Global BOPP market projected to cross US$14000 mln by 2019, at a CAGR of 5.8%

15-Jul-15

The global biaxially oriented polypropylene (BOPP) market was valued at US$10,714 mln in 2014, and is projected to reach US$14,117.8 mln by 2019, at a CAGR of 5.8% from 2014 to 2019, as per Micro Market Monitor. The global biaxially oriented polypropylene (BOPP) in films and sheets market has widespread applications among varied end-user industries. Among all end-users, BOPP materials are widely used in solvent application, but this demand is becoming quiet moderate due to environmental regulations on volatile organic compounds. Biaxially oriented polypropylene (BOPP) can be stretched and extruded to form BOPP films, which could further be used as a sustainable packaging material, especially for snack foods, confectionaries, and fresh vegetables. One of the most significant drivers influencing the growth of the global BOPP in films and sheets market includes consumer preference of BOPP films over other packaging materials. The BOPP packaging material is used as a barrier to protect drugs against external factors that can degrade and induce toxic effects, and they are also considered to be an excellent choice of packaging materials for hygiene and safety purposes. Sealed Air Corporation (U.S.), Amcor Limited (Australia), Bemis Company Inc. (U.S.), Jindal Poly Films Ltd. (India), Toyobo co. Ltd (Japan), AEP Industries Inc. (U.S.), Berry Plastics Group(U.S.), Saudi Basic Industries Corporation (Saudi Arabia), and Toray Industries (Japan) North America is the most dominant region in the global BOPP in films and sheets market. This growth is mainly attributed to the increasing demand of BOPP materials in light of regulatory sanctions for automotive weight, coupled with the increasing adoption of bio-plastics in this region.