Stratview Research has launched a new report, titled The Biaxially Oriented Polypropylene Market is Segmented by Application Type (Food, Tapes, Tobacco, and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, 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.
Market Segments’ 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.
The following are the key players 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.
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Biaxially Oriented Polypropylene Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Biaxially Oriented Polypropylene Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
Read the full report: https://www.stratviewresearch.com/2441/Biaxially-Oriented-Polypropylene-Market.html
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