Recent technological developments, awareness about ecology and demand from end use industries for paper, paper bags and other paper products is largely contributing to high CAGR of synthetic paper market
Market Size – USD 533.0 Million in 2018, Market Growth – CAGR of 7.8%, Market Trends – Product Launches and Research for Advanced Tech Developments
NEW YORK, May 22, 2019 (GLOBE NEWSWIRE) -- Based on current analysis, the Global synthetic paper market was valued at USD 533.0 million in 2018 and is anticipated to reach USD 973.0 million by 2026, at CAGR of 7.8%. Synthetic papers have qualities those of a regular paper made from natural resources. Natural or regular paper is manufactured from wood pulp. On the other hand, synthetic paper is derived from synthetic resins classified from petroleum as its principal material. Synthetic papers hold few beneficial properties, such as, grease, water, oil, chemical and tear resistance consisting of regular paper’s radiant white and printable surface. A major benefit that synthetic papers have over regular papers is resistance to yellowing and far durable life. These well performing qualities of synthetic paper have resulted in gaining high popularity as product of choice for almost end user industries.
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In product type, Biaxially Oriented Polypropylene Bags (BOPP) holds maximum share of the market proving to be revenue generating material type of synthetic papers. Rising demand for energy efficient and eco-friendly products is forecasted to boost the global synthetic paper market in years to come. In addition, growing agricultural sector, food and beverages industries, general applications sectors, such as labels segments are likely to be termed as market drivers for global synthetic paper market. In the global synthetic paper market, Asia-pacific is forecasted to lead the race of achieving high market share. There is a growing demand for this region because of the recent technological developments, awareness about ecology and demand from end use industries for paper, paper bags and other paper products.
Further key findings from the report suggest
- Cosmo films has launched an upgraded version of synthetic paper which could replace paper in numerous occasions. This film has a capacity to replace paper in all applications possible in daily life where prevention, durability and continuous usage of paper are required
- In product type, Biaxially Oriented Polypropylene Bags (BOPP) holds maximum share of 56.8% proving to be the most revenue generating material type of synthetic papers
- Synthetic papers are engineered to have in built sturdiness and durability in wide range of applications needing resistance to elements. For example, oil and chemical resistant drum labels. Medical applications, where labels should be tear and water resistant
- In the global synthetic paper market, Asia-pacific is forecasted to lead the race of achieving high market share of 32.2% due to rising urbanization, improving consumer lifestyle and overall sustainability
- Key market players have marketed new products and brands of synthetic paper for further broadening the scope of synthetic paper market. Synthetic paper options are determined expressly for one specific application
- The factor that contributes to the growth is its maximized use for labelling, printing and laminating applications. There has been an incredible growth in the consumption of synthetic paper in xerography
- European synthetic paper market is growing at 7.5% of CAGR owing to the key manufacturers of the synthetic paper industry
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Segments covered in the report:
For the purpose of the study, this Reports and Data has segmented the Global Synthetic Paper Market on the basis of Product type, Applications, Manufacturing process, End use industry and the regional outlook:
Product type (Revenue, USD Million; 2016–2026)
- Biaxially Oriented PolyPropylene Films (BOPP)
- High Density Polythene (HDPE)
- Polyvinyl Chloride (PVC)
- Other
Applications (Revenue, USD Million; 2016–2026)
- Labelling
- Printing
- Paper bag making
- Other
Manufacturing process (Revenue, USD Million; 2016–2026)
- Film Synthetic Paper
- Fiber
- Film Laminate
- Other
End use industry (Revenue, USD Million; 2016–2026)
- Packaging
- Transportation
- Pharmaceuticals
- Cosmetic And Personal Care
- Manufacturers
- Other
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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