Biaxially Oriented Polypropylene Market Analysis

Biaxially Oriented Polypropylene Market Analysis

The global BOPP market for food held the largest chunk, occupying more than half of the overall industry in 2015. The product finds widespread applications across food packaging die to its low cost, superior barrier and high durability characteristics. These properties help in effectively preserving the food freshness and aroma along with providing protection against moisture. Increasing working population across the globe, has substantially increased the package food demand, which has consequently driven the product demand.

The global biaxially oriented polypropylene market for tapes was valued at over USD 1.5 billion in 2015. BOPP packing tapes are being extensively used in the industrial applications including inventory and shipping owing to its superior optical and mechanical traits, which provides easy labeling and helps in differentiating the packed product. These tapes are thermoplastic polymer are therefore can be used across wide temperature range and are thus suitable for industrial applications. Tobacco is analyzed to witness moderate growth close to 4.5% over the estimated timeframe. The product based films are preferred in tobacco packaging as they offer high speed overwrapping and differential slip properties.
 

North America biaxially oriented polypropylene market revenue was valued at more than USD 1.5 billion in 2015. Prevalence of robust pharmaceutical industry in the U.S is one of the prominent growth drivers in the region. In addition, the U.S. holds a prominent chunk of the overall package food sector on account of high consumer lifestyle dynamics. This is analyzed to positively impact on the product demand for food packaging.
 

Asia Pacific will witness highest gains more than 6.5% CAGR through 2024 owing to escalating food, pharmaceutical and cosmetic industry on account of enhancing consumer lifestyle dynamics and increasing spending power. Increasing number of working population in India and China and significantly increased product demand for food packaging. Furthermore, booming e-commerce industry in India has substantially propelled the industry growth for tapes.