SAN FRANCISCO, June 4, 2018 /PRNewswire/ --
The global synthetic paper market size is projected to reach USD 1.3 billion by 2024, according to a new report by Grand View Research, Inc., progressing at a CAGR of 7.1% during the forecast period. Rising environmental awareness due to initiatives taken by environmental organizations and increasing demand from the packaging & label industry is likely to stoke the growth of the market.
Synthetic paper is recyclable and wastes linked to the production are collected by a recycling company and processed as raw materials for other plastics. Unlike traditional paper, which can only be recycled four to five times at the most, synthetic paper can be recycled for unlimited number of times. Furthermore, it is water resistant, dustproof, tears resistant, and heat resistant.
Synthetic papers are durable and tear resistant, which makes them suitable for a variety of blister packaging applications. Its usage has been increasing in the pharmaceutical sector, especially with products known to have high pilferage rate. In addition to excellent physical characteristics, synthetic papers can deter tampering without sacrificing graphics fidelity.
The U.S. government plans to make their passports more secure by using RFID tags. The product is used to manufacture durable, secure, and high-performance RFID tags with enhanced performance and superior physical characteristics.
Price fluctuations of crude oil are expected to increase the prices of PP and PE. The polymer prices are expected to witness an increase over the coming years, which is likely to affect the market. Application growth and raw material availability are likely to remain key reasons for price fluctuations.
Browse full research report with TOC on "Synthetic Paper Market Size, Share & Trends Analysis Report By Product (BOPP, HDPE), By Application (Label, Non-Label), By Region (North America, Europe, APAC), Vendor Landscape, And Segment Forecasts, 2018 - 2024" at: https://www.grandviewresearch.com/industry-analysis/synthetic-paper-market-analysis
Further Key Findings From the Report Suggest:
- BOPP is expected to exhibit a CAGR of 6.4% in terms of volume over the forecast period owning to cost effectiveness along superior strength
- HDPE is projected to post a CAGR of 7.7% in terms of revenue from 2016 to 2024. Low cost of HDPE with extensive application scope is expected to increase its utilization in emerging economies of Brazil, China, India, and Russia
- Label application is projected to experience a CAGR of 7.5% in terms of revenue over the forecast period owning to increasing use in flexible packaging
- Asia Pacific is anticipated to rise at a CAGR of 7.6% in terms of volume on account of growing demand from China
- In March 2014, North American packaging distributor Xpedx announced an expansion of its digital papers portfolio by using synthetic papers YUPO Xerographic Polyester for HP Indigo.
Browse related reports by Grand View Research:
- Acrylonitrile Butadiene Styrene (ABS) Market - The global acrylonitrile butadiene styrene (ABS) market size was estimated at USD 23.09 billion in 2016 and it is projected to witness a CAGR of 7.1% over the forecast period.
- Specialty Silica Market - The global specialty silica market size was estimated at USD 2.66 billion in 2016 and is expected to grow at a CAGR of 4.9% over the forecast period.
- Carbon Black Market - The global carbon black market size was estimated at 11.99 million tons in 2014. Carbon black is majorly used in manufacturing of tires as it maximizes tread wear and reduces rolling resistance which is the key driver for the industry.
- Paint Protection Film Market - The global paint protection film market size was valued at USD 221.2 million in 2014, The industry's dynamics are expected to be heavily influenced by consumption trends in emerging markets, particularly considering the growth of end-use industries such as automobiles, defense and electronics, expanding manufacturing sector and urbanization.
Grand View Research has segmented the global synthetic paper market report on the basis of product, application, and region:
- Synthetic Paper Product Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)
- Synthetic Paper Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)
- Synthetic Paper Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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