New Jersey, NJ, Jan. 17, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global synthetic paper market is expected to grow from USD 773.28 Million in 2018 to USD 1,358.37 Million by 2026, at a CAGR of 7.30% during the forecast period 2019-2026. The 100% recyclability, and growing applications for printing, and paper bags are expected to drive the global synthetic paper market.
Market Outlook of the Synthetic Paper
- Synthetic papers are manufactured from the synthetic resin derived from petroleum as the main material. As a result the synthetic papers exhibit properties similar properties to that of plastic films. Synthetic papers were engineered to be durable like plastic and appear, feel and print like the traditional paper. Due to their tear-resistant, chemical-resistant, water-resistant and durability properties as compared to the paper, the synthetic papers are finding a wider acceptance in the pharmaceuticals, cosmetics as well as food & beverages industries for printing, packaging and labeling purposes. The 100% recyclability, and growing applications for printing, and paper bags are expected to drive the global synthetic paper market.
- Even though the factors such as rising utilization in the pharmaceutical and food & beverages industries, superior printability and durability properties of synthetic paper along with the rapid growth of the packaging and label industry are driving the global synthetic paper market, the costlier price of synthetic paper as compared to the normal paper and volatility in the raw material prices are expected to restrain the market growth over the forecast period. Global emphasis rescuing the deforestation, rising acceptance of synthetic paper currencies, and increasing demand from the Asia Pacific region is anticipated to develop opportunities for the market growth in the upcoming years.
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Raw Material Segment Analysis of the Synthetic Paper Market
- BOPP
- HDPE
- PET
- Others
The BOPP segment emerged as the leader in the global synthetic paper market with USD 416.95 million revenue in 2018. BOPP papers are witnessing an increased demand due to their enhanced properties, such as heat stability, water resistance, fatigue resistance, high tensile strength, and ease of printing. BOPP papers are being utilized for varied purposes such as packaging and labeling of food products, printing of business cards, calendars, book covers, newspapers, and maps among others.
Application Segment Analysis of the Synthetic Paper Market
- Labels
- Printing
- Paper Bags
There has been a growing demand for the durable and superior quality prints for outdoor applications. Consequently, the printing segment is anticipated to grow at an accelerated CAGR of 9.59% over the forecast period.
End User Industry Segment Analysis of the Synthetic Paper Market
- Packaging
- Paper
- Others
The paper segment dominated the global synthetic paper market with USD 453.22 million revenue in 2018. The superior moisture resistance, tear resistance, UV resistance, and durability properties make the synthetic papers suitable for the outdoor advertising in form of prints, banners, signs, window displays among others. As a result the paper segment is bound to witness an increased demand over the forecast period.
Region Segment Analysis of the Synthetic Paper Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region emerged as the largest market for the synthetic paper with a 39.92% share of market revenue in 2018. Burgeoning demand from the end user industries such as packaging, food & beverages, cosmetics, pharmaceuticals coupled with the growing demand for the environmentally sustainable packaging products, led the Asia Pacific region to dominate the global synthetic paper market in 2018. Ready availability of the raw materials coupled with the steady demand from the outdoor publicity and food packaging industry are expected to propel the Middle East and Africa to grow at a robust pace over the forecast period.
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Competitive landscape and key vendors
- Key players in the global synthetic paper market are Nan Ya Plastics Corporation, PPG Industries, Agfa-Gevaert Group, Yupo Corporation, Arjobex SAS, American Profol, HOP Industries Corporation, Relyco Sales, Transilwrap Company, Inc., Cosmo Films, MDV Papier- Und Kunststoffveredelung Gmbh, Neenah Inc., Seiko Epson Corporation, and Toyobo Co., Ltd among others
- For instance, in 2017, Neenah Paper launched Kimdura DualTech synthetic paper in its portfolio of labels for harsh environments, which is estimated to go into applications such as labels and tags for drum chemicals, hazard communications, health care, and industrial.
- For instance, in 2017, Neenah Paper launched Kimdura DualTech synthetic paper in its portfolio of labels for harsh environments, which is estimated to go into applications such as labels and tags for drum chemicals, hazard communications, health care, and industrial.
About the report:
The global synthetic paper market is analysed on the basis of value (USD Million) volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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