Synthetic Paper Market Forecasts to 2028 - Global Analysis By Raw Material (Biaxially Oriented Polypropylene, High-Density Polyethylene ), Product, Application and By Geography

According to Stratistics MRC, the Global Synthetic Paper Market is accounted for $629.17 million in 2021 and is expected to reach $1,498.65 million by 2028 growing at a CAGR of 13.2% during the forecast period. Synthetic paper is organized from a synthetic resin derived from petroleum as its main material. Such paper resembles the regular paper produced from wood pulp. However, synthetic paper possess some admirable properties unlike conventional paper such as tear resistance, chemical resistance, water-proof, durable, and others which makes them ideal for various industrial applications.

Market Dynamics:

Driver:

Increasing Usage in the Packaging Industry

Numerous industries such as retail, food and beverages, medical, and pharmaceuticals are increasingly using it owing to its beneficial properties and usage in several applications such as printing, packaging, and labeling. The necessity of products with improved durability and longevity is boosting demand for it, instead of conventional paper. There has been an increased usage of it in the packaging industry, owing to its greater durability, strength, versatility, and functionality, compared to conventional paper. Resistance to chemicals and solvents, even at elevated temperatures offered by the synthetic paper is resulting in its increasing usage in chemical packaging and heavy-industrial applications. Some major performance properties of this type of paper such as waterproof, durability, oil resistance, chemical resistance, tear resistance, as well as superior printability are resulting in the high popularity of synthetic paper as the ideal choice of material in the packaging industry. There is an increasing need for packaging and labeling, owing to the expansion of industrial and retail sectors, which is further leading to high demand for synthetic paper.

Restraint:

High Cost

Fluctuations in prices of raw materials, owing to the rising price of crude oil and volatility in the costs of chemicals are resulting in high prices of synthetic paper. Moreover, special needs associated with synthetic paper on the press would add to additional costs. Though synthetic paper is initially expensive, in the long run, the initial cost of this paper is worth the time and cost required to laminate traditional paper products. The cost of it is more in comparison to conventional paper, which could hamper demand for the product across several end-use industries. Synthetic paper is manufactured by employing synthetic resin which is mainly derived from petroleum.

Opportunity:

Rising Needs for Labelling and Packaging in Packed Food and Beverages

The BOPP-based synthetic paper exhibits excellent resistance to moisture and chemicals as a result of which it is considered to be used as a better material for packaging and labeling applications. These types of synthetic paper are non-toxic and are used as a material of choice in the food and beverages packaging. This type of synthetic paper also possesses characteristic properties like high-quality writ-ability and printability performance that helps the companies in enabling new designs for the development of labels that can be attractive. The waterproof, durability, and longer shelf life properties make this type of synthetic paper the material of choice for beverages packaging. Synthetic paper is also eco-friendly and is a sustainable solution for printing applications in the food and beverages industry that has enhanced the synthetic paper market globally. The high mechanical strength of synthetic paper is expected to boost the synthetic paper market growth in the coming years.

Threat:

Insufficient Amount of Plastics Material

The inadequate amount of plastics material is available for synthetic paper which in turn will further obstruct the growth of the market. The price of synthetic paper is higher than pulp paper might further challenge the growth of the synthetic paper market in the near future.

Packaging segment is expected to be the largest during the forecast period

Packaging segment is expected to expand significantly over the forecast period, owing to extensive usage of synthetic paper in the packaging of textile, chemicals, food and beverages, and cosmetics and personal care products. It is also extensively utilized for a broad range of packaging applications, including shopping bags and FDA-compliant food packaging. This type of paper is all the time more being used by many multinational food packaging corporations as a substrate for linerless labels for meat trays. It has become a preferred choice among the food and beverage industry, owing to its superior durability and improved repeated usability of labels, thereby increasing shelf life of the product.

The Biaxially Oriented Polypropylene (BOPP) segment is expected to have the highest CAGR during the forecast period

A superior performance and printability property of BOPP films is resulting in its increasing usage across various end-use industries. Applications requiring water resistance, ease of printing, high tensile strength, fatigue resistance, and heat stabilities are increasingly utilizing BOPP films. This material is extremely used in applications that require heat stabilities, water resistance, high tensile strength, and easiness of printing.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, due to the rising need for efficient packaging materials in the food & beverage, chemical, pharmaceutical sectors, especially in emerging economies such as China and India. China's emergence as a global manufacturing hub has increased the demand for synthetic paper. Increasing demand from end-use industries for paper, paper bags, and other paper products, higher awareness about ecology, and recent technological developments are major factors expected to drive market growth in this province during the forecast period. Additionally, rapid urbanization in developing countries of the region resulted in increasing demand for labeling, printing, and packaging, as well as bolstered the need for consumer goods. Innovation in the paper and packaging industry, rapid industrialization, and awareness regarding the advantages of synthetic paper are expected to increase consumption in this province.

Region with highest CAGR:

North America is projected to have the highest CAGR, Synthetic paper is widely utilized in a wide range of industries in this province such as FDA-compliant food packaging applications. Growing usage of labels in beverage packaging is expected to drive market growth in this region during the forecast period. Additionally, increasing usage of RFID labels in the packaging of food and beverage and pharmaceutical products is supporting the growing demand for synthetic paper as it is becoming an ideal solution for RFID labels.

Key players in the market:

Some of the key players profiled in the Synthetic Paper Market include Arjobex SAS, American Profol Inc., Agfa-Gevaert Group, Cosmo Films Limited, NAN Ya Plastics Corporation, Transcendia, Inc., PPG Industries Inc., Toyobo Co. Ltd., Yupo Corporation, Hop Industries Corporation, Seiko Epson Corporation, Relyco Sales, Inc., Transilwrap Company, Inc, MDV-Papier-und Kunststoffveredelung GmbH, and Neenah Inc.

Key developments:

In June 2019: Yupo Corporation announced about new synthetic paper, it is manufactured from biodegradable plastic resin, which is used for label applications. This YUPO green synthetic paper is made from sugarcane bagasse which is the substitute for conventional crude oil-based paper.

In January 2019: Agfa-Gevaert group and Fujitex Co Ltd. signed an agreement for distribution of synthetic paper under the trade name of SYNAPS. The agreement includes the distribution of SYNAPS XM products as Fujittex has a stronghold on the printer market.

In January 2022; Arjobex Synthetic Papers acquired MDV Group, MDV Group is a Germany-based niche manufacturer and coater of speciality papers, further expanding its footprint and becoming one of the leading European speciality coatings providers for paper and films in Europe.

Products Covered:

• Uncoated Synthetic Paper
• Coated Synthetic Paper

Manufacturing Processes Covered:

• Tubular Film
• Coextruded Film
• Spun-Bonded Papers
• Synthetic Pulp
• Extruded Flat Film

Applications Covered:

• Labels
• Non-Label
• Paper Bags
• Printing

Sales Channels Covered:

• Distribution Channel
• Direct Channel

End Users Covered:

• Packaging
• Paper
• Transportation
• Retail
• Manufacturing
• Food and Beverages
• Pharmaceuticals
• Cosmetics and Personal Care
• Horticulture

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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