Synthetic Paper Market

Market Overview:

The global synthetic paper market size reached US$ 932.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,481.4 Million by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028. The rising product demand in the food and beverage (F&B) industry, increasing consumer awareness regarding product benefits, and introduction of sustainable manufacturing process represent some of the key factors driving the market.

Synthetic paper refers to a white and opaque appearance product used for printing, packaging, and labeling. It is derived from various petroleum-based raw materials, such as biaxially oriented polypropylene (BOPP), high-density polyethylene (HDPE), polyethylene terephthalate (PET), polyamide, polystyrene (PS), and polyvinyl chloride (PVC). Synthetic paper is manufactured using biaxial stretching film, surface coating, and surface treatment methods. It is widely used in printing identification cards, restaurant menus, passports, charts, books, maps, mark sheets, banners, and various tags. Synthetic paper is a highly durable material that offers dimensional stability, ease of printing, and excellent tensile and tear strength. It is also similar in appearance and touch to regular paper and provides resistance to water, oil, grease, and chemicals. As a result, synthetic paper finds extensive applications across the food and beverage (F&B), cosmetics, healthcare, chemical, and packaging industries.

Synthetic Paper Market Trends:

The rising product demand in the F&B industry is one of the primary factors driving the market growth. Synthetic paper is widely used in the packaging, labeling, and wrapping of various food products, such as sandwiches, burgers, hot dogs, snacks, frozen products, and ready-to-eat (RTE) meals, as it is highly durable and resistant to water, oil, and tear. Furthermore, increasing consumer awareness regarding various product benefits, as it is an inorganic material that is easy to recycle, minimizes waste, and reduces the emission of toxic gases, is providing an impetus to the market growth. Apart from this, rising product adoption in the healthcare and pharmaceutical industries for producing medical labels, patient’s wristbands, prescriptions, over-the-counter labels, and tags for nurseries, medical equipment, blood bags, and vials, due to its ability to provide protection against tampering and withstanding cryofreezing and sterilization processes, is propelling the market growth. Additionally, the introduction of eco-friendly synthetic paper that is manufactured using sustainable processes and recycled raw materials, such as HDPE, which, in turn, reduces wastage, and preserve water resources, is positively influencing the market growth. Other factors, including rising product utilization in advertising applications, implementation of stringent regulations by several governments to promote the use of recycled and reusable papers, and increasing environmental concerns regarding the use of pulp paper, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global synthetic paper market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type, application, and end use industry.

Type Insights:

• Biaxially Oriented Polypropylene (BOPP)
• High Density Polyethylene (HDPE)
• Polyethylene Terephthalate (PET)
• Others
   

The report has also provided a detailed breakup and analysis of the synthetic paper market based on the type. This includes biaxially oriented polypropylene (BOPP), high density polyethylene (HDPE), polyethylene terephthalate (PET), and others. According to the report, BOPP represented the largest segment.

Application Insights: 

• Label
  • Hand Tags
  • Medical Tags
  • Others
• Non-Label
  • Packaging
  • Documents
  • Others
     

A detailed breakup and analysis of the synthetic paper market based on the application has been provided in the report. This includes label (hand tags, medical tags, and others) and non-label (packaging, documents, and others). According to the report, non-label accounted for the largest market share.

End Use Industry Insights:

• Industrial
• Institutional
• Commercial/Retail
   

A detailed breakup and analysis of the synthetic paper market based on the end use industry has been provided in the report. This includes industrial, institutional, and commercial/retail. According to the report, industrial accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for synthetic paper. Some of the factors driving the Asia Pacific synthetic paper market include high economic growth rate, rapid industrialization, increasing product demand from various end users, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global synthetic paper market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Agfa-Gevaert N.V., Aluminium Féron GmbH & Co. KG, Arjobex SAS, Cosmo First Limited, HOP Industries Corporation, MDV Papier- und Kunststoffveredelung GmbH, Nan Ya Plastics Corporation, PPG Industries Inc., RELYCO, Seiko Epson Corporation, Toyobo Co. Ltd., Transcendia Inc., Yupo Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the synthetic paper market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global synthetic paper market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the synthetic paper industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.