Stratview Research has published a new report titled “Biaxially Oriented Polypropylene Market” which is segmented by Application Type (Food, Tapes, Tobacco, and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, biaxially Oriented Polypropylene Market is likely to witness an impressive CAGR of 6.0% during the forecast period. The product is extensively used in food packaging applications due to its superior clarity and strength, as it allows easy printing and coating over packaged foods such as frozen food, snacks, ready-to-eat meals, and confectionery. Owing to improving consumer lifestyle dynamics and increasing spending power, the overall food and beverage industry is growing at a rapid pace, resulting in increased market share for biaxially oriented polypropylene. Furthermore, growing customer awareness about the importance of food preservation will significantly increase the product demand over the forecast period.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis –
Based on the application type, the market is segmented as food, tapes, tobacco, and others. The food application segment occupied the largest share of the market in 2021, and is expected to maintain its dominance during the forecast period as well. Owing to its low cost, superior barrier, and high durability properties, the product is widely used in food packaging. These qualities aid in the effective preservation of food freshness and aroma, as well as providing moisture protection. Increasing global working population has significantly augmented the demand for packaged food, which has fueled the product demand.
In terms of regions, Asia-Pacific is estimated to experience the highest growth in the biaxially oriented polypropylene market during the forecast period. The growth of the region’s market is driven by the growing food & beverages, pharmaceutical, and cosmetic industries in the region along with the increasing number of working populations in China and India. On the other hand, North America is estimated to hold significant share of the market mainly on account of the growing pharmaceutical industry in the U.S., boosting the overall regional market growth during the forecast period.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Biaxially Oriented Polypropylene Market:
- Biaxplen Ltd.
- Chemosvit A.S.
- Kopafilm Elektrofolien GmbH
- Oben Holding Group
- Polyplex Corporation Limited
- Rowad Global Packaging Co. Ltd.
- SRF Limited
- Vitopel S.A.
- Xpro India Limited
- Zubairi Plastic Bags Industry LLC.
Key questions answered by the report
- What is the projected CAGR for revenue from the Biaxially Oriented Polypropylene Market during the forecast period?
- What would be the market be valued at by 2027?
- What is a major driving factor for growth of the market?
- Which region accounted for largest revenue share in the Biaxially Oriented Polypropylene Market?
- Which are the major market players?
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