iCrowd Newswire – Jun 11, 2020
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.
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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.
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Growing needs for labelling and packaging in packed food and beverages provides an opportunity for the synthetic paper market growth
The BOPP based synthetic paper exhibits excellent resistance to moisture and chemicals as a result of which it is considered to be used as a better material for packaging and labeling applications. These type of synthetic paper are non-toxic and are used as a material of choice in the food and beverages packaging. These type of synthetic paper also possess characteristic properties like high-quality writ-ability and printability performance that helps the companies in enabling new designs for the development of labels that can be attractive. The waterproof, durability and longer shelf life properties make this type of synthetic paper the material of choice for beverages packaging. Synthetic paper is also eco-friendly and is a sustainable solution for printing applications in the food and beverages industry that has enhanced the synthetic paper market globally. The high mechanical strength of the synthetic paper is expected to boost the synthetic paper market growth in the coming years.
Increasing demands from packaging and printing applications is expected to boost the synthetic paper market
The high performance properties of synthetic paper, such as chemical resistance, oil resistance, tear resistance, water resistance, UV resistance durability, longer shelf life, etc. have gained high popularity as a preferred material in a wide range of end-use applications. As compare to conventional paper, the synthetic papers have superior characteristics to support high-performance printing with ease and are also reliable. Synthetic paper possesses properties such as excellent optical, thermal, and physical properties and are capable of being die-cut embossed, perforated, laminated, coated, and stitched that has led to increasing requirements in certain value-added applications. Synthetic papers are mainly being used in point of purchase display materials, envelopes and cards, passes and tickets, advertisement displaying articles, household product labeling and food labeling, identification tags, restaurant menus, signboards, banners, passports and id cards, waterproof maps, club cards, graphic arts, and various others. Rising demand for synthetic papers in paper bags and end-use industries like food and beverages, pharmaceuticals, packaging, cosmetics, and chemicals is expected to boost the overall growth of the synthetic paper market.
Raw Material Insights
Based on raw material, the global synthetic paper market has been segmented into BOPP, HDPE and others. Under the raw materials segment, the BOPP market led the global synthetic paper market. Moreover, the HDPE segment is anticipated to register the fastest CAGR over the projected period for the 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 BOPP synthetic paper is known to be ideal for its printing surface and can be used to make stickers and labels which has helped to favor the synthetic paper market across the globe.
The global synthetic paper market by the applications has been segmented into the label and non-label applications. The non-label segment accounted for the largest share in the global synthetic paper market. The non-label application of synthetic paper adapts to most of the printing processes such as flexography, lithography, screen and rotary letterpress. As the synthetic paper is tear-resistant and also exhibits resistance against water and grease, the printing application is widely used in the synthetic paper. Synthetic bags are gaining growing importance as they are water-resistant and tear-resistant and are commonly used in the geographical regions that are estimated to have high rainfalls and can also adhere to harsh conditions. Synthetic paper is widely used in displays such as graphs, business cards, calendars and poster, banners and many others.
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