Businesses can achieve practical and enduring results which are driven by accurate and timely research. Synthetic Paper Market report evaluates the growth rate and the market value based on market dynamics and growth inducing factors. It also provides the list of major competitors along with the strategic insights and analysis of the key factors influencing the Chemical and material industry. Global Synthetic Paper Market report provides in-depth market data and forecast by analyzing key business trends and identifying potential growth avenues across the entire value chain. This Synthetic Paper Market has been formed with the vigilant efforts of innovative, enthusiastic, knowledgeable and experienced team of analysts, researchers, industry experts, and forecasters.
Global synthetic paper market is expected to rise to an estimated value of USD 999.27 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026.
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Market Definition: Global Synthetic Paper Market
Synthetic paper is a specialised form of paper, although it essentially is derived from petroleum products and resins, displaying traits of plastics and plastic films. Modifications to this product results in its texture and features of being more as paper although they are highly durable, sustainable providing tear-free features and resistance to water along with being recyclable.
- High growth in demand for eco-friendly packaging products that are recyclable; this factor is expected to drive the growth of the market
- Increasing adoption of blister packaging and folding cartons packaging methods; this factor is expected to drive the growth of the market
- Availability of customized grades of products and solutions depending on their applications; this factor is expected to drive the growth of the market
- Availability of cheaper variant of pulp paper restricting the growth of the market
- Vulnerable nature of prices associated with the raw materials due to the dependency of the product on prices of crude oil; this factor is expected to restrain the growth of the market
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Segmentation: Global Synthetic Paper Market
By Raw Material
- Biaxially Oriented Polypropylene (BOPP)
- High-Density Polyethylene (HDPE)
- Polyethylene Terephthalate (PET)
By Raw End-Use Industry
- Paper Bags
By Manufacturing Process
- Extruded Flat Film
- Tubular Film
Key Developments in the Market:
- In December 2018, Japan Pulp & Paper Co., Ltd. announced that they had completed the acquisition of Spicers Paper (Singapore) Pte Ltd and Spicers Paper (Malaysia) Sdn Bhd, resulting in the integration of both business acting as subsidiaries of Japan Pulp & Paper Co., Ltd. This acquisition will further their presence globally and expand their distribution capabilities.
- In October 2018, Cosmo Films Ltd. announced the launch of an upgraded version of synthetic paper which has the capability of replacing the usage of pulp paper in a number of applications. The synthetic paper is essentially a modified version of BOPP (Biaxially Oriented Polypropylene) film which is designed to fulfil the needs and demands of pulp paper without tearing and having weather resistance capabilities.
Competitive Analysis: Global Synthetic Paper Market
Global synthetic paper market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of synthetic paper market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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