Synthetic Paper Market: Current Analysis and Forecast (2021-2027)

The global synthetic paper market stood at around US$800 million and is likely to showcase a growth of around 7% during the forecast period. Paper is one of the most widely consumed commodity products, whether it is used as a stationary or used in industries for labeling or printing application, it plays an important role. However, the paper product is not environmentally friendly as it requires pulp which is obtained mainly from woods, thereby promoting deforestation. As the world is moving towards a sustainable future, therefore it is important to substitute the conventional paper with the paper which does not promote deforestation activity and at the same time provides the same or better quality than the conventional one. Synthetic paper is one of the niches in the paper industry which is gaining industry traction due to its superior quality and environment-friendly nature as these are produced using synthetic resins which are obtained from petroleum products. These synthetic papers have wide potential to grow due to the wide application areas of paper resulting in a large market size. For instance, in 2020, the world has the capacity to produce around 590 million tons of pulp, paper, and tissue.

Insights Presented in the Report

"Amongst raw materials, BOPP-based synthetic paper held a prominent share in the market in 2020"

Based on raw materials, the market is categorized into BOPP, HDPE, and others. Among these, BOPP held a prominent share in terms of value due to its water and oil resistance properties. Owing to this it is widely consumed in the industries which demand a robust product to handle the working condition. Further, BOPP-based synthetic papers are easy to recycle thus facilitates a circular economy. Therefore, as companies are trying to build a circular economy model to promote sustainability and at the same time decrease operational cost, thus with using BOPP as a raw material to produce synthetic paper can help in achieving their targets. 

"Amongst applications, labels & tags is likely to showcase substantial growth during the forecast period"

Based on application, the market is categorized into printing, labels & tags, packaging, and others. Among these, labels & tags are likely to showcase substantial growth over the forecast period due to their increasing use in pharmaceutical, agricultural, and chemical applications. These industries required papers that are chemical resistant and handle various types of sterilization methods. As the synthetic paper has the properties to deal with such situations, thereby with the rise in these industries, the demand for synthetic paper would increase. Moreover, over the years, the e-retail industry has showcased robust growth and is likely to continue its performance majorly in developing economies, thereby increasing the demand for synthetic paper for packaging and labeling.

"Asia-Pacific accounted for a considerable share in the global synthetic paper market"

For a better understanding of the market adoption of synthetic paper, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a prominent share in the synthetic paper market on account of the presence of vast industrial sectors in countries like China, Japan, India, and South Korea. Further, robust growth in the regional e-retail industries is boosting the demand for synthetic paper.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts

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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry

• The study comprehensively covers the market across different segments

• Deep dive country-level analysis of the industry

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