The global Synthetic
Paper Market size is estimated at USD 766 million in 2021 and is projected
to reach USD 1,286 million by 2027, at a CAGR of 9.2%, between 2022 and 2027.
The growth of the global synthetic paper market is directly related to the
strict government regulation against deforestation which results in high demand
for conventional resources. For over more four decades, the global demand for
paper has increased by 400%, with harvested trees accounting for 35% of all
paper produced. The environmentally friendly manufacturing and recyclable
nature of synthetic paper will help it gain market share in the forecasted
period.
Browse 279
market data Tables and 43 Figures spread through 203 Pages and
in-depth TOC on "Synthetic
Paper Market by Raw Material (BOPP, HDPE, PET, and PVC), Application (Printing,
Labels & Tags, Packaging), End-use Industry (Industrial, Institutional, and
Commercial/Retail) and Geography - Global Forecast to 2027"
PPG Industries, Inc. (US), Seiko Epson Corporation
(Japan), Agfa-Gevaert Group (Belgium), Yupo Corporation (Japan), and Arjobex
SAS (France) are key players in synthetic paper market.
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PPG Industries, Inc. manufactures and distributes a range of chemical products,
including paints, coatings, and specialty materials for various end-use
industries. The company operates through two business segments: performance
coatings and industrial coatings. The performance coatings and industrial
coatings business segments cater to several end-use applications such as
industrial equipment and components, packaging material, aircraft, and marine
equipment; automotive original equipment, and automotive refinish. PPG
Industries, Inc. offers various types of synthetic papers through the Teslin
substrate products brand under the industrial coatings segment.
Seiko Epson Corporation operates through three business segments: printing solutions,
visual communications, and wearable & industrial products. The company
manufactures synthetic paper under the printing solutions business segment.
Seiko Epson Corporation comprises 85 group companies, among which 18 companies
are in Japan while 67 companies are located outside Japan.
BOPP is the largest raw material segment of the
synthetic paper market
Based on raw materials, the synthetic paper market
includes BOPP, HDPE, PET, and PVC. The BOPP raw material segment led the
application segment of the market in terms of both value and volume. BOPP is
extensively used in applications that require heat stabilities, water and
fatigue resistance, high tensile strength, and ease of printing. Due to the
ability to be manufactured into a thin transparent substrate, BOPP can be used
for labels and printing applications. BOPP can be environmentally friendly and
low in toxicity, making this synthetic paper used to pack food items and
beverages.
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Printing is the largest applications segment of the
synthetic paper market
Based on applications, the synthetic paper market
is divides into printing, labels & tags, packaging, and others. Printing is
the largest application of synthetic paper. It has micropores on the surface,
enabling better affinity for ink holding and providing a high-quality finish.
Its properties such as durability, tear resistance, water resistance, scratch
resistance, and abrasion resistance make it an important substrate against
conventional papers. The synthetic paper has a lower static surface, which
prevents double feeding and eases the printing process, making synthetic papers
suitable with various printers for several printing applications. These
printing applications include menus, personalized marketing materials, point of
purchase displays, wrist bands, cards/envelopes, tickets/passes, and labels for
various end-use industries.
Asia Pacific is the largest market for synthetic
paper market
The Asia Pacific region is projected to be the
largest market, in terms of value. Asia Pacific is expected to grow at a CAGR
of 9.4% during the forecast period. The growth of Asia-Pacific region can be
attributed to the high economic growth rate and various eating habits,
packaging & printing preferences of people across different countries of
the region. Also, the multiplying population of the region presents a huge
customer base for fast-moving consumer goods (FMCG) products and packaged food
& beverages, which is expected to lead to the growth of the synthetic paper
market during the forecast period. Asia Pacific is the largest and the most
promising synthetic paper market and is expected to continue during the
forecast period. Rising population, growth in disposable income, rapid
industrialization, and increased urbanization are driving the synthetic paper
market in Asia Pacific. The market in the region is mainly driven by various
end-use industries, such as foods & beverages, cosmetics, pharmaceuticals,
chemicals, and manufacturings.
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