Synthetic Paper Market in Americas 2017-2021
About Synthetic Paper
Synthetic paper is manufactured using synthetic resins derived from petroleum, which is the main raw material for the production. The paper has the characteristics of both plastic films as well as regular paper and is available in different grades and thicknesses based on the application. The features of the paper are like plastic films, but the appearance of synthetic paper is similar to that of regular paper. Synthetic paper is white and opaque like regular paper and has a resemblance in terms of the printability and processing capabilities.
Technavio’s analysts forecast the synthetic paper market in Americas to grow at a CAGR of 6.65% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the synthetic paper market in Americas for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Synthetic Paper Market in Americas 2017-2021
Technavio recognizes the following companies as the key players in the synthetic paper market in Americas: DuPont, PPG Industries, Nan Ya Plastics, and YUPO.
Other Prominent Vendors in the market are: Arjobex, HOP industries, Taghleef Industries, American Profol, FLEXcon, Neenah Paper, Transcendia, and Seiko Epson Corporation.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rise in inkjet printing. Inkjet printing has been on the rise since the last 5-8 years. The inkjet technology has remained static, but the market has been growing after 2008. The market reached more than $190 billion in 2016, compared with $120 billion-$140 billion in 2008. The adoption of inkjet technology has grown due to its various features.”
According to the report, one driver in the market is synthetic paper is a sustainable option over conventional paper. The demand for paper has been increasing due to its varied applications. It is used for packaging, cleaning, construction, value representation, storing information, and others. The main raw material used for the production of paper is wood pulp. The rising demand for paper has resulted in increasing deforestation across the world. This imposes a huge threat to the existence of various animals and impacts the environment in several ways. In the US, during 2016, the amount of paper used accounted for more than 9 billion tons, which constitutes around 25%-35% of the global paper consumption.
Further, the report states that one challenge in the market is expected surge in synthetic paper prices. The major supplier of raw materials for the synthetic paper market in the Americas is the oil and gas industry. The volatility in the price of raw materials used in the production of synthetic paper will affect its production. The crude oil prices dipped during the last three years, since 2014, due to over production of the oil by Organization of the Petroleum Exporting Countries (OPEC) and rise in alternatives like shale gas. At present, this has been benefitting the vendors. However, the oil prices are expected to rise in the coming years.
DuPont, PPG Industries, Nan Ya Plastics, and YUPO, Arjobex, HOP industries, Taghleef Industries, American Profol, FLEXcon, Neenah Paper, Transcendia, and Seiko Epson Corporation.