The BOPP (Biaxially Oriented Polypropylene) packaging tapes market is expected to experience rapid growth in the upcoming years, with a projected compound annual growth rate (CAGR) of 4.6% from 2023 to 2033, reaching a market value of US$29,719.2 million.
A key driver behind this growth is the increasing demand for reliable and efficient packaging solutions across various industries. BOPP tapes are gaining popularity due to their exceptional strength, durability, and resistance to moisture and temperature variations, making them highly suitable for packaging applications where secure sealing and protection are crucial.
The growth of the e-commerce sector is expected to significantly contribute to the increased demand for BOPP tapes. E-commerce companies prioritize secure and reliable packaging to ensure the safe delivery of products to customers, and BOPP tapes are commonly used for sealing packages in this industry.
Additionally, the rising demand for environmentally friendly packaging options is influencing the BOPP packaging tapes market. As consumers become more conscious of the environmental impact of packaging, there is a growing preference for sustainable and eco-friendly materials. BOPP tapes, being recyclable and manufactured with minimal environmental impact, are well-positioned to meet this demand for sustainable packaging solutions.
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Key Takeaways:
- The surge in disposable income has led to increased online shopping, driving the growth of the e-commerce market.
- Manufacturers are increasingly utilizing online websites for direct sales, reducing distribution costs and bolstering online revenue.
- Growing economies are relying more on e-commerce platforms to avoid involvement of distributors’ margins, further boosting the market.
- Customized BOPP packaging tapes are gaining popularity in the retail market, enhancing brand image and driving demand.
- Several important restaurants have adopted customized tapes for takeaway food packaging, further fueling demand in the retail market.
- BOPP packaging tapes are widely used in the manufacturing and warehousing verticals due to their simplicity and efficiency, contributing to their expected growth 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 Players:
- Bolex Shenzen Adhesive Products Co. Ltd.
- Intertape Polymer Group Inc.
- Vibac Group S.p.A
- 3M Company
- Delphon Industries LLC, and
- Tesa SE.
Regional Outlook:
Europe Leads the Way in BOPP Packaging Tapes Market, Asia Witnesses Rapid Growth
Europe Takes Precedence: With a projected market share of over 28.8% in the BOPP packaging tapes market, Europe is expected to maintain its lead. The region benefits from increased demand in packaging applications such as consumer goods, pharmaceuticals, and electronics. Additionally, the high discretionary income of consumers aged 25 to 44 further drives industry growth.
Green Innovation Boosts Importance: Adhesive tapes play a vital role in green innovation within the packaging industry, leading to increased market innovations. German tape manufacturer Monta Klebebandwerk GmbH recently introduced a self-adhesive tape made from post-industrial recycled polypropylene (rPP), emphasizing sustainability.
Asia Shines in the Spotlight: The Asian market is experiencing significant attention due to the availability of cost-effective raw materials and labor, attracting multinational companies to establish production plants in the region. The production surge of corrugated sealing tapes in Taiwan and India’s robust performance contribute to the region’s growth. India is projected to expand at a 6.9% CAGR, while the demand for BOPP packaging tapes in Asia continues to rise, driven by a 20% growth in corrugated box demand in 2022
Market Benefits
- The report offers a comprehensive analysis of the global BOPP packaging tapes market, highlighting current trends and future projections to identify lucrative investment opportunities.
- Strategies of key market players are thoroughly examined to provide insights into the competitive landscape of the industry.
- Detailed analysis of market applications facilitates a better understanding of industry trends.
- Quantitative analysis of the market for the period 2023 to 2033 equips stakeholders with the information needed to seize existing market prospects
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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
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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