Global synthetic paper market size is estimated to reach a value of around USD 1.4 billion by the end of the year 2026. The industry is expected to grow with a CAGR of 7.1% during the upcoming years.
Synthetic papers are 100% recyclable and are essentially comprised of polypropylene, polybutylene, and polyethylene. They have particular properties, for instance, being chemical, oil, tear, and resistance to moisture, and henceforth can be utilized in various applications including in graphs, charts, banners, graphic arts, wrap around labels, shrink-labels, restaurant menus, instruction manuals, etc.
Rising concern toward the use of ecological items, supporting legislative regulations and guidelines have led to the higher demand for synthetic paper rather than wood paper. Growth in urbanization has driven an expansion in the printing, naming, and bundling businesses demand coupled with the necessity for consumer goods. The above-mentioned factors are some of the key drivers of the synthetic paper advertise. The rise in the interest in the building and construction industry in developing economies is projected to fuel the global market growth over the forecast period.
Rising demand for energy-efficient and eco-friendly products is expected to drive the product demand during the forecast period. Additionally, growing demand due to recyclable and eco-friendly products along with customized product services as per applications requirement leads to the market growth over the forecast period.
On the other hand, continuous developments in the printing and packaging technologies, increasing concerns against deforestation, and high economic growth in Asia-Pacific market are some factors expected to create some potential opportunities in the near future. However, high cost than pulp paper and dependency on crude oil prices are factors projected to hamper the market growth over the forecast period.
Synthetic paper is broadly used in various applications for the map including the travel industry guides, military, mount climbing, and fishing. These maps can be effectively folded for documenting and storage. The properties of the items including resistance to spill and tear, lightweight, flexibility are anticipated to impact the growth of the synthetic paper over the upcoming years.
The High-Density Polyethylene (HDPE) segment among product type segments, is expected to witness the highest CAGR on account of the product attributes such as economical, high impact strength, moisture resistance, chemical resistance, and easy processing ability enabling its use in numerous applications.
Manufacturers are engaged in utilizing polyester-based films for developing products including luggage tags, nameplates, restaurant menus, ID cards, pricing placards, door hangers, etc. In addition, the polypropylene-based synthetic paper segment is expected to grow at a significant rate of growth attributable to its preferences including chemical resistance, recyclability, low cost, flexibility, etc. Various key players present in the synthetic paper industry are focusing on entering into long-term supply relationships with selected business partners, in order to obtain a competitive edge.
Market Segmentation, By Product
Market Segmentation, By Application
Market Segmentation, By Region
The Asia-Pacific market is contributing major revenue share in the global market, due to the high consumption of synthetic paper and expected to continue its dominance over the forecast period. In addition, increasing demand for the target product from the region is owing to growing end-user industries such as chemicals, cosmetics, and food & beverage to the improved lifestyle coupled with increasing disposable income of the population in the developing economies. Furthermore, Japan is the key contributor in this region, which contributes to more than 32% of the total demand for synthetic paper in the region. The increase in the consumption of synthetic paper in packaging, food & beverages, pharmaceuticals, cosmetics, and printing industries has been observed in the Asia-Pacific region owing to continuous industrialization along with growth in the manufacturing sector in the region. The constant growth and innovations along with industrial partnerships are projected to ascertain a bright future for this market in the coming years. The product demand from Europe is expected to witness a second highest CAGR on account of the increasing consumption of packaged foods attributed to the rising working population.
Major companies contributing the global synthetic paper market are Agfa-Gevaert N.V., American Profol Inc., Arjobex SAS, HOP Industries Corporation, MDV Papier GmbH, Nan Ya Plastics Corporation, PPG Industries, Inc., Relyco Sales, Inc., Seiko Epson Corporation, Transilwrap Company, Inc., and Yupo Corporation..