Synthetic Paper Market Trends, Value, Insights, Demand, Analysis 2024-2031

Market Size

Global synthetic paper market reached US$ 766.0 million in 2022 and is expected to reach US$ 1,389.44 million by 2030, growing with a CAGR of 9.1% during the forecast period 2024-2031.

The worldwide synthetic paper industry has seen a considerable transformation in recent years, driven by rising demand for ecologically benign and long-lasting alternatives to conventional paper. As a sustainable option, synthetic paper has found use in a variety of sectors, including printing, packaging, labeling, and others.

The high-density polyethene drive dominates the product sector in the worldwide synthetic paper industry, accounting for about half of the total market share. Similarly, Asia-Pacific leads the synthetic paper industry, with a market share of more than one-third. According to Japan's Ministry of Environment, synthetic paper use in Asia-Pacific increased by 15% in 2021 compared to the previous year.

Market Drivers

The Versality of Synthetic Paper and Its Extensive Application Across Various Industries

Synthetic paper's adaptability has led to widespread use in sectors such as packaging, labeling, printing, and advertising. Synthetic paper's resilience to moisture, chemicals, and ripping has made it a popular option for food and beverage, pharmaceutical, and consumer products packaging. Furthermore, the labeling and printing sectors have seen a significant move toward synthetic paper owing to its ability to survive harsh circumstances while producing bright print quality.

The expansion of the e-commerce industry has increased demand for long-lasting and appealing packaging materials, accelerating the use of synthetic paper. According to World Trade Organization (WTO) figures, after 2020, the worldwide trade of synthetic paper in end-use sectors would rise by 12% year on year.

Segmentation Analysis

The global Synthetic Paper is segmented by product, Manufacturing Process, and application.

By Product

• High-density polyethene
• Biaxially Oriented Polypropylene
• Others

By Manufacturing Process

• Fiber Synthetic Paper
• Film Synthetic Paper
• Film-Laminate Synthetic Paper

By Application

• Labels
• Non-Labels

Product Insights

Synthetic paper, a novel substance that provides durability, water resistance, and printability, has seen a major increase in demand worldwide. One of the primary drivers of this expansion is high-density polyethene (HDPE), a versatile polymer that has proved to be a game changer in the synthetic paper sector.
In response to growing environmental concerns, the synthetic paper industry has undergone a paradigm shift toward sustainable and eco-friendly alternatives. HDPE has emerged as a contender in this area due to its recyclability and low environmental effect. Governments across the globe have been encouraging the use of recyclable materials, which has accelerated the acceptance of HDPE-based synthetic paper products.

Geographical Share

Geographically, the global Synthetic Paper market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
The Asia-Pacific region has risen to prominence in the global synthetic paper industry in recent years. Synthetic paper, a sustainable and environmentally friendly alternative to conventional paper, is in high demand across a wide range of sectors due to its adaptability and durability. The Asia-Pacific area has seen an unparalleled increase in the use of synthetic paper across a variety of sectors, including packaging, printing, labeling, and advertising.

Governments in the area have progressively adopted eco-friendly regulations, encouraging the use of sustainable materials such as synthetic paper in a variety of uses. According to Asian Development Bank estimates, by 2022, the packaging market alone will account for more than 45% of total synthetic paper consumption in the area.

Market Leaders of the Synthetic Paper Market

The major global players in the market include Arjobex SAS, Yupo Corporation, PPG Industries, Taghleef Industries Group, Transcendia, American Profol Inc, Afga-Gevaert Group, Seiko Epson Corporation, Nan Ya Plastics Corporation and Relyco Sales, Inc.

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This release was published on openPR.