Press release
Synthetic Paper Market to USD 1.67 Billion by 2030 Owing to Eco-Friendly Advancements, Sustainable Innovation
Synthetic-Paper-Market
The Synthetic Paper Market, valued at USD 0.847 Billion in 2022, is poised to reach USD 1.67 Billion by 2030, showcasing a robust CAGR of 8.9% during the forecast period. The synthetic paper market is experiencing a notable upsurge, driven by the increasing demand for durable, water-resistant, and environmentally friendly alternatives to traditional paper products. Synthetic paper, also known as plastic paper or polymer paper, is made from synthetic materials such as polypropylene or polyester, offering properties such as tear resistance, chemical resistance, and weatherability. These characteristics make synthetic paper suitable for a wide range of applications, including labels and tags, maps, menus, outdoor signage, and packaging. With its ability to withstand harsh environmental conditions and repetitive handling, synthetic paper is increasingly replacing traditional paper products in industries where durability and longevity are paramount.
As industries continue to prioritize sustainability and efficiency in their operations, the synthetic paper market is poised for continued growth and expansion. Manufacturers are investing in research and development to develop new formulations, expand product portfolios, and explore new application areas for synthetic paper. Additionally, strategic partnerships and collaborations are driving market growth, enabling stakeholders to leverage complementary expertise and resources to address emerging challenges and opportunities in the global synthetic paper market.
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KEY PLAYERS
Hop Industries Corporation
Transcendia, Inc.
Agfa-Gevaert Group
NAN Ya Plastics Corporation
Arjobex SAS
Yupo Corporation
Cosmo Films Limited
American Profol Inc.
PPG Industries Inc.
Toyobo Co. Ltd.
Market report scope:
Synthetic paper, an eco-friendly alternative to traditional paper, is manufactured without emitting toxic gases like carbon dioxide, making it environmentally sustainable. Derived from petroleum-based synthetic resin, it shares the appearance of wood pulp-produced paper but exhibits enhanced durability akin to plastic. Synthetic paper's resistance to yellowing and extended shelf life make it ideal for chemical-resistant drum labels, outdoor tags for nursery and lumber products, and various horticultural applications. Its increasing demand in printing and finishing applications, requiring high-temperature resistance, strength, chemical resistance, and moisture resistance, contributes significantly to market growth.
Market Analysis:
The Synthetic Paper Market is experiencing robust growth driven by its eco-friendly attributes and diverse applications. Being inorganic and avoiding tree usage, synthetic papers, primarily derived from petroleum-based resins, offer exceptional tear, chemical, moisture, and oil resistance, making them preferable in packaging, food & beverages, consumer goods, transportation, and pharma industries. The U.S. market is buoyed by increasing awareness of environmentally friendly products. Furthermore, the global inclination towards sustainable materials, recycling capabilities, and superior properties like heat seal ability and printability contribute to the market's upward trajectory. The Asia Pacific region emerges as a key growth driver, with a significant revenue share, propelled by rising demand, technological advancements, and the presence of major manufacturing enterprises, especially in China and India. These factors collectively position synthetic paper as a pivotal player in the dynamic landscape of sustainable and versatile materials.
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Segment Analysis:
By Raw Material
BOPP
HDPE
Others
By Application
Printing
Paper Bags
Labels
By End-use
Paper
Packaging
Others (pharmaceuticals, cosmetics, food & beverages, and horticulture)
By Raw Material:
The BOPP segment dominates both in value and volume due to its heat stability, water resistance, high tensile strength, and printability. Its ability to be a thin, transparent substrate makes it suitable for labels, printing applications, and eco-friendly packaging.
By Application:
Printing emerges as the largest application, with micropores on the surface facilitating better ink affinity. Its durability, tear resistance, water resistance, scratch resistance, and abrasion resistance make it ideal for various printing applications across industries.
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Key Regional Development:
The Asia Pacific region is set to witness substantial growth, accounting for the largest revenue share in the global market. Increased demand for paper products, coupled with environmental awareness and technological advancements, propels market expansion. The presence of major manufacturing enterprises, particularly in China and India, further fuels demand.
Key Takeaways:
Synthetic paper's eco-friendly characteristics and diverse applications fuel its market growth.
Printing applications, particularly in the U.S., significantly contribute to the market's expansion.
The Asia Pacific region emerges as a key player, driven by increased demand and manufacturing activities.
Recent Developments:
In June 2023, Huhtamaki unveiled a new line of synthetic paper cups made from plant-based materials, emphasizing compostability.
Sealed Air Corporation, in July 2023, announced the acquisition of RPC Group's Foodservice Packaging business, strengthening its position in the synthetic paper foodservice packaging market.
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Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
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SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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