Synthetic Paper Industry Overview
The global synthetic paper market size was estimated at USD 802.1 million in 2017 and is expected to reach USD 1.39 billion by 2025, expanding at a CAGR of 7.1% during the forecast period. Increasing product penetration in the packaging and label industry owing to its properties such as exceptional printability, predictable convertibility, and a smooth surface for improved production is expected to boost market growth.
Synthetic paper is a suitable printing medium for indoor advertisements, posters, banners, and other kinds of photo printing. The special layer of coating on the paper makes the image more colorful and attractive as well as exhibits resistance against chemicals, grease, folding, and heat. This, in turn, increases its application in the development of toxic-free thermoforming products for food packaging.
Gather more insights about the market drivers, restrains and growth of the Global Synthetic Paper Market
The product is used as an alternative to PVC films on account of its environmental benefits such as recyclability and limited carbon dioxide emissions during the manufacturing process. Furthermore, multi-wall paper bags and pouches are being converted to plastic-paper sacks, thereby complementing market growth over the forecast period.
Traditionally, sheet wraps around stick labels were made of lithographically printed art paper laminated with BOPP protective film. However, they failed to provide overall waterproof function, and the cost was higher in comparison to synthetic paper. The product is replacing traditional material owing to its better printing ability, quality, and waterproof properties, thereby increasing its penetration in label and beverage packaging applications.
Synthetic papers offer different functionalities in various industries including cosmetics, food and beverages, and pharmaceuticals for printing and packaging and labeling. The products have high durability, water-proof and chemical, tear, and oil resistant. Furthermore, the outstanding printability of the products has resulted in increased penetration of the product in various end-user industries, thereby driving its demand over the projected period.
Digital printing is expected to pave the way for new opportunities for the product over the forecast period. However, lack of awareness regarding the use of the product in pressrooms is expected to restrain its market growth. In addition, the low-cost is likely to hinder the development of high-cost synthetic paper over the forecast period.
Synthetic Paper Market Segmentation
Based on the Product Insights, the market is segmented into Biaxially Oriented Polypropylene, High-Density Polyethylene, Polyethylene Terephthalate, & Others
The rising demand for eco-friendly packaging in consumer products, pharmaceutical, food and beverage and industries owing to rising concerns for reducing greenhouse emissions on a domestic level is anticipated to drive the growth of biobased Polyethylene Terephthalate (PET).
The superior properties exhibited by Biaxially Oriented Polypropylene (BOPP) have resulted in its extensive use in the packaging of chemicals, textile, cosmetics, and food and beverages.
Based on the Application Insights, the market is segmented into Label & Non-Label
The product is widely used in non-label applications as it meets all the environmental requirements and does not cause pollution on account of their ability to not produce any toxic gases during the incineration process.
Labels are widely used in household goods such as laundry detergent and liquid soap as well as invitation and visiting cards.
Based on the Regional Insights the market is segmented into North America, Europe, Asia Pacific, & Middle East & Africa
Asia Pacific is estimated to account for 30.3% of the global market share by 2025, on account of the rising urbanization, growth in cost per package, sustainability, and the improving consumer lifestyle in emerging economies of China and India.
The growing food packaging industry in Middle East and Africa is expected to augment the market growth over the forecast period.
Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports
Polyethylene Terephthalate Market: The global polyethylene terephthalate market size was valued at USD 25.25 billion in 2018. It is anticipated to register a CAGR of 5.6% over the forecast period. Polyethylene terephthalate, commonly known as PET or PETE, is a non-toxic, lightweight, safe, and flexible material, which can be recycled and reused efficiently.
Metalized Biaxially Oriented Polypropylene Films Market: The global metalized biaxially oriented polypropylene films market size was valued at USD 5.4 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 6.0% from 2020 to 2027. The growing packaging industry, which is driven by high consumerism in emerging economies, is expected to boost the demand for metalized biaxially oriented polypropylene (MBOPP) film over the forecast period.
Market Share Insights
August 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.
Key Companies Profile:
The presence of a limited number of global players has triggered market competition. The companies are expected to focus on product differentiation over the forecast period.
Some of the prominent players in the global synthetic paper market include:
PPG Industries, Inc.
Nan Ya Plastics Corporation
Order a free sample PDF of the Synthetic Paper Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
Country: United States