The global Synthetic Paper Market size is anticipated to value at USD 1.3 billion by 2024. The market is subject to witness substantial growth due to the growing environmental concerns and numerous initiatives taken by local governments coupled with the rising need for packaging and labeling in packaged food & beverages. Numerous benefits offered by the use of synthetic paper include recycling and reduction in byproducts during manufacturing processes, which are some of the key factors driving the growth of the market in the present times. The adoption of synthetic paper allows reusability over some time, while the adoption of conventional paper cannot be recycled more than two to three times.
Additionally, essential properties associated with synthetic paper include water-resistant, dust resistance, stress-resistant, and heat-resistant, thus fueling the growth of the market in recent times. Globally, the synthetic paper market is predicted to grow at a CAGR of 7.1% in the forecast period, providing numerous opportunities for market players to invest in research and development in the synthetic paper industry.
The synthetic paper offers excellent physical properties such as resilience and high-stress resistance coupled with along suitable chemical properties for various labeling services, thus boosting the growth of the synthetic paper market in near future. The application of synthetic paper varies from the packaging industry to the chemicals industry. The increasing cost associated with crude oil is likely to hamper the cost of PP and PE, leading to the rising constraint for market growth. Additionally, the increase in applications of synthetic paper and the availability of raw materials are key factors restraining the growth of the market.
The rise in activities such as deforestation by regional governments and environmental protection organizations are some of the major factors for the rising adoption of synthetic papers. The regular use of synthetic paper promotes conservation of the environmental resources. The consistent growth of the packaging and labeling industry across the globe is subject to an increase in the market value of synthetic paper during the forecast period.
Growing preference towards carton packaging and blister packaging is expected to drive the synthetic paper industry in the coming years. Synthetic paper is the perfect blend of premium quality associated with the high-cost papers and strength of plastic films coupled with a smooth surface, making an ideal choice for present and future applications. The use of synthetic paper allows integration of miniature electronic devices such as RFID tags, which are mainly used in passports to provide durability, security, and high-performance
Synthetic paper is produced from synthetic resin which is derived from crude oil and considered as a base ingredient during the production of synthetic paper. The synthetic paper constitutes characteristics similar to that of the plastic film. Synthetic paper is produced to inhabit properties of regular while exhibiting properties of plastic-like durability and resilience. Synthetic paper gives out the feel of regular paper.
Synthetic paper is majorly categorized into two kinds based on processes implemented during their manufacturing such as fiber synthetic paper and film synthetic paper. Film synthetic paper constitutes a larger portion of the market due to numerous benefits associated with the use of fiber synthetic paper.
The synthetic paper market is divided into regional market segments such as North America, Europe, Asia-Pacific, Latin America, and Africa. Asia-Pacific region is predicted to hold a major market share in the synthetic paper industry with massive growth in the forecast period. Countries such as India, China, and Singapore are leading the Asia-Pacific market with the blooming packaging industry due to a substantial rise in the consummation of packaged food and soft drinks.
North America has shown major growth in recent years owing to the easy availability of synthetic paper in comparison with the conventional cellulosic due to high import duty on the latter, the low cost associated with the use of synthetic paper, and the presence of well-established industry players. The key players in the synthetic paper industry are PPG Industries, Arjobex Co., DuPont, American Profol Inc., Hop Industries Co., Taghleef Industries, Nan Ya Co., and Neenah Papers.
Synthetic Paper Product Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2024)
Synthetic Paper Application Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2024)
Synthetic Paper Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2024)
• North America
• the Asia Pacific
• Latin America
• Middle East & Africa
Research Support Specialist, USA
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