Global Synthetic Paper Market: Eco-friendly synthetic paper and its wide application areas driving the synthetic paper market growth.

The global synthetic paper market size is projected to grow from USD 526 million in 2020 to USD 984.56 million by 2027, at a CAGR of 9.4 % between 2020 and 2027. Eco-friendly synthetic paper and wide application areas of synthetic paper are driving the market. Increased concern toward utilization of environmentally friendly products and supporting governmental regulations have led to the shift in the use of synthetic paper instead of wood paper. Synthetic papers are eco-friendly as they are 100% recyclable. They are mainly made up of polypropylene, polybutylene, and polyethylene and have distinct properties such as being chemical, tear, oil, and moisture resistant, and hence can be used in several applications such as in graphs, banners, charts, graphic arts, shrink-labels, and wrap around labels, restaurant menus, and instruction manuals.

Rise in urbanization has led to an increase in the demand for printing, labelling, and packaging industries along with the requirement for consumer goods. These factors are the major key drivers of the synthetic paper market. Synthetic papers superior performance characteristics such as high quality of print on the surface and its non-toxic nature also drive this market. Increase in the investment in construction sector in emerging economies is expected to fuel the global market during the forecast period.

Digital printing is expected to pave the way for new opportunities for the product over the forecast period. However, lack of awareness regarding the use of the product in pressrooms is expected to restrain its market growth. In addition, the low-cost is likely to hinder the development of high-cost synthetic paper over the forecast period.

Synthetic papers offer different functionalities in various industries including cosmetics, food and beverages, and pharmaceuticals for printing and packaging and labelling. The products have high durability, water-proof and chemical, tear, and oil resistant. Furthermore, the outstanding printability of the products has resulted in increased penetration of the product in various end-user industries, thereby driving its demand over the projected period.

PPG Industries, Inc. (US), Seiko Epson Corporation (Japan), Agfa-Gevaert Group (Belgium), Yupo Corporation (Japan), Arjobex SAS (France), American Profol Inc. (US), Hop Industries Corporation (US), Relyco Sales, Inc. (US), Transilwrap Company, Inc. (US), MDV-Papier-und Kunststoffveredelung GmbH (Germany), Cosmo Films Ltd. (India), Neenah Inc. (US), Toyobo Co. Ltd. (Japan), Hwaseung Industries Co., Ltd. (South Korea), Innovia Films (UK), Nan Ya Plastics Corporation (Taiwan), Valeron Strength Films (US), Aluminium Feron GmbH & Co. KG (Germany), Huanyuan Plastics Film Co., Ltd. (China), Tamerica Products Inc. (US), RuianRifo Packaging Material Co., Ltd. (China), KaveriMetallising& Coating Industries Pvt. Ltd. (India), Shijiazhuang Dadao Packaging Materials Co., Ltd. (China), Elastin International Corporation (Taiwan), Masterpiece Graphix (US) are some of the players operating in the global synthetic paper market.

Rising population, growth in disposable income, rapid industrialization, and increased urbanization are driving the APAC synthetic paper market. The synthetic paper market in the region is mainly driven by various end-use industries, such as foods & beverages, cosmetics pharmaceuticals, chemicals, and manufacturing. The continuous industrialization and innovation in the paper technology, awareness regarding the printability has led to increase the consumption of synthetic paper in the above areas. China, Japan, Taiwan, and India are the main countries contributing towards the growth of the APAC synthetic paper market.