Synthetic Paper Market Outlook Report 2024-2033 | Trends, Analysis, Insights, Overview

The synthetic paper market size has grown strongly in recent years. It will grow from $1.09 billion in 2023 to $1.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to expansion of the packaging industry, increasing cost-effective solutions, growing concerns about deforestation, advances in synthetic paper.

The synthetic paper market size is expected to see strong growth in the next few years. It will grow to $1.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to growth in e-commerce, demand for food and beverage packaging, medical and healthcare expansion, increasing demand for textile. Major trends in the forecast period include sustainability and eco-friendly solutions, digital printing advancements, in-mold labeling (iml), high-temperature applications.

Market Overview -
Synthetic paper refers to a paper made from a synthetic resin derived from petroleum and has properties like regular plastic film. They are highly water-resistant, flexible, and tear-resistant printed polymer-based substrates. It is applied to paper labels that bond to non-label paper and ink.

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Rising E-Commerce Industry Propels Growth In The Synthetic Paper Market
The growing e-commerce industry is expected to propel the growth of the synthetic paper market going forward. E-commerce refers to the purchasing and selling of products and services through an electronic network, most notably the Internet. Synthetic paper is used for manufacturing e-commerce labels, tags, packaging, and other promotional items. With more businesses and people preferring online shopping, the demand for durable packing materials such as synthetic paper will rise. For instance, in 2021, according to the International Trade Administration, a US-based Department of Commerce, global retail consumer goods e-commerce sales increased by 10.8% from $4,891 billion to $5,424 billion. Further, in May 2023, according to the Census Bureau, a US-based agency for the Federal Statistical System, the estimated U.S. retail e-commerce sales increased by 7.8% from 252.8 million in 2022 to 272.6 in 2023. Therefore, the Growing e-commerce industry will drive the synthetic paper market.

Competitive Landscape -
Major players in the synthetic paper market are PPG Industries Inc., DuPont de Nemours Inc., Nan Ya Plastics Corporation, Seiko Epson Corporation, Formosa Plastics Corp, TOYOBO CO. Ltd., Neenah Inc., Jindal Poly Films Limited, Agfa-Gevaert N.V., PaperWorks Inc., Cosmo Films Ltd., Sihl AG, Transcendia Inc., Transilwrap Company Inc., YUPO Corp, MDV Papier- und Kunststoffveredelung GmbH, Nekoosa Coated Products LLC, HOP Industries Corporation, VALÉRON Strength Films Inc., Profol Americas Inc., ARJOBEX SAS, Elastin International Corp, Graytex Papers LLC, Granwell Products Inc., B&F Plastics Inc.

Innovation In The Synthetic Paper Market
Major companies operating in the synthetic paper market are focused on innovating advanced products, such as Xerographic Matt (XM) synthetic paper to strengthen their position in the market. It is a type of synthetic paper that is resistant to water and tearing without lamination. For instance, in November 2021, Agfa-Gevaert N.V., a Belgium-based corporation that creates, manufactures and sells analog and digital photographic goods and systems, launched SYNAPS Xerographic Matt (XM) synthetic paper, which contains an agent that prevents the settlement and growth of viruses and bacteria on its surface. It is uniquely designed with chemicals that remain active for the whole life of synthetic paper and preserves toner-covered print regions. Independent ISO 20743 and ISO 18184 testing has demonstrated a product efficiency of up to 99.99%.

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Key Segments -
The synthetic paper market covered in this report is segmented -
1) By Raw Material: Biaxially-Oriented Polypropylene (BOPP); High-Density Polyethylene (HDPE); Polyethylene Terephthalate (PET); Polyvinyl Chloride (PVC)
2) By Thickness: Below 200 microns; 200 to 400 microns; Above 400 microns
3) By Application: Printing; Labels And Tag; Packaging; Other Applications
4) By End-User: Industrial; Institutional; Commercial And Retail

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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