Synthetic paper market worth $1,286 million by 2027

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CHICAGO, April 12, 2022 /PRNewswire/ — According to new market research report Synthetic paper market by raw material (BOPP, HDPE, PET and PVC), application (printing, labels and tags, packaging), end-use industry (industrial, institutional and commercial/retail) and geography – global forecast to 2027″ , published by MarketsandMarkets™, the global synthetic paper market size is estimated at $766 million in 2021 and is expected to reach $1,286 million by 2027, at a CAGR of 9.2%, between 2022 and 2027. The growth of the global synthetic paper market is directly linked to the strict government regulations against deforestation which results in high demand for conventional resources. For more than four decades, global demand for paper has increased by 400%, with harvested trees accounting for 35% of all paper produced. Environmentally friendly manufacturing and recyclable nature of synthetic paper will help it gain market share over the forecast period. Rising population and urbanization in different regions of the world are the major drivers for the growth of the global synthetic paper market. The rise in China as a global manufacturing power has increased the demand for synthetic paper globally.

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BOPP is the largest commodity segment of the synthetic paper market

Based on raw materials, the synthetic paper market includes BOPP, HDPE, PET, and PVC. The BOPP raw materials segment led the application segment of the market in terms of value and volume. BOPP is widely used in applications that require heat stabilities, water and fatigue resistance, high tensile strength and ease of printing. Due to its ability to be made into a thin transparent substrate, BOPP can be used for labels and printing applications. BOPP can be environmentally friendly and low in toxicity, which makes this synthetic paper used for packaging food and beverages.

Printing is the largest application segment of the synthetic paper market

Based on the applications, the synthetic paper market is divided into printing, tags and labels, packaging and others. Printing is the largest application for synthetic paper. It has micropores on the surface, allowing 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 over conventional papers. Synthetic paper has a lower static surface, which prevents double-feeding and facilitates the printing process, making synthetic papers suitable for various printers for multiple printing applications. These printing applications include menus, personalized marketing materials, point of sale displays, wristbands, cards/envelopes, tickets/passes and labels for various end-use industries.

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Asia Pacific is the largest market for the synthetic paper market

the Asia Pacific The region is expected 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 The region can be attributed to the high economic growth rate and the diverse eating habits, packaging and printing preferences of the people of different countries in the region. Additionally, the growing population in the region presents a huge customer base for fast moving consumer goods (FMCG) and packaged food and beverages, which is expected to drive the growth of the synthetic paper market over the forecast period. Asia Pacific is the largest and most promising synthetic paper market and is expected to continue during the forecast period. Rising population, growing disposable income, rapid industrialization and increased urbanization are driving the synthetic paper market by Asia Pacific. The market in the region is mainly driven by various end-use industries, such as food and beverages, cosmetics, pharmaceuticals, chemicals, and manufactured goods.

PPG Industries, Inc. (USA), Seiko Epson Corporation (Japan), Agfa-Gevaert Group (Belgium), Yupo Corporation (Japan) and Arjobex SAS (France) are key players in the synthetic paper market.

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https://www.marketsandmarkets.com/Market-Reports/specialty-paper-market-47052108.html

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