Sellbyville, DE -- (SBWIRE) -- 01/22/2019 -- (Biaxially Oriented Polypropylene) BOPP Market valued at over USD 12.5 billion in 2015 and will witness gains at more than 5% CAGR by 2024.

Europe BOPP industry size is expected to expand significantly over the next few years, subject to escalating product popularity across the cosmetic packaging sector. France, Germany, and UK are likely to make significant contributions towards the regional share.

Asia Pacific BOPP market is projected to register substantial gains of over 6.5% during the period from 2016 to 2024, driven by rise in the purchasing capacity of the consumer. Flourishing E-commerce sector across the region is also expected to contribute remarkably towards the business expansion. India and China are forecast to be the key regional growth drivers.

Growth drivers

- Increasing product demand for flexible packaging
- Environment friendly and economic traits of the product

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Market players will try to increase their ROI through product differentiation, pricing, and competitive benchmarking. Biaxplen Limited, Rowad Global Packaging Company Limited, Tempo Group, Oben Holding Group, Zubairi Plastic Bags Industry LLC, Jindal Poly Films, Vibac Group S.p.a., Chemosvit A.S., Kopafilm Elektrofolien GmbH, Innovia Films, Futamura Chemical Company, Taghleef Industries, Manucor S.p.A., Cosmos Films Limited, and Uflex Limited are the major participants of BOPP industry.

In 2015, the overall biaxially oriented polypropylene market size was fragmented with major industry players holding less than 30% of the industry share. Some prominent BOPP market share contributors are Taghleef Industries, Innovia Films, Jindal Poly Films, Vitopel S.A, Biaxplen Ltd, Xpro India, Polyplex Corporation, Cosmos Films, SRF Limited, Chemosvit A.S and Oben Holding Group.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Biaxplen
2. Vitopel
3. Oben Group
4. SRF Limited
5. XPRO INDIA LIMITED
6. CHEMOSVIT Group
7. Zubairi Plastic Bags Industry LLC
8. Rowad Global Packaging
9. Kopafilm Elektrofolien GmbH
10. Polyplex
11. Jindal Poly Films Limited
12. Dunmore
13. Innovia Films
14. Biofilm
15. Taghleef Industries
16. Treofan
17. Vibac Spa
18. FUTAMURA CHEMICAL UK LIMITED
19. Poligal
20. MANUCOR SPA
21. UFLEX Group
22. Cosmo Films Limited
23. PT Tempo Scan Pacific Tbk

Escalating product demand in labelling, packaging, lamination and printing applications was the major factor propelling the global biaxially oriented polypropylene (BOPP) market size in the past few years. In 2015, the global insulation business was valued at over USD 40 billion and may surpass USD 75 billion by 2024, with estimated 5% growth. This inclination will positively influence the global business over the projected timeframe. The product is widely used in the food packaging applications due to its higher strength and clarity, which helps in convenient coating and printing over frozen food, snacks, confectionary and ready to eat meals.

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The exponentially surging packaging and food & beverage industries have provided a significant impetus to Biaxially Oriented Polypropylene Market dynamics. Polypropylene is one of the key polymers used in the manufacturing of BOPP films and finds extensive application in packaging industry. The high barrier properties, durability, and cost-effectiveness associated with the biaxially oriented polypropylene films has provided a substantial spur to the global BOPP market demand. Moreover, high strength and superior clarity of these films have increased its adoption rate in printing, packaging, labeling, and coating sectors. According to a report by Global Market Insights, Inc., biaxially oriented polypropylene market is projected to register an annual growth rate of 5% over the period of 2016-2024 and is likely to surpass USD 20 billion by 2024.

Of the key application segments including tobacco, food, and tapes, tobacco packaging segment is anticipated to witness a CAGR of 4.5% over 2016-2024 as the BOPP films offer differential slip & high speed wrapping properties. The packaging tapes made from thermoplastic biaxially oriented polypropylene are also used in several industrial applications as they provide ease of labeling and can also be used in various temperature ranges. Thus, immense scope of BOPP films in aforementioned applications will lead to a strong growth curve for the overall development of biaxially oriented polypropylene industry.

(Biaxially Oriented Polypropylene) BOPP market by application

- Food
- Tapes
- Tobacco
- Others

The Biaxially Oriented Polypropylene Market is likely to be driven by the demand from labelling, lamination printing and packaging, industries in the forecast period. The global insulation business had generated revenue over USD 40 billion and by 2024, it is likely to cross USD 75 billion with CAGR up to 5%. This trend is likely to influence the global BOPP business during the forecast period.

The cosmetic sector generated revenue around USD 210 billion globally, in 2015, and portrays brighter growth aspects in the near future. The product is broadly used in the cosmetic and pharmaceutical packaging, as it helps in conserving the product characteristics such as aroma. Global Biaxially Oriented Polypropylene Market for tobacco is probable to have sluggish progress around 4.5% CAGR in the forecast period.

The product is widely used in the pharmaceutical and cosmetic packaging. Positive growth outlook in these sectors mainly due to increasing consumer awareness towards personal wellbeing will stimulate the global biaxially oriented polypropylene(BOPP) market size by 2024. For instance, in 2005, the global cosmetic sector generated revenue close to USD 150 billion and reached USD 210 billion in 2015. BOPP film is broadly used in packaging applications across pharmaceutical and cosmetic industries, as it helps in preserving the product characteristics including aroma. The global BOPP market size for tobacco will observe sluggish growth around 4.5%.

Petrochemical derivate such as polypropylene (PP) is the chief raw material in the BOPP (biaxially oriented polypropylene) market share and thus follows the same price dynamic forces. Oscillating petrochemical prices across the globe may negatively influence the overall BOPPmarket price trends by 2024. Increasing product adoption in tapes for industrial packaging due to its high strength will upsurge growth prospects for the BOPP market size participants.

In 2015, food accounted for the largest biaxially oriented polypropylene market share. BOPP is widely used in food packaging applications owing to its low cost, high barrier and durability properties. These product characteristics help in protecting the food's aroma and freshness. Escalating package food industry, particularly due to elevating working population across the globe will boost industry share by 2024.

BOPPmarket for tapes generated revenue close to USD 1.5 billion. Superior mechanical and optical characteristics of BOPP tapes, makes them desirable in industrial packaging applications. It also helps in easy labelling over the packed product and assists in product differentiation.

In 2015, North America BOPP market share was over 10% of the global revenue. The strong pharmaceutical industry in the U.S will drive the regional growth. The region is a significant contributor in the packaged food industry. This trend will further propel the regional product growth.

Asia Pacific contributed the largest share in Biaxially Oriented Polypropylene Market in 2015. Rising food and cosmetic industry in India and China owing to improving consumer expenditure trends will contribute to the regional market growth. Moreover, the flourishing Indian e-commerce industry will markedly propel the product market growth for tapes. Since e-commerce industry fundamentally involves high quality tapes for labelling and packaging purposes, it is predicted to drive the regional (biaxially oriented polypropylene) BOPP market in the forecast period.

Key industry players are Vitopel S.A., Oben Holding Group, SRF Limited, Biaxplen Ltd., Xpro India Ltd, Zubairi Plastic Bags Industry LLC, Chemosvit A.S., Rowad Global Packaging Co. Ltd., Jindal Poly Films Ltd., Kopafilm Elektrofolien GmbH, Polyplex Corporation Ltd., Innovia Films, Dunmore, Taghleef Industries, BIOFILM, Uflex Ltd., Treofan Group, Vibac Group, Manucor S.p.A., Futamura Chemical Co., Ltd., Poligal S.A., Tempo Group and Cosmos Films Ltd.

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