Global Synthetic Paper Market By Product Type (HDPE, BOPP, PET, and Other Product Type), By Distribution Channel (Label and Non-Label), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Synthetic Paper Market Overview:

The global market for the synthetic paper was valued at USD 1,326 million in 2021. It is expected to grow at a compound annual growth rate (CAGR of 5.7%) between 2023 and 2032.

Due to consumers’ preference for eco-friendly packaging and recycled paper, the market is expected to expand significantly.

Synthetic resins are petroleum-derived and make synthetic paper. The material has exceptional properties such as being resistant to tears, chemicals, water, and oil. It also offers better heat seal ability and printability than conventional paper. It is used extensively in many industries such as packaging, food, beverages, transport, and pharma.

Global Synthetic Paper Market Scope:

Product Type Analysis

BOPP accounted for 57.8% of global revenue in 2021. The material’s superior strength makes it suitable for packaging perishable products such as fruits, vegetables, snacks, fast food, fruits, and confectionery. This is expected to lead to a 5.6% CAGR from 2023 to 2032.

BOPP’s superior properties have led to its widespread use in packaging chemicals, textiles, food, and beverages. Over the forecast period, BOPP film will be in high demand in the Asia Pacific due to the growth of these application industries in emerging countries like India and China.

HDPE-based synthetic paper, which is used in the packaging and storage of powder, cheese, frozen foods, and electronic parts, will be the fastest-growing product category over the forecast period. It is expected to grow at 6.1% between 2023-2032. These papers have high moisture resistance and temperature resistance, as well as being non-abrasive and scratch-resistant.

HDPE will be a popular choice in emerging countries like Brazil, China, and India over the next few years due to its low price and wide application range. HDPE films can also be used as interleaving sheets, foam-in-place, box liners, and release liners.

Application Analysis

Market share for non-labeling applications was 59.5%, Synthetic paper is a good material for packaging and other non-labeling purposes. It has exceptional durability and the strength to hold heavy objects. The material’s superior resistance to extreme heat and moisture will also drive its growth in packaging applications.

Its ease of fine printing on synthetic paper with inks and adhesives is a major reason for its high demand. Synthetic papers are easy to print on, making them ideal for printing over-packaged items. They are also stained- and scratch-resistant, which makes them ideal for delicate materials packaging.

Over the forecast period, the CAGR for labeling applications is expected to be 6%. From 2023 to 2032, the CAGR for medical tags in this segment is expected to be more than 7.5%. Medical tags can be used for applications like blood bags, first aid, testing in pathological labs, tubes, pharmaceuticals, medical equipment, bottles, and medical devices. The Healthcare industry is the fastest-growing sector globally.

This will increase the demand for medical tags. Because of their reliability in extreme temperatures and tampering, synthetic papers are used to make medical tags.

Маrkеt Ѕеgmеntѕ:

By Product Type

• HDPE
• BOPP
• PET
• Other Product Type

By Application

• Label
• Non-Label

Market Dynamics:

The U.S. is a key market for synthetic. This is due to the growing awareness about the benefits of using environmentally friendly products. In the future, the synthetic paper will be more popular than vinyl.

The future of the product is likely to see digital printing. To stop the spread of the virus, governing authorities in different countries imposed lockdown restrictions. This had several effects on the retail sales of goods and a short halt to transportation and logistics. It caused a temporary drop in synthetic paper demand in 2021.

Synthetic paper can be used indoors for posters, banners, and other photo printing. The synthetic paper has a special coating that makes images more attractive and colorful. Synthetic paper is not only easy to print, but also resists chemicals, grease, folding, and heat. It is suitable for the production of safe-to-use thermoforming products for food packaging, as well as stationery like holders and covers.

Market leaders are investing in research and development to lower the cost of synthetic paper production. This would increase the market share for synthetic paper in the paper industry.

Additionally, governments in different countries are increasing their sustainability efforts across multiple industries. They are looking for ways to reduce waste and increase recyclability. The market for synthetic papers will be influenced by this trend over the forecast period.

Regional Analysis

The market was dominated by the Asia Pacific region, which accounted for 36.1% of global revenue in 2021. Due to the increasing demand in the packaging, pharmaceutical, and printing industries, the Asia Pacific market was worth US$ 478 million in 2021.

The region’s rapid growth in e-commerce will be another major driver for synthetic paper growth over the forecast period. The Asia Pacific region’s growth can be attributed in part to the increasing disposable incomes and a better standard of living in developing countries like India and China.

In 2021, Europe was responsible for a large revenue share at 28.8%. Due to the growing use of synthetic paper in the pet food and food labeling industries, the U.K. will likely see the greatest growth in label application.

Harrier Packaging is one of many companies that use synthetic paper to package pet food. The North American market was responsible for more than 23.2% of the total revenue in 2021.

Wrap-around labels are becoming more common in beverage packaging, including fruit juices, and functional drinks. This will drive North American growth in the label industry, which is expected positively to impact the growth of this market.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

To gain market dominance, major market players are implementing growth strategies. Companies are using a variety of strategies to increase their market presence in order to satisfy the increasing demand for synthetic papers from emerging countries. These include new product development, mergers and acquisitions, expansion, and expansion. The key players in the synthetic paper market are focused on long-haul supply agreements with select business partners to gain an aggressive edge.

Many companies such as Cosmo, Fresco, and Profil have emerged to strengthen their market position. These companies have a long history in the market and offer a broad range of products. The following are some of the most prominent players in synthetic paper markets:

Маrkеt Кеу Рlауеrѕ:

• 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.
• TechNova
• Other Key Players

For the Synthetic Paper Market research study, the following years have been considered to estimate the market size: