BOPP Packaging Tape Market to Hit US$23.8 Billion by
NEWARK, Del, Oct. 12, 2022 (GLOBE NEWSWIRE) — The global BOPP packaging tape market is expected to grow at an opulent rate with a stable CAGR of 4.5% between 2022 and 2029. The global market is expected to reach USD US 23.8 billion by 2029. BOPP packaging tapes are known for their sturdy structure which provides high tensile strength for packaging. These properties are known for their uniqueness, which is ringing the cash registers for the BOPP packaging tape market.
The global BOPP packaging tape market was valued at US$15.5 billion in 2018 and is expected to grow at a robust CAGR of 4.3% during the forecast period of 2019 to 2029. South Asia and East Asia should generate collective income. share of approximately 70% of the global BOPP packaging tape market 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 cold and hot temperatures.
Key points to remember
- The increase in disposable income has encouraged individuals to spend more, which has led to an increase in online shopping, as it not only saves consumers time, but also opens a window to a wide range of products in one single click. This has accelerated the e-commerce market at a substantial pace.
- Widespread awareness among manufacturers has boosted the revenue growth of online websites as they are more useful in direct selling their manufactured goods thereby saving their distribution costs.
- Growing economies mostly rely on e-commerce platforms as compared to conventional methodology to grow as distributor margin involvement is out of the question. These factors are expected to support the growth of the market.
- The retail market has undergone major reform over the years. Currently, consumers are more fascinated by product packaging. On top of that, customization is welcome everywhere. Thus, custom BOPP packaging tapes are used to wrap and seal company-branded products. Such moves have boosted the demand for BOPP packaging tapes in the market.
- Several prominent restaurants have launched customized take-out food ribbons for packaging, which increases their brand image among several customers. The booming economy retail market has recently adopted customized BOPP packaging tapes for packaging, which is sure to keep the hopes for the BOPP packaging tape market alive.
- The use of BOPP packaging tapes is simpler, which makes it a widely used element in sealing and packaging in the manufacturing and warehousing sectors. From the above factors, BOPP packaging tapes are expected to strengthen over the projection period.
The competitive landscape of the global BOPP packaging tapes market includes new product launches, partnerships, joint ventures, mergers and acquisitions.
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More information on the BOPP Packaging Tape Market
The widespread availability of cost-effective raw materials and labor has had a positive influence on the order of several multinational corporations to move their production plants to the Asian region. This would therefore allow the Asian market to enter the scene. The world is looking at Asia-Pacific, especially Taiwan, as it has grown faster than China in the past 2 years in the production of corrugated sealing tape.
The dominant manufacturers of BOPP packaging tapes are expected to establish their production base in Asian regions for the reasons mentioned above. In 2021, the demand for corrugated boxes in the Asian market has increased by 20%. This indicates the demand for BOPP packaging tapes in the region and this streak is also expected to continue throughout 2029.
Key Segments Covered by BOPP Packaging Tapes Industry Research
BOPP Packaging Tape Market By Thickness:
- 35 – 50 micron
- 51- 65 micron
- Above 65 microns
BOPP Packaging Tapes Market By Adhesive:
- Hot melt rubber
- Hot melt acrylic
BOPP Packaging Tapes Market by Width:
- 11mm -30mm
- 31mm – 70mm
- Above 70mm
BOPP Packaging Tapes Market by End User:
- Manufacturing and warehousing
- Food and drinks
- Chemicals and lubricants
- Electronics and Electricity
- Personal care and cosmetics
BOPP Packaging Tapes Market by Region:
- North America BOPP Packaging Tape Market
- BOPP packaging tape market in Latin America
- BOPP packaging tape market in Europe
- East Asia BOPP Packaging Tape Market
- South Asia BOPP Packaging Tape Market
- BOPP packaging tape market in Oceania
- Middle East and Africa (MEA) BOPP Packaging Tape Market
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis and recommendations
2.1. Market coverage
2.2. Market definition
3. 2014-2021 Global BOPP Tapes Market Demand Analysis and Forecast, 2022-2029
3.1. Historical Analysis of Market Volume (Units), 2014-2021
3.2. Current & Future Projections of Market Volume (Units), 2022-2029
3.3. Analysis of annual growth trends
3.4. Analysis of opportunities in absolute dollars
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Check out IMF’s extensive coverage at Packaging Domain
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