Synthetic Paper Market Analysis | 2023-2028

"The synthetic paper market is estimated to grow from USD 827.2 million in 2022 to USD 1405.14 million by 2028 at a CAGR of 9.11% during the forecast period."

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Market Dynamics

Introduction

Synthetic paper is a form of paper-like material created from synthetic or non-fibrous materials. It has features and characteristics that are comparable to those of traditional paper. Due to its strength, resistance to tearing, water resistance, and other favorable qualities, it is used as a replacement for regular paper.

High-density polyethylene (HDPE) or polypropylene (PP) are two common polymer-based substrates found in synthetic paper. These substances have been selected for their dimensional stability, durability, and resistance to harmful environmental elements like moisture, chemicals, and UV rays.

Synthetic paper is made by extruding or coating a polymer onto a substrate, then subjecting it to various treatments to improve its qualities. The finished product has a flat surface that may be printed on using many printing techniques, such as offset, digital, or flexographic printing. Like regular paper, cutting, folding, and binding is also simple.

Market Drivers

The synthetic paper market is driven by several factors that contribute to its growth and adoption. Some of the key drivers include:

• Compared to conventional paper, synthetic paper has greater strength and adaptability. As a result of its resistance to UV radiation, chemicals, moisture, tearing, and abrasion, it can be used in applications where durability is crucial. In sectors like packaging, labeling, and outdoor signage, this element fuels demand for it.
• As it is made from materials other than trees, synthetic paper is regarded as being more environmentally friendly than traditional paper. Its manufacture reduces deforestation and aids in environmental protection. As well as having a longer lifespan and the ability to be recycled, synthetic paper may be used without needing to be replaced.
• The printability and compatibility of synthetic paper with many printing processes, including offset, digital, and flexographic printing, are outstanding. It is a popular option for applications like advertising materials, brochures, and catalogs since it enables the use of vivid colors, sharp photographs, and high-quality graphics.
• Synthetic paper is more expensive initially than conventional paper, but it is more cost-effective in the long run due to its durability and longevity. Because of its durability against wear and tear, businesses may be able to save money by replacing it less frequently.
• The demand for synthetic paper is rising among several industries, such as food and drink, cosmetics, medicines, and logistics. These are a few industries that use it for packaging and labeling.

Segment Analysis

By End-Use Industry Type

"Paper industry segment dominates the market during the forecast period"

The market is segmented into packaging and paper. The paper industry segment dominates the market, as synthetic paper outperforms the properties of pulp paper, such as 100% recyclability, moisture resistance, tear resistance, UV resistance, and durability.

By Raw Material Type

"BOPP product segment held more than 55% of the share in 2022"

The market is segmented as BOPP (biaxially-oriented polypropylene), HDPE (high-density polyethylene), and others. BOPP product segment held more than 55% of the share in 2022. The wide use of BOPP papers in packaging and labeling, business cards, calendars, book covers, newspapers, maps, and garments is propelling the growth of this segment during the forecast period.

By Application Type

"Non-labeling application segment held more than 55% of the share in 2022"

The market is segmented as label and non-label. The non-labeling application segment held more than 55% of the share in 2022. The increasing application of synthetic paper in the label industry, due to its remarkable properties, such as exceptional printability, predictable convertibility, and a smooth surface for improved production is expected to drive the market during the forecast period.

Regional Analysis

"Asia Pacific held more than 35% of the market share in 2022 during the forecast period"

Asia Pacific held more than 35% of the market share in 2022 for synthetic papers during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as paper, packaging, food & beverages, cosmetics, pharmaceuticals, chemicals, and manufacturing, which is generating huge demand for synthetic papers and the presence of a large number of synthetic paper manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market

The market is segmented into the following categories. 

By Raw Material Type:

• BOPP 
• HDPE 
• Others

 By Application Type:

• Label 
• Non-Label 

By End-Use Industry Type:

• Packaging 
• Paper 

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Key Players

The following are the key players in the Synthetic Paper Market (arranged alphabetically)

• American Profol
• Agfa-Gevaert Group
• Arjobex SAS
• Nan Ya Plastics Corporation
• PPG Industries
• Toyobo Co., Ltd.
• Yupo Corporation

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the raw material types by end-use industry type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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