from food and electronics packaging industry, as per GrandViewResearch.
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MOSCOW (MRC) -- Services provider Petrofac has awarded a contract to Bertin Technologies, a subsidiary of CNIM group, to supply, install and commission a pioneering gas leak tracking system, Second Sight, at the Saudi Aramco-owned Jazan refinery, reported Hydrocarbonprocessing.

This system opens up a new era in gas detection methods for the oil and gas industry, according to project officials.

Bertin Technologies says it has achieved a major breakthrough by customizing its own gas imaging camera. Initially developed for defense and civil security applications, Second Sight has been adapted to International Electrotechnical Commission Explosive (IECEx) hazardous areas and to Saudi Aramco standards.

To enhance the level of safety on site, Bertin Technologies will provide a turnkey solution that detects and monitors explosive gas clouds.

The Second Sight solution has been selected by Saudi Aramco and Petrofac because it offers several benefits that complement conventional gas detection methods. It provides, in real time, a complete scene visualization. In the case of an alarm activation, it localizes the leakage source and direction of the explosive gas cloud in the vicinity.

Explosive gas leaks are an ever-present risk that has to be managed at refineries. Any leak has the potential to accumulate into dangerous clouds that can ignite when they reach a certain concentration.

However, traditional point detectors do not always give a full and accurate picture of the chemical environment, according to Bertin officials A single explosive incident can cost billions of dollars and to mitigate against such an event, additional layers of gas detection are implemented.

"Bertin Technologies has been providing chemical and biological detection systems for more than 15 years in partnership with prestigious customers such as the French Department of Defense," said Philippe Demigne, president of Bertin Technologies. "With Second Sight technology, we have already built a portfolio of strong experience in the tracking and visualization of hazardous gas clouds for safety purposes.

"Thanks to a track record in the domain of large events surveillance, including the FIFA World Cup, or in monitoring public buildings from USA to South Korea , the technology has been used and proven in the field," he continued.

"While setting an advanced level in chemical and oil and gas safety standards, Bertin Technologies has demonstrated its agility in combining multiple fields of expertise in order to develop dedicated systems for demanding safety requirements."

As MRC wrote before, Saudi Aramco announced that its downstream investments would exceed USD100 billion over the next decade, as global demand for oil rises by a quarter in the next 25 years.

Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian national oil and natural gas company based in Dhahran, Saudi Arabia. Saudi Aramco's value has been estimated at up to USD10 trillion in the Financial Times, making it the world's most valuable company. Saudi Aramco has both the largest proven crude oil reserves, at more than 260 billion barrels, and largest daily oil production.
MRC

MOSCOW (MRC) -- The global demand for petrochemical market was valued at USD550 bln in 2014 and is expected to reach USD890 bln in 2020, growing at a CAGR of around 6.5% between 2015 and 2020, as per Plastemart with reference to MarketResearchStore.

Growing demand from key end user inductees including construction, packaging, transportation, textile, plastics, healthcare etc., coupled with favorable operating conditions mainly in the Middle East and Asia Pacific is expected to drive the global market for petrochemicals over the next five years. Strong growth of these end-use industries is the major driving factor for global petrochemical market. However, manufacturers are expected to face major challenges such as growing environmental concerns. Owing rapidly growing pollution and global warming concerns, use of petrochemicals is expected to decline. Nevertheless, rapidly depleting crude oil reserves is expected to present major challenge to the manufacturers. Moreover, growing awareness about environment safety and shift towards use of bio-based chemicals is expected to hold the growth of this market.

On the basis of product segment petrochemicals market is segmented into ethylene, propylene, butadiene, benzene, xylene, toluene, vinyl, styrene and methanol. Ethylene was the most dominating petrochemical product, accounting for about 25% of the global petrochemicals market in 2014. Ethylene is primarily used in the manufacture of polypropylene and propylene oxide. Methanol is projected to be the fastest growing segment from 2014 to 2020. Growth of methanol is directly related to its increasing usage in gasoline blending and methanol to olefins (MTO) processes.

Other petrochemicals such as butadiene, benzene, xylene, toluene, vinyl and styrene accounted for a significant portion of the global petrochemicals market share in 2013. With around 50% share in total volume consumption in 2014, Asia Pacific has emerged as leading market for petrochemicals. Growing demand for polymers and solvent, dyes, adhesives, paints and coatings in Asia Pacific is expected to fuel the growth of petrochemicals in the region.Petrochemicals market in Asia Pacific is led by China. Asia Pacific was followed by North America and Europe.

The manufacturing companies of petrochemicals have a significant impact on the value chain through a higher degree of forward integration. These companies manufacture raw materials as well as the final product and use it in various product types such as ethylene, propylene, butadiene, benzene, xylene, toluene, vinyl, styrene and methanol. BASF SE, ExxonMobil, The Dow Chemical Company, Shell Chemical Company, SABIC, Sinopec Limited, Lyondell Basell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC and E. I. du Pont de Nemours and Company are some important competitors in petrochemicals market. The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market.

We remind that, as MRC informed previously, the global petrochemical market is expected to reach USD758.3 bln by 2022, according to a new report by Grand View Research, Inc. Growth of key end-use industries such as construction and transportation particularly in BRIC nations is expected to remain a key driving factor for global petrochemical market.
MRC

MOSCOW (MRC) -- Emilio Lozoya has resigned as Petroleos Mexicanos’ chief executive officer after the oil giant failed to reverse falling output and reported 12 straight quarterly losses, reported Bloomberg.

Lozoya, 41, who took over as CEO of the state-owned producer in late 2012, will be replaced by Jose Antonio Gonzalez Anaya, President Enrique Pena Nieto said in Mexico City on Monday. Gonzalez, a Harvard-trained economist who was deputy finance minister and now heads Mexico’s Social Security Institute, will assume Lozoya’s role.

Pena Nieto said Gonzalez faces two challenges: "To accelerate the transformation of Pemex to take maximum advantage of the opportunities offered” by the opening of the country’s oil industry to investments, as well as to "achieve financial and productive strengthening at a time of low oil prices."

Gonzalez will take the helm at Pemex in the wake of the company’s worst quarterly result in history - a USD10.2 billion loss. Combined with the international drop in oil prices, the country’s largest company has seen crude production fall 11 straight years amid a series of budget cuts and staff reductions.

As MRC informed previously, in November 2015, Fluor Corp. announced that ICA Fluor, its industrial engineering and construction joint venture with Empresas ICA, had signed a contract with Pemex to supply detail engineering, procurement and construction (EPC) services for the utilities and offsites that are part of the Tula refinery upgrade at Hidalgo, Mexico. The total contract value is USD1.1 billion.

Pemex, Mexican Petroleum, is a Mexican state-owned petroleum company. Pemex has a total asset worth of USD415.75 billion, and is the world's second largest non-publicly listed company by total market value, and Latin America's second largest enterprise by annual revenue as of 2009. Company produces such polymers, as polyethylene, polypropylene, polystyrene.
MRC

MOSCOW (MRC) -- SRF is planning to set up a Greenfield biaxially-oriented polyethylene terephthalate (BOPET) plant at Indore, Madhya Pradesh (MP) at an estimated cost of USD58 mln, as per Business-standard.

The proposed investment will be backed by International Finance Corporation (IFC). The proposed facility is set to have a capacity of 30,000 tpa and a metallization capacity of 8,000 tpa.

Of the total investment, World Bank's investment arm IFC is considering financing up to USD40 mln. The balance will be financed by the company’s contribution. The project aims to create 100 direct jobs and similar number of indirect jobs in ancillary units and supply chain. SRF is a leader in refrigerants, engineering plastics and industrial yarns in India. The company also manufactures polyester films and fluoro specialties. Besides India, SRF has a presence in Dubai, South Africa and Thailand.

As MRC informed earlier, Kolkata, Oct 5 Cosmo Films Limited, a leading global speciality firm manufacturing bi-axially oriented polypropylene (BOPP), has announced plans to install a new 10.4 mtr BOPP line by early 2017, said Indiablooms.

The line has already been ordered and will increase the company’s annual BOPP production capacity from 140k to 200k MT.

The new production line will be installed at the Karjan plant site near Vadodara, an existing facility with the company which already houses BOPP lines, extrusion coating & chemical coating lines and a metallizer.
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