PUBLISHER: The Business Research Company | PRODUCT CODE: 1415718
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415718
“Synthetic Paper Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on synthetic paper market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for synthetic paper? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The synthetic paper market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Synthetic paper, crafted from a synthetic resin derived from petroleum, shares characteristics with standard plastic film. This material boasts high water resistance, flexibility, and tear resistance, making it an excellent choice for printed polymer-based substrates. It finds applications in paper labels that adhere to non-label paper and ink.
The primary raw materials for synthetic paper include biaxially oriented polypropylene (BOPP), high-density polyethylene (HDPE), polyethylene terephthalate (PET), and polyvinyl chloride (PVC). Biaxially oriented polypropylene (BOPP) film is a thin plastic film subjected to both mechanical and manual cross-direction stretching. It is available in various thicknesses, including below 200 microns, 200 to 400 microns, and above 400 microns, catering to a range of applications such as printing, labels and tags, packaging, and more. These materials are utilized across different sectors including industrial, institutional, commercial, and retail.
The synthetic paper market research report is one of a series of new reports from The Business Research Company that provides synthetic paper market statistics, including the synthetic paper industry's global market size, regional shares, competitors with a synthetic paper market share, detailed synthetic paper market segments, market trends and opportunities and any further data you may need to thrive in the synthetic paper industry. This synthetic paper market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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.
The ascending e-commerce industry is set to drive the synthetic paper market's expansion. E-commerce, denoting the online buying and selling of goods and services, has witnessed a surge, predominantly via the Internet. Synthetic paper plays a crucial role in producing e-commerce labels, tags, packaging, and promotional materials. With the increasing preference for online shopping among both businesses and consumers, there is a heightened demand for robust packaging materials like synthetic paper. For instance, in 2021, the International Trade Administration reported a 10.8% surge in global retail consumer goods e-commerce sales, from $4,891 billion to $5,424 billion. Additionally, according to the Census Bureau's May 2023 data, U.S. retail e-commerce sales are estimated to have risen by 7.8% from 252.8 million in 2022 to 272.6 million in 2023. This affirms the significant role of the e-commerce industry in driving the synthetic paper market's growth.
The flourishing cosmetics industry is anticipated to be a key driver for the synthetic paper market. The cosmetics sector encompasses the creation and retail of beauty products, spanning skincare, makeup, and personal grooming. Synthetic paper finds essential application in this industry, serving as a robust material for labels and packaging that offers resistance against moisture, chemicals, and tampering. A notable indicator of this growth is the increase in color cosmetics unit sales, which rose from 112,257 units in 2021 to 118,172 units in 2022, as reported by the Connecticut Tree Protective Association (CTPA). This robust performance in the cosmetics sector is poised to significantly fuel the synthetic paper market.
The upward surge in raw-material prices is poised to impede the growth of the synthetic paper market. Synthetic paper production relies on various raw materials, including polyethylene and polypropylene. This increase directly translates to elevated production costs for manufacturers in the synthetic paper industry. As a result, rising raw material prices put pressure on profit margins for these manufacturers. A notable example is the significant spike in the cost of raw materials like polypropylene (PP) and polyethylene (PE) in the US, which saw an increase ranging from 80 to 120% in 2021, as reported by McKinsey and Company, a US-based consulting company. This trend is presenting a hindrance to the synthetic paper market's growth trajectory.
Major players in the synthetic paper market are dedicated to pioneering advanced products, such as Xerographic Matt (XM) synthetic paper, to fortify their market standing. This particular variant of synthetic paper exhibits remarkable resistance to water and tearing even without the need for lamination. For instance, in November 2021, Agfa-Gevaert N.V., a Belgium-based corporation renowned for its creation, production, and distribution of analog and digital photographic products and systems, introduced SYNAPS Xerographic Matt (XM) synthetic paper. Notably, it incorporates an agent designed to impede the settlement and proliferation of viruses and bacteria on its surface. This synthetic paper is uniquely formulated with chemicals that remain active throughout its entire lifespan, safeguarding toner-covered print areas. Independent ISO 20743 and ISO 18184 testing have demonstrated an impressive product efficiency of up to 99.99%.
In January 2021, Arjobex SAS, a France-based company known for its expertise in the development and distribution of synthetic paper, acquired MDV Group for an undisclosed sum. This strategic move enhances Arjobex's standing as a premier producer and provider of cutting-edge sustainable synthetic papers in Europe. MDV Group is a distinguished manufacturer and coater of specialty papers, including synthetic varieties.
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, VALERON Strength Films Inc., Profol Americas Inc., ARJOBEX SAS, Elastin International Corp, Graytex Papers LLC, Granwell Products Inc., B&F Plastics Inc.
Asia-Pacific was the largest region in the synthetic paper market in 2023. The regions covered in synthetic paper report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the synthetic paper market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The synthetic paper market consists of sales of fiber synthetic paper, PPG TESLIN and film synthetic paper. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.