Increasing applications of medium and heavy-duty cartons in international and domestic operations require superior sealing materials at an industrial scale. Ideal applications in warehousing and manufacturing businesses are major factors supporting the growth of the global BOPP packaging tapes market. The global BOPP packaging tapes market will cross a market valuation of US$ 16 Bn by 2029. High growth potential in emerging economies boosts production rates. The trend of customizing BOPP packaging tapes is another key market influencer.
"BOPP tapes enable low noise during packaging on the cartons, and is used widely for machine applications to provide accurate and uniform sealing. Its resistance to extreme weather and higher tensile strength, drives adoption," says the FMI analyst
Global BOPP Packaging Tapes Market - Key Takeaways
- Warehousing & manufacturing, followed by e-commerce are the leading end use industries for BOPP packaging tapes.
- Customized BOPP packaging tapes will gain a larger demand share over single-color/plain alternatives through the forecast period.
- The food & beverages sector will make substantial applications of BOPP packaging tapes, for superior accuracy and durability.
- The 35-50-micron segment will account for 2/5th of the overall market revenue share.
- Hot melt rubber, and hot melt acrylic adhesives are popular options, for faster bonding and higher durability respectively.
- East Asia will remain a prominent regional market for the global BOPP packaging tapes industry, driven by a major global presence of China.
Global BOPP Packaging Tapes Market - Key Driving Factors
- Superior characteristics including double sided adhesion, transparency, ease of use, chemical and water resistance, superior retraction rates, and non-toxicity drive demand.
- High demand in retail packaging applications is a primary driver for growth in the BOPP packaging tapes market.
- Increasing adoption of smart technologies, and innovative applications in the e-commerce industry will also contribute to growth.
- Manufacturers are targeting lucrative growth opportunities in South and East Asia, which will aid in a stronger market position.
Global BOPP Packaging Tapes Market - Key Restraints
- Strict government regulations against product such as single use plastics are expected to remain a major challenge for manufacturers.
- Increasing consumer preference for tapes using bio-based adhesives is also likely to hinder market growth.
The Coronavirus Impact
The covid-19 pandemic has had a major impact on the global packaging industry. With production and supply chain disruptions, manufacturers are seeking options out of China. As workers in manufacturing facilities are being forced to self-isolate, supplies of BOPP packaging tapes are likely to fall short owing to factory closures.
It is increasingly becoming important to avoid having all suppliers in one region, even as the condition becomes more volatile with the continuing threat of climate change. In addition, the use of sustainable materials such as reusable plastics will also be hit as the outbreak spreads, influencing the global BOPP packaging tapes market.
Competitive Landscape
Market players in the BOPP packaging tapes market are prioritizing market penetration into the emerging markets of South Asia and East Asia. A key growth strategy adopted by manufacturers is development of new product offerings, in addition to leveraging growth in the manufacturing sector. Major market players that influence competition in the BOPP packaging tapes market are, but not limited to, Bolex Shenzen Adhesive Products Co. Ltd., Intertape Polymer Group Inc., Vibac Group S.p.A, 3M Company, Delphon Industries LLC, and Tesa SE.
Press Release Source: https://www.accesswire.com/584983/BOPP-Packaging-Tapes-Market-Pegged-at-over-US-16-Bn-by-2029-Production-Halts-Due-to-Coronavirus-Crisis-Leading-to-Shortages-Finds-FMI-in-a-New-Study
Explore Extensive Coverage of FMI's Packaging Landscape
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