NEWARK, Del, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The global BOPP packaging tapes market is anticipated to grow at an opulent pace with a stable CAGR of 4.5% between 2022 and 2029. The global market is expected to reach US$ 23.8 Bn by the year 2029. The BOPP packaging tapes are known for their rugged structure that offers high tensile strength for packaging. Such properties are known for their uniqueness, thereby keeping the cash registers ringing for the BOPP packaging tapes market.
The global BOPP packaging tapes market was valued at US$ 15.5 Bn in 2018 and is predicted to exhibit a robust CAGR of 4.3% during the projection period from 2019 to 2029. Europe, South Asia, and East Asia are anticipated to garner a collective revenue share of around 70% in the global market for BOPP Packaging Tapes by the end of 2029.
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BOPP packaging tapes are considered to be the most cost-effective and efficient components when it comes to packaging solutions. Due to their versatile application, these tapes are used in several end-use industries. The basic structure of BOPP packaging tapes comprises a thermoplastic polymer. In other words, BOPP packaging tapes can be used in both - cool and hot temperatures.
Key Takeaways
- Owing to the surge in disposable income has motivated individuals to spend more, which has led to an increase in online shopping because it not just saves time for consumers but also opens a window to a wide range of products at a single click. This has accelerated the e-Commerce market at a substantial rate.
- Widespread awareness among the manufacturers has bolstered growth in online website revenue since they are more helpful in direct sales of their manufactured products, therefore, saving their distribution costs.
- Growing economies are majorly relying on e-commerce platforms as compared to the conventional methodology in order to surge as the involvement of distributors’ margin is out of the question. Such factors are expected to bolster growth in the market.
- The retail market saw a major reformation over the years. Currently, consumers are more fascinated by the packaging of the product. In addition to that, customization is being welcomed all over. So, customized BOPP packaging tapes are used for packaging and sealing products with the company’s brand name on them. Such moves have surged demand for BOPP packaging tapes in the market.
- Several important restaurants have initiated customized tapes for takeaway food for packaging, which is augmenting their brand image among several customers. The retail market for surging economies has recently adopted customized BOPP packaging tapes for packaging, which is bound to keep the hopes high for the BOPP packaging tapes market.
- Utilization of BOPP packaging tapes is simpler which makes it a widely used item in sealing and packaging in the manufacturing & warehousing verticals. From the aforementioned factors, it has been anticipated that BOPP packaging tapes are expected to bolster over the projection period.
Competitive Landscape
The global BOPP packaging tapes market competitive landscape includes new product launches, partnerships, joint ventures, mergers, and acquisitions.
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More Insights into the BOPP Packaging Tapes Market
The widespread availability of cost-effective raw materials and labor has made a positive influence on several multinational companies' order to move their production plants to the Asian region. This would therefore let the Asian market come into the limelight. The world is eyeing Asia-Pacific, especially Taiwan, as it has grown at a faster pace than China in the past 2 years regarding the production of corrugated sealing tapes.
Dominant manufacturers of BOPP packaging tapes are expected to set their production base in the Asian regions because of the abovementioned reasons. In the year 2021, the demand for corrugated boxes in the Asian market grew by 20%. This is indicative of the demand for BOPP packaging tapes in the region and this streak is expected to continue all through 2029 as well.
Key Segments Covered in BOPP packaging tapes Industry Research
BOPP Packaging Tapes Market by Thickness:
- 35 - 50 Micron
- 51- 65 Micron
- Above 65 Micron
BOPP Packaging Tapes Market by Adhesive:
- Hot Melt Rubber
- Hot Melt Acrylic
BOPP Packaging Tapes Market by Width:
- 11mm -30 mm
- 31mm - 70 mm
- Above 70 mm
BOPP Packaging Tapes Market by End-user:
- Manufacturing & Warehousing
- Food & Beverages
- Chemicals & Lubricants
- Electronics & Electricals
- Automotive
- Personal care & Cosmetics
- E-Commerce
- Others
BOPP Packaging Tapes Market by Region:
- North America BOPP packaging tapes Market
- Latin America BOPP packaging tapes Market
- Europe BOPP packaging tapes Market
- East Asia BOPP packaging tapes Market
- South Asia BOPP packaging tapes Market
- Oceania BOPP packaging tapes Market
- Middle East & Africa (MEA) BOPP packaging tapes Market
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Global BOPP Tapes Market Demand Analysis 2014-2021 and Forecast, 2022-2029
3.1. Historical Market Volume (Units) Analysis, 2014-2021
3.2. Current and Future Market Volume (Units) Projections, 2022-2029
3.3. Y-o-Y Growth Trend Analysis
3.4. Absolute $ Opportunity Analysis
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