High Demand in Industrial Packaging Sector to Drive Global BOPP Market

San Francisco, California, August 21, 2018: A recent market research report by TMR Research states that the global bi-axially oriented polypropylene market will benefit from the rising demand for the compound across the industrial packaging sector. The report, titled “Bi-axially Oriented Polypropylene (BOPP) Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” also states that the market will, however, bear the brunt of the wavering costs of crude oil on a global front as the material is a derivative of crude oil.

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Nevertheless, steady rise in demand from sectors such as labeling, printing, lamination, and foods and beverages, and the increased demand for a variety of flexible packaging materials in the cosmetics and pharmaceutical industries will continue to provide promising growth prospects to the market. The excellent mechanical strength and high clarity of BOPP, ensuring improved sealing properties and faster packaging, continue to be key factors increasing the demand of the compound in the industrial packaging sector. Characteristics such as recyclability and reprocessing further strengthen the position of BOPP as an excellent packaging material.

From a geographical standpoint, the market for BOPP in Asia Pacific is expected to account for the dominant share in the overall market over the forecast period, ahead of other key regional markets by a substantial margin. The regional market is also expected to register a promising CAGR over the forecast period owing to the thriving labelling and packaging industries. The region is likely to gain vast traction in China over the forecast period.

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In the highly competitive vendor landscape of the global BOPP market, some of the leading vendors are Vibac Group, Taghleef Indsutries, Treofan Group, Oben Group, Jindal Poly Films, Zubairi Plastic Bags Industry LLC, Poligal S.A., Futamura Chemical Co., Ltd., Cosmo Films, Innovia Films, Dunmore Corporation, Oben Holding Group, and Vitopel.

Bi-axially Oriented Polypropylene (BOPP) Market Key Players & Forecast by 2025

Bi-axially Oriented Polypropylene (BOPP) Market: Snapshot

The global market for bi-axially oriented polypropylene (BOPP) market is growing and one of the key factors for its growth is the high demand from labeling, packaging, printing, and lamination applications. The demand for bi-axially oriented polypropylene is also increasing from pharmaceutical and cosmetic packaging sectors. The growing inclination of consumers towards spending increasingly on personal wellbeing will help the bi-axially oriented polypropylene market to grow. The growing awareness among consumers towards food preservation is also boosting the growth of the market.

The wavering price of crude oil will negatively impact the BOPP market as polypropylene is a derivate of crude oil. On the other hand, the application of BOPP as tapes in industrial packaging will drive the growth prospects of the global bi-axially oriented polypropylene market. The superior strength offered by BOPP along with high clarity are two important reasons for being preferred across industrial packaging sector. BOPP films are more flexible, a packaging solution. This ensures faster packaging and improved sealing properties, attracting several manufacturers in the food and non-food packaging industries to replace their conventional packaging materials. Bi-axially oriented polypropylene has abilities such as reprocessing and recyclability which are further strengthening their demand in packaging applications. Metalized bi-axially oriented polypropylene adds sparkle to packaging and thus, they are much in demand for gift wrapping and decorative packaging. All these factors will ensure a continued demand for bi-axially oriented polypropylene in the period from 2017 to 2025.

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Global BOPP Market: Overview

Bi-axially oriented polypropylene (BOPP) films have been available in the global market for nearly four decades and are now extensively used in place of aluminum foil, cellophane, and waxed paper across a number of applications. Owing to their superior strength, excellent printability, clarity, flatness, and light weight, BOPP films have become indispensable in the packaging industry and are used for packaging a variety of consumer products such as foods and beverages, textiles, garments, stationary, and textiles. The production of BOPP films is safe and energy efficient. BOPP films can be recycled and reprocessed into products for a number of new applications.

Global BOPP Market: Key Trends

The increasing use of BOPP in flexible packaging is the key driver of the global BOPP market. In the past few years, the global demand for flexible packaging has increased at a significant pace owing to demand from industries such as food and beverages, pharmaceuticals, and personal care, consequently boosting the consumption of BOPP on a global front. In the next few years as well, the thriving market for flexible packaging will boost the global uptake of BOPP.

However, the fluctuating costs of crude oil, which is one of the primary raw materials for polypropylene, are expected to impact the costs of BOPP and thus the profitability of players operating in the highly competitive market.

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Global BOPP Market: Regional Analysis

The Asia Pacific market for bi-axially oriented polypropylene presently holds the dominant share in the global market, leading other regional markets by a sizeable margin. The Asia Pacific BOPP market is also expected to achieve growth at a considerable pace over the next few years owing to the high demand for BOPP in the packaging and labelling industries.

China is the leading consumer of BOPP products and is expected to account for a considerable share in the revenue of the global market throughout the report’s forecast period. In regions such as Middle East and Africa and Latin America, the demand for BOPP products is expected to rise owing to the expansion of the food and beverages industry and increased consumption of packed products.

Global BOPP Market: Market Potential

Asia Pacific being the most promising investment grounds for the BOPP industry, BOPP manufacturers are increasingly focusing on strengthening their grip on the regional market, through extension of production capacities of already present facilities or installing new ones in countries such as India and China. Cosmo Films, one of the leading companies in the global BOPP market, followed suit with its recent announcement of production capacity expansion by 40% at one of its plants in India. With this expansion, the company aims at catering to both domestic and export markets.

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Global BOPP Market: Competitive Analysis

The global BOPP market features an exceedingly fragmented vendor landscape, with none of the top vendors accounting for a significant share in the overall market. The presence of a large number of small and large manufacturers has led to extreme cost competitiveness in the market, which is expected to further intensify owing to the entry of a large number of local players in the near future. Large vendors will also catalyze price wars in the market through economies of scale.

Some of the leading players operating in the global BOPP market are Taghleef Indsutries, Jindal Poly Films, Vibac Group S.p.A., Vibac Group, Poligal S.A., Cosmo Films, Oben Group, Vitopel, Zubairi Plastic Bags Industry LLC, Futamura Chemical Co., Ltd., Treofan Group, Innovia Films, Manucor S.p.A., Kopafilm Elektrofolien GmbH, Rowad Global Packaging Co. Ltd., Chemosvit A.S., Dunmore Corporation, Oben Holding Group, Xpro India Limited, Cosmos Films Ltd., Uflex Ltd., Polyplex Corporation Limited, Tempo Group, SRF Limited, and Biaxplen Ltd.

Flexibility of Bi-axially Oriented Polypropylene (BOPP) spurs their Demand

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.