Dublin, March 30, 2023 (GLOBE NEWSWIRE) -- The "Synthetic Paper Market by Type (Biaxially Oriented Polypropylene (BOPP), High Density Polyethylene (HDPE), Polyethylene Terephthalate (PET), and Others), Application (Label, Non-Label), End Use Industry (Industrial, Institutional, Commercial/Retail), and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global synthetic paper market size reached US$ 932.5 Million in 2022. Looking forward, the analyst expects the market to reach US$ 1,481.4 Million by 2028, exhibiting a CAGR of 8.02% during 2022-2028.
The rising product demand in the food and beverage (F&B) industry, increasing consumer awareness regarding product benefits, and introduction of sustainable manufacturing process represent some of the key factors driving the market.
Synthetic paper is a highly durable material that offers dimensional stability, ease of printing, and excellent tensile and tear strength. It is also similar in appearance and touch to regular paper and provides resistance to water, oil, grease, and chemicals. As a result, synthetic paper finds extensive applications across the food and beverage (F&B), cosmetics, healthcare, chemical, and packaging industries.
Synthetic Paper Market Trends:
The rising product demand in the F&B industry is one of the primary factors driving the market growth. Synthetic paper is widely used in the packaging, labeling, and wrapping of various food products, such as sandwiches, burgers, hot dogs, snacks, frozen products, and ready-to-eat (RTE) meals, as it is highly durable and resistant to water, oil, and tear. Furthermore, increasing consumer awareness regarding various product benefits, as it is an inorganic material that is easy to recycle, minimizes waste, and reduces the emission of toxic gases, is providing an impetus to the market growth.
Apart from this, rising product adoption in the healthcare and pharmaceutical industries for producing medical labels, patient's wristbands, prescriptions, over-the-counter labels, and tags for nurseries, medical equipment, blood bags, and vials, due to its ability to provide protection against tampering and withstanding cryofreezing and sterilization processes, is propelling the market growth.
Additionally, the introduction of eco-friendly synthetic paper that is manufactured using sustainable processes and recycled raw materials, such as HDPE, which, in turn, reduces wastage, and preserve water resources, is positively influencing the market growth. Other factors, including rising product utilization in advertising applications, implementation of stringent regulations by several governments to promote the use of recycled and reusable papers, and increasing environmental concerns regarding the use of pulp paper, are anticipated to drive the market growth.
Key Market Segmentation:
The analyst provides an analysis of the key trends in each segment of the global synthetic paper market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type, application, and end use industry.
Type Insights:
- Biaxially Oriented Polypropylene (BOPP)
- High Density Polyethylene (HDPE)
- Polyethylene Terephthalate (PET)
- Others
The report has also provided a detailed breakup and analysis of the synthetic paper market based on the type. This includes biaxially oriented polypropylene (BOPP), high density polyethylene (HDPE), polyethylene terephthalate (PET), and others. According to the report, BOPP represented the largest segment.
Application Insights:
- Label
- Hand Tags
- Medical Tags
- Others
- Non-Label
- Packaging
- Documents
- Others
A detailed breakup and analysis of the synthetic paper market based on the application has been provided in the report. This includes label (hand tags, medical tags, and others) and non-label (packaging, documents, and others). According to the report, non-label accounted for the largest market share.
End Use Industry Insights:
Industrial
- Institutional
- Commercial/Retail
A detailed breakup and analysis of the synthetic paper market based on the end use industry has been provided in the report. This includes industrial, institutional, and commercial/retail. According to the report, industrial accounted for the largest market share.
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global synthetic paper market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global synthetic paper market?
- What are the key regional markets?
- Which countries represent the most attractive synthetic paper markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use industry?
- What is the competitive structure of the global synthetic paper market?
- Who are the key players/companies in the global synthetic paper market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Synthetic Paper Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by End Use Industry
9 Market Breakup by Region
10 Drivers, Restraints, and Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
Companies Mentioned
- Agfa-Gevaert N.V.
- Aluminium Feron GmbH & Co. KG
- Arjobex SAS
- Cosmo First Limited
- HOP Industries Corporation
- MDV Papier- und Kunststoffveredelung GmbH
- Nan Ya Plastics Corporation
- PPG Industries Inc.
- RELYCO
- Seiko Epson Corporation
- Toyobo Co. Ltd.
- Transcendia Inc.
- Yupo Corporation
For more information about this report visit https://www.researchandmarkets.com/r/uxfzuz
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