The global synthetic paper market accounted for US$ 630.0 Mn in 2018 and is expected to grow at a CAGR of 8.1% during the forecast period 2019-2027
Synthetic paper is generally used for printing, labeling, packaging and other applications. The high performance of synthetic paper, such as high tear, water and grease resistance, UV resistance, extended shelf-life, chemical and oil resistance have gained increasing popularity as a material of choice in various end-use industries. As compared to conventional papers, synthetic papers have superior characteristics and are more reliable to support high-performance printing processes. Added benefits of synthetic paper, like laminated, coated, perforated, die-cut embossed and stitched have contributed to the increasing requirements in some of the value-added applications. Synthetic papers are also used in advertisement display materials, passes and tickets, envelopes and cards, household product and food labeling, restaurant menus, passport and ID cards, and many others. The supreme print quality, strength, functionality, versatility, and durability are estimated to be a contributing factor to the rise and expansion of the synthetic paper market in the coming years. The rising demand for synthetic paper to be used as paper-bags in end-use industries like pharmaceuticals, food and beverages, chemicals and cosmetics are estimated to fuel the synthetic paper market globally in the next few years.
The APAC region has held the largest share in the synthetic paper market globally. Japan and China are the leading countries in the production and consumption of synthetic paper. Several factors like the strict regulations to promote sustainable packaging and growing rate of population and advancements made by the cosmetic industries have been the factors that have influenced the synthetic paper market in the APAC region. The governments of the APAC region have taken up several initiatives to boost their respectable country’s sustainable packaging solutions. One such example is that in India, the packaging of food materials and other edibles is inspected by the Ministry of Health and Family Welfare as per the Prevention of Food Adulteration Act, 1954. The act clearly states that the material that is being used for packaging must fulfill the requirements of the Bureau of Indian Standards. The cosmetic industry is one of the most dynamic and diverse industry in the world. The expansion of this industry has been estimated to create a direct impact on the synthetic paper market as synthetic paper proves to be an eco-friendly option for the packaging of cosmetic products. The advancements in the printing and packaging technology are predicted to create a massive impact on the expansion and growth of the synthetic paper market globally.