Synthetic Paper Market Report
RA06842
Synthetic Paper Market by Product (BOPP, HDPE, PET, and Others), Application (Label and Non-Label), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2023-2032
Synthetic Paper Overview
Synthetic paper is a man-made paper that mimics the properties of conventional paper, and also shows increased durability, water resistance, rip resistance, and resistance to chemicals and oils. Instead of using natural wood pulp like traditional paper, it is frequently created from a combination of polymers, resins, and other additives. Synthetic paper is increasing in popularity as a sustainable substitute for conventional paper due to its recyclable nature and environmental friendliness. The necessity for durable materials in numerous industries and the demand for ecologically acceptable solutions have significantly propelled the market for synthetic paper in recent years. The synthetic paper market is projected to experience considerable growth and innovation as technology continues to progress, providing adaptable solutions for a wide variety of applications.
Global Synthetic Paper Market Analysis
The global Synthetic Paper market size was $960.4 million in 2022 and is predicted to grow with a CAGR of 6.4%, by generating a revenue of $1,775.2 million by 2032.
COVID-19 Impact on Global Synthetic Paper Market
The synthetic paper market was significantly impacted by the COVID-19 pandemic. Early on in the pandemic, due to mobility restrictions and social segregation policies, manufacturing operations were stopped or significantly curtailed. The supply chain interruptions hampered the production of synthetic paper goods and caused a lack of raw materials. The market for non-essential goods also declined when businesses and offices were forced to close.
The market for synthetic paper did, however, have some possibilities amid the difficulties. Because synthetic paper offers moisture resistance and durability, making it suitable for such crucial uses, there was a rise in demand for it in applications like labels and packaging for food, pharmaceuticals, and medical supplies during the pandemic. The market's recovery trajectory while the pandemic persisted depended greatly on the general economic recovery and the relaxation of restrictions. The distribution of vaccines, infrastructure expenditures, and government stimulus programs all had a significant impact on how the market recovered. The market for synthetic paper experienced a partial resurgence as industries started to stabilize and vaccination campaigns gained momentum and limitations were gradually relaxed.
Environmentally Friendly Nature of Synthetic Paper to Drive the Market Growth
The market for synthetic paper has grown significantly, propelled by several important causes. First and foremost, the use of synthetic paper has been spurred by the rising demand for environmentally benign and durable materials across numerous industries. Synthetic paper, which is produced from polymer resins as opposed to traditional pulp-based sheets, is tear-resistant, waterproof, and recyclable, making it popular with businesses and people who care about the environment. Furthermore, the market has been significantly influenced by the expanding packaging and labelling sector. Synthetic paper is a great option for packaging applications, particularly in the food and beverage industry, due to its durability and resilience to moisture and chemicals. Further boosting the demand for synthetic paper is the advent of e-commerce, which has raised the requirement for robust shipping labels and tags. Additionally, the development of printing technology has been crucial to the market's growth. Synthetic paper can be used with a variety of printing processes, such as offset, digital, and flexographic printing, enabling the production of colorful, high-quality visuals that are particularly useful for advertising, signage, and promotional materials. Synthetic paper's expansion has also been aided by its adaptability. It has uses in a variety of industries, including retail, medicines, and cosmetics, as well as in outdoor advertising and maps.
High Cost of Synthetic Paper Compared to Traditional Paper to Restrain Market Growth
The synthetic paper industry offers a promising landscape with a variety of applications, including labels, packaging, printing, and others. However, a number of challenges can limit the market's growth. First and foremost, production costs are important since synthetic paper can be more expensive than conventional paper, which could limit its uptake, particularly in price-sensitive markets. Second, while synthetic paper has many advantages, its performance in some printing processes, including offset printing, may fall short of that of traditional paper, limiting its use in some circumstances. Third, while having a good reputation for being environmentally benign, the use of raw materials and energy during the production of synthetic paper could cause worries and limit its acceptability among consumers who care about the environment. Fourth, difficulties with recycling and disposal of synthetic paper products could limit market expansion because appropriate recycling infrastructure would not be widely accessible everywhere. Finally, market education and awareness campaigns are essential since they need to tell potential customers about the benefits and uses of synthetic paper compared to conventional alternatives. Conclusion: The synthetic paper business has enormous potential, but a number of factors, including price, performance constraints, environmental concerns, recycling issues, and awareness gaps, might all have an impact on how quickly it expands.
Advancements in Technology to Drive Excellent Opportunities
Significant technological developments have been taking place in the synthetic paper sector, and by the end of 2023, these developments will probably have continued and advanced even further. In several industries, synthetic paper is becoming more popular as a strong and sustainable substitute for conventional paper created from petroleum-based components. The constant improvement of the manufacturing process for synthetic paper is one of its major technological advances. Extrusion techniques and advancements in polymer chemistry have allowed for the creation of synthetic sheets with greater tensile strength, tear resistance, and printability. Because of these developments, synthetic paper is now appropriate for a larger range of uses, such as labelling, packaging, printing, and other commercial applications. Additionally, attempts have been made to improve synthetic paper's sustainability and environmental friendliness through research and development. The production of synthetic paper has a lower environmental impact thanks to manufacturers' adoption of recycling techniques and exploration of alternative raw materials. This has increased its attractiveness as a more environmentally friendly alternative to conventional paper derived from wood pulp. Additionally, improvements in coating technology have enhanced synthetic paper's resilience to moisture, chemicals, and UV rays, enabling it to be used outdoors and have longer product lifespans. These innovations have accelerated the use of synthetic paper in industries where toughness and weather resistance are crucial considerations.
Global Synthetic Paper Market Share, by Product, 2022
The BOPP sub-segment accounted for the highest market share in 2022. In the technology of the Synthetic Paper Market, the BOPP (Biaxially Oriented Polypropylene) segment is crucial. In contrast to conventional paper, which is created from wood pulp, synthetic paper is made from synthetic resins like polypropylene. Synthetic paper is similar to traditional paper in look and function. Due to its widespread use in the production of synthetic paper, BOPP has a considerable impact on the market's expansion and the development of technology. The BOPP segment's function is a result of its special traits and processing power. To give BOPP its remarkable mechanical strength and dimensional stability, biaxial orientation is a crucial stage in the manufacturing process. When BOPP is utilized as the foundation for synthetic paper, the resulting paper has high tear resistance, water resistance, and durability. The Synthetic Paper Market's BOPP-based technology enables the creation of premium papers that can survive challenging environmental factors like moisture, chemicals, and UV radiation. For uses like labels, tags, maps, outdoor signage, and even printing materials for outdoor events, synthetic paper is the best option.
Global Synthetic Paper Market Share, by Application, 2022
The non-label sub-segment accounted for the highest market share in 2022. The synthetic paper market has made great strides in the rapidly changing technological world, with non-label categories being essential to its expansion and development. It is widely used in a variety of industries, including packaging, printing, and labelling, as a strong and environmentally beneficial substitute for traditional paper. Although the synthetic paper market has previously been driven mostly by the label segment, non-label applications have emerged as significant drivers of the industry's growth. Production of synthetic paper for use in high-end printing applications, including brochures, periodicals, and promotional materials, is one noteworthy non-label sector. The paper is a great option for organizations looking to generate long-lasting, colorful, and eye-catching marketing collaterals because of its superior printability, resistance to ripping, and greater durability. Additionally, synthetic paper technology has made significant strides, notably in the area of packaging. Innovative packaging strategies have benefited greatly from non-label synthetic paper market segments. Due to its recyclability, resistance to water, and ability to survive harsh climatic conditions, synthetic paper has become a popular option as businesses attempt to implement more environmentally friendly practices. As a result, it is widely utilized in sectors including food packaging, medicines, and others where maintaining the integrity and security of a product is crucial.
Global Synthetic Paper Market Share, by Region, 2022
The Asia-Pacific synthetic paper market generated the highest revenue in 2022. The market for synthetic paper has seen tremendous growth in the Asia-Pacific region. First off, there has been an increase in the number of businesses, including packaging, printing, and labelling, as a result of the swift economic development in nations like China, India, Japan, and South Korea. These sectors need strong, environmentally friendly materials that can deliver outstanding printing quality. Second, the use of synthetic paper has been prompted by environmental concerns and the need for long-lasting solutions. The synthetic paper fits perfectly with the region’s growing emphasis on ecologically responsible practices as a recyclable and tear-resistant substitute for conventional pulp-based paper. Additionally, the demand for synthetic paper used in shipping labels, tags, and other packaging applications has increased as a result of the expanding e-commerce market in the Asia Pacific area. The need for trustworthy and durable packaging materials has increased as more people shop online.
Competitive Scenario in the Global Synthetic Paper Market
Investment and agreement are common strategies followed by major market players. Yupo Corporation introduced a new product on reduced plastic that uses synthetic paper for labelling in December 2021. Cosmo Film introduced a brand-new item in May 2021 that is constructed entirely of opaque synthetic paper. This was made primarily for use as a dangler. This synthetic opaque paper has a matt texture and cannot be torn. Cosmo Films introduced two types of synthetic papers in September 2019. The first is a resistant synthetic paper, while the second is high-tear digitally printable paper.
Some of the leading synthetic paper market players are Formosa Plastics Group, SIHL Group, B&F Plastics, Inc., Jindal Poly Films Ltd., Cosmo Films Ltd., Granwell Products, Inc., Transcendia, Inc., Valéron Strength Films, Toyobo Co., Ltd.s, TechNova.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Product |
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| Segmentation by Application |
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| Key Companies Profiled |
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Q1. What is the size of the global synthetic paper market?
A. The size of the global Synthetic Paper market was over $960.4 million in 2022 and is projected to reach $1,775.2 million by 2032.
Q2. Which are the major companies in the synthetic paper market?
A. Formosa Plastics Group and SIHL Group are some of the key players in the global Synthetic Paper market.
Q3. What are the strategies opted by the leading players in this market?
A. Agreement and investment are the two key strategies opted for by the operating companies in this market.
Q4. Which companies are investing more in R&D practices?
A. Valéron Strength Films, Toyobo Co., Ltd.s, and TechNova are the companies investing more in R&D activities for developing new products and technologies.
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1. RESEARCH METHODOLOGY
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
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2. REPORT SCOPE
2.1. Market definition
2.2. Key objectives of the study
2.3. Report overview
2.4. Market segmentation
2.5. Overview of the impact of COVID-19 on Global Synthetic Paper Market
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive rivalry intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Environmental
4.7. Impact of COVID-19 on Synthetic Paper Market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
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5. Synthetic Paper Market, By Source
5.1. Overview
5.2 Printing
5.2.1 Definition, key trends, growth factors, and opportunities
5.2.2 Market size analysis, by region, 2020-2027
5.2.3 Market share analysis, by country, 2020-2027
5.3 Paper Bags
5.3.1 Definition, key trends, growth factors, and opportunities
5.3.2 Market size analysis, by region, 2020-2027
5.3.3 Market share analysis, by country, 2020-2027
5.4 Labels
5.4.1 Definition, key trends, growth factors, and opportunities
5.4.2 Market size analysis, by region, 2020-2027
5.4.3 Market share analysis, by country, 2020-2027
5.5 Research Dive Exclusive Insights
5.5.1 Market attractiveness
5.5.2 Competition heatmap
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6. Synthetic Paper Market, By Platform
6.1. Overview
6.2 Paper
6.2.1 Definition, key trends, growth factors, and opportunities
6.2.2 Market size analysis, by region, 2020-2027
6.2.3 Market share analysis, by country, 2020-2027
6.3 Packaging
6.3.1 Definition, key trends, growth factors, and opportunities
6.3.2 Market size analysis, by region, 2020-2027
6.3.3 Market share analysis, by country, 2020-2027
6.4 Others
6.4.1 Definition, key trends, growth factors, and opportunities
6.4.2 Market size analysis, by region, 2020-2027
6.4.3 Market share analysis, by country, 2020-2027
6.5 Research Dive Exclusive Insights
6.5.1 Market attractiveness
6.5.2 Competition heatmap
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7. Synthetic Paper Market, By Process Chemical
7.1. Overview
7.2 BOPP
7.2.1 Definition, key trends, growth factors, and opportunities
7.2.2 Market size analysis, by region, 2020-2027
7.2.3 Market share analysis, by country, 2020-2027
7.3 HDPE
7.3.1 Definition, key trends, growth factors, and opportunities
7.3.2 Market size analysis, by region, 2020-2027
7.3.3 Market share analysis, by country, 2020-2027
7.4 Others
7.4.1 Definition, key trends, growth factors, and opportunities
7.4.2 Market size analysis, by region, 2020-2027
7.4.3 Market share analysis, by country, 2020-2027
7.5 Research Dive Exclusive Insights
7.5.1 Market attractiveness
7.5.2 Competition heatmap
8. Synthetic Paper Market, By Region
8.1 North America
8.1.1 U.S
8.1.1.1 Market size analysis, By Source, 2020-2027
8.1.1.2 Market size analysis, By Platform, 2020-2027
8.1.1.3 Market size analysis, By Process Chemical, 2020-2027
8.1.2 Canada
8.1.2.1 Market size analysis, By Source, 2020-2027
8.1.2.2 Market size analysis, By Platform, 2020-2027
8.1.2.3 Market size analysis, By Process Chemical, 2020-2027
8.1.3 Mexico
8.1.3.1 Market size analysis, By Source, 2020-2027
8.1.3.2 Market size analysis, By Platform, 2020-2027
8.1.3.3 Market size analysis, By Process Chemical, 2020-2027
8.1.4 Research Dive Exclusive Insights
8.1.4.1 Market attractiveness
8.1.4.2 Competition heatmap
8.2 Europe
8.2.1 Germany
8.2.1.1 Market size analysis, By Source, 2020-2027
8.2.1.2 Market size analysis, By Platform, 2020-2027
8.2.1.3 Market size analysis, By Process Chemical, 2020-2027
8.2.2 UK
8.2.2.1 Market size analysis, By Source, 2020-2027
8.2.2.2 Market size analysis, By Platform, 2020-2027
8.2.2.3 Market size analysis, By Process Chemical, 2020-2027
8.2.3 France
8.2.3.1 Market size analysis, By Source, 2020-2027
8.2.3.2 Market size analysis, By Platform, 2020-2027
8.2.3.3 Market size analysis, By Process Chemical, 2020-2027
8.2.4 Spain
8.2.4.1 Market size analysis, By Source, 2020-2027
8.2.4.2 Market size analysis, By Platform, 2020-2027
8.2.4.3 Market size analysis, By Process Chemical, 2020-2027
8.2.5 Italy
8.2.5.1 Market size analysis, By Source, 2020-2027
8.2.5.2 Market size analysis, By Platform, 2020-2027
8.2.5.3 Market size analysis, By Process Chemical, 2020-2027
8.2.6 Rest of Europe
8.2.6.1 Market size analysis, By Source, 2020-2027
8.2.6.2 Market size analysis, By Platform, 2020-2027
8.2.6.3 Market size analysis, By Process Chemical, 2020-2027
8.2.7 Research Dive Exclusive Insights
8.2.7.1 Market attractiveness
8.2.7.2 Competition heatmap
8.3 Asia-Pacific
8.3.1 China
8.3.1.1 Market size analysis, By Source, 2020-2027
8.3.1.2 Market size analysis, By Platform, 2020-2027
8.3.1.3 Market size analysis, By Process Chemical, 2020-2027
8.3.2 Japan
8.3.2.1 Market size analysis, By Source, 2020-2027
8.3.2.2 Market size analysis, By Platform, 2020-2027
8.3.2.3 Market size analysis, By Process Chemical, 2020-2027
8.3.3 India
8.3.3.1 Market size analysis, By Source, 2020-2027
8.3.3.2 Market size analysis, By Platform, 2020-2027
8.3.3.3 Market size analysis, By Process Chemical, 2020-2027
8.3.4 Australia
8.3.4.1 Market size analysis, By Source, 2020-2027
8.3.4.2 Market size analysis, By Platform, 2020-2027
8.3.4.3 Market size analysis, By Process Chemical, 2020-2027
8.3.5 South Korea
8.3.5.1 Market size analysis, By Source, 2020-2027
8.3.5.2 Market size analysis, By Platform, 2020-2027
8.3.5.3 Market size analysis, By Process Chemical, 2020-2027
8.3.6 Rest of Asia-Pacific
8.3.6.1 Market size analysis, By Source, 2020-2027
8.3.6.2 Market size analysis, By Platform, 2020-2027
8.3.6.3 Market size analysis, By Process Chemical, 2020-2027
8.3.7 Research Dive Exclusive Insights
8.3.7.1 Market attractiveness
8.3.7.2 Competition heatmap
8.4 LAMEA
8.4.1 Brazil
8.4.1.1 Market size analysis, By Source, 2020-2027
8.4.1.2 Market size analysis, By Platform, 2020-2027
8.4.1.3 Market size analysis, By Process Chemical, 2020-2027
8.4.2 Saudi Arabia
8.4.2.1 Market size analysis, By Source, 2020-2027
8.4.2.2 Market size analysis, By Platform, 2020-2027
8.4.2.3 Market size analysis, By Process Chemical, 2020-2027
8.4.3 UAE
8.4.3.1 Market size analysis, By Source, 2020-2027
8.4.3.2 Market size analysis, By Platform, 2020-2027
8.4.3.3 Market size analysis, By Process Chemical, 2020-2027
8.4.4 South Africa
8.4.4.1 Market size analysis, By Source, 2020-2027
8.4.4.2 Market size analysis, By Platform, 2020-2027
8.4.4.3 Market size analysis, By Process Chemical, 2020-2027
8.4.5 Rest of LAMEA
8.4.5.1 Market size analysis, By Source, 2020-2027
8.4.5.2 Market size analysis, By Platform, 2020-2027
8.4.5.3 Market size analysis, By Process Chemical, 2020-2027
8.4.6 Research Dive Exclusive Insights
8.4.6.1 Market attractiveness
8.4.6.2 Competition heatmap
9. Competitive Landscape
9.1 Top winning strategies, 2020-2027
9.1.1 By strategy
9.1.2 By year
9.2 Strategic overview
9.3 Market share analysis, 2020-2027
10. Company Profiles
10.1 American Profol Inc.
10.1.1 Overview
10.1.2 Business segments
10.1.3 Product portfolio
10.1.4 Financial performance
10.1.5 Recent developments
10.1.6 SWOT analysis
10.2 Arjobex
10.2.1 Overview
10.2.2 Business segments
10.2.3 Product portfolio
10.2.4 Financial performance
10.2.5 Recent developments
10.2.6 SWOT analysis
10.3 Nan Ya Plastics Corporation
10.3.1 Overview
10.3.2 Business segments
10.3.3 Product portfolio
10.3.4 Financial performance
10.3.5 Recent developments
10.3.6 SWOT analysis
10.4 PPG Industries
10.4.1 Overview
10.4.2 Business segments
10.4.3 Product portfolio
10.4.4 Financial performance
10.4.5 Recent developments
10.4.6 SWOT analysis
10.5 Yupo Corporation
10.5.1 Overview
10.5.2 Business segments
10.5.3 Product portfolio
10.5.4 Financial performance
10.5.5 Recent developments
10.5.6 SWOT analysis
10.6 Neenah Paper
10.6.1 Overview
10.6.2 Business segments
10.6.3 Product portfolio
10.6.4 Financial performance
10.6.5 Recent developments
10.6.6 SWOT analysis
10.7 Avery Dennison
10.7.1 Overview
10.7.2 Business segments
10.7.3 Product portfolio
10.7.4 Financial performance
10.7.5 Recent developments
10.7.6 SWOT analysis
10.8 Taghleef Industries
10.8.1 Overview
10.8.2 Business segments
10.8.3 Product portfolio
10.8.4 Financial performance
10.8.5 Recent developments
10.8.6 SWOT analysis
10.9 DuPont
10.9.1 Overview
10.9.2 Business segments
10.9.3 Product portfolio
10.9.4 Financial performance
10.9.5 Recent developments
10.9.6 SWOT analysis
10.10 Hop Industries Corporation
10.10.1 Overview
10.10.2 Business segments
10.10.3 Product portfolio
10.10.4 Financial performance
10.10.5 Recent developments
10.10.6 SWOT analysis
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