San Francisco, California, New York, June 02, 2017: Bi-axially oriented polypropylene (BOPP), which have been around for about four decades, are fast supplanting cellophane, aluminum foil, and waxed paper in various applications, finds a new study by TMR Research. The report, titled, “Bi-axially Oriented Polypropylene (BOPP) Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” states that on account of higher strength, clarity, flatness, excellent printability, and light weight, BOPP films have become a must in the packaging industry.
Bi-axially oriented polypropylene (BOPP) is used for packaging different consumer products, ranging from food and beverages to textiles, garments, and stationeries. BOPP films have quite a few unique perceived benefits – their production is safe and energy efficient and they can be recycled and reprocessed into products for other applications as well. Because of these, bi-axially oriented polypropylene (BOPP) are seeing swift uptake.
Another factor majorly fuelling the global bi-axially oriented polypropylene (BOPP) market is their growing use in flexible packaging. The latter has seen a spike in demand from the personal care, food and beverages, and pharmaceuticals industries. With demand showing no signs of letting up in the near future, BOPP will also see a continued upswing in its market.
One factor proving counterproductive to the global bi-axially oriented polypropylene (BOPP) market is the price volatility of crude oil, which is one of the main raw materials for polypropylene. This is negatively impacting the profit margins of manufacturers operating in the market.
From a geographical standpoint, Asia Pacific, at present, accounts for a dominant share in the global market for bi-axially oriented polypropylene. In the near future too, Asia Pacific will likely hold on to it share with its market expanding at a phenomenal pace on account of the massive demand for BOPP in the packaging and labelling industries. China is considered the engine of growth in Asia Pacific as it accounts for maximum consumption of BOPP products.
Besides Asia Pacific, other regions expected to contribute significantly to the global bi-axially oriented polypropylene (BOPP) market are Latin America and the Middle East and Africa. The growth in the food and beverages industry and rising consumption of packed products in the regions are predicted to stoke the BOPP market.
The global bi-axially oriented polypropylene (BOPP) market is highly fragmented with no player holding a substantial share. Presence of a copious number of small and large manufacturers has made competition extremely stiff. Some of the prominent market participants are Vibac Group S.p.A., Innovia Films, Jindal Poly Films, Oben Group, Poligal S.A., and Cosmo Films, among others.