Global Biaxially Oriented Polypropylene (BOPP) Market to reach USD 22.56 billion by 2025.
Global Biaxially Oriented Polypropylene (BOPP) Market valued approximately USD 14.26 billion in 2017 is anticipated to grow with a healthy growth rate of more than 5.90 % over the forecast period 2018-2025. Increasing BOPP demand in electronics, food packaging and insulation applications are expected to remain a key factor driving the global market growth. Biaxially oriented polypropylene (BOPP) films have been increasingly used at a commendable rate over the recent past owing to its superior thermal insulation properties over counterparts such as wax paper and cellophane. Their improved resistance to water and barrier for gases creates growing demand for BOPP films. Recyclability and reprocessing ability of BOPP is expected to further strengthen its demand in packaging applications.
The regional analysis of Global Biaxially Oriented Polypropylene (BOPP) Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific leads the global BOPP the APAC BOPP market is likely to be driven by the high demand for BOPP for the production of packages and labels in the food industry and tapes for industrial packaging purposes. China is one of the leading consumers of BOPP in the region. The Middle East and Africa and Latin America BOPP markets are projected to witness moderate to high growth. The metalized BOPP industry in Europe owing to huge market capacity in Western European region. In Eastern Europe, the demand for flexible packaging is forecasted to rise, although some may be exported to the North West European countries. Central and East Asian region that include China, Japan, South Korea and Taiwan is the world’s largest BOPP films producer and consumer accounting for over half of global demand. Total growth in the Middle East has been achieved in the previous year and market is almost mature due to the vast availability of petroleum reserves and its by-products.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Pressure Sensitive Tapes
- Biscuit/Bakery Products
- Dried Food
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Taghaleef Industries Jindal Poly Films Pvt Ltd, Nan YA Plastic Corporation, Treofan, Vibac Group, Vitopel, Futamura, Cosmo Films, Kopa Films, DuPont and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.