The
Synthetic Paper Market
is estimated at 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.
Increasing
applications in labels, printing, and paper bags are leading to the demand for synthetic paper from end-use
industries. Synthetic papers are used owing to properties, such as water
resistance, tear resistance, chemical resistance, and dimensional stability,
among others. Major end-use industries of
synthetic paper include paper, packaging,
and others.
Major companies operating in the synthetic
paper market include Nan Ya Plastics Corporation(Taiwan), PPG Industries (US),
Agfa-Gevaert Group (Belgium), Yupo Corporation (Japan), Arjobex SAS (France), American
Profol (US), HOP Industries Corporation(US), Relyco Sales (US), Transilwrap
Company, Inc. (US), Cosmo Films (India), Neenah Inc. (US), and Toyobo Co., Ltd (Japan),
among others.
Nan
Ya Plastics Corporation (Taiwan), PPG Industries (US), Agfa-Gevaert Group
(Belgium), Yupo Corporation (Japan), Arjobex SAS (France) are the key players
holding a significant share in the synthetic paper market. Among these, Yupo
Corporation (Japan) is one of the leading manufacturing companies in terms of number of developments and has a number of distributors of synthetic paper in
North America, Asia Pacific, the Middle East & Africa, and Europe.
The
company is also focusing on new product launches for products, such as Yupo Green,
a biodegradable synthetic paper to enhance its product portfolio. This YUPO
Green synthetic paper is made from
sugarcane bagasse which is a substitute for conventional crude oil-based paper.
This development was an initiative from Yupo Corporation,
and was undertaken with reference to the goal of sustainable
development of the organization and to produce environment-friendly products.
Agfa-Gevaert
Group (Belgium) is a major company providing synthetic paper in 40 countries
and has its network of agents and representatives where it does not have its
own sales organization. The company develops, produces, and distributes
wide-ranging analog & digital imaging systems and IT solutions, for the
printing industry, healthcare sector, and for specific industrial applications.
It operates 3 business segments, namely,
Agfa Graphics, Agfa HealthCare, and Agfa Specialty Products.
The
Agfa-Gevaert Group offers a diverse product portfolio satisfying the needs of
consumers across various market segments. The company has been expanding its
business in various segments through a balanced strategic approach, such as agreements
and acquisitions. For instance, the company entered
into an agreement with Fujittex to expand its distribution network.
The
Asia Pacific region is estimated to lead the market in 2019 and is also
projected to grow at a high CAGR during the forecast period, owing to the
increasing demand for synthetic paper from China, Japan, and India. High demand
from end-use industries, such as paper, packaging, food & beverages,
cosmetics, pharmaceuticals, chemicals, and manufacturing is driving the growth
of the synthetic paper products market in these countries. Continuous
industrialization and innovation in paper technology, and awareness regarding
the printability of synthetic paper is leading to the increasing consumption of
synthetic paper.
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