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The global biaxially oriented polypropylene industry was highly fragmented with top product manufacturers accounting for less than 30% of the overall industry. Some of the industry share contributors include:
These participants are engaged in upscaling their production capacity and diversifying their product portfolio in order to meet increasing product demand across the globe. For instance, Innovia Films has a diversified product portfolio and meets consumer demand for food and tobacco packaging.
Insulation segment will witness a CAGR of over 5% through 2024 owing the superior clarity and strength of the product and its increased application in food packaging.
BOPP market for tapes was valued at over USD 1.5 billion in 2015 owing to extensive demand in industrial applications like inventory and shipping due to superior optical and mechanical traits.
Asia Pacific BOPP market will register a CAGR of over 6.5% through 2024 with the rising number of food, pharmaceutical and cosmetic industries in the region.
Some of major companies in the market are Biaxplen Ltd., Vitopel S.A., Oben Holding Group, SRF Limited, Xpro India Limited, Zubairi Plastic Bags Industry LLC, Rowad Global Packaging Co. Ltd., Vibac Group S.p.a., Ltd., Futamura Chemical Co, Jindal Poly Films, Taghleef Industries, Tempo Group, etc.
Biaxially oriented polypropylene (BOPP) market size had exceeded USD 12.5 billion in 2015 and will observe a CAGR of over 5% through 2024 with the rising demand for labeling, printing, packaging, and lamination.