Published On : 01 Nov 2016
QYResearchReports.com announces the addition of a new market research study to its growing market intelligence repository. The new report studies the global bi-axially oriented polypropylene (BOPP) market in detail and presents comprehensive forecasts regarding the market’s growth trajectory in the coming years. The report, titled ‘Global Bi-axially Oriented Polypropylene Market Research Report 2016,’ is available for sale on the official website of QYResearchReports.com.
According to the report, the flourishing flexible packaging industry is one of the key factors behind the growth of the bi-axially oriented polypropylene market. BOPP finds its application in the food industry as these films effectively lock the moisture and the aroma of food, thus driving their demand worldwide. In addition to this, the rising demand for bi-axially oriented polypropylene in lamination, packaging, labeling, and printing is the key factor driving the market.
The growing need for innovative packaging options is driving the global bi-axially oriented polypropylene market. As consumers are increasingly getting influenced by the visual appeal or the way food products are packed, manufacturers are looking for improved ways for packaging that are not only and cost-effective but effective in food preservation. Since BOPP films have high barrier properties, are inexpensive, and durable they are becoming increasingly popular, thus driving the market.
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BOPP films are also utilized for agricultural practices such as mulching, greenhouse, tunnels, irrigation, reservoir, and silage. Moreover, the building and construction industries are also demanding these films. On the other hand, the volatility in the price of raw materials is expected to pose a challenge for players in the market. Players also face several challenges during the production of BOPP.
The global BOPP market is segmented on the basis of geography into Europe, North America, and Asia Pacific. Of these, Asia Pacific is expected to consume the highest volume of BOPP films in the coming years owing to increasing disposable income and growing population. Urbanization and economic development in countries such as China and India are also factors that have helped the BOPP market in Asia Pacific to grow.
On the basis of type, the bi-axially oriented polypropylene market is segmented into specialty films and commodity films, of which, the commodity films segment is expected to account for a significant share of the market in the coming years on account of its extensive stretching abilities and cost-effectiveness.
The global bi-axially oriented polypropylene market is fragmented with tough competition not only from global but even by local players. Leading players in the market are expanding their production capacities as part of their growth strategy. Players are also looking for geographical expansion. Some of the players operating in the global BOPP market are Jindal Poly Films, Futamura Chemical, Chiripal Poly Films, Formosa Plastics, Taghleef Industries, Transilwrap, Treofan Group, and Vibac Group.