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.
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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.
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Market Segmentation
Global Polypropylene Films Market by Product Type
- Cast Polypropylene (CPP)
- Bi-Axially Oriented Polypropylene (BOPP)
Global Polypropylene Films Market by Application
- Packaging
- Capacitors
- Medical & Pharmaceutical
- Others (Cosmetic and Agriculture)
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