Biaxially Oriented Polypropylene Market, Growth, Demand And Development Research Report To 2024
Category: #reports  By Rahul Sankrityayan  Date: 2020-04-29
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Biaxially Oriented Polypropylene Market, Growth, Demand And Development Research Report To 2024

The BOPP market is likely to be driven by the demand from labelling, lamination printing and packaging, industries in the forecast period. The global insulation business had generated revenue over USD 40 billion and by 2024, it is likely to cross USD 75 billion with CAGR up to 5%. This trend is likely to influence the global BOPP business during the forecast period.

The food & beverage industry revenue in 2015 was over USD 15 trillion and the industry has substantial growth avenues in coming years owing to improved consumer spending pattern coupled with enhanced lifestyle dynamics. Because of the product features such as high strength and clarity, high barrier and durability properties, BOPP is extensively used in food packaging applications, which benefits in suitable printing and coating over confectionary, frozen food, ready to eat meals and snacks.

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The cosmetic sector generated revenue around USD 210 billion globally, in 2015, and portrays brighter growth aspects in the near future. The product is broadly used in the cosmetic and pharmaceutical packaging, as it helps in conserving the product characteristics such as aroma. Global BOPP market for tobacco is probable to have sluggish progress around 4.5% CAGR in the forecast period.

Polypropylene (PP) being a crude oil derivate and the most prominent raw material used in the overall industry, has been subjected to price dynamics. The BOPP market has a growth restraint of wavering petrochemical prices in the forecast period.

In 2015, BOPP market for tapes produced revenue nearly USD 1.5 billion. Product features such as superior optical & mechanical characteristics, easy labelling and significant product differentiation are likely to be the growth drivers in the forecast period.Pla

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In 2015, North America BOPP market share was over 10% of the global revenue. The strong pharmaceutical industry in the U.S will drive the regional growth. The region is a significant contributor in the packaged food industry. This trend will further propel the regional product growth.

Asia Pacific contributed the largest share in BOPP market in 2015. Rising food and cosmetic industry in India and China owing to improving consumer expenditure trends will contribute to the regional market growth. Moreover, the flourishing Indian e-commerce industry will markedly propel the product market growth for tapes. Since e-commerce industry fundamentally involves high quality tapes for labelling and packaging purposes, it is predicted to drive the regional (biaxially oriented polypropylene) BOPP market in the forecast period.

Key industry players are Vitopel S.A., Oben Holding Group, SRF Limited, Biaxplen Ltd., Xpro India Ltd, Zubairi Plastic Bags Industry LLC, Chemosvit A.S., Rowad Global Packaging Co. Ltd., Jindal Poly Films Ltd., Kopafilm Elektrofolien GmbH, Polyplex Corporation Ltd., Innovia Films, Dunmore, Taghleef Industries, BIOFILM, Uflex Ltd., Treofan Group, Vibac Group, Manucor S.p.A., Futamura Chemical Co., Ltd., Poligal S.A., Tempo Group and Cosmos Films Ltd.

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Rahul Sankrityayan

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Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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