Global Synthetic Paper Market Analysis & Trends - Industry Forecast to 2030
Synthetic Paper: Market Size
From $1,126.44 million in 2024, the global Synthetic Paper market is projected to reach $2370.21 million by 2030. Based on our analysis the market is expected to grow at a CAGR of 13.2% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include developments in the printing and packaging technologies, the rising popularity of blister packaging and folding cartons and increasing concerns against deforestation.
Global Synthetic Paper Market: Market Dynamics
Synthetic papers have become more popular as they have characteristics of both paper and films. As synthetic paper has superior physical and chemical properties, they provide many and diverse benefits over ordinary paper. These papers are also radiant white and have printable surfaces. They are also tough hence support high-quality printing. The factors driving the growth of the synthetic paper market are its eco-friendly properties, the extensive application areas of synthetic paper, and rising utilization in the pharmaceutical and food & beverages industries.
On the other hand, the limited plastics material available for synthetic paper and volatility in the raw material prices are likely to obstruct the profit boundaries. In addition, increasing concerns of pulp paper for environmental pollution will further boost for the Synthetic Paper market.
Impact of COVID-19 on Synthetic Paper
The pandemic has negatively affected industries around the world, particularly the packaging industry. Packaging companies were thinking with innovative technologies that were friendly to the environment, reusable, and biodegradable. Yet concerns about hygiene and safety has temporarily halted the packaging industry’s advancement towards a sustainable and supply chain, as e-commerce services were also suspended for few months. Hence owing to security concerns the synthetic paper demand has declined. Due to this major lockdown, the consumer market has begun to show zero interest towards purchasing any kind of paper products as almost all schools and colleges were closed for a very long period of time.
By End User
Food and Beverages Segment Dominate the Market in 2024
The food and beverages segment made huge revenue in 2024 and growing its prominence during the forecast period as synthetic paper can be perfectly used in food & beverages and can be used for printing, packaging, and labeling requirements as they are non-tearable. It's oil-resistant nature helps in potential food & beverage leaks.
By Geography
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific is likely to have a huge demand in the forecast period owing to rising urbanization, increasing population, growth in cost per package, sustainability, and the improving consumer lifestyle in emerging economies of China and India. China’s emergence as a global manufacturing hub has increased the demand for synthetic paper.
List of the Key Players Profiled in the Market Include: • Elastin International Corporation
• Yupo Corporation
• Valeron Strength Films
• Toyobo Co. Ltd.
• Aluminium Feron GmbH & Co. KG
• Shijiazhuang Dadao Packaging Materials Co.,Ltd
• HWASEUNG Industries Co.,Ltd
• Ruian Rifo Packaging Material Co., Ltd.
• PPG Industries, Inc.
• Neenah Inc.
• Kaveri Metallising & Coating Industries Pvt. Ltd.
• Innovia Films
• Relyco Sales, Inc.
• HOP Industries Corporation
• Cosmo Films
• American Profol, Inc.
• Seiko Epson Corporation
• Agfa-Gevaert
• Tamerica Products Inc.
• Nan Ya Plastics Corporation
List of the Regions/Countries Profiled in the Market Include: North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others