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Synthetic Paper Market Size Worth USD 1.74 Billion in 2032 | Emergen Research
The global synthetic paper market size was USD 1.04 Billion in 2022 and is expected to register a rapid revenue CAGR of 5.4% during the forecast period. The global synthetic paper market is experiencing significant growth, driven by factors such as the increasing adoption of synthetic fibers in the Food & Beverage (F&B) industry and the rising demand for eco-friendly and recycled packaging. A recent market research report provides comprehensive insights into the market drivers, restraints, and segment trends shaping the industry landscape.Market Drivers:
The surge in demand for eco-friendly and recycled packaging solutions is a key driver propelling the synthetic paper market forward. With growing awareness about sustainable practices and stringent government regulations, the demand for recycled paper is witnessing a notable uptick. Synthetic paper, known for its durability and tear resistance, has become indispensable in various industries, including printing, packaging, publishing, and F&B.
Manufacturers in the synthetic paper market are experiencing increased orders and sales volumes, particularly in meeting the rising demand for recycled paper. For instance, innovations such as antibacterial laminating films are addressing concerns about bacterial contamination on packaged items, further fueling the demand for synthetic paper globally.
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Market Restraints:
However, the market faces challenges due to the high production costs associated with synthetic paper. The complex manufacturing process involves polymerization and stringent quality control measures, necessitating advanced technology, specialized machinery, and skilled labor. These factors contribute to elevated operational expenses, potentially impacting the competitiveness of synthetic paper in the market.
Segment Insights:
• Raw Material: The market is segmented based on raw materials such as BOPP, HDPE, PET, and PVC. BOPP dominates the market, driven by its versatility and resistance to UV light, making it ideal for various packaging applications.
• Thickness: Segmentation based on thickness reveals a growing demand for above 400 microns synthetic paper, particularly in industries requiring high thickness for durability and performance, such as automotive and outdoor activities.
• Application: The printing segment is witnessing significant growth due to the durability and stability offered by synthetic paper, making it suitable for menus, cards, labels, and packaging materials.
• End-Use: In the industrial segment, synthetic paper is increasingly used for product identification tags and labels, leveraging its durability and resistance to extreme weather conditions.
Future Outlook:
Despite challenges, the synthetic paper market is poised for growth, driven by increasing environmental concerns and the need for sustainable packaging solutions. Manufacturers are focusing on R&D to develop tailored products that meet specific application needs, further expanding the market's scope.
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Synthetic Paper Top Companies and Competitive Landscape
The global synthetic paper market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective synthetic paper in the market.
Some of the major companies included in the global synthetic paper market report are:
• PPG Industries
• NAN Ya Plastics Corporation
• Cosmo Films Ltd.
• Valeron
• Transcendia
• Toray Industries Inc.
• Du Pont
• Japan Pulp & Paper Co., Ltd.
• B & F Plastics Inc.
• RELYCO
• Yupo Corporation
• Formosa
• Folex
• BASF SE
• Sihl AG
• Toyobo Co., Ltd.
• Granwell Products Inc.
• Evonik Industries
• Aluminium Feron GmbH
• Seiko Epson Corporation
Synthetic Paper Latest Industry News
• On 17 January 2023, BASF announced to invest in enhancing polymer dispersion capabilities at its production site in Merak, Indonesia. This expansion is part of rising trend for high-quality packaging in ASEAN, where major paper and board manufacturers are concentrated. The expansion will provide additional supply reliability to meet rising demand for acrylic and styrene-butadiene dispersions in the Southeast Asia, Australian, and New Zealand markets.
• On 17 September 2020, Konica Minolta Business Solutions U.S.A. Inc. (Konica Minolta), a leader in industrial and commercial printing and packaging solutions, announced the testing and approval of REVLAR Premium 10.7 mil and 13.7 mil RELYCO synthetic papers for use on the AccurioPress C14000 high-volume production press. As a result, RELYCO's REVLAR synthetic paper has been added to the Konica Minolta Approved Media Guide.
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Synthetic Paper Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global synthetic paper market on the basis of raw material, thickness, application, end-use, and region:
• Raw Material Outlook (Revenue, USD Billion; 2019-2032)
o Biaxially Oriented Polypropylene (BOPP)
o Polyethylene Terephthalate (PET)
o High-Density Polyethylene (HDPE)
o Polyvinyl Chloride (PVC)
• Thickness Outlook (Revenue, USD Billion; 2019-2032)
o Below 200 microns
o 200 to 400 microns
o Above 400 microns
• Application Outlook (Revenue, USD Billion; 2019-2032)
o Printing
o Labels and Tags
o Packaging
o Others
• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Industrial
o Institutional
o Commercial/Retail
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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