Increasing demands from end-use applications is projected to escalate the synthetic paper market at a CAGR of 8.1%
Latest market study on “Global Synthetic Paper Market to 2027 – Global Analysis and Forecasts by Raw Material (BOPP, HDPE, Others), by Applications (Label, Non-Label), and Geography”, The global synthetic paper market is accounted to US$ 630.0 Mn in 2018 and is expected to grow at a CAGR of 8.1% during the forecast period 2019-2027, to account to US$ 1,244.5 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Under the raw materials segment, the BOPP segment accounted for the largest share in the global synthetic paper market. The biaxial oriented polypropylene (BOPP) synthetic paper is a biaxially oriented polypropylene film which means that the paper is stretched in both across the machine direction and in the machine direction. The global synthetic paper market in BOPP segment was valued at US$ 383.1 Mn in the year 2018 and it is expected to grow at a CAGR of 8.7% during the forecast period 2019-2027, to reach US$ 790.3 Mn in the year 2027. The various properties such a tear resistance and easy printing on the surface has led to an upsurge in the growth and demand of the BOPP synthetic paper all over the globe from application industries such as the labeling of products.
The synthetic papers are generally used for labeling, printing, packaging, and other applications. Due to high performance properties of synthetic paper, such as chemical resistance, oil resistance, tear resistance, water resistance, UV resistance durability, longer shelf life, etc., it has gained high popularity as a choice of materials in a wide range of end-use applications. Apart from superior optical, thermal, and physical properties, the synthetic paper also possess qualities such as the capability to be die-cut embossed, perforated, laminated, coated, and stitched have led to increasing requirements in certain value-added applications.
The market for global synthetic paper is concentrated with some very well-established players. Some of the key players in the global synthetic paper market include Agfa-Gevaert Group, American Profol Inc., Arjobex SAS, Cosmo Films Limited, Hop Industries Corporation, Nan Ya Plastics Corporation, PPG Industries, Inc., Toyobo Co., Ltd., Transcendia, Inc. and Yupo Corporation, among others.
Global Synthetic Paper Market — By Region Breakdown, 2018