The latest market report published by Credence Research, Inc. “Global BOPP Laminating Films Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global market has acquired a market size of around USD 4.24 billion in 2020 and expected to reach a healthy CAGR of over 8.2% during the forecast period from 2021 to 2027 to reach around USD 6.80 billion in 2027.
Browse the full report at https://www.credenceresearch.com/report/bopp-laminating-films-market
Bi-oriented polypropylene, abbreviated as BOPP, means the polypropylene films produced using an orienting system. Using a tender frame sequential process or the double bubble process, BOPP laminating films are developed. Due to the many benefits of this film, it has become one of the most famous and is highly demanded films all across the world. BOPP Lamination films serve many different purposes, such as packaging, decoration and complimenting print media by their unique properties. It is also noted that BOPP lamination film producers have sacrificed the quality of the films, in order to reduce costs. However, the BOPP lamination film market is expected to see a spike in terms of their use in consumer products like shopping bags, decorative items, luxury products, etc.
Key Trends in Global Market
COVID-19 Impact on the Market
In the early 2020, COVID-19 pandemic had caused many unpleasant conditions for almost all the industries in the world. The respective local government’s regulations and lockdowns measures across the globe directly or indirectly affected the manufacture and supply chain of BOPP lamination films market. The BOPP lamination films market also witnessed some dip in the market scope because of the decline in the consumption of stationery items like notebooks and books, luxury and decorative products due to suspension of public gatherings, which are the main areas of application for the BOPP Laminating films.
On the plus side, the growth of the BOPP lamination films was not drastically pulled down, thankfully enough citing its extensive use in the medical industry. Owing to its multipurpose applications, BOPP laminating film market is expected to rise in a gradual manner.
Global Market by Application Type Insights
On the basis of application type, the market is bifurcated into Printing & Lamination, Adhesive Tape, Photo Album, Garment Bag Decoration Others, Decoration, Others. Packaging holds the largest market share in the applications for BOPP laminating film as these packaging films are predominantly used in the packaging of products in different end-use industries like food & beverages, personal care products, electrical & electronics, pharmaceuticals, and cosmetics, among others. Packaging has high use in Printing & Lamination that strengths market demand for this segment.
Global Market by Regional Insights
North America leads in the market of BOPP lamination films followed by South Asia due to their vast e-commerce industry that makes the vast use of the BOPP lamination films for the packaging of retail and consumer goods.
However, the demand in South Asia may soon lead in the forefront because of the rise in the literacy rate of these regions and therefore causing the consumption of products like notebook covers, which depend largely on the usage of BOPP laminating films. Additionally, the demand from Europe region for BOPP lamination films is also predicted to rise slowly due to reasons like the boosting of e-commerce, medical industry packaging industry, luxury products, etc.
Global Market Competitive Landscape
Some of the most prominent players operating in the global market include COSMO, GBC, DandK, DEPROSA, Mondi, Transilwrap, IPAK, Beijing Kangde Xin, FLEX, GMP and among others.
Global BOPP Laminating Films Market by Application Type, 2015 – 2027
· Printing & Lamination
· Adhesive Tape
· Photo Album
· Garment Bag
Global BOPP Laminating Films Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global BOPP Laminating Films Market: Key Players
· Beijing Kangde Xin