Synthetic Paper Market by Raw Material (BOPP, HDPE), Application (Labels, Printing, and Paper Bags), End-Use Industry (Packaging, Paper), Region (North America, Europe, APAC, South America, Middle East & Africa) - Global Forecast to 2024
The synthetic paper market is projected to grow at a CAGR of 8.3% between 2019 and 2024
The synthetic paper market is estimated to be USD 587 million in 2019 and is projected to reach USD 873 million by 2024, at a CAGR of 8.3% from 2019 to 2024. Key factors expected to drive the synthetic paper market include rising environmental concerns due to the use of wood pulp for the manufacture of paper, 100% recyclability, and rising applications for printing and paper bags. Market growth is expected to be restricted due to the high cost and lack of awareness about the usage of synthetic paper.
The BOPP raw material segment is projected to grow at the highest CAGR in the synthetic paper market during the forecast period
Based on raw material, the synthetic paper market has been segmented into BOPP, HDPE, and others. BOPP is used in applications which require heat stability, water resistance, fatigue resistance, high tensile strength, and ease of printing. The demand for the BOPP segment is expected to grow at a higher CAGR during the forecast period due to increase in demand for frozen food, packaging and labeling, business cards, calendars, book covers, newspapers, maps, and garments, among others.
The paper segment is expected to lead the synthetic paper market during the forecast period
The paper end-use industry segment of the synthetic paper market is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to rise in global demand for the printing application. In addition, this industry is expected to witness growing demand from developed regions, such as Asia Pacific, North America, and Europe. Synthetic papers are widely used in the printing application owing to properties, such as moisture resistance, tear resistance, UV resistance, and durability.
Asia Pacific is projected to grow at the highest CAGR in the synthetic paper market during the forecast period
The Asia Pacific synthetic paper market is projected to grow at the highest CAGR during the forecast period. High demand from China, Japan, and India is expected to drive the market in this region. Improving lifestyles of populations, rising environmental concerns, and high demand for printing applications in the countries of this region are fueling the growth of the synthetic paper market.
Breakdown of primary interviews for the report on the synthetic paper market
• By Company Type – Tier 1 – 11%, Tier 2 –33%, and Tier 3 – 56%
• By Designation – C-Level – 20%, D-Level Executives – 10%, and Others – 70%
• By Region – North America – 36%, Europe – 29%, Asia Pacific – 14%, South America – 7%, and Middle East & Africa – 14%
The leading manufacturers of synthetic paper profiled in this report are Yupo Corporation(Japan), Nan Ya Plastics (Taiwan), Agfa-Gevaert (Belgium), PPG Industries (US), Neenah Inc. (US), Arjobax SAS (France), American Profol (US), Hop Industries (US), Relyco Sales (US), Cosmo Films (India), and Toyobo Co., Ltd (Japan), among others.
The report covers the synthetic paper market by raw material, application, end-use industry, and region. It aims at estimating the size and future growth potential of the market across various segments. The report also includes an in-depth competitive analysis of the key market players along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments, high-growth regions, and drivers, restraints, opportunities, and challenges in the synthetic paper market.
The report provides insights on the following:
• Market Penetration: Comprehensive information on various systems and processes of synthetic paper offered by top players operating in the market
• Product Development/Innovation: Detailed insights into upcoming developments in synthetic paper, R&D activities, and new applications in various end-use industries in the market
• Market Development: Comprehensive information about lucrative and emerging markets across different regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the synthetic paper market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the synthetic paper market
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