Biaxially oriented polypropylene (BOPP) market: Snapshot packaging, especially flexible packaging, has become one of the most dynamic industries today due to its wide application in the food and beverage, personal care and pharmaceutical fields. The increasing demand for biaxially oriented polypropylene (BOPP) in packaging, labeling, printing and lamination is mainly due to the booming development... Continue reading The global biaxially oriented polypropylene market is expected to increase to US$20.9 billion by 2024 →
Packaging, especially flexible packaging, has become one of today's most dynamic industries due to its wide application in the food and beverage, personal care and pharmaceutical fields. The increasing demand for biaxially oriented polypropylene (BOPP) in packaging, labeling, printing and lamination is mainly attributed to the booming development of the above-mentioned industries. Transparency Market Research predicts that in the near future, the demand for BOPP will be consistent with the demand for flexible packaging. It may also align with the growth of the food and beverage industry.
In terms of revenue, the BOPP market is expected to expand at a compound annual growth rate of 5.8% from 2016 to 2024, and its value will increase from USD 12.7 billion in 2015 to USD 20.9 billion at the end of the forecast period. From 2016 to 2024, the market is expected to achieve a compound annual growth rate of 6.3%.
BOPP is mainly used in the food industry, which is a major contributor to the growth of the BOPP market. BOPP is used for packaging and labeling in the food industry. The growing demand for snacks, cakes, bread, ready-to-eat packaged foods, frozen foods and confectionery has affected the industry's demand for BOPP.
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It is expected that by the end of the forecast period, the food industry will also become the fastest growing application area. Considering the increasing demand for tapes in industrial packaging, the tape sector also provides profitable opportunities for participants in the BOPP market.
Huge room for growth in developing regions
The global BOPP market is geographically divided into North America, Central America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In terms of sales volume, the Asia-Pacific region leads the global BOPP, with a share of more than 55% in this region in 2015. During the forecast period, the BOPP market in the Asia-Pacific region is expected to achieve considerable growth, so it is likely to be affected by high BOPP used in the production of packaging and labels in the food industry and tape used in industrial packaging. China is one of the major consumers of BOPP in the region.
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Due to the expansion of the food industry and the growing demand for packaging products, it is expected that the BOPP market in the Middle East and Africa and Latin America will experience moderate to high growth by 2024. Countries in the Gulf Cooperation Council are expected to become the main markets for BOPP in the Middle East; South Africa and Nigeria are likely to play a leading role in the African BOPP market; Brazil, Argentina, Colombia and Chile are optimistic about the BOPP market in Latin America.
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The BOPP market is highly fragmented, with several major players. Some well-known companies in the global BOPP market include Kopafilm Elektrofolien GmbH, SRF Limited, Chemosvit AS, Tempo Group, Taghleef Industries, Vibac Group SpA, Treofan Group, Rowad Global Packaging Co. Ltd., Zubairi Plastic Bags Industry LLC, Polygal SA, Futamura Chemical Co., Ltd., Manucor SpA, Oben Holding Group, Innovia Films, Xpro India Limited, Uflex Ltd., Jindal Poly Films Ltd., Biaxplen Ltd., BIOFILM, Cosmos Films Ltd., Dunmore Corporation, Polyplex Corporation Limited, and Vitopel SA
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The food industry's growing demand for the biaxially oriented polypropylene (BOPP) market group
Flexible packaging or any type of packaging is considered the most powerful business today, due to its wide range of applications in the fields of food and snacks, personal considerations, and pharmaceuticals. The growing interest in double-pivot polypropylene (BOPP) in bundling, marking, printing, and covering is mainly due to the boom in the aforementioned business. Straight market research predicts that interest in BOPP may be consistent with adaptive packaging. With the development of the food and snack industry, it has also stabilized.
BOPP is mainly used in the food industry. In terms of quantity, this part is the main supporter of BOPP market development. BOPP is used for bundling and labeling in the food industry, and the development of interest in snacks, cakes, bread, ready-to-eat bundling food sources, frozen food sources and confectionery stores has affected BOPP's interest in this field.
The food sector is also expected to be the fastest growing part of the application before the end of the instrument time frame. Considering the development interest of tape in mechanical bundling, the tape segment also provides valuable freedom for the main components of the BOPP market.
The use of biaxially aligned polypropylene is commonly used in different industries, including food, tape, tobacco, customer goods and clinical.
BOPP is particularly suitable for the food and tape industries due to its importance in assembling different items. Especially in the food industry, it helps to protect the freshness of food and extend the time span of its availability. In addition, the minimal effort and recyclability of biaxially aligned polypropylene brings vitality to the market. In addition, interest in adaptive bundling is also expected to support interest in the market. The increase in the urban population and the increase in additional cash are part of the different variables that stimulate interest in the biaxial polypropylene market.
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