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BOPP Market Size, Share, Trends and key players like Biaxplen, Vitopel, SRF Limited, Chemosvit A.S., Dunmore, Innovia Films, BIOFILM, Taghleef Industries

BoPP Market

BoPP Market

BOPP market from tapes garnered revenue of over USD 1.5 billion in 2015. Expansion of food and cosmetics production in China and India owing to rise in consumer expenditure will also boost regional market growth.

Increased consumer spending with enhanced lifestyle is bolstering the growth of the F&B sector worldwide. In 2015, the BOPP market from food & beverage sector collected revenue of over USD 15 trillion and is expected to witness substantial growth avenues in coming years.

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BOPP film is among the most favored packaging material across the industrial spectrum. For food packaging, the BOPP film utilized are generally co-extruded, heat-sealable films. The product offers features such as high strength, durability, suitable for printing and coating over frozen food, confectionary, snacks and ready to eat meals.
In 2015, North America held 10% of the global BOPP market share and is estimated to gain traction through 2024 primarily due to increased consumption of packaged food in the U.S.

BOPP films are excellent for packaging of delicate goods like cosmetic products, pharmaceuticals and others, as it helps in conserving the product characteristics and saves it from denaturing. In 2015, cosmetic sector accounted for USD 210 billion globally and will grow at a significant rate, offering growth avenues to BOPP industry players. Also, BOPP market for tobacco packaging is likely to garner gains at 4.5% CAGR over the analysis period.

In 2015, Asia Pacific was the largest contributor to the global BOPP market share. Flourishing e-commerce industry in the countries across the region is the key factor propelling the growth. As the e-commerce sector fundamentally involves high quality tapes for packaging and labelling purposes, the product demand is increasing.

Polypropylene is among the most prominent raw material used in the production of BOPP films and is a crude oil derivate. The raw materials is subjected to price dynamics. Wavering petrochemical prices can be a restraint to BOPP market growth. The strong pharmaceutical sector across the world may also boost the BOPP market through 2024 from packaging needs.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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