DUBLIN--(BUSINESS WIRE)--The "Synthetic Paper Market by Raw Material (BOPP, HDPE, PET, and PVC), Application (Printing, Labels & Tags, Packaging), End-use Industry (Industrial, Institutional, and Commercial/Retail) and Geography - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global synthetic paper market size is estimated at USD 766 million in 2021 and is projected to reach USD 1,286 million by 2027, at a CAGR of 9.2%, between 2022 and 2027.
BOPP is the largest raw material segment of the synthetic paper market
Based on raw materials, the synthetic paper market includes BOPP, HDPE, PET, and PVC. The BOPP raw material segment led the application segment of the market in terms of both value and volume. BOPP is extensively used in applications that require heat stabilities, water and fatigue resistance, high tensile strength, and ease of printing. Due to the ability to be manufactured into a thin transparent substrate, BOPP can be used for labels and printing applications. BOPP can be environmentally friendly and low in toxicity, making this synthetic paper used to pack food items and beverages.
Printing is the largest application segment of the synthetic paper market
Based on applications, the synthetic paper market is divides into printing, labels & tags, packaging, and others. Printing is the largest application of synthetic paper. It has micropores on the surface, enabling better affinity for ink holding and providing a high-quality finish. Its properties such as durability, tear resistance, water resistance, scratch resistance, and abrasion resistance make it an important substrate against conventional papers. The synthetic paper has a lower static surface, which prevents double feeding and eases the printing process, making synthetic papers suitable with various printers for several printing applications. These printing applications include menus, personalized marketing materials, point of purchase displays, wrist bands, cards/envelopes, tickets/passes, and labels for various end-use industries.
Industrial is the largest end-use industry segment of the synthetic paper market
Based on end-use industry, the synthetic paper market is divides into industrial, institutional, and commercial/retail. The industrial end-use industry segment is the largest end-user of synthetic paper. Synthetic paper is used in industrial product identification tags, Industrial labels. Outdoor applications for synthetic paper include billboards, horticulture ID tags, and bus shelter displays. It is resistant to moisture and chemicals and maintains print color consistency in the face of UV exposure and various weather conditions. Furthermore, the non-tearable paper has superior strength and excellent printability with various printing techniques.
Asia Pacific is the largest market for synthetic paper market
The Asia Pacific region is projected to be the largest market, in terms of value. Asia Pacific is expected to grow at a CAGR of 9.4% during the forecast period. The growth of Asia-Pacific region can be attributed to the high economic growth rate and various eating habits, packaging & printing preferences of people across different countries of the region. Also, the multiplying population of the region presents a huge customer base for fast-moving consumer goods (FMCG) products and packaged food & beverages, which is expected to lead to the growth of the synthetic paper market during the forecast period.
Asia Pacific is the largest and the most promising synthetic paper market and is expected to continue during the forecast period. Rising population, growth in disposable income, rapid industrialization, and increased urbanization are driving the synthetic paper market in Asia Pacific. The market in the region is mainly driven by various end-use industries, such as foods & beverages, cosmetics, pharmaceuticals, chemicals, and manufacturings.
Market Dynamics
Drivers
- Synthetic Papers Are Eco-Friendly and Possess Ideal Physical Properties
- Synthetic Papers Have Wide Areas of Application
Restraints
- Fluctuation in the Price of Raw Materials and Crude Oil
Opportunities
- Stringent Government Regulations and Increasing Concerns About Pulp Paper for Environmental Pollution
Challenges
- Exorbitant Prices of Synthetic Papers
Companies Mentioned
- Ppg Industries, Inc.
- Agfa-Gevaert Group
- Aluminium Feron GmbH & Co. Kg
- American Profol Inc.
- Arjobex Sas
- Cosmo Films Ltd.
- Elastin International Corp.
- Hop Industries Corporation
- Huanyuan Plastic Film Co. Ltd.
- Hwaseung Industries Co. Ltd.
- Innovia Flims
- Kaveri Metallising & Coating Industries Pvt. Ltd.
- Masterpiece Graphix
- Mdv Papier-Und Kunststoffveredelung Gmbh
- Nan Ya Plastics Corporation
- Neenah Inc.
- Relyco Sales, Inc.
- Ruian Rifo Packaging Material Co. Ltd.
- Seiko Epson Corporation
- Shijiazhuang Dadao Packaging Materials Co.Ltd.
- Tamerica Products Inc.
- Toyobo Co. Ltd.
- Transilwrap Company, Inc.
- Valeron Strength Films
- Yupo Corporation
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