Global Synthetic Paper Market Analysis 2022
The Global Synthetic Paper Market is expected to reach $1,408.17 million by 2028 growing at a CAGR of 9.5% from 2021 to 2028. Synthetic paper is produced from synthetic resins that are extracted from petroleum. Exceptional properties offered by the material such as resistance against tear, moisture and oil, chemical, along with better printability, high strength, and heat sealability is providing it an edge over conventional paper. Synthetic paper is a good printing medium for banners, indoor advertisements, posters, and other photo printing. The special layer of coating on synthetic paper makes the image more colourful and attractive. In addition to good printability, synthetic paper also exhibits resistance against grease, folding, heat, and chemicals.
Factors such as decline in crude oil prices, stringent regulatory norms against deforestation, and sustainable production along with recyclable nature are driving the growth of the market. However, fluctuating raw material prices and insufficient amount of plastics material are restraining the growth of the market.
Based on raw material, the biaxially oriented polypropylene (BOPP) segment is going to have a lucrative growth during the forecast period which can be attributed to the better strength offered by the material which makes them suitable for packaging of perishable items such as confectionery, snacks, fast food, vegetables, and fruits. The superior properties exhibited by biaxially oriented polypropylene have resulted in its extensive use in the packaging of chemicals, textile, cosmetics, and food and beverages. The growth of the above-mentioned application industries in the emerging economies such as India and China are expected to result in high demand for biaxially oriented polypropylene film in the emerging regions.
The key vendors mentioned are Cosmo Films Limited, Arjobex SAS, American Profol Inc, Seiko Epson Corporation, Relyco Sales, Inc, PPG Industries Inc, Neenah Inc, NAN Ya Plastics Corporation, MDV-Papier-und Kunststoffveredelung GmbH, Hop Industries Corporation, Agfa-Gevaert Group, Yupo Corporation, Transilwrap Company, Inc, Transcendia, Inc, and Toyobo Co. Ltd.
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