Press release
Synthetic Paper Market Trends 2020 By Regional Players PPG Industries, Yupo Corporation, Neenah Paper, Avery Dennison, Taghleef Industries , DuPont, Hop Industries Corporation
Sustainable production along with recyclable nature of synthetic papers will boost product adoption. Moreover, positive outlook towards secure credential such as Identity cards and e-passports will further complement business growth in the coming years. Global synthetic paper market size is expected to hit USD 1,244.5 million by 2027.
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Synthetic papers are eco-friendly opaque plastics that are composed of polypropylene, polyethylene and polybutylene. These papers possess superior performance qualities such as a water, grease and tear, resistance. Owing to sturdy nature of these material, they are utilized in a variety of applications both labeling and non-labeling.
Growing demand for laminated and printed material owing to high absorption property of synthetic paper will spur product penetration.
The act imposes that the materials used for packaging of food must conform to the requirements of the Bureau of Indian Standards. Prominent manufacturers and suppliers of synthetic paper include Agfa-Gevaert Group, Arjobex SAS, American Profol Inc., Cosmo Films Ltd., NAN Ya Plastics Corporation, Hop Industries Corp., Transcendia, Inc., Yupo Corporation, Toyobo Co. Ltd. and PPG Industries Inc., among others.
Non-label application segment held a major chunk of the global synthetic paper industry share in 2018. Such impressive growth can be attributed to mounting demand for synthetic paper for applications like charts, maps, banners, lifeguarding manuals, graphics, children's books graphics, boating books, and other products.
Growth Drivers:
o Increased demand for environmentally friendly products
o Growing label and packaging industry
o Increased adoption of folding cartons and blister packaging
Top key Players -
o American Profol Inc.
o Arjobex, Nan Ya Plastics Corporation
o PPG Industries
o Yupo Corporation
o Neenah Paper
o Avery Dennison
o Taghleef Industries
o DuPont
o Hop Industries Corporation
On account of recyclability and eco-friendly nature of the synthetic paper, the product is experiencing heavy demand. They are largely adopted by companies offering sustainable solutions.
Increasing awareness pertaining to recyclability as a sustainable goal will further stimulate the use of synthetic paper. Moreover, a significant demand by non-label application for printing banners and pamphlets for various promotional activities, may supplement synthetic paper market share.
Asia Pacific is expected to evolve as one of the most significant regional grounds for synthetic paper market share. Governments across the region are undertaking various initiatives to boost sustainable packaging solutions. For instance, the packaging of food materials & other edibles in India are administered by the MOFW (Ministry of Health & Family Welfare) under the Prevention of Food Adulteration Act, 1954.
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