Synthetic Paper Market Size 2023-2030 Global Industrial Analysis, Market Share, Top Key Players

Synthetic Paper Market

According to the report published by Zion Market Research, the global Synthetic Paper Market size was valued at USD 1,151.45 Million in 2022 and is predicted to reach USD 2,405.33 Million by the end of 2030. The market is expected to grow with a CAGR of 9.65% during the forecast period. The report analyzes the global Synthetic Paper Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Synthetic Paper Market industry.

Global Synthetic Paper Market: Overview

The production of synthetic paper generally uses petroleum derivatives which include synthetic resins such as polypropylene and polyethylene. The synthetic paper looks same as regular paper but their characteristics resemble that of plastic films. As synthetic paper have superior physical and chemical characteristics they offer many and varied advantages over the ordinary paper. Synthetic papers are resistant to stains, oily substances, water, and most of the chemical products. They can withstand extreme cold and heat. Ultraviolet rays do not have any effect on the paper, thus making it ideal for the outdoor applications. The synthetic papers are eco-friendly, inorganic and less amount of byproducts are produced during its manufacturing.

Global Synthetic Paper Market: Segmentation

The global synthetic paper market is segmented into its type, application, and regions. On the basis of type, the synthetic paper market is segregated into HDPE, BOPP, and others. Based on the application, the market is categorized into non-label and label. Geographically, the global market is diversified into North America, Asia-Pacific, Europe, and Rest of the World.

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Global Synthetic Paper Market: Growth Factors

The use of synthetic paper is not limited to the converting industry but is also utilized in the manufacturing of the children’s books, food label, and the packaging industry. The increasing application of the synthetic paper in different industries is the key factor that is driving the market. There is a rising demand for eco-friendly and energy efficient products, this is driving the growth of the market. But regular papers are used owing to its low price. The synthetic papers are generally manufactured using high-density polyethylene (HDPE) or biaxially oriented polypropylene (BOPP). BOPP synthetic paper have high performance and stability and can be used in extreme conditions, thus they are used in a wide range. BOPP accounted for the largest market share in the global synthetic paper market. The printing and the finishing applications require qualities such as high-temperature resistance, strength, grease, chemical resistance, durability, and moisture which are present in synthetic papers; hence, their demand is increasing which is boosting the market growth.

Global Synthetic Paper Market: Regional Analysis

The region that accounted for the largest market share is Asia Pacific region. It is mainly owing to its increasing demand from the industries such as packaged food and beverages and cosmetic. India, Japan, and China are the main consumers of the synthetic paper. The Middle East and Africa region also contribute a good share in the synthetic paper market. The factor that attributes to this growth is its increased use in the printing applications. There has been a tremendous growth in the utilization of the synthetic paper in the offset and xerography. European synthetic paper market is also growing owing to the presence of the key manufacturers of the synthetic paper in this region.