According to current market analysis, the global BOPP packaging tapes market is expected to witness rapid growth in the coming years. It is projected to grow at a compound annual growth rate (CAGR) of 4.5% between 2022 and 2029, reaching a market value of US$23.8 billion.
The increasing demand for reliable and effective packaging solutions across various industries is a key driver behind the growth of the BOPP packaging tapes market. BOPP tapes are gaining popularity due to their enhanced strength, durability, and resistance to moisture and temperature changes.
Furthermore, the expansion of the e-commerce industry is expected to contribute to the growth of the BOPP packaging tapes market. With e-commerce placing a high value on dependable and secure packaging, there is a growing demand for BOPP tapes.
The study also highlights the growing demand for environmentally friendly packaging choices, which will impact the market for BOPP packaging tapes in the years to come. Customers are becoming increasingly aware of the environmental impact of packaging, and many companies are adopting eco-friendly practices.
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Overall, it is anticipated that the BOPP packaging tapes market will experience significant expansion in the next several years due to the increasing demand for efficient and environmentally friendly packaging solutions across multiple industries.
Key Takeaways
- Owing to the surge in disposable income has motivated individuals to spend more, which has led to an increase in online shopping because it not just saves time for consumers but also opens a window to a wide range of products at a single click. This has accelerated the e-Commerce market at a substantial rate.
- Widespread awareness among the manufacturers has bolstered growth in online website revenue since they are more helpful in direct sales of their manufactured products, therefore, saving their distribution costs.
- Growing economies are majorly relying on e-commerce platforms as compared to the conventional methodology in order to surge as the involvement of distributors’ margin is out of the question. Such factors are expected to bolster growth in the market.
- The retail market saw a major reformation over the years. Currently, consumers are more fascinated by the packaging of the product. In addition to that, customization is being welcomed all over. So, customized BOPP packaging tapes are used for packaging and sealing products with the company’s brand name on them. Such moves have surged demand for BOPP packaging tapes in the market.
- Several important restaurants have initiated customized tapes for takeaway food for packaging, which is augmenting their brand image among several customers. The retail market for surging economies has recently adopted customized BOPP packaging tapes for packaging, which is bound to keep the hopes high for the BOPP packaging tapes market.
- Utilization of BOPP packaging tapes is simpler which makes it a widely used item in sealing and packaging in the manufacturing & warehousing verticals. From the aforementioned factors, it has been anticipated that BOPP packaging tapes are expected to bolster over the projection period.
Competitive Landscape
The global BOPP packaging tapes market competitive landscape includes new product launches, partnerships, joint ventures, mergers, and acquisitions.
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.
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Region-wise Insights
Europe to Mark its Precedence in the Coming Years
The Europe region is projected to maintain its precedence in the BOPP packaging tapes market. FMI has estimated the region to account for more than 28.8% market share over the forecast period. Surging demand for BOPP packaging tapes from the packaging applications like consumer goods, pharmaceuticals, and electronics industry is propelling the market growth. High discretionary income, particularly among consumers of age between 25 to 44 years, is also a key factor driving the BOPP packaging tapes industry.
The importance of adhesive tapes is growing across the packaging industry due to its key role in green innovation. This is resulting in an increase in innovations in the market. For instance, in September 2021, Monta Klebebandwerk GmbH, a German tape manufacturer, has created a self-adhesive tape, which is based on industrial plastic waste. Monta reTec 831, the new self-adhesive tape, is made of post-industrial recycled polypropylene (rPP).
What’s keeping Asia BOPP Packaging Tapes Market in the Limelight?
Asian Market to Witness Maximum Turbulence
The availability of cost-effective raw materials and labor has influenced multinational companies to move their production plants to the Asian region. This is expected to, thus, put the Asian market into the limelight. Surge in the production of corrugated sealing tapes in Taiwan is projected to contribute toward regional growth. Additionally, India’s robust performance is also expected to keep the market growth at an all time high. India is forecast to expand at 6.9% CAGR over the forecast period.
Top manufacturers of BOPP packaging tapes are setting up their production base in this region due to the reasons mentioned above. The demand for corrugated boxes in the Asian market grew by 20% in the year 2022. This is indicative of the demand for BOPP packaging tapes in the region and this streak is expected to continue all through 2033 as well.
Key Players:
- Bolex Shenzen
- Adhesive Products Co. Ltd.,
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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
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