Global Synthetic Paper Market 2023

Global Synthetic Paper Market 2023

Description
The global synthetic paper market is poised to experience notable growth in the coming years. According to estimates, the industry is projected to increase in value by approximately $637 million from 2023 to 2029, representing a compound annual growth rate of 6.1%.

Synthetic paper can be described as plastic-derived paper products designed to mimic the texture and appearance of conventional paper while surpassing its functionality in crucial aspects. Typically composed of synthetic resins such as polypropylene or polyethylene, synthetic paper boasts properties that traditional paper lacks.

Notably, synthetic paper demonstrates tear resistance and withstands moisture, chemicals, and greasing - attributes rendering it more durable than cellulose-based paper. It is renowned for preserving integrity in harsh environs and climates owing to its inherent toughness. Furthermore, synthetic paper constitutes a sustainable alternative to tree-derived paper as it can be recycled and finds application in diverse fields.

Synthetic papers are distinctive in their suitability for contexts where susceptibility to water or contaminants compromises conventional paper. Representing just a few of its wide-ranging viable usages, synthetic paper is utilized extensively for outdoor signage confronted by precipitation. Considering their exposure to elements, synthetic papers also find favor for product labeling throughout storage and shipment.

Given propensity for soiling, synthetic price tags prove advantageous for garden centers. Too, synthetic papers serve pallet tags amid lumber yards where debris accumulation deteriorates legibility. Additionally, restaurants and establishments leverage synthetic paper menus and literature prone to spills. Other domains include nautical charts, identification cards necessitating longevity, manuals requiring retention of pristine condition over time, and recreational goods manufacturers.

Market Segmentation

This comprehensive industry report provides market estimates, accompanied by a detailed examination of the material, application, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.
Material: biaxially oriented polypropylene (BOPP), high-density polyethylene (HDPE), polyesters, polystyrene (PS), others
Application: labels/tags (hand tags, medical tags, others), non-labels (packaging, documents, others)
Region: Asia-Pacific, Europe, North America, Middle East and Africa (MEA), South America

The global market for synthetic paper can be segmented by material: polypropylene (PP), high-density polyethylene (HDPE), polyesters, polystyrene (PS), others. In 2022, the BOPP segment made up the largest share of revenue generated by the synthetic paper market. There is a dramatic improvement in the properties of polypropylene film when it is biaxially oriented, which is accomplished by stretching the nearly molten film to mechanically align the polymer molecules.

The global synthetic paper market can be segmented based on raw material type. Biaxially oriented polypropylene (BOPP) comprises the largest segment, generating the highest revenue share as of 2022.

BOPP film undergoes a biaxial orientation process when nearly molten, which mechanically aligns the polymer molecules. This dramatically enhances the film's properties relative to conventional polypropylene. Typical BOPP films measure around 10-40 microns thick, bestowing superior flex crack resistance, stiffness, barrier qualities and optics.

BOPP film has essentially replaced cellophane in many packaging applications such as snack foods overwrapping, attributable to its high performance barrier capabilities. BOPP structures continue advancing, incorporating single and multilayer constructions with acrylic and polyvinylidene chloride coatings, metallization and paper/film composites. Rigid BOPP films find growing use in glass bottle labeling and rigid plastic containers owing to exceptional clarity and strength allowing high-speed dispensing.

Geographically, the Asia Pacific region currently accounts for the largest share of the global synthetic paper market. Economies such as India and China are undergoing rapid socioeconomic development alongside expanding middle-class populations. This has stimulated many end-user industries critical to synthetic paper adoption, namely cosmetics, chemicals and food & beverage production.

The packaging sector is an influential growth driver as well, with Asia Pacific projected as the fastest expanding regional market through 2029. Economic prosperity across developing Asian nations is augmenting consumption of conveniently packaged consumables like foodstuffs. This correspondingly augments synthetic paper needs, as packaging materials are subjected to stringent labeling standards.

Major Companies and Competitive Landscape

The report also provides analysis of the key companies of the industry and their detailed company profiles including Agfa-Gevaert N.V., Aluminium Feron GmbH & Co. KG, American Profol, Inc., Arjobex SAS, Avery Dennison Corporation, Cosmo Films Ltd., DuPont de Nemours, Inc., Fantac (China) Co. Ltd., Granwell Products, Inc., Hop Industries Corporation (HIC), Jindal Poly Films Ltd., MDV Papier- und Kunststoffveredelung GmbH, Nan Ya Plastics Corporation, Neenah Inc., PPG Industries, Inc., Taghleef Industries Inc., Toyobo Co., Ltd., Transcendia, Inc., Transilwrap Company Inc., Valeron Strength Films (An ITW Company), Xerox Corporation (Domtar Corporation), Yupo Corporation, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Scope of the Report

To analyze and forecast the market size of the global synthetic paper market.
To classify and forecast the global synthetic paper market based on material, application, region.
To identify drivers and challenges for the global synthetic paper market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global synthetic paper market.
To identify and analyze the profile of leading players operating in the global synthetic paper market.

Why Choose This Report

Gain a reliable outlook of the global synthetic paper market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
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