Synthetic Paper Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[213+ Pages Report] According to the report published by Facts Factors, the global synthetic paper market size was worth USD 729.30 million in 2021 and is estimated to grow to USD 1,216.39 million by 2028, with a compound annual growth rate (CAGR) of approximately 8.90% over the forecast period. The report analyzes the synthetic paper market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the synthetic paper market.

Market Overview

The synthetic paper has a similar appearance to ordinary paper but features more akin to plastic films. Since synthetic paper has better physical and chemical characteristics than regular paper, it offers many advantages. Petroleum derivatives with synthetic resins like polypropylene and polyethylene are frequently used to produce synthetic paper. Synthetic papers are environmentally friendly and inorganic, producing less waste during production. Worldwide, synthetic papers are used extensively for picture printing because of their glossy surface coating, which makes colors look appealing. These sheets are frequently used to print pamphlets, posters, and other materials like banners. As an eco-friendly substance, these papers have become increasingly important. The practice of printing photographs on synthetic paper for indoor banners, posters, and other photo printing applications is likely to drive its demand in the coming period. It is well known that these papers enhance the color and appeal of photos. The market for synthetic paper is also positively impacted by the spike in investments, expansion of manufacturing industries, use in consumer product packaging, and quick industrialization.

COVID-19 Impact:

The global synthetic papers market was negatively affected by COVID-19. The public and government sectors have suffered greatly from the financial crisis. Business were closed in numerous countries due to social distancing guidelines and lockdowns. Low production due to a shortage of laborers caused huge problems for the synthetic paper industry. Due to limited production and industry closures, such as printing, there was a decline in demand for synthetic papers. As a result of the post-COVID-19 situation, synthetic papers are expected to grow in demand.

Key Insights

• As per the analysis shared by our research analyst, the global synthetic paper market value is expected to grow at a CAGR of 8.90% over the forecast period.
• In terms of revenue, the global synthetic paper market size was valued at around USD 729.30 million in 2021 and is projected to reach USD 1,216.39 million by 2028.
• One of the major factors driving the growth of the synthetic paper market is the increasing preference of consumers for eco-friendly and recycled packaging.
• By raw materials, the BOPP category dominated the market in 2021.
• By application, the printing category dominated the market in 2021.
• The Asia Pacific dominated the synthetic paper market in 2021.

Growth Drivers

• Demand for eco-friendly and recycled packaging advancements to drive market growth

One of the key reasons propelling the growth of the global synthetic paper market is the rising customer preference for recycled and eco-friendly packaging. The market is being driven further by the increased demand for synthetic resins due to the material's excellent qualities, including resistance to chemicals, oils, tears, and moisture. Many businesses, including those that manufacture food and beverages, transportation, medical items, packaging, and consumer goods, are increasingly using synthetic paper. The increased acceptance of using environmentally friendly items benefits the market.

Restraints

• Fluctuation in the price of raw materials and crude oil hinders the market growth

In synthetic paper, price fluctuations may limit market growth due to fluctuations in basic raw materials like polybutylene, polypropylene, and polyethylene. A volatile raw material price will further increase production costs and act as a constraint on the industry. Plastic material for synthetic paper is in short supply, limiting the market growth. Crude oil is another major constraint on synthetic paper prices. There is a likelihood that prices of PP and PE will rise due to fluctuations in crude oil prices. Rising polymer prices will impact the market in the coming years. Raw material availability and application growth will likely drive price fluctuations for some time to come.

Synthetic Papers Market: Segmentation

The global synthetic paper market has been segmented into raw materials, applications, end-user, and region.

Based on raw materials, the BOPP, HDPE, PET, and PVC are segments of the synthetic paper market. Among these, the BOPP segment led the market in 2021. This material is extensively used in applications that require high tensile strength, high tensile stability, and heat stability. BOPP is an excellent material for labeling and printing because that can be made into a thin transparent substrate. Food and beverage packaging can be made with this synthetic paper because it is environmentally friendly and low in toxicity.

Based on end-use, the market is classified into industrial, institutional, and commercial/retail. In 2021, the industrial category dominated the global market due to the increasing utilization of synthetic papers in various industries such as paper manufacturing and others.

Based on application, the worldwide synthetic paper market is segmented into printing, labels & tags, packaging, and others. In 2021, the printing segment was anticipated to have the highest share in this market. Among synthetic paper applications, printing is the most common. Ink holds better on its micropores surface, providing a high-quality finish and better affinity for ink. Compared with conventional papers, its properties, such as durability, tear resistance, water resistance, scratch resistance, and abrasion resistance, make it an important substrate.

Recent Developments

• In 2020: Arjobex SAS acquired 100% of the MDV Group, a specialty paper and film manufacturer and coater for the printing, packaging, medical, signs/display, and building industries.

Report Scope

Regional Landscape

• Asia-Pacific dominated the synthetic paper market in 2021

In 2021, the Asia Pacific dominated the global synthetic paper market. Asia-Pacific is expanding for several reasons, including its rapid economic development and various eating habits, packing, and printing preferences. Additionally, the region's expanding population provides a sizable market for packaged food & beverages and fast-moving consumer goods (FMCG) items, which will fuel expansion in the synthetic paper market. Expansion in the Asia Pacific synthesis paper market is also fueled by increased disposable incomes, urbanization, industrialization, and population growth.

Competitive Landscape

• PPG Industries Inc. 
• Seiko Epson Corporation 
• AGFA-Gevaert Group 
• YUPO Corporation 
• Arjobex SAS 
• American Profol Inc. 
• HOP Industries Corporation 
• Relyco Sales Inc. 
• Transilwrap Company Inc. 
• MDV Papier-Und Kunststoffveredelung GmbH 
• Cosmo Films Ltd. 
• Neenah Inc. 
• Toyobo Co. Ltd. 
• Hwaseung Industries Co. Ltd. 
• Innovia Flims 
• NAN YA Plastics Corporation 
• Valeron Strength Films 
• Aluminium Féron GmbH & Co. Kg 
• Huanyuan Plastic Film Co. Ltd. 
• Tamerica Products Inc. 
• Ruian Rifo Packaging Material Co. Ltd. 
• Kaveri Metallising & Coating Industries Pvt. Ltd. 
• Shijiazhuang Dadao Packaging Materials Co.Ltd. 
• Elastin International Corp. 
• Masterpiece Graphix.

Synthetic Paper Market is segmented as follows:

By Raw Material Application

• BOPP
• HDPE
• PET
• PVC

By Application

• Printing
• Labels & Tags
• Packaging

By End-user

• Industrial
• Institutional
• Commercial/Retail
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America