Synthetic Paper Market Size Worth $1.7 Billion by 2030 - Grand View Research, Inc.

SAN FRANCISCO, June 16, 2022 /PRNewswire/ -- The global synthetic paper market size is expected to reach USD 1.7 billion by 2030, as per a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 5.5% from 2022 to 2030. Increasing awareness about climate change and the growing shift towards eco-friendly and recyclable packaging materials are expected to drive market growth.

Key Industry Insights & Findings from the report:

• The BOPP product segment led the market and accounted for 57.5% of the global revenue in 2021 and is expected to witness a CAGR of 5.5% from 2022 to 2030. The major driving factor to the market growth is the growing penetration of the product in labels and printing applications.
• The packaging industry in the non-labels application segment led the market and accounted for 50.8% of the global revenue in 2021. Synthetic papers are used for packaging because of their high durability and tensile strength to hold heavy items.
• Healthcare sector is one of the most rapidly growing sectors globally and is expected to bolster the demand for medical tags owing to its reliable performance in conditions like tampering and extreme cryogenic temperature.
• Asia Pacific is expected to grow fast at a CAGR of 6.4% over the forecast period. The region accounted for a revenue share of 36.0% in 2021. The demand in the Asia Pacific is led by the rapid growth of the pharmaceutical, printing, and packaging industries in developing economies.
• Key industry participants are investing heavily in research and development activities for the cost reduction of synthetic paper, which would provide them a competitive edge in the market.
• With the rise in product demand, many companies, for example, Cosmo, Fresco, Profol, Arjobex, and BF Plastic, have emerged to establish their position in the market. The companies are well established in the market and produce a wide range of products.

Read 198 page market research report, "Synthetic Paper Market Size, Share & Trends Analysis Report By Product (BOPP, HDPE, PET), By Application (Label, Non-label), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Synthetic Paper Market Growth & Trends

The major drivers of the market growth are the global increasing demand for paper and the efforts made to decrease the dependency on plant-based paper. Its sustainable production and recyclable nature are expected to notably drive the demand for synthetic paper materials in the coming years.

The Covid-19 pandemic had disrupted the global supply chain thus severely impacting the end-use industries for the product in 2020. However, the post-pandemic era has brought in bright prospects due to a boost in the economies, which are expected to accelerate the market.

The synthetic resin, which acts as raw material for synthetic paper happens to be crude oil's refined product. With fluctuating prices of crude oil, the demand for synthetic paper is bound to be hampered directly. Also, looking at the current geopolitical scenario, the crude oil prices seem to remain high for quite a long period, ultimately affecting the market.

Synthetic Paper Market Segmentation

Grand View Research has segmented the global synthetic paper market on the basis of product, application, and region:

Synthetic Paper Market - Product Outlook (Volume, Million Square Meters, Revenue, USD Million, 2017 - 2030)

• BOPP
• HDPE
• PET
• Others

Synthetic Paper Market - Application Outlook (Volume, Million Square Meters, Revenue, USD Million, 2017 - 2030)

• Label
• Non-Label

Synthetic Paper Market - End-use Outlook (Volume, Million Square Meters, Revenue, USD Million, 2017 - 2030)

• Hand Tags
• Medical Tags
• Others

Synthetic Paper Market - Non-Label End-use Outlook (Volume, Million Square Meters, Revenue, USD Million, 2017 - 2030)

• Packaging
• Documents
• Others

Synthetic Paper Market - Regional Outlook (Volume, Million Square Meters, Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Asia Pacific
• China
• India
• Japan
• Taiwan
• Australia
• Central & South America
• Middle East & Africa

List of Key Players in Synthetic Paper Market

• 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

Check out more related studies published by Grand View Research:

• Thermal Paper Market - The global thermal paper market size is expected to reach USD 6.03 billion by 2028 registering a CAGR of 5.2%, according to a new report by Grand View Research Inc. The growing product usage in tags & labels in the food & beverages and pharmaceutical industries is expected to drive the market growth over the forecast period. The rapid growth of the retailing industry in India, China, Indonesia, Brazil, UAE, and Saudi Arabia is boosting the use of retail transactions through PoS terminals. In addition, strict labeling norms in the food & beverages and pharmaceutical industries are further expected to boost the product demand.
• Stone Paper Market - The global stone paper market size is expected to reach USD 1.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.8% from 2020 to 2028. Increasing concerns regarding extensive deforestation for wood procurement to synthesize wood pulp are expected to fuel the demand for alternatives such as stone paper over the forecast period.
• Paper Products Market - The global paper products market size is expected to reach USD 275.1 billion by 2025 with a CAGR of 0.3%, according to a new report by Grand View Research, Inc. Major factor driving the market includes rising demand for paper packaging in the FMCG, pharmaceutical, and hospitality industries. Growing awareness about the adverse effects of using plastic packaging is also boosting the demand for paper products. The packaging paper application segment accounted for 51.58% of the global market in 2018 and is also expected to witness the fastest CAGR from 2019 to 2025. Leading brands are replacing plastics in their product packaging with paper. For instance, in October 2017, Apple launched iPhone 7 with 84% less plastic content in its packaging than in the packaging of the iPhone 6.

Browse through Grand View Research's  Advanced Interior Materials Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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