Dublin, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The "Biaxially Oriented Polypropylene (BOPP) Films Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The Biaxially Oriented Polypropylene (BOPP) Films Market is expected to expand at a CAGR of 6.5% during the forecast period of 2022 to 2030. BOPP (Biaxially Oriented Polypropylene) sheets are a thermoplastic polymer widely used in packaging. This polypropylene film is extensible in both the machine direction and across machine directions. This stretching provides BOPP films with superior printability, low gauge, clarity, flatness, and retention of twist.
Additionally, the film provides UV resistance with a flat surface area and superior chemical resistance. BOPP has gained popularity and great demand in recent years since it provides an excellent barrier for water vapor, oil, and grease, is recyclable, and emits no harmful substances.
Additionally, the BOPP films' associated benefits have opened the potential for the product in both developing and non-developing businesses. Increasing disposable incomes and rising consumption are boosting the revenue of the overall BOPP film sector.
Increasing product use by industries such as food, pharmaceuticals, and cosmetics, among others, has created product demand with enormous market prospects for the coming years. However, rigorous government regulation regarding the production of BOPP films has posed a significant obstacle to the market's growth during the aforementioned time period.
Increased Demand from The Food Industry
Flexible packaging, or packaging in general, is regarded as one of the most lucrative industries due to its wide applicability in the food and beverage, personal care, and pharmaceutical industries. Increasing demand for bi-pivotally positioned polypropylene (BOPP) in packaging, marking, printing, and overlay is mostly attributable to the thriving growth of the aforementioned industries. BOPP finds application primarily in the food industry, and this segment is the primary contributor to the volumetric expansion of the BOPP market. BOPP is used for packaging and labeling in the food industry, and the rising popularity of snacks, cakes, bread, ready-to-eat packaged food sources, frozen food sources, and candy shops has affected the need for BOPP in this industry.
The food sector is also anticipated to be the fastest-growing application segment by the end of the forecast period. In light of the growing need for tapes in mechanical packaging, the tapes segment also offers lucrative opportunities for leading players in the BOPP market.
Increased Adoption Across Industry to Open Significant Opportunities
Globally rising demand for consumer electronics and electrical goods creates a profitable growth opportunity for the biaxially oriented polypropylene films market. Due to their superior mechanical and thermal qualities, these biaxially oriented polypropylene sheets are ideally suited for wrapping wires and cables. They are regarded as good wire and cable insulators.
The global expansion and growth of the pharmaceutical and cosmetic industries create a suitable environment for the advancement of the biaxially oriented polypropylene films business. Biaxially oriented polypropylene films can be used to prevent the oxidation of pharmaceuticals and cosmetics, which is regarded as the industry's greatest difficulty. These elements are viewed as the most significant growth potential for the Biaxially oriented polypropylene films market as a whole.
Market by Type: The Bags & Pouches Dominated the Market in 2021
The bags & pouches subsegment generated the largest market share in 2021. The BOPP bags and pouches are resistant to water and may be printed with high-resolution images. The segment's rapid expansion is owing to the fact that it is recyclable and does no environmental impact at a cheap price. BOPP bags & pouches have numerous uses for the packaging of animal feed, pet food, seeds, and other consumer goods, allowing for the potential to reach a broader audience.
Market by Application: Tobacco Packaging Segment Witnessing Market Traction
BOPP films have a variety of uses, including medical, food & beverage, personal care & cosmetics, tobacco packaging, electrical, and electronics. Recent years have seen the largest demand for tobacco packaging due to the rising number of new product launches and the rising disposable income of consumers.
North America Dominates Revenue Share, While APAC Leads the Growth
On account of the pharmaceutical industry's increasing demand for packaging materials, North America held the largest revenue share in 2021. In addition, the increasing government attempts to address the challenges of solid wastes generated from single-use plastics are anticipated to boost the demand for BOPP films among the region's end-users. In 2018, the U.S. Environment Protection Agency (EPA) reported the generation of 292,4 million tonnes of solid municipal garbage. In addition, plastic waste comprised more than 18% of landfills in the United States in 2018.
The Asia-Pacific region is anticipated to have a higher market growth rate for Biaxially oriented Polypropylene films because to the increasing growth of end-user industries such as food and beverage, medical, and personal care. Additionally, the packaging and manufacturing industries are growing in the Asia-Pacific area, which is regarded as the key growth stimulant for biaxially oriented polypropylene films. In addition, the Asia-Pacific area is experiencing increased demand in the retail and e-commerce sectors, where Biaxially Oriented Polypropylene films are deployed extensively.
Market Segmentation
Material
- Silica-based
- Aluminum-based
- Polymer-based
- Others
Production Process
- Tenter
- Tubular
Thickness
- Below 15 microns
- 15-30 microns
- 30-45 microns
- More than 45 microns
Type
- Wraps
- Bags and Pouches
- Tapes
- Labels
- Others
End-User
- Fast Moving Consumer Goods (FMCG)
- Medical & Pharmaceutical
Companies Mentioned
- KopafilmElektrofolien GmbH
- SRF Limited
- Chemosvit A.S.
- Tempo Group
- Taghleef Industries
- Vibac Group S.p.A.
- Treofan Group
- Rowad Global Packaging Co. Ltd.
- Zubairi Plastic Bags Industry LLC
- Poligal S.A.
- Futamura Chemical Co. Ltd.
- Manucor S.p.A.
- Oben Holding Group Inc
For more information about this report visit https://www.researchandmarkets.com/r/ep10y3
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