CHICAGO, July 2, 2020
CHICAGO, July 2, 2020 /PRNewswire/ -- According to the new market research report "Synthetic Paper Market By Raw Material (BOPP, HDPE), Application (Printing, Paper Bags, Labels), End-use Industry (Paper, Packaging), and Region (APAC, Europe, North America, Middle East & Africa, South America) - Global Forecast To 2025", published by MarketsandMarkets™, the global Synthetic Paper Market size is projected to grow from USD 526 million in 2020 to USD 819 million by 2025, at a CAGR of 9.2% between 2020 and 2025.
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Synthetic paper is manufactured by using synthetic resins which are derived from petroleum (primary material). Synthetic paper is preferred over conventional paper due to its excellent chemical & tear resistance, oil & moisture resistance, printability, heat sealability, durability, and high strength. These papers are used by various end-use industries, such as food & beverages, cosmetics, transportation, pharmaceuticals, chemical, and advertising. Synthetic paper is usually made up of BOPP, HDPE, and others which include polystyrene, polyamide, polyethylene, and polyvinyl chloride, among others. Resin selection plays major role in the attributes exhibited by different synthetic papers.
The BOPP segment is projected to account for the largest share of the synthetic paper market, by raw material, during the forecast period.
BOPP is thermoplastic polymer, widely used for synthetic paper because of its versatility and availability. This material is extremely used in applications which requires heat stabilities, water resistance, fatigue resistance, high tensile strength and ease of printing. Due to the ability of being manufacture into thin transparent substrate, BOPP can be used for the application such as labels and printing applications. BOPP can be environment friendly and low in toxicity which makes these synthetic paper to be used for packaging of food items and beverages.
The printing segment is projected to be the fastest-growing end-use industry in the synthetic paper market during the forecast period.
Printing is the largest preferred application for synthetic paper. Synthetic paper have the micro pores on their surface which enables better affinity for ink holding and provide high quality finish. As the synthetic paper has properties such as durable, tear resistance, water resistance, scratch resistant and abrasion resistant has made it an important substrate against the conventional paper. The demand of synthetic paper for printing applications has fueled due to increase in the demand for more durable and high quality print which can also be used for outdoor applications.
The paper industry is projected to register the highest CAGR during the forecast period.
Synthetic paper have micro pores on their surface which helps to increase ink adhesion over the surface on which printing is done. Synthetic paper offers enhanced properties which outperforms the properties of pulp paper which includes 100% recyclable, moisture resistant, tear resistant and UV resistant and durable. The use of synthetic paper is comparatively more in paper industry than in any other sector. Increase in the demand for durable tear resistant and excellent weathering properties of the outdoor advertising substrate has triggered the demand of this industry.
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The APAC region lead the synthetic paper market.
Rising population, growth in disposable income, rapid industrialization, and increased urbanization are driving the APAC synthetic paper market. The synthetic paper market in the region is mainly driven by various end-use industries, such as foods & beverages, cosmetics pharmaceuticals, chemicals, and manufacturing. The continuous industrialization and innovation in the paper technology, awareness regarding the printability has led to increase the consumption of synthetic paper in the above areas. China, Japan, Taiwan, and India are the main countries contributing towards the growth of the APAC synthetic paper market.
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