JPEG2000 image compression standard is designed to cater the needs of a large span of applications including numerous consumer products. However, its use is restricted due to the high hardware cost involved in its implementation. Bit Plane Coder (BPC) is the main resource intensive component of JPEG2000. Its throughput plays a key role in deciding the overall throughput of a JPEG2000 encoder. In this paper we present the algorithm and parallel pipelined VLSI architecture for BPC which processes a complete stripe-column concurrently during every pass. The hardware requirements and the critical path delay of the proposed technique are compared with the existing solutions. The experimental results show that the proposed architecture has 2.6 times greater throughput than existing architectures, with a comparatively small increase in hardware cost.