Projected to achieve a market valuation of US$ 18,954.8 million in 2023, the global BOPP packaging tapes market is on a trajectory towards substantial growth, reaching an estimated US$ 29,719.2 million by the close of 2033. This progression entails a consistent Compound Annual Growth Rate (CAGR) of 4.6% over the coming decade. The BOPP packaging tapes market’s robust outlook is underpinned by factors such as increased demand for efficient and reliable packaging solutions, further emphasizing its pivotal role in meeting the evolving needs of various industries worldwide. The forecast positions the market as a key player in the packaging landscape.
Renowned for their cost-effectiveness and efficacy, BOPP packaging tapes stand out as integral components within packaging solutions, showcasing versatility across various applications. The fundamental composition of these tapes incorporates a thermoplastic polymer, enabling their usage in diverse settings, both under cool and hot temperatures. This adaptability underscores the reliability of BOPP packaging tapes, making them a preferred choice in a spectrum of industries where temperature variations are a factor in packaging requirements.
Maintaining its lead in the BOPP packaging tapes market, Europe is forecasted by FMI to secure more than 28.8% market share throughout the forecast period. The escalating demand for BOPP packaging tapes in packaging applications, particularly in the consumer goods, pharmaceuticals, and electronics sectors, is a key driver propelling market growth in the region. The industry is further stimulated by the high discretionary income, notably among consumers aged 25 to 44 years, underscoring the market’s responsiveness to demographic trends. The increasing significance of adhesive tapes in promoting green innovation within the packaging industry has led to notable advancements, exemplified by Monta Klebebandwerk GmbH’s creation of a self-adhesive tape derived from industrial plastic waste in September 2021.
BOPP packaging tapes are increasingly used in F&B, chemicals, and pharmaceuticals sectors. BOPP packaging tapes are impervious to chemicals and moisture, thereby protecting the insides of the packaging safe from any environmental factor. Usage of BOPP packaging tapes ensures safety and quality of the contents. Following factors have been responsible for its use in packaging food, chemicals, and pharmaceuticals.
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BOPP packaging tapes are easy to be printed, making them a perfect solution for marketing and branding. Additionally, they are a cost-effective option for businesses that pack large volumes of products. Increasing adoption of BOPP packaging tapes by large businesses to meet their marketing needs is projected to boost market growth.
These tapes are also recyclable, making them a sustainable option for businesses to reduce their environmental impact. BOPP packaging tapes are an ideal packaging material for industrial products like chemicals, fertilizers, and cement. These tapes are suitable for industrial packaging owing to its durability, strength, and resistance to damage resulted from abrasions.
BOPP packaging tapes are being increasingly used to pack pharmaceuticals since it protects the contents from environmental factors. These tapes are an outstanding option to pack vitamins, packaging drugs, and other supplements.
BOPP packaging tapes are also used in textile industry to pack cartons of fabrics to seal them from dust and moisture during transport and storage. This helps preserve the quality of the textile being transported. In addition to this, the automotive and construction also employs BOPP packaging tapes due to its high-quality performance.
Top Highlights from the FMI’s Analysis of BOPP Packaging Tapes Industry:
- The Europe BOPP packaging tapes held a considerable share in the historical period. In 2022, the region registered 8% market share. Over the forecast period, the European region is expected to continue its market dominance.
- Following behind is North America, which attained 8% market share in 2022. Maximum share in the region is shared by the United States, which obtained 18.8% share in 2022.
- In the European region, Germany is expected to hold 9% market share. Besides, the United Kingdom is expected to expand at 1.6% CAGR in the next 10 years.
- In the Asia Pacific, India is anticipated to flourish at a significant CAGR of 6.9% over the forecast period.
- Based on adhesive, hot melt rubber is expected to attain 8% market share.
- On the basis of end use, the manufacturing and warehousing segment is projected to attain a maximum of 4% market share.
Other companies operating in the market include
- Bolex Shenzen Adhesive Products Co. Ltd.
- Intertape Polymer Group Inc.
- Vibac Group S.p.A
- Delphon Industries LLC
Key Developments Inducing the BOPP Packaging Tapes Market Growth
- Clearlake Capital Group, L.P. completely acquired Intertape Polymer Group Inc. in June 2022.
- Tesa S.E. laid the foundation for a new plant in Haiphong in January 2022. For this project, the company invested US$ 65.07 million. At this facility, the company is expected to produce 40 million square meters of adhesive tape annually.
Manufacturing and Warehousing Segment to Dominate the Market
The manufacturing and warehousing segment dominates with a substantial 62.4% market share throughout the forecast period. Presently, consumer fascination with product packaging and the growing trend towards customization have led to the widespread adoption of customized BOPP printed packaging tapes for sealing products adorned with a company’s brand name. This surge in demand for BOPP packaging tapes is notably driven by the incorporation of branding elements. Leading restaurants have embraced customized tapes for packaging takeaway food, enhancing their brand image among customers. In emerging economies, the retail sector has also embraced the use of customized BOPP packaging tapes, signaling promising prospects and sustained growth for the BOPP packaging tapes market.
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Key Segments Covered in BOPP Packaging Tapes Market Research
By Thickness:
- 35 – 50 Micron
- 51- 65 Micron
- Above 65 Micron
By Adhesive:
- Hot Melt Rubber
- Hot Melt Acrylic
By Width:
- 11mm -30 mm
- 31mm – 70 mm
- Above 70 mm
By End-user:
- Manufacturing & Warehousing
- Food & Beverages
- Chemicals & Lubricants
- Electronics & Electricals
- Automotive
- Personal care & Cosmetics
- E-Commerce
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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